There is confusion in the market on what intent data is and how it should be leveraged to increase sales effectiveness vs. just efficiency and to drive ARR, GRR, and NRR growth. This is why we had John Steinert (CMO at TechTarget) and Bill Henry (SVP of Field Sales at TechTarget) join Eric Gruber (CEO of Personal ABM) on the ABM Done Right Podcast below:
Here Are the Key Points From This ABM Done Right Podcast with TechTarget:
- Intent data should not be a replacement phrase for behavioral data. GTM teams need to differentiate between behavioral data that is indicative of a purchase and behavioral data that is not indicative of a purchase. This is why GTM teams need to think about how each intent data provider delivers intent – and what’s behind that intent data.
- Many GTM teams are investing in intent data platforms with the idea it will drive change in the organization. They are letting the intent data platform drive the GTM strategy vs. support it as teams are not thinking about the use cases – and how they should leverage intent data before they look at what providers can deliver the intent data they need to achieve their revenue goals.
- While intent data is increasing GTM efficiency, teams are not increasing their effectiveness to drive revenue growth with in-market accounts. They do not have processes in place to prioritize and segment accounts – and to leverage intent data in a way that sales and marketing deliver the right experiences to the right human buyers. Instead, teams are reacting to intent data and creating undifferentiated messaging and experiences. There’s very little noticeable difference between companies that are interacting with in-market accounts as most teams are using intent data in some way.
- Teams are only focusing on using intent data for “new” accounts that are showing intent – and are in their ICP. But these accounts have smaller deal sizes as they have predefined needs, and they are looking for providers that can meet their predefined needs for the lowest cost. Many teams are not using intent data to create demand and create new opportunities. They are not using it as a way to learn from similar accounts, uncover market trends and shape interactions with accounts not showing intent but have a strategic priority in place. It’s these accounts that can deliver the greatest revenue growth. And, many teams are not using intent data to drive retention and expansion where teams can prioritize where opportunities exist within a specific part of your portfolio.
- While Intent data can play an important role in creating, capturing, and closing demand, many marketing teams do not have precise enough intent data to enable sales to have the right interactions to create, capture, expand, and close demand. In most cases, GTM teams are only getting account-based intent which does not dig deep enough to provide sales with what they need to deliver a more relevant buying experience and to have more relevant, helpful interactions. Account intent data doesn’t get into the people that are in the buyer’s journey. It doesn’t get into the topical relevance based on each person, and their role/function. It can’t help a seller find the right people and to improve their interactions with buyers, as account-based intent only shows that something is happening within an account. But it doesn’t show the motion after that. Most sales teams are left guessing what the next step should be and why. They are wasting time guessing who they should be reaching out to – and what they should be telling prospects.
- We need to connect intent with the priorities of target accounts and use the intent data as a springboard. At Personal ABM, we place higher priority on accounts that show intent, have a strategic priority in place, they are a tier 1 or A account, and we have stories that match their solution. It’s these accounts that we will do a targeted 1:1 program and ensure we have content and messaging that goes beyond industry and persona relevance. With those that do not have a strategic priority in place, we execute 1: few programs so we’re not disrupting the sales teams with opportunities that do not have the greatest chance of moving forward to revenue.
- Teams are using intent data in isolation – and it’s meaningless. In truth, when intent data platforms pick up on a ‘surge’ in activity, that could mean a potential customer is in-market and preparing to buy — or it could mean someone far removed from the company’s purchasing committee is doing research on competitors or industry trends. Understanding who is generating each engagement and where and within what environment that engagement is happening is essential in evaluating whether there is ‘true purchase intent’.
- To capture more revenue (which should be the ultimate goal of using intent data), we need to have sales requirements in mind when choosing an intent data platform. And, teams need to be able to enable sales to leverage intent data in a way that improves the buyer experience and accelerates accounts to revenue. Click here to learn more about our account-based enablement program.
To Help You Enable Sellers to Improve the Buyer Experience Across All Touchpoints, Check Out the Webinar Below with the CEO of Folloze:
