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Technology has changed the way consumers behave requiring companies to overhaul their sales and marketing strategies. Clients and prospects do not only expect premium products and services, they expect an outstanding customer experience throughout the whole process.
The role of marketing and sales are intertwined – their work is complimentary and leads to collective revenue growth. Specifically, marketers have the goal to get customers to utilize the company’s product or service, this is done mainly through convincing them that investing in your business will provide solution to your needs.
The process of guiding a customer from learning about your company to closing is referred to as a sales and marketing funnel. In order to effectively nurture your leads and establish prospects as clients you need to understand your prospects motivation to buy.
Understanding your customer is the first step to putting in place a strategy that will optimize your marketing funnel. However, this is no easy task. In order to generate good leads, your company has to have the right lead generation infrastructure and appropriate campaign strategy.
Marketing today is completely different from what it was a decade ago; businesses experienced better name recall, less congested markets, and endless opportunities for innovation but today, there is more competition in all aspects of business development. Businesses need to not only amplify their products or service quality, offer affordable price points, and deliver practical innovation, they also have to provide excellent customer-centric marketing and client servicing.
Understanding customer interactions across all touch points is the number one challenge for marketers. Companies who adopt data-driven marketing are more likely to have an advantage over the competition and increase profitability. Moreover, these firms are six times more likely to be profitable year-over-year.
Some of the common challenges related to on-boarding intent data include:
Competition is high, and customers know they have options. B2B companies need to be intuitive and distinguish what their customers need without being told. Intent data informs service providers of buyers’ intention based on their online behavior. Being aware of your prospects actions and properly analyzing the information allows you to predict interests and preferences that will set you apart from the competition.
Having a marketing and sales solution that gives your company’s insights from accurate buyer-intent data to identify critical behaviors and patterns for better conversion strategies is important. By using tools that provide critical information on your prospects, touch-points, and key actions, generates higher conversion rates. Allowing you to know your clients better and accelerate your sales and marketing funnel for better, sustainable profits.
Utilizing intent data has a wide range of advantages, aside from being able to target buyers more accurately, intent data allows you to have quality information to build successful marketing campaigns around.
PureResearch is a product that helps you clean your data to ensure top quality results. As a tool for filtering out outdated or incorrect lead information, enjoy database maintenance, contact and account discovery, as well as research enrichment and personalization for better overall lead generation and data management.
Intent data is not only beneficial for sales and marketing teams, it can bring more order and better back-end data management by aligning your data around the overall goals and objectives of the company.
Giving your marketers the power of intent data will provide your company a huge competitive edge. Maximize quality data collections to build your analytics towards a better and more detailed understanding of client demographics, geographical analysis and market trends.
In order to have a seamless approach to lead generation, sales and marketing are the two significant units that need to know how to work together. Marketing teams need to be able to properly identify potential clients and send high potential prospects to the sales team for up-selling and eventual closure. It’s vital that these two units have their goals and objectives aligned and intent data can streamline any concerns through the provision of real-time accurate insights.
There is such a thing as customer fatigue and there is no time for blind testing and targeting. With high-quality intent data available at your fingertips, companies can position themselves to achieve maximum gains from their efforts. By working off accurate data, your team is better informed to make decisions regarding the right approach and timing with regard to sales efforts and engagements.
There are plenty of challenges that need to be addressed with regard to your intent data and marketing funnel, ranging from the quality of data to overall back end data management. Intent data is a marketing solution that offers a great advantage when properly utilized. Maximize sales and marketing efforts and minimize barriers related to quality of data, inharmonious customer interaction efforts, and under-appreciation of customer data through proper use of buyers’ intent data. Having a strong customer-oriented sales and marketing campaign starts with information on your target market.
By building a content marketing strategy that is anchored on the intent signals reflected in the data gathered regarding your prospective customers, you will be able to generate positive online activity and relationships through appropriate interactions, product displays, and offerings. Bringing together intent data and including it into your marketing funnel will give you stronger predictive power and in turn, revenue impact.
To learn more about the challenges of intent data and the strategies to overcome and successfully integrate intent data into your marketing strategies check out our white paper The Benefits of Intent Data in B2B Lead Generation.
Intent data is the heir of big data analytics and lead generation. Modern technology can now predict and anticipate the “intent” of a user based on their activity and search strings. It’s now possible to find potential customers out of the 4.3 billion internet users worldwide.
Intent data creates categories based on personal interest as opposed to traditional date; demographic location, age, and gender. As an example, Intent Data administers assurance that people searching for the latest car models are interested in it and may likely purchase one in the near future. The same can be said for people searching for food, organic supplements, and software, ect.
Concentrating on lead generation based on the users intent instead of traditional demographic targeting will deliver higher quality leads. A prospects intent shows their interest in the company’s products or service offerings. This eliminates guessing based on an individual or groups buying behaviors assumed on simple demographics.
