The consumption of online material is one example of the types of behavioral indicators that may be used by sellers to identify whether or not a prospect is interested in making a purchase. It’s a collection of indicators that shows which contacts or accounts are doing research on your own and other websites.
People who are having issues just only a gadget and access to wifi in order to obtain answers and solutions to their issues. Searching for a reliable dog walker? Do you need to get some high-quality running shoes? Are you looking for any new software? Google’s got you.
Because of this, purchasing intent is a very potent concept. In contrast to blindly targeting, targeted selling allows businesses to reach potential customers who are actively looking for solutions much like the ones they provide.
Two forms of intent data may help vendors assess purchase intent:
The information provided by your own users and potential customers is known as the definition of intent data, or data gathered about the signals a web user leaves navigating the site. It incorporates the information gathered from your many platforms and websites.
Insights and signals gleaned from digital areas other than your own that are referred to as third-party intent data are compiled by other suppliers. A contact making a post on an online forum about a subject that is pertinent to your business or interacting with a video that is associated with your product category is an example of a third-party intent signal. These indications assist you in recognizing potential new customers even before they visit your website.
How are the statistics on intent collected?
The collection of first-party data is rather uncomplicated from a logistical standpoint. But how can these third parties get such mysterious click-through rates from every corner of the web?
Data about people’s intentions may be gathered in a few different methods, including the following:
- Information obtained by monitoring visitors to a website
- Information derived from participation in internet advertising
- Information derived from the consumption of content
- Information that is reflective of extensive internet investigation across several sources (e.g., multiple search engines, discussion boards, blogs, social media platforms, etc.).
- Information taken from software rating websites
- Any of the aforementioned accompanied with helpful contextual data, such as recent hires, media coverage, funding levels, referral sources, etc.
Let’s take a more in-depth look at the process of collecting data on B2B intent using the following questions that sales teams ask frequently:
What exactly is meant by the term ‘intent signal’?
Depending on the vendor, the precise definition of an intent signal may change, but in all cases it is an overt behavior indicative of a desire to make a purchase. The websites of companies that supply intent data are crawled once every few hours in order to detect signs of buyer intent.
The importance of each “signal” contributes in varying degrees to the total account value. Someone who likes a social post about your product but has shown interest in a competing offering (by, say, requesting a demo from the latter) has a far lower intent score than someone who has shown interest in the former.
When the signals begin to heat up, it indicates that the prospective clients are getting closer and closer to completing their purchase trip. This should serve as a signal to the sellers that the bottom-of-the-funnel marketing should be directed at them. Buyers that display just one or two purpose signals are just beginning their trip; thus, it would be beneficial to implement marketing methods that are more appropriate for the top of the funnel.
Is there still a correlation between buyer behavior and intent when it comes to related topics?
If you provide software for revenue intelligence, you would want to know whether or if a prospective customer is looking at “operations automation.”
Users may also set up their own alerts based on keywords (https://en.wikipedia.org/wiki/Keyword_(rhetoric)), job titles, and other criteria that they specify. This delivers merchants tailored information on hundreds of product- and industry-related issues.
Again, the intensity of these signals is often assessed in a different way than other strengths. For example, a direct contact with a rival or a new round of investment would be rated better than a mere keyword engagement.
What kind of accuracy does the data on intent have?
Intent data providers utilize zero guessing. Every single intent indication that you get is something that really took place. Someone uploads something, another person notices it, and then they notify you about it.
Now, as the data receiver, it is up to you to decide whether or not that intent signal was successful in its intended purpose. Implementing a plan for analyzing intent data in context and acting on that information is crucial for achieving the desired outcomes.
Does it then get spoiled once it has been collected?
Similar to other types of data, insights on purchase intent become less relevant with time. Choose a data supplier that continually scans the web for updated content and improves existing data.