Four Ways to Increase B2B Revenue With Intent Data
Intent data is a form of intent-based marketing that helps data-savvy marketing professionals predict consumer purchasing decisions. If appropriately used, it can be a powerful resource for increasing your B2B revenue streams.
What is intent data?
Also known as B2B intent monitoring or predictive targeting, this digital behavioral analysis helps marketing professionals predict consumer purchase intent by analyzing your prospect’s online behavior across not just your site, but the entire internet.
When a consumer makes a purchase online, that general information is stored. It can then help predict what they might purchase, an or affinity for a product or brand. This data collection is fact-based and happens in real time — continually adapting to changes in digital patterns.
The collected data can range from a singular point to a more extensive collection model. A singular point is when a person researches the best kind of running shoes for them. Collection models are the types of topics an entire organization is researching.
The two types
You can use intent data to inform and shape the way you market to your leads. There are two main types:
First-party data: This type might seem familiar — it’s gathered from your website as it tracks user engagement using marketing automation. First-party data is anonymous, which means that while no name is associated with it, demographic information is still available.
Third-party data: A third party collects the data using analysis sites or review sites like Forbes or Gartner. When a prospect researches sites like these, the data co-op sites collect and save that information.
Many marketing teams use a combination of these two types to improve their marketing efforts. Common uses for predictive targeting include:
- Personalization. Your in-house teams can personalize outreach messages with information about topics your targets are already researching.
- ABM. Teams can focus on accounts that match the appropriate intent level.
- Targeted account lists. Outreach lists can filter dynamically for accounts that show a higher level of interest.
- Advertising. Leveraging this data can deliver more targeted ads to specific prospects, increasing conversions, and lowering cost.
Four ways intent data can help drive your revenue streams
The more data points for a single topic that consumers search for, the more likely they will buy the product. With intent monitoring, you can get ahead of that conversion point and nurture the buyer through your sales funnel. As your leads actively conduct their research online, your team can use the data to progress their buyer journey.
Through the following four tactics, companies can use predictive targeting to boost their conversions, target their marketing and even increase sales.
Personalize website experiences. A person will visit your website and look around before they fill out a form with their personal information. The data collected from their activities is anonymous because you don’t know who they are. However, using technology, you can see the type of company they work for or the industry they’re researching.
Once you have that information, you can personalize their digital experience. Using their data, you can serve them a customized page or custom content that more specifically matches their actions. These increase form signups and conversions, as you can serve them specific offers.
Prioritize based on engagement. Predictive targeting can also improve lead scoring. Lead nurturing occurs during the appropriate stage in the funnel, and the leads that are closer to the conversion stage can receive extra attention.
Nurture existing leads with personalized emails. Intent monitoring can help with email personalization by giving extra attention to a lead within your marketing funnel. It can also identify your email lists to pair them with outbound initiatives.
Identify potential customers who haven’t engaged yet. You can tie predictive targeting in with predictive scoring models for your accounts. These models help determine the likelihood your prospect will purchase your product. Intent monitoring cuts through the noise, ensuring your ad dollars are prioritizing conversions.
As a data-driven marketer, using predictive targeting lets you dive deeper into predictive marketing tactics to get better results. You can prioritize your efforts, so your spending is always focusing on the most qualified leads. Then improve ABM by identifying programs and content that are driving higher rates of engagement from your key accounts.
Want to increase your B2B revenue with intent data? Take a look at DemandWorks.
DemandWorks uses unique technology to help you target your key accounts, collecting data from a global audience to give you the most accurate view of your audience possible.