The Secret to B2B Marketing Success…Intent Data
Intent data is information collected about a prospect’s online behavior that indicates they are interested in buying a product or service. This data can be used to identify potential customers who are ready to buy, and to target them with marketing messages that are more likely to be effective. Intent data can come from two sources: first-party and third-party. First-party data would come from sources such as your own website, and third-party data would come from sources such as social media or platforms like search engines.
B2B intent data is a valuable tool for B2B marketers. It can be used to identify potential customers who are actively researching or evaluating products or services like yours. This information can be used to target your marketing efforts more effectively and improve your chances of converting leads into customers.
Between B2B marketers that use intent data and those that do not, there’s a marked difference in the quality, effectiveness, and outcomes of campaigns. Look below at the numbers from the 2023 Marketing Data and Impact Report.
|Intent data users
|Marketing-influenced pipeline and revenue
|Refined target audience for campaigns
|Marketing driven pipeline and revenue
But how is intent data leveraged by B2B marketers? Let us explain a few different ways:
- Identifying potential customers: Intent data can be used to identify potential customers in the market for your products or services. This can be done by tracking their online behavior, such as their website visits, search queries, and social media activity. At MyFormData, we capture activity on your website forms, capturing all activity including abandoned forms. More than 70% of forms are abandoned, so you could be losing out on a lot of intent data. Once you have identified potential customers, you can target them with marketing messages that are more likely to resonate with them.
- Personalizing marketing messages: Intent data can also be used to personalize your marketing messages. By understanding what potential customers are interested in, you can tailor your messages to their specific needs and interests. This will make your messages more relevant and engaging, which will increase your chances of getting a response. If you’re using buying groups or segmenting your customers, intent data can tell you a lot about their interest in your products or services, as well as how close they may be to buying your products. Intent data can help you improve your marketing ROI by helping you reach the right people with the right message at the right time. This can help you save money on marketing costs and get more out of your marketing budget.
- Prioritizing leads: Intent data can also be used to prioritize your leads. By understanding how far along a potential customer is in the buying process, you can prioritize your outreach efforts so that you are spending your time and resources on the most likely opportunities. For example, if you have multiple forms on your website like contact forms, landing pages, quote request forms, and more – if they are being abandoned and you can capture that data, it will tell you a lot about the intent of your customer. Those abandoning account creation forms versus contact forms will need different messaging to bring them closer to a sale.
- Measuring the effectiveness of your marketing campaigns: Intent data can also be used to measure the effectiveness of your marketing campaigns. By tracking the behavior of potential customers before, during, and after your campaigns, you can see how your efforts are impacting their buying decisions and get a better understanding of what’s working and what’s not. This information can be used to improve your future campaigns and get better results. For example, gathering form-fill data from a landing page (even abandoned forms) would give you great insight on how your marketing campaign is performing and how you might be able to improve it.
Overall, B2B intent data is a powerful tool that can be used to improve your marketing efforts. By understanding how potential customers are behaving online, you can target your marketing messages more effectively, personalize your outreach, prioritize your leads, and measure the effectiveness of your campaigns. This will help you to attract more customers and grow your business.
At MyFormData, we specialize in gathering intent data via abandoned form-fills. The MyFormData Platform (SaaS) enables marketers to boost business revenues by capturing, verifying, and enriching data from web-form visitors in real-time to boost conversions.
When someone abandons a form, it’s usually because they’re interested in what you have to offer but they’re not quite ready to commit to filling out the form. Because they’ve already given you some information about themselves, such as their name, email address, and company, this information can be used to qualify leads and identify those who are most likely to be interested in your products or services. By capturing abandoned form-fills, you can also reach out to these potential leads and encourage them to complete the form.
If you’re suffering from a plague of form abandonment, you might consider why customers are abandoning your forms. They may be too long, ask for unnecessary information, or not be optimized for mobile. There’s a natural temptation to get as much data as possible from users completing forms, as this can help the sales team, or inform future marketing strategy. However, this can also increase the likelihood that people will bail out before completing the form. When a form can be easily completed in less than two minutes, it’s typically a good sign. Offering a reward for completing the form, such as a free ebook or whitepaper, can encourage people to finish filling it out. Learn more about maximizing lead generation with web forms here.
MyFormData can be used by marketing agencies, digital marketers, or any business that needs to drive traffic to websites and uses forms for conversions. It’s easy to integrate, and your privacy and data are well-protected.
Improve your conversions and make more money. Contact us today for a demo!