Engagements and conversions are the two elements that determine whether a company’s marketing plan succeeds or fails. Behind the covers, there is one more element: branding, which contributes to the first two elements over time. The converse is true: the more a company’s brand visibility, the more engagement and conversion rates it will produce.
Here, the question arises, how to increase your engagement and conversions? What is the role of intent data in that? Let’s understand and bring the clear picture out of all this.
Evolve BPM is a major and core marketing consultant and service provider that helps its clients in running campaigns and even designs marketing and conversion strategies. They offer their services to all types of business whether large or small scale. Additionally, they are also open to run large online marketing campaigns for businesses.
Their average email campaign click rate used to be about 2-3 percent, and the percentage of respondents that downloaded their contents was around 0.6-0.8 percent. If you ask any marketer, those are respectable figures.
Now, let’s just go through the need and importance of intent data for marketers.
Indent data shows which leads or accounts are looking for specific services on third-party websites. When a buyer is considering purchasing a solution or service, they conduct research online. Before you have ever had a chance to engage with them, they have already narrowed down their possibilities. Consider what you would do if you knew your prospects were looking for a solution like yours as soon as they started the process.
With these behavioral signals in hand, sales and marketing teams can favor accounts that are jumping on key subjects over equally qualified customers that aren’t showing intention. B2B intent data, when used effectively, increases conversions and sales.
With the use of intent data, sales and marketing teams can identify accounts or prospects who have conducted internet research on relevant topics to their service, such as product reviews, infographics, and blogs, product comparisons, Quora questions, case studies, and general news.
Organizations that can gather and utilize online intent data can contact buyers considerably early in the cycle, helping them through the decision-making process before their competitors are even aware of their prospect’s interest.
For businesses, buyer intent data can be useful in two stages-
Marketers typically develop products based on current trends or features/use cases of their products and services. They gain a far more powerful option with intent data. Once you realize what your potential consumers are looking for, you can develop things around those issues that will get momentum.
These may not be major topics or receive a lot of traffic, but they might interest buyers and are more likely to result in conversions. Because they are highly focused and address specific touchpoints, these content pieces are extremely effective in email marketing, social campaigns, and paid remarketing.
Intent data can help you develop a superb list of prospects with highly targeted specifics once you’ve finished creating the relevant content. Apart from leveraging firmographics filters such as business size and revenue, intent subjects can be used to narrow the list down to active buyers.
Typically, not more than 10% of customers are actively searching to purchase a product or service at any given time. That’s one of the reasons why broad efforts fail to engage people and generate conversations. However, implementing intent filters allows you to identify the 10% of active purchasers and ring them up.
Let’s say your organization is in the business of selling accounting software. If you use filters to get your perfect client profile, you’ll obtain hundreds or thousands of results depending on your target market. Who, on the other hand, are the active buyers? Occasionally, the sales team may pick a few numbers at random and begin pitching. That is why conversion rates are often low.
The list of companies actively searching for accounting software or your rivals would be significantly shorter if you used intent data and applied filters to get a list. These are all the people you should be focusing on. Running targeted advertising solely for these accounts, combined with personalized content, would produce greater outcomes versus going after the overall market. In a sense, this is how businesses must use intent data to maximize its value.
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