Often, sales reps have to encounter a “sorry wrong number” moment when connecting with a prospect. Data, precious data, is at the heart of an organization as it provides essential insights about the customer. Inaccurate data is not just about valuable time lost; it’s much more.
Reliable databases form the core of business development. To this end, B2B data solution providers have risen to the occasion to provide verified contact details that could help the sales and marketing teams achieve business objectives.
In particular, B2B intent data has been a godsend for B2B businesses, helping them to prospect strategically and find solutions for lead generation. Intent data holds the potential to build a strong sales pipeline.
Armed with data intelligence, data powered by user intent has the potential not just to gain a deeper understanding of the customers but also to revolutionize the way you communicate with potential customers, making it a marketer’s dream.
But how can B2B companies leverage valuable B2B intent data? What are the benefits of intent data? How do B2B companies source intent data? At Binary Demand, we, too, had the same questions in mind, and we figured it out; why not ask?
Understanding Intent data
The term “intent data” describes the collection of behavioral information of digital users conducting active research on external websites. It is possible to leverage this behavioral pattern to zero in on potential hot leads who are ready to make a purchase right away.
Leads and accounts that have shown interest in topics pertaining to your products and services are referred to as “in-market” intent monitoring data.
These leads have shown an unusually high interest in your product or service if they have researched specific products, seasonality, or patterns.
But to get valuable insights for B2B marketing teams, this data needs to be processed. It’s here that B2B buyer intent data pops in. Armed with certain tools and tactics, it allows B2B marketers to get insights into a buyer’s purchase journey and establish their brand as a top choice.
What are the sources of intent data?
When performing an online query, decision-makers search tons of digital footprints in their search to solve the specific needs of their organization. But the content they reach and the time they spend can reveal much about their intent. Some examples of such footprints are as below:
Product reviews
Attendance sheet of Webinars
Analysis of Website Traffic
Downloads to technical articles, case studies, and white papers
The duration spent on specific pages of a website
The views on your infographics
Subscriptions to newsletters or updates
Spike in interest in a particular topic
Intent data is the most beneficial for Account-based marketers who want a strategic outlook. They can use the information mentioned above to gather and analyze to support their customers better by facilitating them with early indicators of customer behavior change.
Third-party intent data providers can help you provide additional customer information about a company’s websites. But why the need for a B2B data provider? Let’s discuss.
Why do you need a B2B data provider?
In simple words, B2B data solutions providers offer a platform that helps gather, filter, and qualify vast amounts of contact databases that include vital customer details such as names, phone numbers, email addresses, locations, social networks, and other such contact details.
The sales and marketing teams can use these real-time B2B contacts to derive great value by accessing and segmenting them. It can then be used as a reference to design ideal ICPs and buyer personas. Such information can also be used to design cold call campaigns, customize cold email tactics, and other Account-based Marketing (ABM) strategies.
How to select the best B2B intent data provider?
By now, you must be clear about intent data and how it can help provide a richer and more actionable understanding of your leads, prospects, and customers.
When it comes to enhancing customer experience, more than a third of B2B companies agree that using data is the most difficult task. Misleading and incorrect data is undesirable. However, there’s good news: Many companies have emerged to offer your business the best available intent tracking data. All you need to do to choose a B2B contact database provider is ask rather simple questions as mentioned below:
Where to source B2B intent monitoring data from?
Some B2B data providers might only give you information gathered from their websites. There may be others who may just be working with a few B2B blogging sites. However, a reputed B2B data provider will provide at least a few references to stand true to the promises made. Don’t forget to check each of these sources individually.
How do you verify accurate data?
If your information is inaccurate, it is useless. A reliable data partner is what is essential for your business. Therefore, you should inquire how they ensure the accuracy of data. Feel free to pose queries such as:
Do you compare your data with information that’s available publicly?
Do you filter out free email domains?
Do you have to pay for the service even if the information isn’t helpful or accurate?
How will your data work with my marketing technology stack?
Always ensure that your sales team gets access to relevant data. The more swiftly your sales team can adapt to changing buyer preferences, the better the chances of more deals being closed. First things first when talking to a data provider: Figure out who in your sales team needs access to B2B buyer intent data and what purpose it will be used for. When you have a list ready, ask every potential vendor how their onboarding procedures can help meet your specifications.
When was the last data gathered?
Data is ever-evolving, so the game may have already been over by the time the alert reaches the CMO’s inbox. So, even if the B2B data provider assures you that the data comes from trustworthy sources, it won’t do any good to your business if it’s older than six months. By that time, your rivals may have already captured your intended audience.
What kinds of intent signals do you track?
When looking for information, potential customers may use a variety of sources. Simply put, the more activities you track, the more probable you will locate customers who are genuinely passionate about your product or service. It would help if you asked your vendor about the channels tracked by them. It can be anything – search engine queries, social media engagement, blog and website visits, webinar registrations, etc.
Do you comply with privacy laws?
Grey areas in data collecting are many. Third-party data is more complex to track than first-party data. In many circumstances, intent monitoring data is tracked not by individuals but anonymously by session or account. Hence, do not let a possible infringement hinder your business goals. Choose a B2B data provider that’s not just GDPR-compliant but keeps you in compliance as well.
Drive more sales by choosing the right B2B data provider
Intent data ranks as the fastest-growing data category for B2B businesses today. But choosing the right B2B data provider is essential. Various providers are available in the market, depending on the company size, and each specializes in its own ways.
With the market changing constantly, it isn’t easy to tide over the numerous options available. Hopefully, the questions discussed in this blog will help you identify the best B2B data provider for your business.
If you would like to know more about intent data from Binary Demand, contact one of our experts today!