What is Buyer Intent Data?
Gain an understanding of buyer intent data and its benefits for marketing and sales teams. Learn how to leverage it to generate new, qualified leads and increase sales conversions.
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Intent data provides a collection of information about prospects and their online activities. When online users or companies are doing extensive research to find solutions to their pain points, their online activity creates subtle buying signals that unveil their intent.
The valuable dataset of intent data successfully identifies buyers’ location in their purchase journey.
The statistics below show how intent data can help companies better understand prospects and offer adequate solutions to their needs.
Intent Data Statistics
- Only 25% of B2B companies are currently using intent data and monitoring tools. (ABM Benchmark Survey Report, 2017)
- B2B buyers conduct an average of 12 online searches before visiting a specific brand’s website. (The changing face of B2B marketing | Google, 2015)
- 89% of B2B researchers use the internet during the B2B research process. (The changing face of B2B marketing | Google, 2015)
- Today’s business buyers do not contact suppliers directly until 57% of the purchase process is complete (B2B’s Digital Evolution | Google, 2013)
- 16% of marketers say outbound practices provide the highest quality leads for sales (State of Inbound report | HubSpot, 2017)
- Only 46% of sales reps receive data insights on customers’ propensity to buy. (Salesforce, 2019)
- Prospects spend 50% of their time seeking information from third-party sources. (Emerging Technology Analysis: Leveraging Intent Data for Marketing and Demand Generation | Gartner, 2020)
- By the end of 2022, more than 70% of B2B marketers will utilize third-party intent data to target prospects or engage groups of buyers in selected accounts. (Emerging Technology Analysis: Leveraging Intent Data for Marketing and Demand Generation | Gartner, 2020)
- According to Lead Connect, 78% of customers buy from a company that responds to their inquiries first. (The Complete List of October 2020 Product Updates | HubSpot, 2020)
- 99% of large companies are using intent data. (Insights for Professionals, 2020)
- Over half of marketers combine first-party and third-party data. (Insights for Professionals, 2020)
- Almost 40% of businesses are spending more than half of their marketing budget on intent data, and 70% plan on increasing spending on intent data next year. (Insights for Professionals, 2020)
- 47% of organizations utilize intent data for demand marketing, 40% to inform and enable sales, 38% to inform their advertising and digital market initiatives, 29% to accelerate sales pipeline, and 24% employ it for all of these uses. (TechTarget, 2020)
- Companies plan to use intent data to generate higher-quality leads (57%), enhance target account lists (48%), and build brand awareness (46%). (TechTarget, 2020)
- Nearly half of organizations use intent data to understand how customers use their products. (TechTarget, 2020)
- 83% of markers use buyer intent to create the right content for their audience. (TechTarget, 2020)
- Over half of the businesses (55%) have seen positive results from utilizing intent data. (TechTarget, 2020)
- According to 97% of B2B marketers, intent data will give firms a competitive edge. (Bombora, 2021)
- Three-quarters of marketers, or 73%, already have, are rolling out, or planning to implement an intent data strategy. (Bombora, 2021)
- 96% said they have successfully achieved the associated goals using intent data. (Bombora, 2021)
- The top challenge of using intent data for 56% of marketers was data quality, 50% said they had trouble making the data actionable, and 36% found it difficult to align marketing and sales. (Bombora, 2021)
- 81% of sales representatives say buyers increasingly research before reaching out. (Salesforce, 2022)
- Half of sales leaders utilize intent data to improve account prioritization. (Demand Science, 2022)
- 55% experienced an increase in lead conversions when utilizing intent data. (Demand Science, 2022)
- Over 40% of B2B sales reps use intent data to enrich their CRM. (Demand Science, 2022)
- Almost half of B2B leaders believe intent data is vital to a revenue strategy. (Demand Science, 2022)
- 33% of companies use AI, and 84% said it has helped them understand their customers’ intentions. (Salesforce, 2022)
- 52% of marketers use intent data to deliver targeted content, 47% for email marketing, and 44% for personalization. Other purposes of using intent data include crafting content, events marketing, account-based initiatives, creating landing pages, and informing automation campaigns. (Statista, 2023)
WRITTEN BY TANJA TODOROVSKA MALAKJAN
SEO MANAGER AT SHORTLISTER
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