By
Jyoti Tejpal
Collect data about target audience, Tract account progress along the marketing funnel, Measure success with one platform
SaaS solution Enables sales & marketing businesses Databases via AI to generate actionable insights & leads Helps combine business data via machine learning, web crawlers, AI
B2B company to engage target accounts Expand customer relationships Deepen sales-and-marketing alignment Engage target accounts Expand customer relationships
Buyer Intent Software offers third-party external customer data to assist the product marketers to get and create more targeted decisions. Buyer intent software permits businesses to get the insight on a customer’s buying intent through features such as predictive analytics, customer journey mapping, and competitor data. The software can analyze buyer intent for B2B lead generation to target intended prospects. It can also permit companies to customize and create content marketing.
Essentially, a business can gain insight to clients in two ways: via internal data and/or external data. Using the organisation’s internal data, one can go through what the customers do on the site(s), like their journey across downloads, owned content, leads data from forms, time on site, and page views.
However, in addition to what you can see with own site data, you may also require to see how the customers behave externally—like how they interact with competitor sites, or other content across the web. This is where third-party, external data comes in the form of buyer intent software. The software aggregates data from publishing co-ops, advertising networks, and individual sites. Buyer intent data is gathered via what a user types in search, the content they consume, and the public postings and comments.
While comparing buyer intent software, it is important to know the typical functionality offered. The common features of buyer intent software are given below.
Intent data : Viewing data results which indicate future customer interest in products.
B2B lead generation : Managing the process of attracting and converting business prospects into leads.
Competitor analysis : Evaluating strengths and weaknesses of businesses with the target audience.
CRM integration : Integrating with the customer relationship management (CRM) software to better connect all aspects of the organisation.
Lead scoring : Scoring a lead on the quality or likelihood to purchase based on the certain behaviors.
Channel attribution : Creating a set of rules which assigns credit for sales and revenue to touch points across the clients journey.
Understanding typical companies who buy Buyer Intent Software can assist to figure out whether it is right for the organisation.
B2B. B2B organization invest in buyer intent software. B2B companies, more precisely, who launch account-based marketing (ABM) programs require intent data in order to create successful target audiences.
Midsize to large businesses with complex sales processes. 75% of mid-sized to large businesses will launch ABM programs by the end of 2022. Thus, types of companies would likely also require Buyer Intent Software.
High tech. ABM is a newly emerging strategy and many companies investing in the programs are in the high-tech and related industries. Buyer Intent Software is seeing growth in the business services, manufacturing and finance industries.
Buyer Intent Software can create advantage for the companies in a key ways :-
Account-based marketing. Account-based marketing means a business targets a particular audience representing a particularly high growth opportunity with a much more tailored approach, as opposed to casting a wider net to a broad audience. Having solid buyer intent, data assists a organisation create better target accounts.
Content marketing. Buyer intent data can permit content marketers to target buyers who are at various stages of the buying journey. Content marketers who know what stage a buyer is in can serve the right content at the right time, helping the buyers make better buying decisions.
There are also some potential concerns with buyer intent software:
Privacy. There is always a concern with online consumer data collection. Regulations keep on changing the way marketers can handle data. It is required by the users to offer consent. As intent data is done at company-level and anonymous, it must not cause problems for compliance with GDPR or CCPA.
Skills shortage. Not all marketers currently utilize ABM to be a strategy because it’s so just growing and upcoming. Thus, marketers might not have the perfect skill set to launch an ABM program, and lack experience working with buyer intent platforms. As a result, there is always a lag in adoption as professionals grow up to speed.
Organizational change. Successfully performing ABM or content marketing strategies needs inter relativity between all the departments and management purchases. As all the organizations are used to traditional marketing, it is difficult to change the tech mindset to support the use of buyer intent data.
Buyer Intent Software Trends
Buyer Intent Data Software buys will likely get higher in the coming years as buyer intent data will become a important ingredient for targeted marketing. And also, as content marketing continues to get targeted more than ever, buyer intent data will be required to get and reach out to the buyers at the specific stage in the buying journey funnel. Necessarily, as digital tracking heightens, the push for buyer intent data will also increase, as both of them go hand-in-hand.
