Why use Intent Data for B2B Marketing?

Intent data is a way to look at the digital footprint created by a user's browsing behaviour across the web. It's value is unquestionable in targeting potential buyers, as the data can help determine if they are definitely "in-market" or just the digital equivalent of window shopping: "I'm just browsing, thanks" 

Of course, it is safe to assume that if you're reading this, you already know about intent data. But perhaps you're not yet convinced of its value and efficacy?

Here then is our explanation of why you should do everything possible to make use of Intent Data in your B2B Marketing campaigns.

What is Intent Data?

Before we dive in deeper, let's make sure we get the basics right. We assume that you know something about intent data otherwise you wouldn't be here, but we also need to look after those who may be new to this game.

Intent Data is information generated when an individual’s interest and online behavioural-based activity is used to determine their interest in certain topics, products and services. Whew. This intent can be inferred using a variety of analyses and is based on data accessible via your own online properties (referred to as first-party data) or elsewhere on the web (known as third party data). In short, whenever someone or a group of people need to find a solution, solve a challenge or answer a question, like most of us they'll begin with an online search which will generate keywords, lead them to relevant articles, and then they'll visit sites which have products or services which match their query and they may even download or sign up for more information. All of this behaviour generates the digital footprint we mentioned earlier. 

A simple example could be someone looking to buy a new smartphone. They'll probably start with a search engine like Google, and type ‘smartphone’. This query shows that they're interested in this topic and is a form of third-party intent data, but not enough to indicate interest in buying, yet. They might be looking to fix and issue with their phone, look for the location of a place to buy one or be seeking reviews. The first search may lead them to a more detailed one, for example they may then type "best smartphone to buy right now" which could lead them to a series of review pages. Perhaps they then look for "best smartphone to buy in USA". Based on that search and the subsequent results, they visit a smartphone retailer's website. 

The data generated from this search comes in multiple forms. Let's imagine that we're a US smartphone retailer and they landed on our site, but the user is in the UK:

1. The first search shows an interest in smartphones. This is third party data which is unlikely to help us generate much useful intent data.

2. The second search shows they are interested in buying right now. This is third-party intent data based on their intent to purchase.

3. The third search provides geographic interest both in their location and where they have shown an interest. When they come to our site we then have first-party intent data on this user.

In the example three above, we should keep in mind that the intent data we have gathered is not just related to their smartphone. If they're searching from the UK and specifying a phone they want in the US, we could also infer that they may need a phone plan because they are travelling or may be moving countries. This type of intent data is often the most powerful as it helps provide the most suitable offer for the user, which can form part of delivering a seamless and delightful experience. 

How can we use Intent Data?

Unless we're unscrupulous and use some sneaky (and illegal in the UK, Europe and parts of North America) methods, if we're only able to access third party data, then the identity of the actual user will probably be a mystery to us. This mystery limits the avenues open to help the customer complete their purchase through the seamless and delightful experience mentioned above. The options available at this stage include:

Newsletter Sign-up

We could encourage them via on-site messages to sign up to our newsletter or other communications by offering a discount off a smartphone purchase, possibly triggered by their search. This is using third party data (the search that lead them to our page) and first-party data (the page they are browsing on our site) to allow us to identify them as a user (by adding them to our email database) and better target them in future.

Pop-up Offer

We could provide a pop-up that offers them a phone plan that includes a phone. This is using third party data (the search including geography that lead them to our page) and first-party data (the page they are browsing on our site) to provide them with an offer that matches their specific needs.

Retargeting

We could retarget them via ads in their browser across the web as they continue their search. This is using third party data (the search that lead them to our page) and first-party data (the page they are browsing on our site with re-marketing cookie/pixel).

First party data vs Third party data

First-party data is the gold standard for precision in B2B marketing. Whether collected through your website, app, or CRM systems, it offers unparalleled insights into customer behaviours and preferences specific to your business. The biggest benefit of first-party data lies in its accuracy and relevance, which means it is crucial for personalized marketing strategies to resonate deeply with your target audience.

That isn't to say that third-party data lacks value. By its nature it provides a broader landscape, pulling from a vast array of external sources like data aggregators, public records, and social platforms. While it expands your reach beyond the immediate circle of your business interactions, it does lack an immediate connection to your specific goals. This can introduce a layer of uncertainty regarding its relevance and reliability. However, when used judiciously, the broadness of third party data means it can be used to augment the first-party information. In this way you build a funnel of those that move into the holy grail of first-party data as well as filling in the gaps in your audience to provide a more complete picture of market trends and new opportunities.

Your entire ability to effectively leverage intent data means leveraging the strengths of both types. Use first-party data to deepen engagement with known prospects and third-party data to identify and reach new potential leads. Together, they empower a more informed and strategic approach to your marketing.

What does Third Party Data mean for B2B companies?

You probably already track activity on your website, allowing you to understand who is finding you and how. And if you have an effective funnel to bring them into your database at minimum, you should ensure you can take advantage of this first party intent data. How do you then augment that first-party data with what you can access from third parties? 

The issue here is the anonymity. You can infer a lot without knowing who the potential customer is, but collecting this additional information and behavioural signals provides the ability to target prospects much earlier in their buying process.

Implementing third party Intent data helps your sales and marketing team focus their efforts on the right people at the right time. They’ll understand who to contact and who to target with paid activity which reduces the guesswork. It also means you'll be able to identify early buyers’ interest by collecting purchase intent signals that you would otherwise miss. In turn, enabling your sales and marketing teams to start the nurturing process before prospects have even made initial contact.

Insights from third party data can also open avenues to retain customers, target or protect from competitors as well as understand if prospective buyers are engaged with your technology partners. When it’s used correctly, third party Intent Data can dramatically increase your qualified leads, shorten sales cycles and boost sales. 

Don't wait.

In business, sitting on the sidelines is not an option. Therefore, every moment you delay in harnessing the power of intent data, you forfeit opportunities to your competitors who are likely already in the game. Intent data isn't just a tool—it's a game changer that propels your marketing efforts from reactive to proactive.

With first-party data, you have the golden key to unlocking deeply personalized customer interactions that build lasting relationships and loyalty. Augmented by the broader perspective of third-party data, you gain the ability to scout the horizon for new leads and emerging market trends, effectively broadening your reach and enhancing your strategic insight.

The integration of both data types enriches your marketing arsenal, allowing you to identify, understand, and act on potential customer intent with unprecedented speed and accuracy. This isn’t about collecting information for the sake of data; it’s about strategic engagement that drives conversion and fosters business growth.

So, don't wait. The cost of inaction is high in a landscape as competitive as B2B marketing. Start leveraging intent data now to refine your marketing strategies, find more potential customers, capture more leads, and ultimately, secure more sales. Embrace the data-driven approach today to sculpt a tomorrow where your business not only survives but thrives.

This dream doesn’t come hassle-free though, as you’ll need to know what type of data is right for you and how to implement it. That’s where Accelera can help. Ready to learn more? Schedule a free assessment here.