Today’s B2B marketing environment is highly reliant on data in a highly digitalized business environment. To stay competitive, traditional methods of gathering customer information are not sufficient. Data on intent plays an important role in this process.
Combining customer signals and intent data can give B2B companies a competitive edge and help them understand marketing trends from the sky. To succeed in a competitive market, you must target the right audience.
When it comes to targeting customers, having the right data is important, but just using customer data isn’t enough to be successful.
Sales and marketing teams must understand the power of Intent data to create Account-Based Marketing strategies that are effective as a result of the pandemic.
What is Intent Data?
A business can utilize intent data to gain insight into how users move through the purchasing process. This data is gathered by tracking intent search terms through cookie and IP address data, as well as by utilizing a variety of digital sources.
A business can focus its marketing strategies on those customers who are ready to buy by using intent data to quantify their customers’ active buying journeys. You can gain insights into the customer’s intent by tracking the insights, regardless of where they come from.
By increasing the overall quality of your customers, will assist in your lead generation initiatives, lead scoring projects, demand generation efforts, and lead nurturing campaigns. Three things can be improved with sufficient intent data:
- Identifying and proposing the solutions your users need to your marketers
- Keeping track of prospect behavior and buying intent helps you improve the quality of leads in your pipeline
- Engage active users and convert them into customers by increasing win rates
(Also Read: How AI and Intent Data Work Together)
Why Intent Data is the Future of B2B Marketing
Marketing teams seeking a competitive advantage are always on the lookout for ways to increase sales by anticipating the purchase intent of B2B buyers. Personalized content marketing helps prospects make informed purchases based on more accurate information. You’ll be able to reach more potential customers as a result.
With a marketing automation platform and CRM system driven by AI algorithms, your buyer personas and ideal customer profiles will become more precise as more data is aggregated.
Through future prospecting, you’ll better prepare your team to personalize content for targeted audience segments, anticipating their purchase decisions in the buyer’s journey and better equipping them to influence the buying decisions of customers. However, only about a third of marketing and sales teams put their analytics into practice.
Furthermore, a great deal of this data is stored in closed systems by many marketers without ever being used. Thankfully, artificial intelligence (AI) technologies today offer powerful insights into customer behaviors that provide a clearer picture of customer intent.
The Trend of Intent Marketing
According to research, 74% of companies desire to be “data-driven,” but only 29% know that they’re good at conveying analytics to action.
Data provides businesses with opportunities. As a result, marketing and sales teams are continuously searching for data that will make their lives easier and help them close more deals.
Intent marketing is the act of using intent data to uncover new sales opportunities that were previously inaccessible. Marketers can use it to identify whether an account is worth targeting based on several factors.
1. Changes in the demographics
In the 1990s, a cohort of people was born known as the “millennials”. The millennial generation is now in their 20s and 40s, making it incredibly difficult to ignore them. Online shopping is more popular among millennials than it is among their parents and grandparents, which should not surprise you. They are also far less loyal to a brand, as they are more comfortable conducting their research online.
2. Advancements in technology
The emergence of big-data analytics and the growing power of millennial consumers have put intent marketing at a crossroads. It’s nothing new to talk about intent marketing. Since direct mail marketing was invented, it has been around. Despite this, marketers have gained unprecedented intelligence about consumer intent thanks to technological advancements.
3. New regulations regarding privacy
Since the introduction of internet privacy regulations, intent marketing has become more important. A law, called the GDPR, was passed by the European Union in May 2018. In addition to flooding our inboxes with notifications about privacy policies, GDPR is having a big impact on how brands are targeting consumers.
Final Thoughts
The current marketing landscape is based on all-around data, so assets such as demographics alone will not be enough. With intent data combined with a plethora of other buyer signals, marketers can make their best approach to persuading B2B customers to purchase: increasing conversions. It may be complex to learn intent data, but when applied it pays off.
To learn more about how we integrate artificial intelligence and intent data, connect with the team at Byonic.AI.
