Convincing your boss that intent data is one of the most potent components in the B2B landscape today is the very first step towards introducing it into your marketing strategy. In this blog, we talk about 5 ways to justify intent data investment to your boss.
What’s the best way to make your boss understand how valuable intent data is?
By explaining how intent data can empower the whole B2B marketing ecosystem, and investment in intent data means more robust overall marketing performance.
5 ways to prove intent data ROI to the boss
1. Your ABM campaigns will be more on-point
Account-based marketing looks excellent on paper, but many times, organizations falter in the execution. When they fail to get the desired results, justifying the budget and resources for a customized one-to-one effort becomes difficult. When the quality of the target-account lists is uncertain, a question arises…
What if your investments don’t pay off?
With the help of intent data, marketers can identify ABM prospects more likely to purchase soon. B2B sellers can prioritize those accounts and make messaging relevant to a specific target’s interests. Once you prioritize accounts based on purchasing intent, you can invest in lead nurturing activities like email campaigns, video marketing and programmatic displays with more confidence.
2. Expand and refresh your database
Expand and refresh your target-account list with timely data, as one of the most serious mistakes organizations can make is running campaigns on old data. Doing so leads to a waste of resources as you marketing to accounts that aren’t ready to buy from you.
Not only does poor data waste your budget, but it may also irritate potential customers, too.
The best approach is to update your database regularly with accounts more likely to buy from you soon.
- Leverage intent data to build audiences similar to prospects already in your database.
- Identify accounts you might have missed while building your account list.
Intent data has the ability to help you create a robust database beyond that of other tools. Intent intelligence can go beyond demographics and other parameters to ensure you are adding accounts that are actively pursuing your products or service.
3. Create relevant content assets
There is so much content on the internet today, and the competition for attention is fierce. The content assets read first are the ones that answer buyers’ questions.
Do not assume what your audience may like; instead, use intent data to create content that reflects what prospects are actively looking for.
4. Shorten B2B sales cycles
With so many channels available today, the B2B buyer’s journey has become complex, and the sales cycle span runs upwards to 12 months or more. Leveraging intent data to nurture and engage with prospects actively looking for solutions makes your marketing strategy much more effective. You don’t waste time, resources, and energy on accounts not in the buying cycle.
The sales cycle accelerates when prospects have their questions answered faster. A shorter sales cycle reduces the cost of acquisition to a great extent. It empowers you as an organization and satisfies every stakeholder involved – from salespeople to marketers to your customers.
5. Identify cross-sell opportunities and reduce customer churn
Intent data gives you the power to identify cross-sell opportunities and uncover churn indicators by monitoring online behaviors. You get real-time visibility as customers research competitor products and services, and you can react before they disappear from your eyes. If your customers are looking for complementary solutions you offer, you get an opportunity to cross-sell.
To conclude, tell your boss that you maximize marketing spend with intent data as measured by better ROI and results. Intent data, used correctly and broadly, enhances overall marketing and sales performance. Personalized marketing is the future, and intent data is the need of the hour. Make it a part of your marketing strategy before it’s too late.
Learn about all the ways you can bring intent intelligence into your organization: “7 Tips: Operationalize Intent Intelligence Across Marketing and Sales.”