It seems incredible, and a little crazy, that in 2019 more companies aren’t using Buyer Intent Data to drive their sales and marketing objectives and grow their business. It has huge untapped benefits and opportunities for businesses like yours to supercharge your lead generation efforts and find out more about your future customers.
What is Buyer Intent Data?
Buyer intent data identifies which businesses are actively researching you or the industry field that you work in. Buyer intent triggers are like a signal, telling you when these prospects are looking for businesses like yours. Buyer intent data captures online research of actual buyer journeys and determines whether this person is inclined to purchase the product they are looking for. The buyer intent data determines a purchase intent signal from the activity the person is conducting online.
In the simplest terms, it’s everything that a prospect does long before they visit your site and submit their details. The ‘hints and clues’ that they leave behind are what we call buyer intent. Buyer intent data captures all the details throughout the customer sales funnel.
There are two types:
Internal intent data
Activity that you’re capturing on your website, inside your marketing automation system or through application logs. Because it is data you own, it’s also referred to first-party data. Common examples of internal intent data include any landing page, pop-up or web form you have on your website.
External intent data
Data collected by networks of B2B publishers either at the IP level or through user registration and shared cookies. Because this is happening off your properties this is often referred to as third-party intent data.
External intent data is gathered via third-party providers and uses big data to compile more concise information. This data is the product of millions of visits to specific pages on hundreds of thousands of websites. This kind of data provides specific, concise information on a nearly endless number of metrics, such as:
- The number of times a specific document or piece of content is downloaded
- The number of times a video is viewed
- How many people clicked through after reading a call-to-action on a landing page
- Keyword search statistics
How does Buyer Intent Data work?
Millions of people all around the world search for topics and engage with different forms of content on various sites every single day. They could be on your website, but if you don’t have an efficient tracking code, you could be missing out on lead generation opportunities.
Complex buyer intent data algorithms can monitor those engagements to observe contacts taking actions and report the ones that match your ideal buyer profile. For that to work, you need to provide details such as:
- Typical prospect job titles, company size and geography
- Key terms (compound and straightforward terms of product, service, problems and outcomes)
- Influencer and key industry event URLs and/or social handles
- Customer account names and URLs
- Target account names and URLs
- Competitor names and URLs
This information is built into an algorithm which then uses machine-based learning and the latest technology to observe and note relevant actions which match your specific criteria. The data will then indicate intent from among the millions of activities that occur every day on the web. These actions include those taken in general search, on competitors’ sites, with industry influencers and major industry events.
Buyer Intent Data and Marketing Automation
Marketing Automation refers to the software that brings everything together. A lot of marketing departments around the world must automate repetitive tasks like emails, social media and other website actions. Marketing automation makes this easier and could save your business money in the long run too.
It can help you with the following everyday tasks:
- Lead generation
- Email marketing
- Landing pages
- Campaign management
- Marketing programs
- Lead nurturing and lead scoring
- Trend forecasting
- Relationship marketing
- Cross-sell and up-sell
- Marketing ROI Department
- CRM integration
Buyer Intent Data and marketing automation go hand-in-hand. They work well together and help you drive sales and marketing revenue and overall business growth, by introducing you to the customers you want and then automated the lead generation process.