It's not magic
“It’s not magic. It enables you to do more complex things, but there is a lot of work that goes on behind the scenes."
That's Steve Grimm, Senior Plant Manager, GE's Additive Technology Center discussing the capabilities of 3D printing technology.
He could just as easily be talking about Sales Fracking™ Buyer Intent Data - an analogous new technology with tremendous potential - but also one that requires work behind the scenes. Both technologies hold tremendous potential for industrial companies - creating new capabilities and reducing waste. Both also require thinking in multiple dimensions and even designing new approaches.
In the case of Sales Fracking Data, it's interesting to observe the positive and negative reactions of bothsales and marketing teams - and further some of the ingenious designs that exploit the new capabilities presented by buyer intent signals.
Most marketing and sales folks have a common initial reaction as they begin to recognize the incredible power of buyer intent data to allow companies to focus marketing and sales resources on buyers that are actively researching a given product or service.
Salespeople particularly embrace the qualified leads...but some are then disappointed when they realize they still must follow a sales process. Yes, seriously. I chuckle too, but it's true! They naively assume that because it's incredibly powerful it will simply do their jobs for them! Intent signals are powerful, but the sales team must be trained to understand how intent data can support their prospecting. It's not a silver bullet.
Marketers love the insights from B2B intent data, but then sometimes recoil when they realize that their staff and budget is often built around lead generation...which buyer intent data should supplement but some fear will replace. They need to understand how third party data can integrate with their first party intent data to provide more insight into target accounts, prospects' buying journey, profiles of their target audience, and how good intent data can give them a competitive edge in identifying and nurturing qualified leads.
Organizationally, however, there's a clear benefit that CEOs and presidents understand.
But Intent Data is Valuable
Buyer intent data increases sales velocity. And because many metrics of sales and marketing activity focus just on speed, that's an enormous organizational revenue growth advantage.
A quick review of high school physics clarifies the difference. Speed is a measure of how fast you're moving. Velocity in contrast measures how fast you're getting where you're going.
Blocks of time spent cold calling purchased lists may check the box for a sales activity formula that predicts revenue based on inputs. But imagine if the prospecting activities were focused on buyers who were already actively researching your product/service? Marketing has the content for nurturing and sales enablement - and now they have the insight into where and when to most effectively deliver it. These refinements ensure that raw speed ends up aligned with both the seller's and buyers' vectors - toward solving a problem.
That's sales velocity.
And that's reflected in the amazing statistics of sales cycle reduction - up to 83% with Sales Fracking™ Buyer Intent Data.
Intent data can help identify companies that may be in market. That accelerates marketing efforts with improve marketing campaigns, and helps sales teams identify prospects and interpret where they are in their buying cycle.
Want a deeper dive into why both marketing and sales have a love/hate relationship with this powerful predictive sales tool? You'll find both below.
Salespeoples' Love / Hate Relationship with Buyer Intent Data
Transcript follows.
You ask any sales leader, manager, or rep what their biggest hurdle is, and the answer is always some form of, we need more sales ready leads with buyers who are researching what we sell. The whole point of prospecting is to try to find that needle in the haystack, somebody that's part of that three percent that happens to be searching at any given time, that also happens to answer the phone, and also has a minute to talk to you. The point of marketing is to try to attract and identify folks that are looking. But even with great SCO, click through rates, and conversion rates on the website, statistically you still only get maybe one to two percent of the people that are looking. So much of the sales process today is built around helping buyers who aren't looking understand why they should be, so you've got to do those things. That's part of business.
But, sales loves buyer intent data because it puts the most valuable information in their hands, the direct personal contact details of everybody who meets their target profile, and is taking action anywhere on the internet that indicates interest and intent to buy the products and services they sell, and to solve the problems that they help solve.
Further, sales can see essentially whole companies light up when multiple colleagues from the same company begin searching around the same products and services simultaneously. Talk about a hot prospect. They'll have insight into the complex buying teams competitive deal intelligence, and insights to reduce customer churn, and boost loyalty. They'll even level the playing field with the status quo, which is, I think the competitor that's winning more, and more census-driven sales today. And, it's easy to implement. Higher intent data doesn't take any bigger project, no months of meetings, or marketing, no IT, no budget planning, and extensive coordination. You start getting data and in a couple of weeks, and you start selling within a couple of minutes. That's why sales teams love it. I mean, what's not to love, right?
But, some hate. Hate it, you say? Well, here's why. Rather than the while you were out kind of lead that says, hey, call this person, they're interested, they want to buy, sales is actually going to have to get pretty cerebral. They're going to have to research. They're going to have to think. They're going to have to strategize with colleagues. They're going to have to use CRM to flesh out an understanding of the complex buying team, and they're going to have to create subtle, challenger sale types of approaches. And perhaps most of all, if you take away the biggest excuse of not having enough leads, they're going to be held accountable.
