The global B2B intent data market is expected to reach a value of USD 2.16 billion by 2027, growing at a CAGR of 22.7%– [ Forbes report]
At this point, where the marketing landscape is full of noise, the most successful B2B businesses are already reaping the benefits of intent data— to maximize revenue. But merely looking at it as the “game-changer in marketing” and being just reactive rather than proactive can hurt your business bottom line. And learning how to collect b2b intent data helps in generating more quality prospects and increase the chances of getting more qualified leads.
However, partnering with a best-intent data solutions company offers you a real competitive advantage in your sales and marketing efforts.
So, how will you leverage intent data? Read on, this blog provides you with a step-by-step guide for increased sales and marketing ROI.
But before that, let’s understand what intent data is:
Understanding B2B Intent Data?
Put simply, B2B intent data reveals the buying intentions of potential customers. It encompasses various online activities, behaviors, and signals that indicate a prospect’s interest in a specific product, service, or industry.
By analyzing this data, you gain valuable insights into their needs, challenges, and stages in the buying journey. Imagine knowing exactly which companies are actively researching your solutions, comparing competitors, or preparing for purchase – that’s the power of intent data.
How to collect B2B Intent Data?
Now that you have identified the challenges in leveraging intent data, let’s dive deep into the practical steps to collect and utilize it effectively.
1. First-Party Intent Data Collection:
Utilize tools like Google Analytics to track website visitor behavior, identify high-engagement content, and understand buying signals.
Lead Forms and Downloads:
Analyze form submissions and content downloads to gather insights into prospect interests and pain points.
Track email open rates, click-throughs, and unsubscribe rates to gauge prospect interest and tailor future communications.
Integrate your CRM with website analytics and marketing automation tools to create a holistic view of the buyer’s journey.
2. Third-Party Intent Data Acquisition:
Intent Data Providers:
Partner with reputable providers specializing in B2B intent data collection and analysis. They offer insights into website visits, search queries, social media activity, and more.
Industry Events and Webinars:
Participate in relevant events and webinars to connect with potential customers actively seeking solutions in your domain.
Social Media Listening:
Utilize social media monitoring tools to identify companies and individuals discussing topics related to your offerings.
3. Strategies for Maximizing Impact:
Build Buyer Personas:
Combine demographic and intent data to create detailed buyer personas representing your ideal customers.
Develop targeted content campaigns and nurture sequences based on specific buyer personas and their intent signals.
Account-Based Marketing (ABM):
Leverage intent data to prioritize high-value accounts and tailor personalized outreach efforts.
Equip your sales team with intent data insights to engage.
Now, let’s delve in the benefits:
Benefits of Leveraging B2B Intent Data for Lead Generation:
Here are the benefits:
Forrester predicts that by 2025, 60% of B2B marketers will be using intent data to identify and target high-value prospects. (Source: “The State of B2B Intent Data 2023“)
Reach high-value prospects before your competitors will!
Ditch the scattershot approach and focus your efforts on companies demonstrating active buying intent. This translates to higher lead quality, improved conversion rates, and maximized marketing ROI.
Low-Quality Leads Be Gone:
Stop wasting time and resources nurturing unqualified leads. Intent data helps you identify prospects with a genuine interest, ensuring your sales team focuses on the right opportunities: you prioritize your outreach efforts and maximize your ROI.
Must Read: Virtual Prospecting with Intent Data
Personalized Content that Converts:
Craft targeted messaging and content that resonates with specific buyer needs and preferences. This personalized approach fosters stronger engagement and drives conversions.
Boosts Efficiency & Saves Resources:
Eliminate guesswork and manual lead qualification processes. Intent data automates identification and prioritization, freeing up valuable time and resources for your team.
Shortens Sales Cycles:
Identify prospects ready to buy and engage them with relevant solutions at the most opportune moment. This accelerates the sales cycle and brings deals to closure faster.
Gain insights into competitors’ strategies and target accounts they might be pursuing. This allows you to differentiate your offerings and stay ahead of the curve.
Improved Brand Perception:
Demonstrating a deep understanding of your prospects’ needs through personalized interactions fosters trust and strengthens your brand image.
Optimize your marketing and sales campaigns based on real-time intent data insights, ensuring you’re allocating resources effectively and maximizing ROI.
Unlocks Hidden Opportunities:
Discover new potential customers who might not have been on your radar, expanding your reach and uncovering valuable business opportunities.
What are the challenges and considerations in leveraging intent data?
While intent data offers immense benefits, it’s not without its challenges. 71% of B2B organizations collect buyer signals, but over half fail to operationalize the data– according to Gartner.
Here are few points to consider:
Data Quality and Accuracy:
It is crucial to ensure that data used for analysis, reporting, and decision-making is accurate and trustworthy.
Ensure your data sources are reliable and regularly updated to avoid making decisions on inaccurate information.
Ethical Considerations and Privacy:
Respect data privacy regulations and be transparent about your data collection practices.
Forrester says: Partnering with reputable providers with transparent data acquisition methods is crucial for ethical considerations.
Integration and Utilization:
Integrating intent data with existing marketing and sales tools can be complex. Develop a plan for integrating intent data with your existing marketing and sales tools for seamless utilization.
Budget and ROI Measurement:
ROI remains the most challenging aspect for B2B marketers. The recent Demandbase report suggests that- investing in data integration platforms can improve utilization by 30% and lead to measurable ROI.
So, evaluate the cost-effectiveness of intent data solutions and establish clear metrics to track ROI.
Who is OnlyB2B? How will our intent data solutions achieve your ROI goals in 2024?
We’re your trusted partner, providing access to premium intent data that dives deep into real-time buying signals from millions of businesses across diverse industries. Forget generic targeting – pinpoint your ideal prospects with laser focus based on their specific needs, interests, and purchase intent.
OnlyB2B don’t just offer data; we empower you to leverage it effectively. We craft personalized marketing automation that delivers hyper-relevant content and messaging tailored to each buyer’s journey. Our expert team provides valuable guidance, helping you design and execute data-driven campaigns that consistently drive results.
So, start fueling your B2B marketing engine with the power of OnlyB2B’s intent data solutions and achieve your ROI goals in 2024 and beyond.
Vikas Bhatt is the Co-Founder of ONLY B2B, a premium B2B lead generation company that specializes in helping businesses achieve their growth objectives through targeted marketing & sales campaigns. With 10+ years of experience in the industry, Vikas has a deep understanding of the challenges faced by businesses today and has developed a unique approach to lead generation that has helped clients across a range of industries around the globe. As a thought leader in the B2B marketing community, ONLY B2B specializes in demand generation, content syndication, database services and more.