By Ellen Gomes
At this point, most of us have realized that traditional, or “spray-and-pray” marketing approaches no longer work. We are now living in the Engagement Economy where buyers have more power than brands and expect personalized, relevant interactions at every touchpoint.
As Steve Lucas, Marketo CEO, said, to win in the Engagement Economy, marketers must listen and learn before they engage. Now, savvy marketers are turning to intent data to listen to their target audience.
What is Intent Data?
Intent data is time-based, information collected about a person’s activities which tell you the topics they are showing interest in or researching.
People are leaving digital clues about their interests and intentions in many places across the web, including when they visit your website or click on your emails (1st party data), visit websites you don’t own, and go to social networks to discuss business issues and products (3rd party data).
Intent data can help you keep the pulse on your target audience at every stage of the buying journey. This type of data can help you identify in-market buyers who haven’t yet engaged with you, prioritize your existing leads, nurture leads with personalized emails, invest in advertising more strategically, personalize your website, and more.
The latest Demand Unit Waterfall has added two new stages—target demand and active demand—aimed at identifying target buyers before they have raised their hand or self-identified on your site.
According to SiriusDecisions’ recent blog post, ”third-party intent data can help determine which demand units not only are in ‘shopping’ mode, but also have experienced an identifiable event that means they could be in-market. This data then helps organizations determine where to aim their outbound marketing efforts.”
A Nascent and Confusing Market
Although the conceptual value of intent data is compelling, the solutions market is still maturing. As a result, it can be challenging for marketers to pick the right data provider who can meet their desired use cases.
The two biggest questions marketers have right now are:
- What types of intent signals are most relevant to my business? In other words, which intent signals are the best predictors of purchase behavior?
- How do I use intent data in practice?
In another post, I discussed one use case—how organizations can leverage social intent data for email marketing. In this post, I will share some thoughts on how you can assess the relevancy of intent data by asking three questions. By the end of the post, I hope that you’ll have a clear idea on how to evaluate intent data providers to pick the one that can help you achieve your desired objectives.
How Are Intent Data Providers Collecting Data?
One part of the question on data relevancy is about whether the data can accurately tell you who is behind an activity. The ability to accurately identify who is behind an activity depends on how the data Go to the full article.