Freddie Marryat, Marketing Manager, EngageIQ

Right now there are dozens, if not hundreds, of companies matching your ideal customer profile who are hunting for a solution just like yours.

Wouldn’t it be great if you could find out exactly who they are and how best to contact them? Lucky for you, there’s a way to do just that.

If you don’t know what I’m referring to, you’ve probably already lost ground to your competitors because it’s the fastest-growing solution in B2B marketing and sales tech stacks.

So, how can you stay ahead of the curve and make sure you’re first to throw your hat in the ring when the perfect company needs your product? Read on to discover the power of purchase intent data.

What is B2B Purchase Intent Data?

B2B purchase intent data is any data that can be used to predict how likely a company or account is to purchase your solution (or take any other action). Often, intent data is quantitive and inferred from the way a user behaves online — the websites they visit, the pages they look at on your site and the documents they download. But intent data can also be qualitative and explicit, declared by the buyer when talking to a marketing or salesperson.

Purchase intent data is very common in a B2C marketing context. Given that you’re dealing with single users rather than entire companies, it’s often easier to use analytics data to predict just how likely someone is to make a purchase.

But it’s even more value in B2B markets. Most B2B solutions aren’t cheap, and so decision-makers are unlikely to make impulse buys or purchase something that hasn’t already been discussed and budgeted for. If your team can get in front of them early, you have a fantastic chance of closing the deal.

Why is B2B Purchase Intent Data so Powerful?

It almost goes without saying that being able to tell just how likely a prospect is to make a purchase can be incredibly useful. But let’s explain exactly why.

Speed matters in marketing and sales. The quicker you can reach out to accounts when they are thinking of making a purchase, the more likely you are to close them. STAT. If you’re able to track intent over time, you can also map data to your marketing and sales funnel, helping you to serve content at the right time, too. 

Purchase intent data can also give smaller teams an edge. When you know which companies are most likely to make a purchase, you can focus your resources where they matter. You can focus your resources where it matters. Particular attention can be paid to those organisations who have shown strong purchase intent. Sales and marketing teams can even take a personalised, account-based approach to those businesses to give them the best chance of closing.  

Don’t forget buyers’ expectations are also increasing. The vast majority of B2B decision-makers expect a personalised approach. If resources are tight, then knowing who’s most likely to convert can significantly increase your ROI. 

It also helps marketing and sales teams set themselves apart from the competition. So often, marketing teams are focused on purely historical data. But intent data is forward-looking, allowing teams to take a proactive approach to their marketing efforts and target companies and sectors currently ignored by competitors.

How Can You Use B2B Purchase Intent Data Across Marketing and Sales?

Wherever you sit in your organisation’s marketing or sales department, purchase intent data can give you an edge.

Find New Leads

It doesn’t matter how good your marketing team is; you’re not going to be able to reach or speak to every potential customer. In fact, you might be ignoring whole markets entirely. That’s the beauty of purchase intent data, it immediately hands brand new leads to your sales teams, while helping your marketing team to find potential new markets. 

Empower Account-Based Marketers

Are you running account-based marketing campaigns? Whether you lack resources or direction, purchase intent data can provide the kickstart you need. When you know which prospects are more likely to convert than others, you can focus your outreach efforts and make sure you’re paying the right amount of attention to the most important accounts. The faster you can speak to a prospect and the more attention you can devote to them, the more likely they are to close. 

Purchase intent data also lets your inside sales team (or whoever is running account-based marketing efforts) start their outreach efforts much sooner than they otherwise would. 

Focus Your Marketing and Sales Efforts

Unless your organisation has incredibly deep pockets, it’s unlikely you have the resources to effectively market and prospect to the vast number of potential organisations on your lists. 

Purchase intent data is the perfect way to narrow your focus. Whether that’s targeting your digital ad spend or shortlisting your SDR’s prospect list, focusing on the prospects most likely to convert can send conversion rates, ROIs and morale levels soaring.  

Improve Personalisation Efforts

Personalisation is an essential part of B2B marketing. But whether it’s marketing or sales, effective personalisation is incredibly hard work. 

Smart marketers and sales staff can use purchase intent data to supercharge their personalised outreach efforts. Not only can you focus your efforts and take time to research high-intent prospects thoroughly, but you can also use the data itself to personalise your outreach efforts. 

Improve marketing and advertising campaigns

Marketing teams can use purchase intent to better understand high-quality prospects and adapt their campaigns as a result. For example, let’s say that purchase intent data uncovers several promising companies in a previously untapped sector. There’s every chance that other companies in this sector will need your solution now or in the future. As a result, a new marketing campaign can be launched that specifically targets this sector. 

Purchase intent data can also help your content marketing efforts. When you understand precisely who your prospect is and what part of the buying journey a prospect is at, you can make sure you are always creating content that solves their specific problems and serve it to them at the right time.

Why is B2B Purchase Intent Data so Powerful?

It almost goes without saying that being able to tell just how likely a prospect is to make a purchase can be incredibly useful. But let’s explain exactly why.

