Exploring Intent Data's Significance in Business Strategy

Exploring the Significance of Intent Data in Business Strategy

Intent data gets sold like a crystal ball. It is not. What it is can still be useful: a set of signals that helps you understand which accounts are showing interest, what topics they care about, and where sales and marketing should probably focus before they waste energy on the wrong people.

The catch is that not all intent data means the same thing. Some of it is strong. Some of it is noisy. Some of it is basically a vendor charging you money for a very confident shrug. So it helps to understand the continuum.

The Intent Data Continuum

Capturing all potential data points a buying group may take on the path to purchase is almost impossible, especially with buying groups having up to 23+ different stakeholders on average (Gartner). To leverage intent to find and target the right accounts, you need more than just your own data, though it’s a great starting point.

First-party intent data:

This is information collected about your audiences from your owned digital properties. Cost-effective and privacy-friendly, it lacks the scope and scale offered by third-party intent data. However, it ensures minimal privacy concerns as your company is responsible for data collection, storage, and retention.

Second-party intent data:

Often overlooked, it’s sourced from another organization’s first-party data. Main offerings come from software review sites and customer surveys. While strong predictors of purchase intent, they lack insights into top-of-funnel activity.

Third-party intent data:

Involves research and buying activity on channels owned by others, providing a broader market view. It reveals account interests and topics across the internet but doesn’t necessarily indicate buying intent. Though offering a large volume of buyer activity, it is less reliable compared to first-party intent data.

Starting with first-party data is better than nothing. Combining data sources becomes easier with tools like 6Sense, Demand Drive, ZoomInfo, Clearbit, etc. ZoomInfo emphasizes the synergy between intent data and Ideal Customer Profile (ICP) data, reducing noise and allowing businesses to concentrate on their best-fit accounts.

Ways Intent Data Enhances Strategy

• Tracking Topics: Monitor industry-specific terms and keywords in real-time, enabling targeted efforts towards interested accounts.

• Building Target Lists: Combine intent data with a robust B2B database to receive recommended contacts for outreach.

• Personalizing: Tailor marketing pitches based on prospect needs/research, using intent data to understand their buyer’s journey.

• Competition: Gain a competitive advantage by engaging with prospects early in their research, positioning yourself as the trusted expert.

• Shortening the Sales Cycle: Use real-time intent data to create campaigns that warm up prospects, resulting in better sales engagement and shorter cycles.

• Retargeting: Utilize intent insights to retarget ads and tailor email campaigns to address the target audience’s unique needs.

• Look-alike Intent: Analyze closed-won accounts to understand the intent topics that preceded successful opportunities, refining future strategies.

• Alignment: Ensure alignment between sales and marketing teams by using intent data to target best-fit accounts and prioritize efforts.

Intent data is most useful when it sharpens judgment instead of replacing it. Used well, it helps sales and marketing focus on the right accounts, align around actual signals, and create a more relevant buying experience. Used badly, it just gives everyone more dashboards and more excuses. Aim for the first one.