Intent Data: “Moneyball” Moment For B2B Marketers
What does intent data have in common with baseball? More than you might think.
Sports is about winning championships; business is about winning customers, but that’s not all. In the movie, Moneyball, Oakland General Manager, Billy Beane, gave baseball its “Moneyball” moment. He successfully replaced intuition with analytics to evaluate talent and assemble a professional baseball team. Similarly, in the B2B landscape, intent data helps you find in-market prospects with buying intent, and this is the “Moneyball moment” for marketers.
Tony Uphoff, Thomas President, and CEO, shared this idea at the True Influence Summit: “This is the Moneyball moment for B2B marketers. We’re seeing data inform every decision we make.”
Find more insights in this overview of his Summit session: “Marketing Data: Navigating the Headwinds of Change.”
Uphoff noted that one of the first things brands must do is define their data. Some organizations look at their databases as data. They lack clear understanding of real-time data and the difference between first, second, and third-party data sets.
In getting to the reality of their data, the session recommended 11 data questions for B2B brands:
- Do I have a problem with a source?
- Is the data overly repetitive?
- What data is applicable for our business?
- What are the sources we have?
- What is your marketing objective?
- What is valuable data for us?
- What are we trying to accomplish?
- What is the view we should take?
- Are you leading your prospects to a place where you offer them value?
- Are you actually helping them or yourself?
- Are you solving a problem?
Engaging on a meaningful level requires effort, and intent data provides role-level insight into:
- Who is this individual?
- What are their responsibilities?
- How could we reach out in an engaging way?
Everybody sees the world through a different lens. As marketers, we need to gather data that helps us better understand that lens.
Data is a serious part of any brand, but some organizations struggle with challenges like these:
- Having real-time data to drive strategy and action
- The ability to pivot quickly using those insights
- Using data to learn how to stand out and bring value
- Amid digital fatigue, how do you put data to the best use
Misusing quality data, being tone-deaf, or being out of step with prospects are other ramifications of data neglect.
Some marketers get hung up on data provenance and tech stack. Too much tech stack is mind-numbing. Don’t just build data lakes. Instead focus on information that you actually need. All we are aiming for is a perfect encapsulation of marketing, real-time data, and being agile enough to use it. Like quantitative analysis changed baseball forever, intent data can change marketing forever. Up your data game today. Watch the full session with Tony Uphoff and his fellow panelists: “Marketing Data: Navigating the Headwinds of Change.”