Buyer Intent Data
Article | October 7, 2022
Boost your sales in 2023 with these top 10 rich buyer intent data programs. Gain insights into customer behavior and purchasing patterns to drive conversions using the top buyer intent data platforms.
Contents
1. Market Dynamics of B2B Buyer Intent Data Software
2. KPI for Good Purchase Intent Data and How Does a Buyer Intent Data Software Determine the Purchase Intent?
3. Optimizing Your B2B Buyer Intent Data Using Software to Drive Sales
4. Top 10 B2B Buyer Intent Data Tools to Accelerate Sales with B2B Account-based Marketing
5. Summing up
Driving conversions has become more precise and predictable with the use of high-quality buyer intent data. As buyer intent marketing has emerged as one of the most promising tools to get the most out of your account based marketing campaigns, companies can quickly reach out to their highest potential prospects. This way companies can better plan the sales numbers and keep up with the rising demand for their products and services in the market while maintaining consistent customer experiences.
Buyer intent data software are capable to -
Provide granular insights into customer behavior and purchasing patterns.
Identify potential customers who are actively in the market for a product or service.
Improve target marketing efforts by enabling companies to reach the right people with the right message.
Enhance sales team's ability to close deals by providing them with valuable information about their prospects.
Improve overall marketing ROI by focusing resources on high-value prospects.
Facilitate data-driven decision making by providing actionable insights.
Monitor and analyze market trends and competition.
By using buyer intent data software, companies can gain a deeper understanding of their customers, making it easier to deliver a personalized and relevant experience, and ultimately increase conversions and sales.
1. Market Dynamics of B2B Buyer Intent Data Software
“The buyer intent data software market is projected to reach USD 15 billion at 20% CAGR by 2025.”
This growth is attributed to data-driven decision making, digital transformation, and e-commerce initiatives among businesses that has increased the adoption rate for buyer intent data software among large progressive enterprises. The demand for personalized shopping experiences and refined customer engagement drives rapid market growth in the buyer intent data industry.
2. KPI for Good Purchase Intent Data and How Does a Buyer Intent Data Software Determine the Purchase Intent?
Key Point Indicators (KPIs) for Good Buyer Intent Data:
1. Relevance: The data should be directly related to a buyer's intention to purchase a product or service.
2. Timeliness: The data should be collected and analyzed in real-time to accurately reflect a buyer's current purchasing intentions.
3. Accuracy: The data should be accurate and verified to ensure its reliability and usefulness.
4. Completeness: The data should include all relevant information about a buyer, such as demographics, previous purchases, and search history.
5. Consistency: The data should be collected and analyzed using consistent methodologies to ensure comparability over time.
6. Privacy: The data should be collected and stored in a way that protects the privacy and confidentiality of the buyer.
How Does Buyer Intent Data Software Determine the True Intent of a Customer Behavior?
Buyer intent data software determines the true intent of a customer behavior through various methods such as:
Natural language processing (NLP)
Machine learning algorithms
Data analysis of customer interactions and behaviors
Integration with other data sources (e.g. search history, demographics, etc.)
Predictive analytics
The software analyzes a wide range of data points to understand the motivations behind a customer's behavior, such as their search queries, content they engage with, and the actions they take on a website. It refers to information about a potential customer's interest or intention to purchase a product or service, usually gathered through online behavior such as web searches, social media activity, email interactions, and previous purchase history.
This data can provide insights into what a customer is looking for, their buying journey, and the likelihood of them making a purchase. It can help businesses to tailor their marketing and sales efforts, better understand their target audience, and increase the chances of successful sales. This information is then used to create a comprehensive profile of the customer's intent and provide insights into how they are likely to behave in the future.
3. Optimizing Your B2B Buyer Intent Data Using Software to Drive Sales
Monitoring the impact of your account-based marketing efforts is important to drive sales. Checking what has worked in the past using the historical data helps understand the patterns in your data which in turn helps you learn and narrow your focus when it comes to purchase intent data. These trends will change as per your industry however, they all help large enterprises to bring in more sales and data intelligence.
