Buyer intent continues to be one of the most powerful data sets for B2B and B2C companies. It’s thought that the vast majority of businesses use such information in some way. However, how can you be sure that you’re using buyer intent to its full potential in sales intelligence? Fascinatingly, up to 40% of tech businesses partner with intent data specialists.
But why is this? For one, it’s clear that buyer intent can be a very different beast from B2B to B2C. What’s more, using the right tools - and understanding the key indicators - will help you plan for success.
Buyer Intent: What’s the Difference Between B2B and B2C?
Buyer intent, of course, is the study of an average customer’s journey. However, the markets and journey points that apply may - and likely will - differ when comparing B2B and B2C funnels. There are some shared factors, of course, such as emotional drivers.
However, one key difference in buyer intent from side to side may revolve around specification. For B2B consumers, product details often need to fit a very specific brief or demand. For those on B2C funnels, there’s immediately more flexibility, an openness to consider multiple options and angles.
There also comes the point of deciding to buy at the end of the funnel. In B2B, this decision revolves around multiple choices and opinions. B2C buyers are likely to lead with one opinion and decision. Therefore, data through B2B is expected to require more parameters for measurement than the B2C standard.
That, however, does not make one set of data any more important than the other. Key indicators differ between B2B and B2C, too - and we will explore this in detail.
How is Buyer Intent Data Collected?
Buyer intent data is primarily sourced from third parties. More often than not, this data is pulled from disparate online sources. This data is aggregated from many publishers to ascertain potential correlations and signs of intent.
For example, data pulled may categorize the amount of time a consumer spends on a product page. What’s more, buyer intent can also measure through search queries and even scrolling efficiency.
Data intent builds up from how visitors behave. This means that you effectively track what visitors look for on your website and when they click away. It pulls together data to help create a blueprint or plan of sorts to ascertain what happens next.
Buyer intent tracking tools and plugins are helpful in aggregating mean data from visitor experiences. Over time, it’s possible to build a firm response to what your average B2B visitor is looking for. However, for this, you will need reliable numbers and lots of them!
Ultimately, it is the art of predicting what your buyers are looking for outside of your website, too. In B2B, these collection practices will need to account for independent research and stringent detail. In B2C, you can afford to be a little looser - but that does not mean you should avoid precision altogether.
Buyer intent data differs from other specific information in that it is widely predictive. This data revolves around indicators and suggestions. This data can be assumptive. However, companies and websites will use it to ‘get ahead’ of the buyer. Therefore, they can tailor outreach to help browsers complete their journeys.
What are the Key Indicators of Buyer Intent?
Key indicators for buyer intent in sales intelligence will revolve around your needs, first and foremost. However, regardless of B2B or B2C, you should focus on visitor frequency. Visitor frequency will help you map out how often buyers come back with the intent to buy.
Of course, you also need to consider outreach and engagement. Without recent engagement, your buyer is likely to drift to the competition. Therefore, be sure to measure for when visitors were last engaged with.
What’s more, you need to evaluate engagement, period - not just recency. How do your visitors engage with your brand? Do they talk with chatbots? Have they signed up for an email list? If visitors choose to engage with you, you can assume that they are almost ready to buy.
How Can Buyer Intent Increase Your Bottom Line?
Buyer intent can help to automate your sales outreach to an incredible extent. This data is highly useful in making firmer, more reliable predictions. Analyzing each customer or client is a time-consuming process. With a firm intel plan, you can effectively nudge customers further along in their journey.
Additionally, buyer intent data helps fine-tune the effectiveness and efficiency of prospecting outright. Essentially, sales outreach can confidently target potential buyers who are most likely to complete the funnel. What’s more, you can target visitors with a more personal focus.
Both of these aspects add up to prioritizing those customers who are likely to close on a sale. It effectively helps sales teams to use their time and insight more efficiently. This means less time spent chasing arbitrary leads that may not follow the funnel to the end. Crucially, these effects offer rewards through B2B and B2C - your ROI improves dramatically.
Making assumptions about any customers is dangerous business. While buyer intent data processing revolves around prediction, using this data can help reduce risk. If you rely on making assumptions wholesale, you run the risk of ‘wasting shots’. With some form of intent system in place, you gain extra confidence in what your buyers are looking for.
Buyer intent data is presumptive but hugely important in sales intel. While we essentially assume how buyers behave, we do so with greater precision. The bottom line is we can expect a more reliable ROI for the sales efforts we demonstrate. Ultimately, the more data we have available, the more confident funnel-building becomes.
Sales intelligence is broad and far-reaching. Data available through Fundz - and buyer intent insights - can help you narrow down your outreach. Never make assumptions without the data to back you up.
Topic: Sales Intelligence