Intent data is a digital footprint created by your online actions across the internet. It captures an individual’s interest and online behavioural-based activity, whether this happens on your own online properties (1st Party Data or Internal) or elsewhere on the web (3rd Party Data or External). In short, whenever someone or a group of people need to find a solution to solve a challenge, they tend to start online by searching keywords, reading articles, visiting websites and downloading information. This is where their digital footprint is created.
In its simplest form, here is an example: let’s say you’re looking to buy a new smartphone; you will most likely start by visiting a search engine, and the moment you start typing ‘smartphones’, you’ve shown online buyer interest, otherwise known as ‘Purchase Intent Data’.
What about 3rd Party Data and what it means for B2B companies?
As a company, you most probably track activity on your website already, allowing you to capture those interested in your brand. That is great, but imagine being able to target those prospects that are searching online elsewhere? They’re searching, but not visiting your website or social channels, so you have no idea that these prospects even exist! Well, that’s where 3rd Party Intent Data will work its magic. By adding it to your sales & marketing mix, you can collect additional information and behavioural signals that will give you the ability to target prospects much earlier in the process. Sounds exciting right?
By implementing 3rd Party Intent data, it will help your sales and marketing team focus their efforts on the right people and at the right time. They’ll understand who to contact and who to target with paid activity. No more guess work! This means that you will be given the ability to identify early buyers’ interest by collecting purchase intent signals that you would otherwise miss. In turn, this will enable your sales and marketing team to start the nurturing process before prospects have even made initial contact.
Insights from 3rd Party Data can also open avenues to retain customers, target or protect from competitors and know if buyers are engaged with your technology partners. When it’s used correctly, 3rd Party Intent Data will dramatically increase your qualified leads, shorten sales cycles and boost sales.
Don’t be too late in the game!
We know from various online research and reports that customers prefer to search online when trying to solve a problem and there are no signs of this changing in the immediate future, so businesses prepared to wait for their prospects to accidentally stumble across their website or recent campaign, may well be too late in the game to compete with their competitors.
In other words, your prospects are searching online right now for a solution that you offer. So how do you intercept buyers during the early part of their journey and ensure you don’t lose them to your competitors? You use Intent Data!
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 Media Effect can help. Ready to learn more? Schedule a free assessment here.