As far as the buyer intent data goes, gathering and analyzing the data from all the sources using technology and algorithms refine your intent data and helps you find higher potential accounts and take data-driven decisions.
4. Top 10 B2B Buyer Intent Data Tools to Accelerate Sales with B2B Account-based Marketing
Depending upon your specific needs and budget as well as your B2B industry, you can select an account-based marketing software with buyer intent data tools. We have listed some of the top B2B intent data providers to accelerate your B2B account based marketing down below.
6 sense:6Sense is a leading ABM software that provides buyer intent data to help B2B marketers personalize their outreach and drive pipeline growth. The platform uses artificial intelligence and machine learning to gather insights on your target accounts' digital behavior and buying signals, enabling you to prioritize your outreach and tailor your messaging to their specific needs and interests. Additionally, 6Sense offers a range of ABM solutions, including account identification, account engagement, and account orchestration, to help B2B marketers effectively plan, execute, and measure the impact of their ABM programs.
Albacross: Albacross is an ABM software that provides buyer intent data to help B2B marketers personalize their outreach and improve their pipeline. The platform uses lead generation and account-based marketing technology to gather insights on your target accounts' digital behavior, enabling you to prioritize your outreach and tailor your messaging to their specific needs and interests. Albacross helps B2B marketers identify their ideal customer profile and generate high-quality leads by tracking website visits and providing information about the companies visiting your website. The platform also offers a range of features, such as lead scoring, account-based retargeting, and email tracking, to help you optimize your ABM strategy and improve the impact of your campaigns.
Bombora: Bombora is a B2B data solutions company that provides account-based marketing (ABM) software for buyer intent data. The platform aggregates business intent data from various sources, including content consumption, social media activity, and job postings, to help B2B marketers gain insights into the buying signals of their target accounts. Bombora's technology provides actionable data on the topics that your target accounts are researching, enabling you to personalize your outreach and tailor your messaging to their specific needs and interests. The platform works with ABM and marketing automation tools like Marketo, Pardot, and Eloqua to help you streamline your ABM processes and make your campaigns more effective.
MadisonLogic: Madison Logic is a B2B marketing technology company that provides account-based marketing (ABM) software for buyer intent data. The platform offers a range of solutions for B2B marketers, including lead generation, content syndication, and programmatic advertising. Madison Logic's technology helps B2B marketers personalize their outreach by providing insights into the buying signals of their target accounts. The platform tracks the online behavior of your target accounts, such as website visits, content downloads, and email opens, to help you identify opportunities to engage with your prospects and improve the impact of your campaigns. Also, Madison Logic's ABM platform works with marketing automation tools like Marketo, Eloqua, and Pardot to help you streamline your ABM processes and improve your campaigns.
Qualified.com: Qualified.com is an ABM software that provides buyer intent data to help B2B marketers personalize their outreach and improve their pipeline. The platform uses artificial intelligence and machine learning to gather insights on your target accounts' digital behavior and buying signals, enabling you to prioritize your outreach and tailor your messaging to their specific needs and interests. Qualified.com offers a range of ABM solutions, including account identification, account engagement, and account orchestration, to help B2B marketers effectively plan, execute, and measure the impact of their ABM programs. The platform works with marketing automation tools like Marketo, Eloqua, and Pardot to help you streamline your ABM processes and improve your campaigns.
Demandbase: Demandbase is a leading account-based marketing (ABM) software that provides buyer intent data to help B2B marketers personalize their outreach and drive pipeline growth. The platform uses artificial intelligence and machine learning to gather insights on your target accounts' digital behavior and buying signals, enabling you to prioritize your outreach and tailor your messaging to their specific needs and interests. Demandbase offers a range of ABM solutions, including account identification, account engagement, and account orchestration, to help B2B marketers effectively plan, execute, and measure the impact of their ABM programs. Also, the platform works with a number of marketing automation tools like Marketo, Eloqua, and Pardot to help you streamline your ABM processes and improve your campaigns.
