Implementing Purchase Intent Data to Supercharge Your Sales Funnel

Sales | 5 minutes to read

10th Feb, 2022

Purchase intent can help enterprises tap into the undiscovered demand and drive a higher volume of qualified leads. However, due to limited technical and human expertise, many enterprises fail to implement the intent data successfully in their sales enablement campaigns. Find out the best-fit solutions to eliminate those challenges and bolster the lead pipeline.

Snapshots:

    • Purchase intent is critical for businesses to identify active buyers in the market and reach them with the right messaging at the right time

    • Businesses often fail to analyze the information stored in intent data and implement haphazard practices paralyzing their sales enablement campaigns

    • They can leverage a series of best-fit practices, training, and techno-enablement to overcome those challenges

    The purchase intent data network is advancing quickly due to the rising number of data sources and b2b data providers available for companies. Purchase intent data can help enterprises tap into the undiscovered demand and effectively use it to drive a higher volume of qualified leads through the pipeline. As a result, enterprises are increasingly adopting it into their existing go-to-market strategies. However, despite the sustained growth in purchase intent data, organizations are still unsure how to adjust or optimize it for the desired business results faster.

    Enterprises often fail to analyze the information stored in the intent data and implement haphazard database management practices. This leads to the loss of key sales data and potential business opportunities and paralyzes sales enablement efforts. But the good news is that enterprises can overcome these challenges either by implementing a tech-led database maintenance engine or enlisting the services of b2b data providers. On that note, let’s look at some common challenges and solutions on how to overcome them:

    #1 Marketers fail to identify the information contained in the intent data

    The first and foremost step to successfully utilizing the purchase intent data comes before the marketers select it and introduce it in their systems and processes. To derive insights from a particular data source (to make the data can be made useful), marketers must understand the context and interactions from which it was generated. The most actionable purchase intent data empowers the marketing and sales reps to analyse the real buyer persona behind it and their probable actions. Other data sources might not give marketers a view of the context of the behaviour, the identifiable people involved, or the actions of the individuals. Many sources only offer hints of customer behaviour at the account level.

    For example, first-part intent data obtained through an enterprise’s owned and operated internet properties and other customer touchpoints will show more contextual visibility. Furthermore, enterprises can also leverage b2b data providers to source third-party intent data. It will give them a better understanding of customer activities happening at the individual level.

    For enterprises who are already using purchase intent data or looking for different b2b data providers, here are a few critical questions they can ask to assess what they want from it:

    • How can the intent data help identify which accounts are currently in the market?
    • How will it help establish who at a given account is actually involved in the overall buyer’s journey, and how are they relevant to the organization’s goal?

    #2 Enterprise’s complex tech stack isn’t designed to handle fast-evolving behavioural data

    Since the use of buying intent is relatively new, many of the technology stacks and the processes are not designed to leverage it effectively. While there are no easy ways to handle such data, there are some strategies that can help marketing and sales reps to build positive momentum from the start to achieve desired outcomes. Organizations that have just started to use the purchase intent data must work from both ends of their go-to-market value funnel. This means that they must get their marketing and sales teams to use the intent data concurrently.

    It is understandable that marketers might be wary of this new data category and would like to move slowly till the time they get comfortable with it. They might segregate it as yet to be engaged contacts and then slowly begin to drip nurture them. But, since this strategy takes a longer route to move contacts down the qualification funnel, it would limit a campaign’s success with only a few conversions coming out at the other hand. On the contrary, enterprises achieve better results when they involve their sales resources early with the purchase intent data. This can be achieved by allowing sales reps to log directly into the intent data system and employ active researchers. In this way, sales reps can progress faster even if the marketing nurture may not have provided significant MQLs. Hence, it is crucial for organizations to involve sales teams parallelly with the marketing teams to leverage the intent data.

    #3 Haphazard implementation of purchase intent data 

    Enterprises must clearly understand the specific and granular objectives that both marketing and sales teams want to prioritise from the start. This is the most crucial prerequisite for successfully implementing the purchase intent data within a company’s sales enablement campaigns. It is also mandatory for the enterprises to provide adequate content and hands-on training to the teams that will use the intent data. Also, it is important that enterprises allow their revenue enablement teams to scrub the intent data on a regular basis to score desired results in the future.

    Marketers can use the individual buyer’s activities to build more result-driven online lead generation campaigns. They are no longer restricted within the confines of persona models and limited function and role filtering.

    Conclusion

    Though it might seem complex, purchase intent data will be a real game-changer for enterprises looking to maximize revenue in 2022. It is a collection of an individual’s behaviour that gives sales reps the ability to anticipate and analyse customer needs. It also helps identify active buyers in the market and reach them with the right messaging at the right time. They are, however, faced with a number of bottlenecks that hamper the successful implementation of purchase intent in their online lead generation and demand generation campaigns. Overcoming those challenges will require them to align their sales and marketing functions, and provide them hands-on training and technical know-how.

    Contact our database experts to source accurate & real-time purchase intent data to kickstart your b2b lead generation campaigns.

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