The consumer decision making process depends on the item itself. The same person will not go through the same thorough research when buying baby formula as opposed to buying a house. However, even if both products are different in nature, a bad purchase on either of them may negatively impact the persons future. This is where Intent Data coming in -providing timely information ahead of competitors controls the buyer’s journey. A potential consumer will always find the time to read more information about products and services they are interested in purchasing.
Regardless of the product or service a company offers, a sales funnel exists. It doesn’t matter if the company is paying attention to its own funnel or simply playing a numbers game, there is a specific pattern of decisions and behaviors throughout the funnel that eventually leads to a closed sale.
Intent data identifies these behaviors and informs the marketing team how the behaviors eventually drive a decision that allows the lead to excel or abandon the sales funnel.
The buying cycle does not always end up in a sale. The buyer may end up purchasing from a competitor. Intent data can inform the company to nudge the lead favorably towards your direction once risk behaviors are identified.
Proactively providing information to potential buyers who are receptive to your products and services develops trust between the would-be consumer and the company. Assess and build strategies around the unique buying cycle in your industry and focus your marketing efforts on building favorable impressions to potential clients every step of the funnel.
Implement a marketing plan based on what gives your company control of the buyer’s journey in your niche. It results in better ROI on marketing efforts and prevents lead burnout.
Interacting with potential buyers from lead nurturing and other marketing efforts are hot sales leads. Engagement gives you and your company feedback on their decision-making process and creates an opportunity to provide them the right information to make the purchase choice.
Intent data is similar to Account Based Marketing (ABM) in that regard – giving you enough information to nurture and deliver personalized marketing material that intrigues prospects to make a purchase decision.
It is especially helpful in B2B marketing where the number of qualified leads is much smaller than marketing to the general public. Personalization also creates intimacy and develops trust between the marketer and the potential consumer.
Developing and implementing strategies that are specifically focused on the decision-making process based on your consumer provides higher value and makes your company impressionable.
There are different ABM tactics all of which work great with leads gathered from Intent Data:
Strategic Account Marketing – A highly personalized strategy that engages the marketing team to specific highly valued customers or potential clients.
ABM Lite – This works well for products and services with long complex sales cycles such as SaaS, PaaS, and high ticket items. It is semi-personalized to fit the needs of small niche groups.
Programmatic ABM – When you target a small group that shares the same traits and challenges. It is similar in scale to top-to-bottom funnel, and can only be successful when played by the numbers.
Bolt-On ABM – It is a B2B specific tactic that is designed to engage the entire buying committee. This is important in securing stakeholder involvement. Most B2B purchases are not decided upon by a single person. Strategies focus on engaging the entire decision-making process to increase the chances of a successful sale.
Intent Data is now possible with modern analytics. Marketers, especially for B2B companies, see the value in using lead generation programs and Intent data to emphasize quality over the quantity of leads. Gaining high quality leads and nurturing prospects through the use of Intent Data will convert to more sales and increase marketing ROI.
To learn more about the many benefits of integrating intent data into your marketing and sales strategies check out our white paper The Benefits of Intent Data in B2B Lead Generation.
The success of marketing is heavily reliant on data, but nowadays relying on customer data alone is not enough. This is where intent data comes in. The combination of customer signals and intent data can create a better bird’s eye view to help leverage customer insights to companies advantage.
But even with the rise of intent data, many marketers are still left in the dark about the value of intent data because of its complexity. It is important to learn and understand the buyer journey and their purchase decisions to implement better lead generation strategies, intent data makes this process more efficient.
In essence, intent data is information collected about a company or a person’s activities. Capturing internal intent data can help marketers by getting information in its website from its applications. This information helps B2B marketers gain more insight on customers, making it easier for companies to personalize the buyers journey.
The data you gather from contact forms, and customer data on your CRM platform, can help you work successfully to convert leads into sales ready customers.
Gathering basic information from your customers, allows you to start tracking their intent of your products and services. These insights can help you gain more qualified leads and potentially increase ROI. When looking to get the intent data you need focus on these key points of research:
As useful as intent data is, it is also important to note that the data collected should be verified before it can be used by marketing. Parameters, such as time and incomplete data, should be taken into consideration. These lapses could prove to be costly to companies as 70% of CRM data becomes obsolete within a year.
However, when preformed at standard and with verified information, marketers can benefit from the wealth of information intent data yields; significantly helping the overall buyers journey. Sufficient intent data can improve these three things:
But with all great advances, comes challenges in the use of intent data technologies and strategies. Overcoming some of the most common problems can help marketers maneuver smoothly and gain traction in B2B marketing. These challenges include:[
With marketers always looking for ways to get ahead, knowing the intent of the buyers is a must for any marketer gaining a higher success rate. Knowing prospects behaviors and triggers helps marketers understand the baseline for companies and what causes them to buy and when. With this knowledge, marketers can target a specific profile, and create personalized advertising for them on demand to increase likelihood of a purchase decision.
