26th Mar, 2021
Marcom, , Designation
- Nearly 71% of digital demand generation marketing operations fade out of existence due to lack of intent-driven data of prospects
- Here are three pillars behind an intent-based marketing strategy to supercharge digital demand generation marketing operations
Every year businesses spend millions of dollars on vaguely targeted advertising campaigns that fail to hit the bull’s eye. A recent survey by Demandbase has depicted that as many as 71 percent of B2B marketers fail to meet their marketing expectations. Why? Because in a buying cycle, all the efforts provide zero impact on near term revenue if an intent-driven strategy isn’t implemented.
The three pillars of a successful intent-based marketing strategy
Adopting an intent-based strategy means employing the buying behaviour of potential customers to decide where to focus and double down marketing efforts. An intent-driven demand gen campaign can segment business efforts on accounts where there is active demand. In a nutshell, an intent-driven strategy reduces the overall marketing spend and hikes the ROI with less effort. To help businesses achieve best-in-class ROI, here are the three fundamental angles of investigation to pursue:
#1 Identity: Focussing on buying patterns
Success in modern-day B2B demand generation marketing sprouts from a strong understanding of historical buyers’ data. The past campaign success analytics is a great source of this buyer data. Businesses should keep looking for other similar sources and use that data for timing, context, and relevance.
While searching for customer data, businesses should also look-out for the behaviour they are targeting. High-quality third-party intent data needs to be refined for the buying patterns.
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#2 Enrichment: Leaning on real-time data
When businesses purchase corporate database or intent data solutions, it’s easy to feel inundated by vendors and solutions. Predictive intent platforms extract data from a range of sources and then use machine learning, AI, data modelling, plus historical information, and more to predict who will purchase what. As predictive analytics platforms are reliant heavily on historical backgrounds, they aren’t a clear indicator of what marketing steps can be taken in the future.
On the other hand, an intent monitoring platform analyses the online activity occurring around key targeted accounts. Intent monitoring platforms support B2B outreach teams to identify new, active potential prospects and track online activities around topics related to a company’s solutions or services. An intent-informed sales team leverages real-time data to engage prospects even before their intent to purchase is explicitly expressed.
#3 Execution: Fusing the Intent into the Marketing Strategy
The third step of considering an intent-based approach is re-engineering the market strategy and integrating it with the intent data. Marketers need to understand how to get maximum value from the data easily and quickly. They should factor this data into the existing workflows.
How to capture intent data?
Intent data is captured in three basic ways, named as website tags, bidstream data, and registered users on websites.
The Metadata that is made available through programmatic advertising platforms is known as bidstream data. What happens here is: when a user visits a site with programmatic ad inventory, the data for automatic biffing associates the visitor to a company.
Registered users on websites
When someone registers on a site to download information or to access a site’s full functionality, they knowingly or unknowingly give consent to the website owner to share their information with all of the website owner’s customers. This is the data collected from registered users.
Once businesses capture the B2B data, the next step is to categorize that data by topic or the relevant keyword and link it with the interests of potential purchases. In the next stage, the intent signal is separated from the ongoing noise of online research activity.
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Intent data is the future of B2B marketing
Purchase-intent data is the hottest up-and-coming power source for demand generation marketers.
it powers the sales pipeline and helps enterprises to prioritize accounts exhibiting real demand. It can aid organizations that want to compete in a specific market and fuel sales and marketing alignment for ABM systems.
Organizations are swooning over intent data because it gives sales the insights required to accelerate deals. However, while considering an intent solution, organizations should make sure to adopt a balanced B2B database approach that truly recognizes their target market. Enterprises should evaluate the impact, and ROI that intent can drive, and explore how to atomise intent in their digital demand generation campaigns.
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