Speed matters in marketing and sales. The quicker you can reach out to accounts when they are thinking of making a purchase, the more likely you are to close them. STAT. If you’re able to track intent over time, you can also map data to your marketing and sales funnel, helping you to serve content at the right time, too. 

Purchase intent data can also give smaller teams an edge. When you know which companies are most likely to make a purchase, you can focus your resources where they matter. You can focus your resources where it matters. Particular attention can be paid to those organisations who have shown strong purchase intent. Sales and marketing teams can even take a personalised, account-based approach to those businesses to give them the best chance of closing.  

Don’t forget buyers’ expectations are also increasing. The vast majority of B2B decision-makers expect a personalised approach. If resources are tight, then knowing who’s most likely to convert can significantly increase your ROI. 

It also helps marketing and sales teams set themselves apart from the competition. So often, marketing teams are focused on purely historical data. But intent data is forward-looking, allowing teams to take a proactive approach to their marketing efforts and target companies and sectors currently ignored by competitors. 

How Can You Use B2B Purchase Intent Data Across Marketing and Sales?

Wherever you sit in your organisation’s marketing or sales department, purchase intent data can give you an edge.

Find New Leads

It doesn’t matter how good your marketing team is; you’re not going to be able to reach or speak to every potential customer. In fact, you might be ignoring whole markets entirely. That’s the beauty of purchase intent data, it immediately hands brand new leads to your sales teams, while helping your marketing team to find potential new markets. 

Empower Account-Based Marketers

Are you running account-based marketing campaigns? Whether you lack resources or direction, purchase intent data can provide the kickstart you need. When you know which prospects are more likely to convert than others, you can focus your outreach efforts and make sure you’re paying the right amount of attention to the most important accounts. The faster you can speak to a prospect and the more attention you can devote to them, the more likely they are to close. 

Purchase intent data also lets your inside sales team (or whoever is running account-based marketing efforts) start their outreach efforts much sooner than they otherwise would. 

Focus Your Marketing and Sales Efforts

Unless your organisation has incredibly deep pockets, it’s unlikely you have the resources to effectively market and prospect to the vast number of potential organisations on your lists. 

Purchase intent data is the perfect way to narrow your focus. Whether that’s targeting your digital ad spend or shortlisting your SDR’s prospect list, focusing on the prospects most likely to convert can send conversion rates, ROIs and morale levels soaring.  

Improve Personalisation Efforts

Personalisation is an essential part of B2B marketing. But whether it’s marketing or sales, effective personalisation is incredibly hard work. 

Smart marketers and sales staff can use purchase intent data to supercharge their personalised outreach efforts. Not only can you focus your efforts and take time to research high-intent prospects thoroughly, but you can also use the data itself to personalise your outreach efforts. 

Improve marketing and advertising campaigns

Marketing teams can use purchase intent to better understand high-quality prospects and adapt their campaigns as a result. For example, let’s say that purchase intent data uncovers several promising companies in a previously untapped sector. There’s every chance that other companies in this sector will need your solution now or in the future. As a result, a new marketing campaign can be launched that specifically targets this sector. 

Purchase intent data can also help your content marketing efforts. When you understand precisely who your prospect is and what part of the buying journey a prospect is at, you can make sure you are always creating content that solves their specific problems and serve it to them at the right time. 

How to Find Purchase Intent Data

There are two ways your organisation team can find and use purchase intent data. 

Use Your Own Data

Most marketing and sales teams have an unholy amount of data at their fingertips. But they’re not always using it in a way that helps them assess the intent of prospects. One solution is to track the behaviour of users on your site carefully. By incorporating third-party tracking tools, like Google Analytics, marketers can track how specific users move around your site, the pages they click on and the content they download. 

This method isn’t perfect, though. Users can only be identified when they download a lead magnet and hand over their details. Not every high intent prospect is going to land on your site, either, let alone download a lead magnet. 

Buy Third-Party Data

If you’re serious about working with B2B purchase intent data, then working with a third-party provider is going to be absolutely critical. As we’ve seen above, there’s only so much you can do with your own data. When you enlist a third-party, however, you can get data from dozens, hundreds or even thousands of different sources. In doing so, you’ll get data on a much broader range of prospects and get a much more accurate view of each of them.

Market-Leading Purchase Intent Data From EngageIQ

If you’re looking to supercharge your marketing and sales efforts with purchase intent data, leveraging EngageIQ is a must. We combine the qualitative purchase intent data that we gather from 20,000 calls per week with machine learning technology to deliver new opportunities to your team every single month.  

We don’t just provide the name of the company, either. Our data is so extensive that we’re able to give the name of at least one decision-maker, a direct dial and the best time to call each prospect on almost every single opportunity. 

Best of all, you can use the data in any way you want. Hand it straight to inside sales agents to grow their pipeline or use it to optimise marketing campaigns or discover new markets. The potential of purchase intent data really is enormous. 

 

Images by: Stephen Dawson, Austin Distel, Lukas, rupixen.com, Serpstat