Buyer intent data is probably the most underrated concept of our times.
As a salesperson, imagine the power you have if you know exactly when your prospect is going to buy your product, and how much she can spend on buying it. Intent data is the powerhouse of buyer data that can give sales (and marketing) teams the precise information of their prospect’s status in the sales cycle, thanks to big data analytics. AI and machine learning are fast gaining importance as foundations for digital transformation in many organizations. Intent data consolidate your buyers’ digital footprints across the web through various touchpoints and gives you a very transparent, ready-to-use data that can significantly influence your sales strategy.
While marketing automation tools have been collecting prospect data for almost a decade, intent data tools collect more than just ghost footprints of your buyer. In addition to engaging with your content, your buyer spends an enormous amount of time online researching about the product she wishes to buy- reading industry reports, online publications, google searches, and whatnot. Intent data is a combination of all this data, therefore, giving you a more holistic and concrete picture of your prospect’s buying psychology and capacity.
In this article, we will talk about 6 practical ways in which you can refocus your sales strategy to match your prospect’s:
1. Personalize campaigns
The importance of personalized communication with leads has been stressed throughout the history of sales and marketing. Despite the various tools in the market today, marketing and sales execs are guilty of not having the right data in the right context at times. Intent data reduces this dilemma drastically, therefore allowing teams to evade generic pitches.
2. Minimizing sales effort, maximizing output
Intent data allows sales to gain more in-depth insight into the prospect’s interests. Relevant intent data can assist in distinguishing between someone who is actually looking to buy something versus someone who is just trying to address a pain-point through literature. With the right set of data and tools at their command, your sales teams will find themselves generating leads of a higher value that demand less of their time. Sales teams can spend less time making cold calls or approaching first-time leads and spend more time connecting with leads with a strong need.
3. Access to intent data increases sales opportunities
Intent data is a solid source to increase sales opportunities at each stage of the buying cycle. Studies show that buyers often shortlist vendors based on digital recommendations. For leads existing in your database, it is easier to identify to point out their status in the cycle and correspond with them accordingly. You can connect with them through relevant content and offers, and accelerate your sales cycle.
4. Animate your user experience
How often have you come across a lead who has not interacted with your content the way you expect them? Connecting with leads only based on their demographic can only take you so far. With intent, you can connect with them on a personalized level without being labeled as sales.
5. Fostering Marketing-Sales alignment
The bone of contention for sales and marketing teams is the disparity between the intensity of a lead. With intent, they can both gauge the expectation and verify the tenacity of a lead- are they looking to buy, or are they just “web surfing”? is it a decision-maker who can take the final call or influence the buying process? These are vital answers that you can address only with intent data.
Buyer intent data is the perfect amalgamation of external and internal data to create a detailed picture of your buyer. As a sales team, it is always helpful to know what your buyer is considering at every stage of the cycle- giving you a slight edge to influence their decision making. You can leverage intent data to create a unique buying experience for your leads and ominously improve your sales strategy.