It’s a new technology developed to help companies improve their marketing and selling strategies. Marketers are now able to understand consumers’ intent, which can provide invaluable insight into how they should be targeting them with promotions or campaigns.
Generally, Buyer Intent Data:
Buyer Intent Data is divided into two categories: Core and Marketing.
Core provides additional information about the customer’s intent, such as their in-depth purchase history or demographic buyer data that can be used to tailor a marketing campaign towards them. The second category consists of more specific insights into what they’re looking for when searching and browsing online.
Marketers can use this information to understand the intent of their customers, which will help them make more informed decisions when it comes to marketing strategies and the sales process.
The most common way to collect data is through an online survey, which asks the customer questions and records their responses at a time or place of their convenience (e.g., while watching TV), and it will only take about 15 minutes.
The benefits of Buyer Intent Data are numerous. Not only does it provide valuable insights for marketers, but there are also several other ways that a company can use this data to improve their bottom line:
By understanding the intent behind consumer behavior, companies will make more informed decisions about marketing and promotions. It leads to higher conversion rates, which will help increase revenue.
Buyer Intent Data provides the information necessary to tailor marketing campaigns towards specific customer segments. It leads to a more significant ROI on any given campaign because they’re addressing their customers’ needs instead of sending them generic and irrelevant offers.
With an understanding of what drives consumer behavior, companies can create more effective strategies to increase their sales.