How to Leverage Intent Data to Upsell to Your Existing Customers
What is upselling, and how do you best apply it? Learn how to leverage your current customer database and what intent data is to increase your sales.
Buying intent data can help sales teams identify and prioritize prospects who are likely to convert into customers. In this guide, we'll walk through all the ins and outs of intent data and how you can use it to optimize and structure your outreach and follow-up strategies.
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First-Party Intent Data Third-Party Intent Data Types of Intent Data Types of Signals Data-Driven Data Strategy Intent Data for MarketingFirst-party intent data refers to information collected directly from your website visitors or other sources that can indicate their interest in your products or services. This data can include website behavior, such as visited pages, time spent, and search terms used.
It can also include information about the visitor, such as job title, company size, and location.
In a sales engagement tool, first-party intent data can help sales teams identify and prioritize leads most likely to convert. By analyzing the data, the tool can provide insights into a lead's level of interest and engagement with your company, allowing sales teams to tailor their outreach and follow-up strategies accordingly.
For example, if a lead has spent significant time on your pricing page, the tool may flag them as a high-priority lead for follow-up. Or, if a lead has downloaded a whitepaper related to a specific product or service, the tool may suggest that sales reps reach out with additional information about that offering.
Overall, leveraging first-party intent data in a sales engagement tool can help increase the efficiency and effectiveness of your sales process by enabling your team to focus their efforts on the most promising leads. We'll cover everything related to this topic so you can modernize your sales process.
Third-party intent data refers to information external providers collect about the behavior and activities of potential customers or clients that suggest they are interested in a particular product or service. This data is obtained by tracking website visits, search engine queries, social media interactions, and other online activities.
The purpose of third-party intent data is to help businesses identify and target potential customers who are most likely to be interested in their products or services. By analyzing patterns in customer behavior and interests, businesses can tailor their marketing efforts to reach these individuals with more personalized and relevant messages.
Third-party intent data providers typically collect and aggregate data from various sources, including publisher networks, data management platforms, and ad exchanges. They then use machine learning algorithms to analyze this data and identify patterns and trends that can be used to inform marketing strategies.
First-party intent data refers to the interest level directly measured from the interactions of prospects and customers with a brand or company. This data is often directly linked to a person through a specialized platform that can tie various elements, such as IP info, personal information, cookies, and of course, engagement information, together.
On the other hand, third-party intent data is accumulated by using tracking cookies outside of the brand's website. For example, a person's online behavior on Google, Facebook, or any other website. It is usually based on an IP address and device information to track movement online across various domains.
Within marketing, Google is moving away from using tracking cookies. Other companies sell sales or intent data for a more holistic view of potential prospects. However, recent changes in privacy laws mean that websites must provide customers with a fair option to accept or decline this type of cookie, which may make this data source less available. Apple has already blocked tracking cookies by default in its Safari browser.
In addition to what has been explained above, let's dive deeper into which intent data can be drawn from demographic, psychographic, and behavioral data. Demographic data includes information about the prospect's age, gender, education level, income, and other similar characteristics. Psychographic data provides insights into the prospect's personality, interests, attitudes, values, and lifestyle. Behavioral data tracks the prospect's actions, such as their browsing behavior, communication, and engagement with content.
Once businesses have gathered intent signals, they can use them to create targeted campaigns that are more likely to resonate with their target audience. For example, if a business knows that its target audience is interested in eco-friendly products, it can create marketing messages highlighting its products' eco-friendliness. Businesses can improve their conversion rates and customer retention by using intent signals to create more personalized and relevant marketing.
In today's highly competitive market, having access to data is crucial, but it's just the first step. The real challenge is incorporating that data into your sales process, marketing campaigns, and overall revenue strategy. Fortunately, intent data tools can make the process much easier.
Using these tools, businesses can gain valuable insights into their prospects' interests and how they engage with the company's digital assets, such as content. With this knowledge, sales teams can tailor their approach to meet the specific needs of their prospects, increasing the likelihood of closing deals and achieving greater success. Therefore, intent data tools are essential if you want to leverage your data for maximum impact.
To boost conversions and ROI of your marketing efforts, utilizing intent data at all funnel stages is crucial, allowing for easy segmentation and personalized content delivery.
First-party data collected through surveys, interviews, and focus groups, should primarily focus on brand awareness and customer education. Whereas for an omnichannel approach, combining first-party and third-party data is necessary to move seamlessly from awareness to purchase.
With Leadcamp, for example, businesses can gain valuable insights into their customers' behavior at all stages of the funnel, capitalizing on the power of intent data while building brand recognition among consumers.
Once audience insights are obtained, businesses can further categorize and target their audience more precisely based on their behavior patterns and interests. This allows for more effective marketing campaigns, as businesses can communicate directly with potential customers, addressing their specific needs and preferences.
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