The Power of Intent Data
In a down market, generating demand for your products or services can be challenging. Traditional marketing tactics may not yield the desired results, and it has become essential to find new ways to attract and engage potential customers. One approach that is gaining popularity in recent years is using intent data to guide your marketing efforts.
Intent data is information about the behavior and actions of your target audience that indicates their interest in your product or service. By using intent data, you can identify and target potential customers who are most likely to convert, and tailor your messaging and offers to their specific needs and interests.
However, not all intent data is created equal. There are five types of intent data, each with its own set of pros and cons. The best marketing teams use a combination of three to four types of intent data to gain a comprehensive view of their target audience.
Let’s take a closer look at each type of intent data:
Bidstream data: This type of data is collected by tracking ad clicks and is available through ad exchanges. It provides top-of-the-funnel insights and can help identify potential customers who are in the early stages of the buying process. However, bidstream data can be noisy and imprecise, as ad clicks don’t necessarily indicate genuine interest in a product or service.
First-party data: This data is collected directly from your own website and social media channels, providing a more accurate picture of your audience’s behavior and interests. First-party data is crucial for understanding bottom-of-the-funnel intent, as it can help identify visitors who are close to making a purchase decision.
Co-op data: Co-op data is sourced from a group of publishers who pool their data together, allowing them to access a larger data set. This type of data provides top- and middle-of-the-funnel insights and can help identify potential customers who are actively researching products or services in your industry.
B2B media site data: Large publishers such as TechTarget and Foundry (IDG) collect data across their own websites, providing a broad view of the market. However, their content is often thought leadership-focused and may not directly relate to your product or service, making it less precise than other types of intent data.
Review site data: Review sites like PeerSpot are excellent sources of middle- and bottom-of-the-funnel intent data. People reading reviews are often ready to make a purchase decision, making this data particularly valuable for targeting high-intent prospects. However, it’s important to find a review site that caters to your specific product category to ensure the data is relevant to your needs.
Using a combination of these intent data types, marketing teams can gain a comprehensive view of their target audience and tailor their marketing efforts to maximize impact. The key is to understand the strengths and weaknesses of each type of data and use them appropriately. By doing so, you can boost your demand generation efforts and see a significant increase in leads and revenue.
In conclusion, if you’re looking to generate demand in a down market, intent data can be a valuable tool. By understanding the different types of intent data and how to use them effectively, you can supercharge your marketing efforts and drive real results.