11th Mar, 2021
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- Intent data significantly shortens the path-to-purchase
- It provides insights to enable a simple route to reach target accounts, address their needs, and close deals
- However, b2b intent data needs to be optimized for business benefits.
Today Intent data is on every B2B marketer’s to-do list. Why? Because it allows sales and marketing teams to engage with the right prospects, even before their purchase intent is expressed. However, enterprises planning to buy database and use intent data for Account-Based marketing (ABM) or demand gen email marketing should also understand the complexities associated with it.
So, if Intent data is so vital to power ABM programs, where the challenges lie, and how organizations can cope up with them?
Challenge#1: Silos & Data Connectivity Issues Obscuring the Business Value of Intent Data
As per IBM, over 2.5 quintillion bytes of data are consumed each day across the globe. But the paradox is that only a few companies try to consolidate the available data from diverse sources. There are innumerable algorithms, protocols and languages, and data points that needs to be connected. Several errors arise when the data is converted from one form to another. Because of these resurrecting errors, profiling of the data becomes difficult, and its business value is obscured.
Solution: B2B businesses need to prioritize start-to-end integration of technology & data sources for success. Scalable integration can intelligently wire data sources and establish a clean & complaint source of truth. Enterprises can opt for tech-based integration to make data transfers easier.
Robust & automated connectivity between different applications & technologies streamlines data exchange in a complex ecosystem. Swifter connectivity movement in-turn simplifies profiling and validation of data for actionable insights that bolster email marketing campaigns.
Challenge #2 Customisation
Marketers fail to understand that customizing marketing content to the needs of the target audience is vital for driving ABM or email marketing program’s success. Besides gathering data, organizations should segment data and implement it with the right degree of customization.
Solution: In case where first party data fails to close deals,B2B companies should combine first party and third-party intent data to achieve a wider perspective of their prospects. First party intent data just gives an idea of the onsite prospect behaviour. On the other hand, third-party data captures a broader range of data including insights on research activities. By creating content that attracts potential prospects in the research process, B2B businesses can outsmart their competitors and boost their ABM strategy.
Challenge #3 Achieving alignment
Aligning data with departments is one of the common challenges that enterprises face these days. Sometimes de-duplication errors make data transfer tiresome for both the sales and marketing wing. As the available data is different for sales and marketing, the coordination becomes difficult and they fail to leverage the intent data efficiently. The result is less revenue and reduced retention rates.
Solution: Sales and marketing teams need to establish a single source of truth for Account Based Marketing or centralized data for email marketing purposes. They should bring the target audience under a single lens. When they work on a single interface, and leverage same data, they can work more efficiently in a coordinated and orchestrated way.
Some other relevant blogs for quick read:
- Top Reasons why B2B Marketing Strategies Fail and Ways to Prime them for Success
- How to Build a Marketing Database and Configure it for Success in 2021 & Beyond?
The bottom line
From the peak-of-funnel branding strategies to post-sell customer activities, intent data stands to be a valuable tool to maximize nearly all ABM efforts. However, enterprises that are thinking about planning to buy b2b intent data to support their ABM strategies, should make sure to consider ways to leverage it in most efficient ways. Intent Data is a long-term investment just like compound interest. Best B2B intent data is optimized with modern-day AI, ML, and NLP techniques like whitespace discovery, database management, etc. This advantage hikes conversion rates at each stratum of the funnel, resulting into massive profits.
Want to leverage B2B intent data, and edge out the competition? Call us Now or Book a Consultation!