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Correct timing is the be all and end all of B2B sales. If you succeed in contacting a company exactly when they want you to contact them, the chances of closing a deal are excellent. In this article, we show you what intent data is and how you can fine-tune and perfect your timing and control of when and how you make contact.
Why do certain sales teams succeed more than others? Why does it seem they’re always a step ahead and have a sharp nose for successful sales leads? Of course, experience, persistence and a certain instinct play a role. But in the end, it’s always about using data and information. Forrester says use of data and insights is
a key factor in B2B sales success.
And ever more important are behavioural data — especially intent data. It provides insights on what your target group is currently involved in, what topics they’re doing searches on, and what their needs are. Marketing and sales organizations that employ intent data use it to detect currently existing sales opportunities. They know which companies need their products now.
That’s the best time to start the conversation. Because these companies’ decision-makers want to hear from you right now.
So, we’ll be answering the most important questions on intent data, starting with a definition of the term.
Intent data is behavioural data. It shows when and if companies are active on the Internet searching for solutions, and which products and services they’re interested in. Intent data is based on web content that companies call up and consume from the Internet.
There’s a distinction between first-party and third-party intent data. In principle, it’s the same data and information. It tells you what is occupying companies and decision-makers on the Internet.
The big difference between first- and third-party: With first-party, you get the data from your own channels. It tells you what visitors to your website or other channels are engaging with. You get third-party intent data from a provider. This information tells you what companies are engaging with on websites and online channels of third parties.
First-party intent data is information that you collect from your own channels about your target audience or customers. Examples include participation in campaigns, content downloads or filling out contact forms. An example: A prospect visits a product page and gets price information. This is a good indicator that there is concrete interest and that the company should be contacted immediately.
Third-party intent data is made available by specialized providers. In contrast to first-party intent data, it shows you behaviour of companies not only at your own sites, but also on other websites. For example, if you want to know who has been getting information from specific technical pages or online forums on products you offer, third-party intent data delivers exactly this information.
It’s important to choose a trustworthy partner, who on the one hand holds to data protection regulations, provides transparent information on survey methods, cooperates with meaningful websites and gets their data from them.
Intent data enables you to qualify sales leads. Qualification is a central task in lead management for identifying those companies that currently have major sales potential, high closing probability and a short sales cycle. Intent data helps sales organizations contact leads at the right moment. That means exactly when they’re browsing for the products or services that you or your competition offer.
An example: You sell CRM solutions. You’re interested in any potential client companies that are getting information from forums or websites on CRMs. Intent data gives you exactly that information.
Intent data providers Bombora and Forrester Consulting investigated this question and did a study ((https://bombora.com/resources/the-total-economic-impact-of-bombor)) to measure the business benefit and ROI. The results show that the benefits of intent data are effectively measurable and positively affect operating results and sales efficiency.
Illustration: Companies that use intent data have an 18% higher conversion rate in B2B sales, 30% faster sales (more closings in the same amount of time) and 10% fewer cancellations. Source: https://bombora.com/resources/the-total-economic-impact-of-bombora
An example in the study shows that the increased revenue from using intent data can exceed the cost by multiples. In one specific case, the ROI for the first three years was 342%.
Intent data from Bombora is available as a new add-on to D&B Hoovers. Our product page shows you everything about the D&B Hoovers sales intelligence platform and includes a free trial.
Bombora obtains data on more than 4,000 B2B websites through consent-based cooperation. Seventy percent of these partner pages work exclusively with Bombora, and all adhere to data protection regulations.