B2B Intent data explained: Here are three ways to drive ROI and accelerate growth
Hitting your quarterly B2B sales quota during market uncertainty is anything but easy. There is more than one way to take advantage of Intent data, and we’ll explore three key intent data-powered strategies to drive growth and achieve revenue goals.
B2B sales can be tough game of patience, and when markets are uncertain, it gets even tougher. Businesses are reluctant to spend money, and you end up investing a lot of time and effort hoping to find buyers willing to purchase your solutions. What if you could know in advance which prospects are ‘in market’ for your offering?
Intent data makes this possible. Here’s how.
- It reveals accounts in an active research or buying process.
- It provides insight into products and services they might be considering.
- Tracking prospect behavior through Intent data can elevate your sales operations to a new level.
Here are three key Intent data-powered strategies to drive growth and achieve revenue goals in 2020.
1. Optimize sales by engaging accounts most likely to buy soon
Only 2-5% of any audience is in an active buying journey at any one time. This means that ‘spray and pray’ marketing tactics put you at risk of wasting budget and missing sales unless you quickly find accounts most likely to engage in the near term.
By adding Intent data to your sales and marketing tactics, you can naturally do more, in less time. Specifically, you’d be able to pinpoint businesses looking to buy B2B solutions because they’re reading, searching, and downloading relevant content, which shows an active, target buyer journey has started. Your sales team now has the insights they need to reach out and offer suitable products or services in a personalized way.
Intent data can also be a cost-efficient strategy for optimizing digital ad spend as well. For example, the fact that the average click-through rate for display ads is just 0.46%. Many can sum this up to be largely in part to imprecise targeting. Intent data could help alleviate this challenge by enabling marketers to improve their ad messaging and placement, and most importantly, to target accounts likely to convert to B2B sales.
2. Keep churn in check by offering prospects hyper-relevant products and services
Knowing which businesses show buying interest is a valuable piece of information. But it’s equally important to know the products and services people are considering or otherwise your team will find it hard to personalize outreach and close the deal.
In that regard, Intent data can be a powerful secret weapon in your sales toolkit. It sheds light on the buyers’ interests and reduces the risk of producing generic, mass-marketed messaging. From ebooks to emails, you would be able to effectively personalize content by highlighting specific solutions prospects actually need.
This tactic works well with existing customers as Intent data can reveal which of your clients are researching competitors or need additional solutions that you’re already offering. Armed with these insights, you would be well-positioned to up-sell them and keep churn in check!
3. Convert top prospects before the competition does
Spotting, contacting, and converting top prospects into paying customers is the essence of B2B sales. But many teams are likely to wait for prospects to download an ebook or fill out the contact form before calling or emailing them. Fortunately, Intent data can put you one step ahead of the competition.
You won’t have to wait for potential buyers to visit your website. Reach out to them as soon as Intent data signals their interest in the solutions you offer. Being agile in contacting prospects can prove to be one of the most obvious B2B sales success strategies employed as around 50% of buyers choose the vendor that responds first.
You could also build a lead scoring model that would show which leads have the strongest Intent data signal. By responding to these insights on time, you could convert top prospects before the competition does.
Boosting B2B growth with Bombora
Hitting your quarterly quota can be stressful, but building a robust ABM pipeline shouldn’t be part of the problem. While market uncertainties make navigating account growth a challenge, Intent data can be the right tool for pivoting towards a proven growth outcome. It provides your team with the intelligence needed to find active buyers, delivers personalized messaging, and above all, helps you close the deal.