With all the information flowing, prospects become more informed of the decisions they make. More information means the more prospects discover about your product or service. When addressed conveniently at the right time and manner, prospects have more intent to buy therefor increasing ROI for the company.
With numerous data aggregated, it will be easy to create a baseline and learn potential clients’ behaviors and help marketers look for, “ready to buy” signals. Intent data can be used for future prospecting as they reveal patterns, helping you preempt your prospects’ purchase decisions in their buyer journey.
Data is currently the lifeblood of all marketing efforts and strategies, assets such as demographics alone will no longer suffice like in the old days. Leveraging intent data with a myriad of other buyer signals can help marketers be more effective at what they do best: convincing their B2B customers to buy. And while learning intent data may be complex, it pays off when applied.
As big data grows more and more relevant in today’s highly competitive world, intent data becomes a valuable tool that helps marketers by giving them clear patterns from billions of data. Allowing B2B marketers to effectively and efficiently target the right customers at the right time. Intent data provides all the information marketers need to generate personalized marketing strategies and optimize revenue, therefor being the future of B2B marketing efforts.
To learn these best practices and get started using intent data to increase your marketing ROI, take a look into our white paper The Benefits of Intent Data in B2B Lead Generation.
Marketing as an industry has evolved greatly over the past years.
The digital transformation has largely contributed to this growth. The internet and digital media are the source of advancement when it comes to sales and marketing. Since the internet has become accessible to a large portion of the global population, the opportunities for growth in digital marketing and lead generation have surged.
Compared to the mass media marketing trends of the past, today’s marketing strategies revolve around reaching specific customer segments, and guiding them through the buyers’ journey.
The digital world has made lead generation easier and more complex. Easier, because of the many tools at marketers’ fingertips, and harder because of how challenging it is to stand out in a crowded digital world.
Data-driven marketing, is marketing with specific goals, and research-based strategies. It’s no longer just about coming up with creative lead generation campaigns. It’s about studying your target market, understanding their behavior, and swooping in with personalized advertising.
What specific data are we talking about?
With a vast array of data available, how will your marketing team know which ones to zero in on?
Personalizing your marketing strategy has expanded beyond demographic research of your target. Demographics don’t share enough data – marketers who purely rely on this data will risk missing out on more than 70% of potential mobile shoppers.
In order to maximize your sales pipeline, you should shift the spotlight to intent data. B2B marketers use intent data to come up with strategic and personalized campaigns. According to research, only 25% of B2B companies are currently invested in intent data. You can start now and get ahead.
Simply put, intent data is a data set that shows the intentions of buyers’ based solely on their online behavior. When buyers actively search for your products and services, this signals intent. It can be tricky, not all those who show interest are ready to purchase.
When used properly, intent data can help identify potential buyers before your competitors can. Intent data can guide you on the best ways to prioritize qualified leads. Marketing isn’t just about customer acquisition, intent data can give your business a competitive edge in customer retention, allowing you to study prospects evolving preferences.
With great power comes greater challenges, though. While using intent data has proven to be effective and rewarding, it takes a lot of critical thinking and strategizing to be successful.
You know you can use intent data to tailor your buyers’ journey, but implementing these strategies is sometimes easier said than done.
So how can intent data accelerate your sales pipeline?
Say goodbye to blind targeting, and say hello to sharp and precise marketing. Intent data lets you in on what your prospects are looking for. This allows you to personalize your approach so that your marketing funnel acts as if it were designed for them individually. It’s no longer about just crafting strategies based on their locations or age—it’s about marketing that acts as a one-on-one pitch.
B2B companies are now realizing how critical ABM is. It’s a strategic approach based on setting goals for specific accounts. So where does intent data come in? When you focus on specific accounts and set respective targets, you can easily meet your prospects goals with the help of intent data.
This is probably the benefit that your marketing and sales teams look forward to the most. It’s proven and backed by research—companies that know how to effectively implement data-driven marketing are six times more likely to have a competitive advantage in terms of profit. Plus, they are five times more likely to be better in terms of customer retention. Thus, when your efforts target the right combination of KPIs, you’ll produce a higher ROI .
The benefits of investing in intent data far outweigh the challenges that come with it.
If your marketing and sales team is ready for the big leagues, they must equip themselves with the right mindset and tools so they can think out of the box and come up with the best ways to utilize intent data. If done right, your sales pipeline will surely increase profitability.
To learn more about increasing your sales pipeline with the use of intent data check out our white paper The Benefits of Intent Data in B2B Lead Generation.