How to Leverage Behavioral Intent Data to Strengthen Your Marketing Efforts
As a business owner, you always want to know where to get new prospects with a high probability of buying. You also want to know what is causing them to put off purchasing, your buyer’s purchasing intent, or if they are interested in your product or services.
Most companies spend a significant amount of money on advertising efforts and yet fall short of their goals. Landing large B2B customers solely based on the profile is the wrong way to hit your target. This is where Behavioral Intent Data enters the picture.
The intent is a powerful tool that assists B2B marketers in precisely targeting prospects based on their behavior throughout the buying cycle. Intent data can be the solution if you keep getting conflicting messages from your customers, drowning conventional marketing methods in the abyss.
Forty percent of B2B marketers all around the globe are using these techniques. On the other hand, the ‘intent data’ information is random, dispersed, and unconnected. Marketers are increasingly finding it difficult to map and track their consumers’ purchasing journeys.
Digital technologies are picking up consumer preferences, and the growing adoption of AI and machine learning and purchasing stage behavior adds numerous options in consumer data screening. As a marketer in the B2B environment, it helps to learn more about intent data, its genesis, usage, and future consequence.
An Overview of Behavioral Intent Data
The term “intent data” refers to information regarding a buyer’s intent. It includes information on a buyer’s thoughts, preferences, usage patterns, experiences, discussions, purchases, analysis, and comparisons. This information relates to the final purchasing intention, including how it develops, leads to action, and concludes.
The basis of intent data is primarily cognition and consumer psychology, often known as cognitive psychology. Cognitive psychology is the scientific study of the mind as a data processor. Marketers are using cognitive psychology, which entails analyzing the buyer’s thinking using intent data as an actual indication of interest.
Configuring and storing substantial details of interactions is now feasible with AI and machine learning. This repository data, derived from customers’ browsing and purchase histories, is utilized to evaluate their behavior and establish their purpose for the transaction. The intent is essentially behavioral information.
The information comes from internal and external sources, including CRMs, downloads, and publicly accessible information. Intent data will disprove whatever assumption you have about your customers. With improved target choices, comprehensive insights into accounts, and tailored sales presentations, intent data allows B2B marketers to take a more strategic approach. This strategy also promotes collaboration between the sales and marketing departments to create and promote particular content.
Marketers may take advantage of many possibilities provided by intent data, which is smartly redefining the marketing funnel. Over 40% of B2B marketers are adopting behavioral intent data for the following reasons:
- To determine a buyer’s present stage in the purchasing process
- Determine who the key players are in the target accounts
- To discover content emphasis areas
- To assist marketing and sales teams in identifying and prioritizing important accounts.
- To trace deals back to the campaigns that started them
- Get a business into their sales funnel ahead of the competition
Leveraging Behavioral Data for Marketing
Buyers devote a significant amount of time and effort to study a solution. For some people, it is simply about learning about a problem, and others are actively seeking solutions. Intent data aids in the filtering of these two kinds of researchers, allowing marketers to focus on the ones that matter. AI and intent data are involved in this tactic.
Artificial intelligence analyzes millions of interactions to identify buyers’ digital signals or intent throughout the purchasing process. This allows B2B marketers to target particular customers based on the exhibited signals. If a buyer is searching for a solution or intends to purchase the one you have, the digital signals will raise an alert. As a result, companies will approach a buyer at the right moment with the right solutions.
Marketers can then use the information gathered for account-based marketing, automated consumer outreach, and customized email marketing, among other things. Organizations and B2B marketers are saving time and money by using intent data to improve their scores.
The following are ways to utilize intent data to improve your marketing efforts and generate revenue:
Make Your Website’s Experience More Personalized for Anonymous Users
People’s actions are deemed “anonymous” when they visit your website before filling out a form. Because the visitor is not anonymous, this phrase is somewhat confusing. If you have the proper technologies, you can identify a visitor’s business and industry based on their IP address alone. Yet, one could still describe the visitor as anonymous. You have no idea who they are or their position in their business or industry. They might be the CEO or CMO, but they could also be a student or an intern.
You may use web personalization to offer personalized content to encourage users to perform a particular action once you identify them “anonymously” on your website and monitor the sites they visit. In most cases, anonymous personalization is used to persuade visitors to identify themselves by filling out a form to contact marketing and sales.
One approach is to prioritize incoming leads according to their level of engagement thanks to the widespread use of marketing automation;. Many businesses are already utilizing first-party behavioral data (the person’s context) to improve their lead scoring model. This scoring methodology tries to measure the visitor’s purpose based on a series of actions. When leads visit your product summary page, for example, their lead score will rise. The score will increase if they visit your price page, suggesting a stronger desire to purchase, and so on. Then, when a lead’s score exceeds the level set by both the marketing and sale team, an alert is issued to sales, instructing them to contact that prospect.
Intent data from third parties may also be integrated into your current lead scoring model in a case where the lead has done some research on other websites about your product but has not yet met the first-party behavioral score criteria. You should not delay engagement with them even if they have not met the behavioral criteria (e.g., downloading your whitepaper). You should make that move if they are interested.
Send Customized Emails to Leads.
Categorizing incoming leads requires personalization, lead nurturing, and use of job titles. The issue is that job names in the B2B sector are not standardized, change often, and often provide little meaningful insight into a lead’s seniority, purchasing power, or even particular responsibilities within their organization. This often leads to incorrect classification, forwarding unqualified leads to sales, and sending “personalized” yet unrelated content to leads.
You must use the lead’s known first and third-party behavioral data to determine the context of their identity and position within the company and the subjects they are interested in. This will help you correctly classify leads and put them in the appropriate nurturing programs.
Identify prospective consumers who have not yet shown interest in your services.
There is a major influence over your prospects’ buying choices before they even make contact or visit your website. People, for example, consume information via their social media feeds and read reviews, both of which influence and direct them one way or another. These actions are referred to as third-party behavioral data.
Third-party behavioral data is mostly unstructured and has an enormous volume. The result is that only a few businesses have the resources or experience to incorporate big data into their marketing and sales operations. As a result, marketers are increasingly turning to predictive analytics systems that connect with marketing automation and CRM platforms to help them sort through the clutter and figure out which third-party subjects are really important.
Predictive account scoring algorithms may use anonymous third-party topic data to estimate the probability of future accounts purchasing. This data is used to select target accounts for outbound campaigns and to prioritize new inbound inquiries from leads in high-scoring accounts.
The Relationship Between Intent Data and Account-Based Marketing
The usage of intent data or behavioral data is creating waves for B2B businesses worldwide, from tailoring and personalizing content to delivering a smooth purchasing experience. There is no disputing that it is left an indelible impression.
Demographics and traditional B2B lead generating are no longer relevant. In the wake of digital disruption, we have arrived at a point when mastering the marketing funnel will no longer suffice, and success will require going beyond the funnel.
An increasing number of B2B marketers are utilizing intent strategies to tailor their content and increase conversion rates to drive growth. When compared to monitoring B2C customers, the mechanics of tracking B2B customers may be very complex.
The data gathered from your target prospects’ purchases, browsing, and other activities may be utilized to customize suggestions, promotions, and recommendations in real-time. AI-powered search and machine learning have made it possible to manage millions of unique and customized interactions.
Understanding what data your business gathers will not only give you a leg up on the competition in terms of what you can provide, but it will also align with the target user’s purpose. Behavioral intent data may help you determine who is looking to purchase and interested in solutions like yours.
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The Personalization for Lead Development Guideposted on December 19, 2020
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Predictive Analytics – The Future of Intentposted on December 19, 2020