Prior to his talk at The B2B Marketing Conference, Andre Yee sat down with Molly Raycraft to discuss the critical relationship between intent data and ABM, and how to implement it properly.
Selecting the right accounts for ABM is considered a crucial action in laying out the foundations of a successful ABM programme. This means accounts should be assessed to ensure they’re the right profile and that the right contacts are available. However, using intent data on top of this is becoming more and more popular.
Intent data essentially identifies the actions (otherwise known as signals) accounts are taking that could indicate propensity to purchase. For example, intent data will show you if someone on your account list is researching your product or perhaps is searching for a topic or solution around a certain problem that your business can help solve.
For Andre Yee, CEO at Triblio, this makes ABM the perfect match. “Right off the bat it offers better targeting, and if ABM is about anything, it’s about better targeting.”
The added advantage is that using intent data doesn’t need to be difficult. However, Andre says it can easily be misunderstood because the use of intent data in an ABM setting is relatively new.
“It’s only caught fire in the past 18 months,” he says. “Marketers are still trying to figure out how to use intent data in marketing campaigns.”
The big mistake: first-party data versus third-party data
There’s actually two types of intent data: first-party intent data and third-party intent data.
First party intent data outlines signals from your own website and marketing campaigns. “For instance when multiple people from an account visit a solutions page on your website multiple times during a week — that’s a really strong buying intent signal,” says Andre.
Third party intent data is different to the first in that it provides activity signals from other websites.
“For instance, there may be someone reading an article on another industry website that relates to what your company does. That could or could not be an important signal.”
Andre says the most prominent mistake he sees marketers make is that they don’t realise there’s a difference between the two.
Most looking at intent data will automatically think of third-party data. So marketers will begin using intent data by buying third-party information and passing the accounts straight to sales for out-bounding.
“The problem with that is third party intent data is really more akin to interest data. These are accounts that are reading topics that may indicate intent but not necessarily so,” Andre explains.
“For instance, someone researching on the latest security breach may actually be looking for information to buy a next generation firewall, but it may also be an IT manager that is just keeping up with the industry and aren’t even involved in the buying cycle at all.”
Instead, Andre suggests applying a mixed approach; using first-party data to validate third-party data.
“The reality is you get your best insights when you combine them together. You get the best insight and the best outcomes that way,” he says.
Where to begin with intent data
To begin reaping the benefits of intent data and ABM, you need to be using it in the right way. Andre deters those who are just starting from immediately looking to external third-party intent data.
“When you’re looking to start the first thing I suggest is to start with the intent data you already own. That means data that’s on your own website that comes from activity,” he says.
Once you’ve begun looking at your first-party intent data, you’re then able to work out what you actually need, and how this can help your programme’s targeting.
Andre encourages marketers to look for the gaps.
“For instance, you may find that only 20% of your target list are engaging on your website in a meaningful way. That might lead you to set the goal of your ABM programme to targeting that other 80%.
“On the other hand, you might find the reverse is happening, and 80% are already engaged on your website. That may mean you look at how you can use your ABM programme to deepen that engagement and get those accounts ready to take a call from you. For example, it may guide you to look at spending more time personalising your website for them, and looking at the personalisation tools you need for that.”
Marketers should also look at the technical practicalities of using intent data with ABM. Once you’ve got these additional intent insights how can you feed those into your ABM platform?
“It gets difficult when your ABM programme isn’t deeply implemented with data, so it can be more challenging than it needs to be,” warns Andre.
He’ll be unveiling more top tips and industry examples on how to use intent data and ABM at 2.40pm in the ‘Programme and content execution’ stream at The B2B Marketing Conference.
