5 Myths about Buyer Intent Data

5 Myths about Buyer Intent Data

We’ve all seen our share of B2B marketing trends that came and went quickly. But one trend that’s undeniably here to stay is using buyer intent data for more effective and efficient marketing.

What is buyer intent data?

Simply put, buyer intent data is a collected set of data points that indicate that someone may be interested in buying your product. With the right data, you can create powerful ABM campaigns and focus marketing spend on accounts that are primed and ready to buy. At the same time, your sales team can augment their pitches with content that buyers are actively seeking. The result: more efficient campaigns and highly accelerated deal cycles. 

But several misconceptions surround buyer intent data. With so many tools and techniques to sort through, it’s important to know what’s fact and what’s fiction.

Myth #1: More is better

While buyer intent isn’t exactly new, you probably think you’re behind if you’re not using it. It may seem overwhelming at first. Where do you start? Which data sets should you invest in? How much data should you invest in?

“When thinking through your strategy, know that more is not always better. Go for quality over quantity.“

When thinking through your strategy, know that more is not always better. Go for quality over quantity. After all, there is a substantial difference between buyer behavior that exhibits actual intent and the noise of simple online research. Buyer intent scoring from providers focused on general online research is not indicative of interest, influence, or consideration.

Myth #2: All intent data is the same

Here is where quality really beats quantity every time. Intent data is only as good as how it’s derived. The strength of intent data differs depending on whether the information comes from a first-party, second-party, or third-party source. Marketers are turning to software review platforms that provide a second-party source of signals from real buyers who are reading reviews, running comparisons, and price-checking your products, as well as your competitors’. 

According to the 2020 B2B Buying Disconnect report from TrustRadius, 45% of business technology buyers consult reviews in their buying process—more than 2x the number using analyst reports and vendor-produced case studies. They value and are influenced most by the qualitative content from reviewers similar to them.

In-depth content for buyers to compare or contextualize your product is the best way to obtain quality intent data beyond shallow signals that do not indicate a resolution to purchase.

Think about it. Would you rather send top-funnel content to buyers who viewed your profile on a review platform or have impactful conversations that engage prospects based on the comparisons they made and specific use cases they read?

Myth #3: Buyer intent data doesn’t inspire action

The most valuable intent data shows you when your buyers care. If it doesn’t highlight buyers who care enough to take an action within your target key accounts, it’s not useful.

If you could outline the path a prospect followed from landing on your product’s page on TrustRadius, it would tell a story like the one below: 

  1. A buyer from MegaCorp landed on a product category page driven by a Google search. 
  2. The buyer then accessed a buyer’s guide to investigate the top products in your category and understand the landscape.
  3. The buyer compared your product to competitive products from Acme, Inc; SaaSCorp; and Globex Org. 
  4. They read long-form reviews highlighting your key differentiators. 

Myth #4: Account-level intent data isn’t helpful

With insight into this customer’s journey, you know which case studies to send that prospect, and sales can follow up with the perfect proof points to close the deal. Sales cycles will be shorter and buyers will find solutions that more definitively resolve their pain points. 

Picture this: a prospective buyer is thoroughly digging into your product. They’re looking at a ton of reviews and comparing your product against your competitors’. Would your sales team want to know about that? 

If an account is active, you can elevate them, knowing that someone in their company is looking at a solution. Based on your target market and aided by sales intelligence software, it’s relatively simple to narrow down exactly who was researching a software solution. If the account is already in a nurture sequence, each of your personas at the account is probably being targeted. Now you know what information to serve them. 

The reality of today’s B2B market is that buyers don’t make purchase decisions alone. Instead, they enlist the help of internal influencers and subject matter experts to purchase by committee, most of whom never speak directly with a sales rep. Intent data gives you insider info on what is important to everyone at the account—not just the buyer—so you can offer a more relevant solution when you reach out.

Myth #5: I need a data team to act on buyer intent

Does scrolling through spreadsheets of intent data scare you? If so, you might think you need a data team to make it usable. Fear not: a data team is not needed to leverage buyer intent data. As long as your intent data provider can integrate with your tech stack, you can get the intent straight to the people who need it, in real time. 

For instance, integrating downstream TrustRadius buyer intent data into your systems is as simple as installing a free Salesforce Connector, or turning on an integration with an ABM platform like 6sense. These data connections notify your team of in-market buyer activity, competitive comparisons happening , and category interest—all of which help marketers create effective campaigns and alert sales when their accounts are active. Simple.

The truth about buyer intent data

Buyer intent data is no mere passing fad. It’s already here, and it will continue to shape the way we market and sell software to provide customers with truly personalized experiences. However, where you get your intent data is just as critical to your success as how you implement it. 

Are you interested in learning more about high-quality purchase signals? Request a demo from our team!

About the Author

Rahul Varshneya