How to Select an Intent Data Vendor 

Not all intent information is compiled equal, and not all intent data suppliers are either. Use this guide to conduct a comparative study of intent data vendor capabilities in order to choose an intent-driven partner that is a good fit for you. 

Before the advent of digital, a large portion of the sales process would include making phone calls to businesses, hoping that the receptionist would connect us to the correct person the first time, and crossing our fingers that the decision-maker would consider our product the next time. 

Let’s flash forward to 2021. Even though the notion is still relatively new, just 28% of marketers across all sectors have an intent data plan today, despite that 70% of technology suppliers utilize buyer intent data for acquisition. This is because it greatly improves sales with little effort. 

Intent data is significant because it provides a comprehensive view of who your eligible leads are, everything they do, and what motivates them to make purchasing decisions. While used properly, organizations may tailor the way they contact potential clients, increasing the probability of a sale being closed. Knowing what they do, how they do it, and when they act offers marketers an advantage in contacting their targets with the correct information and tipping them into closure. 

Intent data may help your sales and marketing teams discover more about the clients who are entering, leaving, and advancing through your sales funnel. Your sales team can reach out to them and provide them with this market data with the help of market data providers. As a result, your marketing staff may set their sights to attract them. 

Unfortunately, not every intent source of data will be ideal for your business. Continue reading to discover the best things to know about B2B intent data vendors and how they can make your company create revenue. 

Before moving further, a short introduction about B2B intent data. Intent data is a collection of information that demonstrates what a customer is doing. Using IP addresses and online cookies, intent data analyses client activity. 

You’re undoubtedly aware that intent monitoring helps you to obtain a more thorough and in-depth understanding of your leads, prospects, and clients. 

infographic of intent data vendor

70% of B2B organizations say that using data is the most challenging problem when it comes to enhancing the customer experience. The very last thing you will need is false or erroneous data. 

The incredible thing is that several companies have sprung up to provide you with the best intent monitoring data available, and it only requires asking these questions. 

What to ask about Intent Data 

1. Is it genuine that the same companies provides intent data? Where do they acquire their information?  

Some B2B data suppliers may only share information gathered through their own sites. On the other hand, several may only work with a select few B2B hosting plans. Any reputable company should be able to provide you with at least a few referrals to back up their claims. Make sure to look into each of these resources separately. 

2. Is the intent data gathered from the internet at large or from a group of media companies? What are the intent data sources ?

It is pointless if your data is erroneous. Your company needs a dependable data vendor. As a result, enquire about how they assure data accuracy. Create a list of questions to ask, for example: 

  • Can you compare your data to what is publicly available? 
  • Have you had any filters in place to prevent free email domains from entering your system? 
  • Is it important to buy even if the information isn’t useful or accurate?

     

3. How do you collect buyer intent data? 

Content utilization is a significant indicator of customer intent, and the most convenient method to obtain this information is to purchase it from a third-party seller. These platforms collect an array of online research analytics for various B2B websites, media publications, and other sources as part of a data-sharing cooperative. 

4. What is the foundation of their intent score approach, and how relevant is it to the way your customers purchase? 

Intent Score is a technique for determining how eager a visitor is to achieve a conversion objective, such as a request for further information. The score is determined by their website visit behavior, stream of entry, and other contextual. A number between 0 and 1 represents the score. 

5. How Do You Connect Decision Makers to Company-Level Intent Data? 

3rd intent data solutions, for the most part, but not consistently, deliver insights at the corporate level rather than the contact level. This is due to various reasons, extending from intent-derivation methodologies to data-privacy legislation’s responsiveness. 

Clearly, marketers and sellers want more than just company-level data. That’s why leveraging intent to better target lead generation projects (like content syndication) is so beneficial – you obtain content-level data from intended message customers without violating data privacy laws. 

6. Where and how is Intent Data used in the Buyer’s Journey? 

Intent data may be used to support use cases ranging from the beginning of the purchase cycle (e.g., branding via programmatic advertising) to post-sale account growth initiatives (e.g., identifying when customers are ready to cross-sell). Intent data will aid almost every marketing, sales, or customer success activity that relies on understanding when a firm is “in-market” to purchase and what they’re interested in. 

Furthermore, intent data may assist you in determining where your target accounts are in their buyer’s journey. Analyzing your target accounts’ research activity against particular sorts of themes or keywords might reveal their pipeline status. 

While gathering intent data is difficult, what it allows you to accomplish is considerably simpler. Teams are able to: 

  • Prospects should be identified before they make a purchase. 
  • Prospects should be targeted and engaged early in the purchase process. 
  • Accounts should be prioritized depending on the intensity of their purchasing intent. 
  • In sales and marketing initiatives, use tailored messages to engage prospects. 
  • Turn prospects who would not have found your solution otherwise. 
  • Discover and keep customers who are on the verge of leaving.

     

Based on this information, we can identify the buyer’s interest in purchasing. Companies that use intent data must ensure that they are in compliance with privacy laws in their respective locations. The two most essential privacy rules that firms must obey are the GDPR and CCPA. 

Intent data will likely remain a significant component of marketing and sales. Intent data may be utilized to increase sales and drive clients along the marketing funnel in a variety of ways. Every business will have a unique approach to working with B2B intent data providers. It makes no difference whether it is the first party, the third party, or a combination of the two. We hope you were successful in finding a new sales-driving provider with whom your marketing and sales teams can engage. Good luck with your prospecting! 

Utilize these questions to compare the differences in your shortlist of solution providers’ intent-driven demand creation skills. To create success in campaigns and intent engagement, B2B businesses must study various crucial factors. If you have any questions concerning intent data, contact Mandit Solutions; we would be pleased to assist you.

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