Intent Data Update: AI Improves Active Buyer Identification and Engagement
Intent data is becoming institutionalized at B2B and life science companies as marketers embrace new technologies to identify active buyers. Intent data’s benefits go well beyond stuffing the sales pipeline with early-stage leads.
- Higher conversion rates: A Forrester report found that almost 60% of B2B marketers using intent data experienced a substantial increase in lead conversion rates. The boost was attributed to the technology’s ability to create more personalized marketing strategies.
- Improved customer retention: According to the Aberdeen Group, companies leveraging intent data have enjoyed a 74% higher customer retention rate compared to non-users.
- Greater revenue growth: A Gartner study indicated that businesses actively employing intent data have experienced a 15% to 20% revenue increase. This performance is due to the enhanced targeting that makes marketing campaigns more effective.
Brian Law at ZoomInfo segregates intent data into three types: champion moves (tracking changing job roles), known intent (gathering data via surveys), and inferred intent (deduced from broader web behavior). He says that synthesizing these types of intent data can be a gold mine when it comes to identifying companies that are likely to make a near-term purchase. Law also stressed the importance of data quality and validation for marketers to make educated decisions that support revenue growth.
TW’s Take
Intent data is becoming more sophisticated and productive as the technology matures. Providers are using artificial intelligence (AI) to aggregate data streams and more accurately pinpoint active purchasers. The new privacy laws will continue to make individual buyer identification difficult. However, as intent data grows in popularity and improves its performance, targeting prospective buying on a company level will become much more effective.
While intent data subscriptions are pricey, B2B and life science marketers should understand the power of this new technology.
For a more detailed review of intent data use, download our eguide, Intent Data: An Exciting Step Forward in Active Buyer Identification.
