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?
Intent Data Allows you a Whole Different Level of Personalization
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.
Intent data is the Best Source to Enable Effective Account-Based Marketing (ABM)
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.
Intent Data Increases your ROI
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.