Demandscience: DemandScience is a company that provides buyer intent data software. This software helps businesses understand the buying behaviors and interests of their target audience. By analyzing a large amount of data, such as search queries, social media activity, and other online interactions, the software provides insights into what potential customers are looking for, what challenges they are facing, and what solutions they are considering. This information can be used by sales and marketing teams to better target their efforts and increase conversions.
Salesintel.io: Salesintel.io is a company that provides a B2B contact and company data platform that includes a buyer intent software component. This software uses artificial intelligence and machine learning to analyze large amounts of data from various sources, such as social media, search engines, and business news, to identify patterns and signals that indicate a company's buying intent. This information can be used by sales and marketing teams to prioritize their efforts and engage with potential customers at the right time, in the right way. By understanding a company's buying intent, businesses can increase their chances of closing deals and growing their revenue.
Terminus Account-based Marketing: Terminus is a company that provides an account-based marketing (ABM) platform that incorporates buyer intent data. ABM is a B2B marketing strategy that focuses on targeted and personalized outreach to specific companies rather than large groups of leads. The Terminus platform integrates buyer intent data to help sales and marketing teams better understand the buying behaviors and interests of their target accounts. By analyzing data such as website activity, social media engagement, and other online interactions, the software provides insights into the challenges and solutions that target accounts are interested in, allowing teams to personalize their messaging and outreach for maximum impact. The use of buyer intent data in the Terminus ABM platform can help businesses increase their conversion rates and drive revenue growth.
Zoominfo: ZoomInfo is a company that provides a B2B contact and company data platform, including a buyer intent data software component. The platform uses artificial intelligence and machine learning to analyze large amounts of data from various sources, such as social media, search engines, and business news, to identify patterns and signals that indicate a company's buying intent. This information can be used by sales and marketing teams to prioritize their efforts and engage with potential customers at the right time. With a deep understanding of a company's buying intent, businesses can increase their chances of closing deals and growing their revenue. Additionally, the platform includes features for data enrichment, lead generation, and account-based marketing, allowing sales and marketing teams to have a comprehensive view of their target accounts and personalize their outreach for maximum impact.
5. Summing up
Utilizing advanced technology and machine learning algorithms to gather and analyze data about potential customers, providing valuable insights into their buying behaviors and intent helps businesses gain an edge over competition. By utilizing this information, businesses can tailor their marketing and sales strategies to better target and convert leads into paying customers, ultimately driving more sales. Scaling your buyer intent marketing efforts has become a lot easier with the machine learning and predictive analytics.
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Buyer Intent Data
Article | June 20, 2023
Account-based marketing brings in a higher ROI compared to other marketing activities. It targets key accounts, but not always at the right time. The buyer experience gets compromised if the strategy does not align with the account’s buyer journey.
Demandbase CMO John Miller paints an interesting picture of what ABM is.
“The analogy that I've always used to describe ABM was fishing with spears, which was an effective analogy. But at the same time, it doesn't feel very good to get poked by a spear.”
-Demandbase CMO John Miller
If ABM pokes accounts without respecting them or creating an emotional connection with them, customer success cannot be guaranteed. This is where ABX comes in. It’s a GTM strategy that puts the value of customer experience above the value of key accounts.
ABM ››› ABX: Why Are B2B Marketers Adopting ABX?
B2B marketers clearly understand how effective the ABX strategy is compared to good old ABM.
Here are the reasons why:
Buyer groups are the stars of the show.
AI insights provide accurate information on which accounts exhibit buyer intent and what they are looking for. These accounts are engaged through hyper-personalized campaigns only when they are in the buying phase.
Marketing, sales, and customer success teams ensure every touchpoint consistently delivers value to the customer.
ABX execution involves being agile enough to adapt to the ever-changing behavior and needs of the customer.
