Only 15% of people are ready to buy at any given time, so that means that 85% of people are not actively ready to buy — making lead nurturing difficult unless you're targeting that 15%. Collecting marketing data for all prospects is essential, but focusing on customers' needs with data intelligence provides a competitive edge and helps build a consistent pipeline for sales.
Considering those who optimize their pipelines see 28% higher revenue growth, there's no time to waste in getting more familiar with B2C/B2B intent data. To ease your stress in research, we have the scoop on what you need to know about buyer intent data and marketing intent data.
85% of Prospects Aren't Ready to Buy
According to Bombora's intent data, 15% of buyers are in-market at any given time, while 85% aren't in any active buying stage. That is where intent data not only reveal a shocking truth but can also act as your solution to the problem. Targeting buyers who aren't ready is a waste of resources, and collecting intent data can help you avoid it.
Targeting people unprepared to buy often comes off as annoying, so sending emails and targeting them isn't the best use of resources. Whereas your intent data can help convert the 15% of bottom-of-the-funnel prospects by gauging their active interest and preferred channels for reaching them.
How Intent Data Finds In-Market Buyers
Intent data is a set of behavioral signals that shows the intention of your prospects to purchase. Prospects search online, consume content, write reviews, and leave a digital trail of buyer intent signals that show their interests. Using the insight you gain from following that digital trail of buyer signals, you can locate in-market buyers in the final stage of their buyer journey.
As the famous saying goes, timing is everything, which is particularly true regarding your sales funnel. Buyers circling the bottom of the funnel can quickly choose a competitor tracking their intent signals if you're not doing the same (and acting on that data, of course!). Take what you've learned and use it to close the deal.
The Value of Intent Data
Knowledge is power, as the other saying goes, and you won't have the knowledge you need without the intent data that supplies it. Here are the top benefits of intent data that make it valuable to your business.
Streamlines the Buyers' Journey
Did you know that 63% of Digital Marketing leaders still report struggling with personalization? That is because they don't have a holistic view of their ideal customers. Combining purchase intent with other buyer intent data provides a complete view of customer insights. The value of B2B data is that it supports that insight and achieves business objectives throughout the funnel.
Determining Purchase Intent Leads to Conversions
Buyer intent data is another valuable asset because it broadens your understanding of buyer interest in your solution and how close they are to making a purchase. These two go hand in hand since your targeting efforts vary depending on whether you have an interested customer who needs more information before buying compared to a customer who researched for themselves, is interested in your solution, and is ready to buy. Knowing when a buyer is in that latter phase will be a game-changer for getting them to take action.
Improves Customer Engagement
The value of intent data is that it tells you to use retargeting ads or email campaigns to nurture leads once the prospect sends a signal or completes a form. It ensures that the receiver is more inclined to engage because the ads and emails are more relevant to their buyer stage and interests. A 2021 Amazon survey found that 88% report engagement with ads that suit their interests, and 89% report engagement with ads that reflect their life stage.
Can Become Sales Qualified with Nurturing
With the help of intent data, you can better identify opportunities for a sales-qualified lead at the right time. These leads have been as vetted and researched as possible and are ready for the next stage of the sales process (i.e., talking to the sales team). Since research shows that despite having at least 25% of leads qualified and ready to advance to sales, 79% never convert—nurturing those leads using the intent data you collect can avoid this problem.
Taps into Prospects Earlier in Their Buying Journey
Get a leg up on your competition by detecting intent signals fast and engaging the prospect early in their buyer journey. In an environment where most companies know the value of collecting data and reaching out to online searchers in the sales funnel, it's pertinent that your brand is among the first they see. Otherwise, you risk losing out on the opportunity — and the sale.
Never Miss Out On the Opportunity When You Partner with McClatchy.
McClatchy will help you get your hand on the 15% of buyers ready to purchase while nurturing (and speeding up the process of) the 85% that isn't ready yet. To learn more about the importance of intent data and what it can do for your brand, contact our experts and read more about it on our blog!