Best Buyer Intent Data Providers
Best Buyer Intent Data Providers At A Glance
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23,510 Twitter followers
32,997 Twitter followers
16,970 Twitter followers
16,970 Twitter followers
25,389 Twitter followers
6,436 Twitter followers
711 Twitter followers
21,395 Twitter followers
2,499 Twitter followers
26,171 Twitter followers
Learn More About Buyer Intent Data Providers
What are Buyer Intent Data Providers?
Buyer intent data providers aggregate and deliver context around when prospects and customers are interacting with a brand. Buyer intent is the probability that a customer will purchase a product, and these types of tools capture research around actual buyer journeys and signs of their purchase intent. Rather than using search engines or outdated data sets as a lead feeder, intent signals are becoming the key to more efficient buyer journeys and lead generation. Organizations leverage buyer intent data tools to target companies with account-based marketing (ABM) campaigns, personalize website experiences for online visitors, and prioritize inbound leads based on engagement with their company. Additionally, companies use this type of data and their intent signals to prevent churn by identifying how and when customers are connecting with competitors and whether they may be considering switching vendors. Buyer intent data can also help businesses better understand their products and integrations, and encourage marketing efforts and strategy.
What are the Common Features of Buyer Intent Data Providers?
The following are some core features within buyer internet data providers that can help users identify if this software is right for them:
Intent data capturing: Most intent data is captured through content consumption, like website visitors, their engagement with an email, or even social media. These interactions with content like this create “signals” and are then aggregated to find the best segmentation of actionable potential customers.
Outreach tools for prospects: When teams know exactly who they're reaching out to and what their pain points are, it creates a relevant opportunity right from the start. Buyer intent data software is equipped with not only the data but the tools to contact potential customers as well.
Detailed contact profiles: Having intent data from the start creates the basis for in-depth and accurate contact data. This can include verified phone numbers, emails, and other crucial prospect information. That way, a customer journey can begin on the right foot.
What are the Benefits of Buyer Intent Data Providers?
Lead generation: A big part of finding the person that will buy from your business is having the correct lead. Buyer intent data is essential to finding target personas or accounts that turn into quality leads, making it an excellent lead generation option. With the specific data these tools provide, deeper insights are available to optimize a pipeline of potential buyers.
Lower churn rate: Reading the behavior signals provided by intent data helps better identify a consistent target audience. This is also a key indicator of getting ahead of churn. Even after getting new customers through intent data, that same data can be actioned into outreach to prevent those customers from leaving.
Personalized communication: By understanding what's important to a customer demographic, their needs can be outlined and actioned from the first communication. When buyers have the impression that their needs are being met, their trust only grows. Users can think of it as more than contact information; it’s a relationship that can make potential customers.
Who Uses Buyer Intent Data Providers?
Marketing teams: Campaigns that capture the interest of potential leads are created by marketers using intent data. This data helps put into perspective what is interesting to a demographic of high-quality leads. This makes it an ideal marketing tool for B2B companies in marketing campaigns.
Sales teams: B2B sales teams will use it daily to find and act on qualified leads. They are the ones that prioritize outreach to then get a feel for purchase intent. All leads are founded within a data-driven framework making an ideal sales pipeline.
Challenges with Buyer Intent Data Providers
Software solutions can come with their own set of challenges. Below are the top concerns with buyer intent data providers.
Identifying the correct data approach: With the segmentation of the data provided, there can be difficulty in understanding the appropriate one for a user's target market. Understanding the accounts and the appropriate mapping to campaigns is crucial.
Potential blocks in lead flow: Sometimes, even when one has the intent data, there can be a bottleneck in which opportunities are lead ready. This requires a consistent review of the process of reporting for sales reps. That way, they can understand if the data available is ready to be acted upon.
How to Buy Buyer Intent Data Providers
Requirements Gathering (RFI/RFP) for Buyer Intent Data Providers
For buyer intent data products, the requirement should be that the software offers the ability to aggregate and deliver context around when prospects and customers are interacting with a particular product or company. When dealing with B2B marketing data, there must be a standard of security, so ideally, users should look for ones that are GDPR-compliant.
Compare Buyer Intent Data Providers
Create a long list
Buyers must start from the beginning of the buyer journey by understanding which products won’t be a good fit. The next step is to compile the buyer intent data features that would be essential, such as actual buyer journeys and signs of their purchase intent. If there’s one specific thing from a product that others don’t have but isn’t critical to the business goals, buyers can consider leaving that product behind to find one that checks all the boxes. This is where online research can come into play.
Create a short list
Once a primary selection of features is made of needs and wants, buyers must start identifying products that fit into this mold and ensure that these products meet all requirements essential to the key business objectives. Once the options have been narrowed down, businesses should consider reviews, their impact on current workflows, and objective third-party analysis. Software buyers must include options that are GDPR-compliant, as that’s key for B2B customers.
Conduct demos
There may be an option to take part in a free trial, usually ranging from a week to a month of use, to help make the decision. Often after the trial period, most buyer intent data vendors will include a tiered pricing plan that best suits the needs and size of a business. It’s essential during the demo period to make a list of questions that are crucial to the buyer's purchase decisions so that one can review them with the sales contact.
Selection of Buyer Intent Data Providers
Choose a selection team
Unless the decision is made to use the free version of a product, internal stakeholders, such as immediate managers or department heads, must be included in this purchase. These decision makers will direct the strategy, and to collaborate effectively, they will need visibility over cost and implementation. Buyers should also consider the cost of buyer intent data and the time of the implementation.
Negotiation
Most of these products won’t require negotiation, but that doesn’t mean buyers should compromise on features, add-ons, or services. If a specific feature might cost extra but garner better results, buyers should consider it and try to include it in a package for the basic cost.
Final decision
This purchase decision should be made with business goals and budget top of mind. Making sure all internal parties are aligned on how this purchase or addition will benefit the business is critical.