Every customer is nurtured to deepen loyalty for a long-term business relationship.
Why Does ABX Matter?
Upgrading your plain old ABM strategy to an ABX strategy simply means applying customer experience best practices to your marketing processes. Consequently, your campaigns are trustworthy, impactful, empathetic, and relevant to every stage of your customer’s journey. Targeted messaging that appeals to every member of the customer’s buying team influences the buying decision of the account. The strategy brings sales, marketing, SDR, and customer-facing teams together so they work towards creating a wholesome customer experience consistently across all the touchpoints.
Conclusion
In a world where there is a continuous influx of information and a scarcity of attention, any kind of interruptive marketing may be ineffective and off-putting. Companies should focus on ABX to build trust with key accounts and create engagement that isn’t forced through perfectly orchestrated interactions across a project or management lifecycle.
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Core ABM
Article | June 20, 2023
Many businesses employ Software-as-a-Service (SaaS) for its flexibility and simplicity to fulfill their marketing requirements. Different types of SaaS marketing platforms help companies simplify their marketing needs. But growing a SaaS company isn’t easy. It is quite challenging because the industry is flooded with competition. Research had predicted very early on that 73% of the companies would turn all their apps into SaaS by 2021, making SaaS competition fiercer than ever. Marketeers eye for consumers’ already limited attention spans in B2B and B2C spaces.
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Core ABM
Article | January 4, 2022
Metrics, Analytics, and Insights in ABM
It is a fact that ABM gives a higher ROI as compared to other marketing strategies. If you are a marketer who has painstakingly built an ABM strategy from scratch, you would understand the amount of time it takes to execute it and for it to show measurable results. How do you measure the success of your ABM strategy? You need to understand the metrics, analytics, and insights. Marketers use these terms interchangeably, but there is a difference between them.
By using raw data points, metrics show you the incremental changes in how target accounts interact with your brand.
Analytics compares the metrics over time to show you how your ABM strategy is performing.
Metrics and analytics together help you gain insights into what is working and what isn’t.
Insights help you take action to improve your ABM strategy.
To measure the success of an ABM strategy, you need to use ABM Key Performance Indicators (KPIs) metrics. ABM KPIs track the performance of your strategy with respect to customer service, marketing, efficiency, revenue, and employment statistics.
In an interview with Media 7, Abhi Yadav, Founder & CTO of Zylotech, talked about the importance of customer intelligence in marketing:
Tracking every point of engagement is critical in delivering a holistic view of where buyers are actively engaged and what’s working.
Defining ABM KPIs
Use the SMART criteria to evaluate the effectiveness of a KPI. SMART stands for Specific, Measurable, Attainable, Relevant, Time-Bound.
By identifying how well the KPI fits into these criteria, you can define it. Find answers to the following questions to define your KPI:
Is your goal specific?
Is your goal measurable?
Is it attainable?
Is it relevant to your business?
Is the goal time-bound?
A well-defined KPI should be a part of your marketing analytics strategy to accurately track the performance of your ABM strategy.
KPIs You Should Measure to Track ABM Success
Sales Funnel Metrics
Measuring sales funnel metrics can quickly pinpoint where your ABM strategy has fallen out of alignment with your business goals. They can be classified into three types:
Upper Funnel Metrics
Upper funnel or top-of-funnel metrics track the engagement rate of the leads within your target accounts. They assess the time taken for a lead to complete specific actions like opening your emails, receiving, or responding to direct mail, visiting your website, and more. You can pinpoint which leads are closer to buying based on the increase in engagement. These metrics also help you know which accounts don’t know anything about your company. You can improve your strategy to capture these accounts.
Is there a huge gap between the products and services your target accounts want and the ones you offer? This gap is the white space. Find your white space by identifying where you lack engagement within your accounts. Should you consider targeting different accounts? Eliminate the white space once you find the answers to these questions. Your goal should depend on the size of the company and the number of ICPs you are targeting.
