The Ultimate Guide to Intent Data: Benefits and How-To in 2024

Intent data is one of the most valuable targeting tools available to B2C and B2B marketers today. This comprehensive 3000+ word guide will examine everything you need to know to leverage intent data for success in 2024 and beyond.

What is Intent Data and Why Does it Matter?

Let‘s start with the basics – what exactly is intent data?

Intent data reveals consumer intent to purchase or research products and services. It is derived from online behaviors like search queries, website visits, content downloads, and more. Data providers use technologies like cookies, IP mapping, and machine learning algorithms to analyze these digital body language signals and model consumer intent.

For example, if Mary is researching new DSLR cameras on review sites and manufacturer websites, she is signaling an intent to potentially purchase a DSLR camera. When a salesperson named Bob downloads a demo report on CRM systems, he is indicating intent to evaluate new CRM solutions for his company in the near future.

Intent data enables brands to identify the right prospects, at the right time, with the right message. It captures both early-stage research intents as well as later-stage buying intents.

But why is understanding intent so valuable for businesses today? In short, because it achieves results. Let‘s look at some statistics:

• Forbes reports that 59% of companies using intent data have seen increased sales.
• A Bombora study found businesses leveraging intent enjoy 7% higher conversion rates.
• Demandbase revealed that intent data helps generate 5X more marketing qualified leads.
• Aber research shows 74% of companies plan to invest more in intent data in the coming year.

The numbers speak for themselves – intent data delivers significant ROI across industries. As you‘ll see later in this guide, leading B2B and B2C brands are using intent to drive substantial business impact.

The Benefits of Leveraging Intent Data

Now that you understand what intent data is, let‘s explore the major benefits it offers for both marketing and sales:

More Relevant Targeting

Intent data allows you to identify high-value prospects based on their current research stage and interests. For example, you can specifically target:

• People searching for "best compact cameras" with Sony digital camera ads.
• Businesses researching "HubSpot competitors" with ads for your CRM.

This relevant targeting allows you to serve your message exactly when the prospect is exploring that category or topic.

Increased Engagement

Armed with intent insights, you can deliver personalized experiences that resonate and capture interest when someone is actively in the market for your types of products.

For example, ecommerce sites can showcase specific products a visitor showed intent in, rather than generic recommendations. Content offers can be tailored to the topics prospects are researching.

Higher Conversion Rates

One of the biggest benefits of intent data is it allows you to connect with prospects when they are actively evaluating solutions, which directly translates to higher conversions.

Think of intent data as picking the fruit when it‘s ripe – you are catching the prospect at the peak of their buying journey when they‘re most likely to convert vs spraying and praying.

Improved Lead Quality

Generic inquiries often waste a sales team‘s precious time. Intent data helps you identify and focus on nurturing leads that have demonstrated real purchase intent vs just casual interest.

Prioritizing high-intent leads translates to less time spent on unqualified prospects and more conversions from marketing to sales.

Enhanced Account Based Marketing

For B2B marketers, detecting purchase intent signals from your targeted accounts can help coordinate personalized, multi-channel outreach at the right time. This is invaluable for ABM.

Competitive Intelligence

Monitoring interest and intent around competitor products allows you to make smart marketing and sales strategy decisions. If prospects are actively comparing you vs another provider, you can tailor messaging and offers accordingly.

Those are just a few of the many ways properly utilized intent data gives brands a competitive advantage across the customer journey to drive more revenue. Let‘s look at where this valuable data comes from.

Sources of Intent Data

Broadly speaking, there are three primary sources of intent data available:

First-Party Intent Data

First-party intent data is proprietary data collected on a brand‘s own digital properties including:

• Website activity
• Mobile app interactions
• Content downloads like whitepapers or ebooks
• Account-based engagement across channels

First-party data is extremely useful for gaining insights into your existing audiences. However, it only provides visibility into people already interacting with your brand in some way. To identify net new intent prospects, additional sources are required.

Second-Party Intent Data

Second-party data refers to unique intent data that is shared from first-party sources like:

• Media companies
• Publishers
• Intent data platforms

This could include data on content engagement, advertising exposure, and browsing behavior collected by these parties.

Securing second-party intent data partnerships beyond your own channels expands your intent insights beyond existing audiences. However, scale can still be limited.

Third-Party Intent Data

Third-party intent data provides the largest scale and reach. Companies like Bombora and 6sense aggregate anonymous intent signals from thousands of media companies, publishers, and data providers.

This allows collecting intent data from millions of online touchpoints. While typically anonymous, these large datasets uncover buyer intent at scale.

For most brands, a blend of first and third-party intent data provides an optimal balance of internal insights and mass reach to maximize impact.

Next let‘s explore how intent data providers actually analyze and make sense of all these digital signals.

Converting Digital Signals into Actionable Insights with Machine Learning

Advanced machine learning algorithms power modern intent data platforms. But how exactly do they work their magic? Let‘s dive into two primary approaches:

Pattern Recognition Models

This technique utilizes historical datasets to uncover correlations between specific online behaviors and future actions like purchases.

For example, a pattern recognition model might identify:

• Visits to certain product review sites often precede a high ticket purchase.
• Downloading a specific type of whitepaper frequently indicates buyer interest.

These patterns are ingested by models to identify and score future signals of purchase intent.

Propensity Modeling

Propensity modeling is focused on scoring individuals or accounts based on their current digital footprint and attributes. Data like:

• Pages visited
• Ad clicks
• Search keywords

Are combined into a composite intent score using algorithms like regression, neural networks, and gradient boosting machines.

