We all understand that account-based marketing is a great way to boost business and sales. ABM allows marketers to concentrate on their strategies, marketing, and efforts on important accounts. But what if you want to go even further and elevate your marketing and business? Well, the answer is intent data.
Nowadays, it is very crucial for businesses to look after their customers’ preferences. Intent data has become a go-to tool for every B2B marketer, as it provides knowledge of prospects’ interest in a product or service, which can help you focus on the ABM strategy, shorten the sales cycles, and close more leads.
Software providers who want a boost in conversions can integrate ABM with buyer intent data to find and reach potential customers more effectively. In this article, we’ll explore three simple ways to integrate intent data into your sales funnel to boost your profits.
Three Ways to Use Intent Data Throughout Your Sales Funnel
1.1 Expand Your List of Prospects
To maximize your marketing and sales efforts, you can start by expanding your list of potential customers. Focus on adding companies that align with your ideal customer profile (ICP) using CRM software. This tool helps track and score leads from various sources, such as your website and marketing campaigns.
Utilize B2B intent data to identify brands matching your ICP and discover contacts showing high interest in your product or service. This approach broadens your reach, allowing you to target new buyers effectively. By concentrating your efforts on leads with strong intent, you can boost the efficiency and accuracy of your outreach.
For example, let’s consider a nonprofit management tech company during the pandemic. Faced with the tremendous expansion of the nonprofit donor management market, they faced challenges identifying potential leads. Leveraging intent data, they created a targeted list of accounts meeting their ICP criteria. By focusing marketing efforts on high-intent prospects, they closed approximately one new deal per week and attributed 90% of their potential new consumers to intent data.
1.2 Flag Customers at Risk for Churn
To ensure continued success, it’s essential to monitor customers who might be disinterested. Even if you’re gaining new customers through ABM and intent data, keeping an eye on potential churn is vital. Intent data helps you analyze and spot customers showing signs of leaving, like reduced web activity or less interest in your content.
When you find a customer at risk of churn, reach out to see what’s wrong. They may be experiencing challenges with your product or considering switching to another provider. Either way, addressing the problem directly is the best way to retain their loyalty and client relationship.
For example, a performance management company noticed that two customers were considering other options. Their account managers reached out proactively to understand why and how they could help. To meet their needs, they retained both clients by adding additional features. This move not only saved $10K in yearly income but also brought in an extra $2K in revenue from their contracts.
1.3 Convert High-quality Leads
To maximize your sales success, it’s crucial to convert potential customers into high-quality leads. After identifying and targeting prospects, use intent data to understand their interests and behaviors. This allows you to score leads, personalize your communication, and increase conversions.
By analyzing behavioral data, you can uncover micro-conversions that indicate strong interest in your product. For instance, if a lead downloads a specific white paper or attends a webinar, it shows they want to learn more. This information helps you segment leads effectively.
For example, a HR processing tech company needed to focus on high-value accounts efficiently. They utilized intent data to monitor and track their top customers’ activity on digital marketing sites. This early buyer discovery led to an opportunity worth $89K, which is three times larger than their usual sales price.
Combining ABM and intent data helps expand your prospect list, identify at-risk customers, and convert leads effectively. This strategic approach boosts sales and ensures long-term success.
Make Intent Data Your Go-to Source
To improve your marketing and sales efforts, prioritize intent data as your main source of information. Look for a reliable provider that offers valuable insights to help you make smarter decisions. By understanding the intentions of your potential customers, you can engage with the right prospects and achieve better outcomes for your business. This allows you to concentrate on growing and expanding your business effectively.
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