There is no doubt that Account-Based Marketing (ABM) has received a lot of significance in recent years. Intent Data is an exceptionally vital asset accessible to B2B organizations that use the ABM approach.
This is due to the fact that the more data B2B marketers have regarding their target accounts, the better tailored the engagement as well as content they can design in order to ensure a successful conversion.
This data can be collected by Intent Data and leveraged to boost sales.
B2B organizations should ideally utilize consumer data from multiple sources in order to guide their marketing and sales strategies and reap the benefits of ABM.
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But before we dive into the details, let us understand what Account-based Marketing (ABM) and Intent Data are.
What is Account-based Marketing (ABM)?
Account-based Marketing (ABM) is a marketing and sales strategy that involves focusing on high-value accounts and targets which have a higher probability of purchasing your product or service.
These high-value accounts are approached with personalized marketing and sales strategies to ensure a high conversion rate.
This results in strategic investments leading to a high Return on Investment (ROI).
With marketing automation and the right CRM, you can accelerate your ABM strategies and acquire maximum deals.
Due to such benefits, ABM has been one of the top priorities in the B2B marketing industry for 2023.
To know more, read our blog on how ABM should be your top priority in 2023.
What is Intent Data?
Now, before starting any business, businesses must be aware of what problem their product/service is solving and whether people are actually interested in their offerings.
As a result, businesses can find answers to these questions by analyzing the purchasing as well as online behavior of users, AKA – Intent data.
Intent data basically refers to the data showcasing a prospect’s degrees of interest in a particular product or service your business might offer.
This Intent Data is collected through users’ online activities such as liked posts and advertisements, web searches, subscriptions, etc.
To know more about Intent Data, do check out our Comprehensive Guide to Intent Data.
Intent Data: ABM’s Friend in Need
Without the correct data and tools, Account-based Marketing (ABM) is like driving in an unknown area with no GPS- you’re likely to get stuck and the chances of the situation turning around are pretty slim.
The basic requirement for the success of any ABM strategy is a good understanding of the target accounts and their interests.
With the assistance of intent data, marketers can prioritize their outreach efforts according to the engagement levels of the prospects.
Intent Data provides B2B firms with valuable insights about what actually matters to their prospects through a broadened sense of understanding. Though this has several advantages, it is of utmost importance because it creates space for effective marketing strategies.
Importance of Intent Data for ABM’s Success
Intent data is the fuel for ABM.
As companies become more aware of potential consumers, they can now focus on high-value accounts, eliminating those which are not useful.
This not only helps in cutting marketing costs but also helps in saving much-needed time.
Sales representatives now know what are the exact interests and desires of consumers and guide them through the sales funnel accordingly.
Such is the impact of intent data on ABM.
Let us take a look at the major reasons why Intent Data is essential for ABM’s success.
1. Personalized Messaging
Intent data assists in identifying and understanding the specific needs and interests of their target accounts, enabling them to customize and tailor their marketing content as well as messages in such a way that it resonates with the target accounts.
2. Prioritizing Accounts
Not every account you come across is going to be interested in your product or service. As a result, there is no use in spending time convincing such accounts into making a purchase.
With intent data, you can clearly see the accounts that have shown interest in your product or service. Once you are aware of the accounts that are interested, you can easily prioritize them accordingly, saving time and effort.
3. High Conversion Rates
Intent data not only gives insights regarding the interests of prospects but also their pain points and expectations.
Understanding these pain points and expectations helps marketing executives to demonstrate offers and messages which align with their needs and expectations, thus increasing conversion rates.
4. Customer Retention
Intent data provides valuable insights regarding customer needs and pain points.
This helps marketing as well as sales representatives to address these issues in detail, providing them with a thorough and seamless purchasing experience.
With the help of personalization and targeting outreach efforts, buyers are highly likely to purchase again.
Two essential tools that accumulate Intent Data for ABM
Here are 2 essential tools that you can use to collect precise and valid intent data for ABM:
1. 6sense
6sense is a platform that collects undisclosed buying signals, digital footprints, and sales intel with the power of AI, big data, and Machine Learning.
2. Terminus ABM Platform
Terminus is a revenue growth-oriented ABM platform. It provides end-to-end resolutions for identifying and prioritizing target accounts and initializing marketing and sales efforts.
Summing it up
Account-based Marketing does seem like a lengthy process, but with the help of intent data, things only seem to get easier.
Now that you know the crucial role of intent data for ABM, here is the enigma- Many businesses still prefer relying on their instincts and judgments, rather than utilizing and leveraging from such significant data.
When identified and used properly, Intent Data can help you set your business a class apart from the ones who do not.
In today’s highly competitive business environment, there is no room for errors. Hence, it is very important to make informed decisions.
Intent data aids in not only understanding and prioritizing prospects but also approaching them with the right marketing and sales initiatives to ensure high conversion rates.
