Intent
April 3, 2024
Intent Data: The Shocking Oversight That Many Teams Miss!
A guide to how to use first party intent, and third party intent, for sales development
In the dynamic realm of sales and marketing, the term "intent data" often evokes a sense of allure and intrigue. However, a surprising number of teams are missing out on the full potential of this valuable resource. Perhaps because it's usually or traditonally fallen under marketing technology, martech or marketing tech. This blog post will shed light on the critical aspects of intent data that teams frequently overlook, emphasizing its strategic role in increasing SDR connections, driving conversations, and ultimately impacting pipeline and revenue. By doing this we aim to reframe the "intent data" world into a more holistic view for sales technology or selling technology for both sales and marketing to collaborate around.
The Typical Tale: The Culprit, The Seductive and The Unsung Hero
The lifeblood of any sales team lies in its ability to connect with prospects effectively. Meetings scheduled and pipeline built are directly correlated with healthy connection rates. When these rates suffer, teams often attribute it to bad data.
Bad Data: The Culprit
In the quest for better connection rates, teams frequently seek new data or better data sources. The assumption is that the fault lies in the quality of the data being used. If someones using Cognism, they start to look at Lusha. If someones using LeadIQ they start to look at ZoomInfo. The truth is bad data isn't necessarily the truth, it's just not the right data for your team focusing on that market. However, this is only part of the puzzle.
Intent Data: Seductive Yet Costly and Misused
Intent data often appears as the holy grail, promising insights into the mindset of potential buyers. The allure of intent data can be misleading. It is not only a costly investment but is also frequently misunderstood and misused. Lots of sales people, competitors, researchers, bloggers (like myself as I write this) search lots and lots of terms that might relate to your company. So just because Joe Bloggs at ABC Corp searched "Cyber Security Network Tools" does not mean you'll close and sell this person. You still need the previous mobile number data to speak to him as well.
This is why intent data can get a bad rep for SDRs who have beem fed poor and low level MQLs. However, there is a small reframing of this data which turn it into gold dust that the SDR and Marketing team will happily share.
Marketing Trackers: The Unsung Heroes of Relevant Data
What many teams miss is that marketing teams deploy a multitude of trackers in their campaigns. These trackers provide valuable insights into prospect behavior and engagement. Leveraging this data provides Sales Development Representatives (SDRs) with accounts that are not only relevant but also actively engaged. Yes, Marketers you know this. However, how long do you hold onto this data? How long do you wait before handing it over to the SDR's becasue it's scored a certain way?
This intent data is the account list, email list, contact list that an SDR Manager will kill for. A 100 accounts that are a perfect ICP, is great. 100 accounts that visited or downloaded a whitepaper once is useful. Thorough cross referencing to find a list of 20? 50? 80+? is highly beneficial and converts at a higher rate.
This lack of sharing the data sooner, may be down to volume, quality, or ownership and accountability. However, you all fail if there aren't enough connections and therefore revenue, right?
Thorough IP Databases: The Power of Intent
Intent data providers, often associated with costly solutions, possess comprehensive IP databases. These databases play a crucial role in identifying the right accounts by tracking online behaviors and interactions. Understanding this aspect unlocks the true power of intent data. The reframing of intent data and web visitors needs to happen on both sides of the fence.
Strategic Integration for Maximum Impact
To capitalize on intent data effectively, teams must strategically integrate it into their existing processes. It's not just about having the data; it's about using it in a way that aligns with your team's objectives and enhances overall performance. Using this intent data to help the SDR have more connections and report back to Marketing on the intent of traffic visitng the site. So marketing can then tweak or adjust what they need to. Or SDRs book more meetings and execute on speed to lead.
Marketing,you can still market accounts and contacts that an SDR is calling into. SDRs, you should have your own established pipeline management habits. So why would the Marketer and SDR combine and share the first party intent data to really work the accounts and prospects together? Almost like Account based prospecting right?
Intent Data Done Right: A Game-Changer for Revenue
When harnessed correctly, intent data becomes a game-changer for revenue. It goes beyond the superficial allure and becomes a strategic asset that guides SDRs to the right accounts, ensuring meaningful conversations that drive pipeline growth.
In conclusion, the shocking oversight that many teams miss is the untapped potential of , mostly first pary, intent data when used in conjunction with a good sales development process of reporting and pipeline management. While intent data may sound appealing, its true power lies in its integration with comprehensive IP databases and strategic utilization. When aligned with the team's goals, intent data transforms from a costly investment to a strategic tool that significantly impacts pipeline and revenue growth. We've incldued some tools that you should consider below.
First party intent data. Highly accurate and largest IP database available. Supplementing and enriching with contact data from Cognism.
Third Party intent data, also first party intent data. Enriches with contact data. Provides ABM targeting to these accounts.
More expensive compared to Lead Forensics and less accuracy, but more encompassing intent capture and retargetting.
Specialised and customised user experiences. Taking the intent provided from 6Sense, and other tools, to make sure every visitor is interacted with in real time and increase conversion rates.