Marketers' Love / Hate Relationship with Buyer Intent Data
Transcript follows.
Some marketers love buyer intent data while others hate it. Why is that you say? Well average marketers will hate it because it threatens them. I mean after all they've built a department and a function around generating leads. As many have predicted this is essentially a simple form of AI that's actually able to do that more efficiently and do it across the whole internet, all of the websites out there, not just yours.
On the other hand, strong marketers will love it because it will allow them to provide a stream of sales ready leads and actual deal intelligence to sales well at the same time collecting a treasure trove of awareness and consideration stage leads that they can nurture and supply later. Marketers who don't wall themselves off, you know, behind their silo but encourage active collaboration with their colleagues in PR, sales and customer service will see the opportunity to deliver value across the organization and solve for the buyer.
We all help created messaging and enablement content. We all craft workflows and sequences and scripts and templates, stuff that their sales colleagues will begin using today. Real tools, real information. The team will have common goals, they'll be working together toward the goals of the company. But, you know, here's the but, they have to take a rigorous and thoughtful approach to understanding strategizing and executing with the data.
They need data that's more than just IP surges and best guesses about who the person is that might be looking. That's the shortcoming of most buyer intent data and it's the reason some marketers are hesitant to use it. They've had bad luck with it. Sales tracking buyer intent data solves that. We provide actual content details for real people demonstrating real intent through their actions.
Learn more about Sales Fracking™ Buyer Intent Data.
Dig Deeper into How Intent Data Supports Manufacturing Marketing and Industrial Sales
For industrial manufacturers interested in leveraging buyer intent data for boosting industrial sales, it's crucial to dig deeper into how this data can be used strategically by sales and marketing teams. Intent data, a powerful tool for B2B sales, particularly for industrial sectors, holds the key to unlocking new levels of efficiency and targeting of manufacturing marketing.
Harnessing the Power of Second Party Intent Data & Third Party Data
The integration of third party intent data into a company's sales strategy can be impactful. This data, provided by external intent data providers, offers a broader perspective of potential customers' online behaviors and interests, extending beyond the company's website. However, the real magic happens when this external data is blended with second party intent data – information directly obtained from partnerships or alliances. This combination provides a more comprehensive view of purchase intent, enabling sales professionals to make informed decisions.
B2B Intent Data: A Catalyst for Tailored Marketing and Sales Strategies
For marketing and sales teams, the utilization of B2B buyer intent data is not just about gathering information; it's about using this data to craft strategies that resonate with their audience. By analyzing the intent signals, teams can identify the exact stage of the buying journey a potential customer is in, allowing them to tailor their approach accordingly. This level of customization in outreach and content delivery can significantly improve the quality of interactions with highly qualified leads.
Integrating Tech Stack Data and Data Tools for Enhanced Insights
The integration of intent data into the existing tech stack is another crucial aspect. Utilizing data tools that seamlessly work with the company's current technology stack ensures that the data collected is not only accurate but also actionable. Account based marketing strategies, for instance, can greatly benefit from this integration, as they rely heavily on precise data to target key accounts effectively.
Transforming Sales Data into Actionable Strategies
Sales data, enriched with insights from purchase intent data, empowers sales professionals to not only identify but also prioritize their efforts towards the most promising leads. This prioritization is essential in industrial sales, where the sales cycles are typically longer and more complex. By focusing on leads that show a higher level of intent, sales teams can allocate their resources more efficiently, increasing the chances of conversion.
The Role of Data Providers in Enhancing Sales Efficiency
Intent data providers play a pivotal role in this ecosystem. By offering detailed and nuanced data, they enable companies to go beyond basic demographic targeting. These providers offer insights into behavioral patterns, interests, and even pain points of potential customers, thereby allowing for a more informed and personalized sales approach.
Navigating the Challenges and Embracing the Potential of B2B Buyer Intent Data
While the adoption of B2B buyer intent data brings numerous advantages, it also comes with its set of challenges. The primary challenge lies in understanding and interpreting the data correctly. Sales and marketing teams must be trained to analyze and utilize this data effectively, ensuring that their strategies are data-driven and results-oriented. Third party intent data is not a silver bullet!
A Strategic, Data Drive Approach to Industrial Sales
The strategic use of purchase intent data in industrial sales heralds a new era of precision and efficiency. By harnessing the combined power of first, third party and second party intent data, sales and marketing teams can gain a deeper understanding of their potential customers. The integration of this data into the tech stack, coupled with the insights provided by data providers, enables businesses to identify and nurture highly qualified leads more effectively. As the landscape of B2B sales continues to evolve, the role of intent data in shaping successful sales strategies becomes increasingly indispensable.