Middle-of-Funnel Metrics
These metrics help measure the impact of your campaign on your top accounts. Are your target accounts having productive meetings and engagements with your sales team? Swiftly moving your leads to the sales team is an indicator of an effective ABM campaign. Also, you should measure the quality of the campaign based on how many leads move to the next stage of the funnel.
Bottom-of-Funnel Metrics
For the bottom-of-funnel metrics, measure average selling point (ASP) to gauge if you have targeted the right accounts with your campaign. If you have a higher close rate within your ABM accounts that means your campaign is performing well. As compared to other marketing strategies, ABM helps businesses increase their close rate.
Customer Churn Rate
The customer churn rate, also known as the attrition rate, is the number of accounts that have stopped doing business with you over a period. It should be as low as possible. It is a metric to measure the quality of the relationship you have with an account. ABM is a qualitative marketing strategy. If your churn rate is high, then reevaluate your products and services and confirm that you are targeting the right accounts. Understanding your target accounts better is the easiest way to decrease your churn rate.
Content Engagement
Content management is of paramount importance while running an ABM strategy. With this KPI, you can track the engagement each piece of content brings. The pieces that don’t perform well should be scrapped or improved to better suit the needs of your target accounts. Email open and click-through rates point towards ineffective subject lines, content, and CTAs.
Form Fills
Form fills are important for collecting data that helps with nurturing and engaging leads. Track your form fills to confirm if you are gathering information effectively. Adjust your campaign if you are not getting the expected results.
Conversions during the Customer Journey
A good way to show your customers that you care about them is to give them several opportunities to buy or sign up. It's important to keep track of the conversion rate for each CTA so that you can figure out where customers are losing interest in the sales process. Having this information will help you improve the customer journey.
Phone Calls and Scheduled Demos
Keeping a record of your phone calls and scheduled demonstrations is crucial to measuring your ABM success. You are creating a personal connection while interacting with the customer so they may take you closer to converting a deal.
Conversion Rate
Every ABM strategy’s aim is to drive sales and acquire new customers. As a metric, the B2B conversion rate is important because it helps you evaluate the success of your campaign and compare your performance to the previous year.
Customer Retention
Assess the health of your accounts by measuring customer satisfaction. A Net Promoter Score (NPS) can determine how satisfied your accounts are with your product or service. You can seek their feedback and use it to create better customer experiences and, in the future, design products and services to cater to their needs so you can retain your customers.
Average Deal Size
This KPI is primarily used by sales managers to understand how well they have utilized the opportunities that have come their way. It is calculated by dividing your total monetary amount of deals by the total number of deals that were converted. It can help the sales team understand what the average deal size is that they are looking at and what they can aim for.
Popular ABM Analytics Tools
The most popular and widely used ABM analytics tools are Microsoft Excel, LeanData, Salesforce, Google Analytics, Marketo, Engagio, DemandBase, and Terminus.
How ServiceMax Saw a 300% Increase in Their Conversions Using DemandBase
Using DemandBase’s Forms solution to collect user data, AI-powered DemandBase Site Optimization for data personalization, and DemandBase Analytics to understand traffic trends, bounce rates, conversion rates, and other critical website metrics, California-based Service Execution Management company ServiceMax, witnessed a 300 percent increase in their conversions, a 70 percent decrease in bounce rates, and a 100 percent increase in page views per session.
Key Takeaways
Measuring the success of your ABM strategy is crucial to understanding the strong and weak points of your strategy. A lot of trial and error goes into creating an effective ABM strategy. Define and measure your ABM KPIs to optimize your ABM strategy for better results.
FAQ
What are the most important ABM KPIs?
Some of the most important KPIs are upper funnel metrics, customer churn rate, and conversion rate.
What are some popular ABM analytics tools?
Popular ABM analytics tools include Salesforce, Google Analytics, Marketo, Engagio, DemandBase, and Terminus.
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