Propensity models are highly customized based on unique buyer traits within a business or industry. This enables tailored insights.

Leveraging both approaches allows intent platforms to deliver nuanced segmentation, personalization and predictive capabilities from digital signals.

Now let‘s switch gears and explore steps for implementing intent data.

Getting Started with Intent Data

Here are best practices I recommend for harnessing intent data to achieve results:

Pick Provider(s) Carefully

Taking time to thoroughly evaluate potential intent data partners is crucial. Here are key factors to assess:

• Data Quality – Sample reports to measure accuracy, depth, and relevance of insights.
• Algorithm Sophistication – Review their modeling approaches and machine learning capabilities.
• Ease of Use – Test the platform‘s workflow and outputs to ensure they integrate well with your team and existing stack.
• Data Security – Verify compliant data practices and privacy protections are in place.

Many providers offer free trials which can be extremely useful for hands-on evaluation before committing.

Integrate with Your Existing Tech Stack

The best intent platforms provide APIs and seamless connectors to integrate data across your martech and sales tools including:

• CRM
• Marketing Automation
• Ad Platforms
• Account Based Marketing Tools

This allows activating intent across channels to boost relevance. Don‘t let data sit siloed in a standalone portal.

Analyze & Segment Intent Report Data

Dive into provided intent reports to identify patterns, segments, and optimization opportunities. Look for:

• High vs low value prospecting accounts
• Trends by campaign, region, industry etc.
• Rising competitor interest
• New target segments

Analyze the data both at an aggregate and granular level to uncover insights. Look for ways to blend with first-party data for custom insights into your audience.

Refine Campaigns & Experiences

Armed with intent insights, you can fine-tune messaging, offers, creative and channels to maximize relevance.

For example, adjust ad copy and landing pages to align with topics prospects are researching. Identify new audience segments interested in capabilities you offer but aren‘t actively marketing to.

Measure Lift

Proving the value of intent data requires measuring incremental lift generated. Set up dedicated campaigns, promo codes or landing pages tied specifically to intent audiences to quantify the impact.

Without lift measurement, it‘s impossible to derive true ROI. Start with small controlled tests, measure incrementality and expand usage across channels that deliver results.

Now let‘s look at specific ways top brands put intent data into action across the customer journey.

Best Practices for Activating Intent Data

Intent data can be leveraged across every channel and touchpoint to boost relevance and performance. Here are some high impact use cases:

Targeted Ads

Serve dynamically tailored ads to prospects signaling early stage research intent or late stage buying intent across channels like:

• Search – Remarket to recent site visitors
• Social – Reach those reading relevant content
• Display – Use custom affinity segments

Add Company ontent: Target accounts showing aggregated intent

Personalized Email

Identify contacts with relevant purchase intent signals to send customized messaging and offers. Use intent insights for:

• Subject line personalization
• Dynamic content blocks
• Calls-to-action
• Lead scoring

According to Aber, 72% of brands using intent data see significant lift generated from email campaigns.

Enriched Leads & Opportunities

Tag and route incoming leads to sales reps based on purchase intent markers. Use intent scoring to prioritize outbound follow-up intensity for booked meetings.

Intent Audiences for Webinars

Use intent insights around topics prospects are researching to target webinar promotions. This increases opt-ins by 2x according to Demandbase research.

Retargeting

Remarket to past site visitors who did not convert initially but demonstrate continued interest in your offerings based on their ongoing digital body language.

Account Based Marketing

Detecting spikes of research or buying signals from target accounts allows coordinated, multi-channel outreach at the ideal time.

Intent data gives ABM programs the context needed to time orchestration perfectly.

There are countless ways to apply intent across marketing, sales, and account management teams. The key is integrating it into existing processes and systems to boost relevance and response rates.

Now let‘s tackle an important question on many readers‘ minds around using intent data – privacy.

Privacy Considerations and Protections

With the sensitive nature of online consumer data, using intent data ethically requires respecting individuals‘ privacy.

Here are some best practices the most reputable intent data providers follow:

• Pseudonymization – Personally identifiable information is removed from data before modeling and analysis.
• Consumer Opt-Out – End users can easily opt-out of data collection and targeting.
• Transparency – Providers are upfront about what data is captured and how it is processed.
• Reasonable Data Retention – Policies limit how long data is stored before deletion.
• Regulatory Compliance – Data collection and usage follows all local regulations like GDPR and CCPA.

Additionally, intent data focuses exclusively on anonymous digital indicators collected en masse vs personal information. With sound privacy safeguards, intent data helps brands personalize experiences using only anonymous signals.

As privacy laws evolve, ethical intent providers continuously adapt their practices and technology stack to align.

Emerging Trends and the Future of Intent Data

So what does the future hold for intent data? Here are some emerging trends and predictions:

• Identity Resolution will enable connecting intent signals from an individual across devices and sessions without relying on third-party cookies.
• First-Party Modeling will empower brands to build intent models tailored to their own customers‘ data.
• Contextual Signals like browsing content and tone may gain importance as cookies decline.
• Aggregated Metrics can reveal market-level trends without sharing personal data at all.
• Embedded Support will allow more plug-and-play intent integration without reliance on data scientists.

While changes to mobile IDs, browsers, and regulation loom, the future remains bright for helpful, privacy-conscious uses of ethically sourced intent data.

Comparing Top Intent Data Platform Providers

Now that you‘re sold on the value of intent data, you likely want to get started. Here is a comparison of leading intent data platform providers to consider:

Choosing the right platform depends on your industry, budget, data needs, and specific use case requirements.

I recommend starting with a free trial to test the capabilities and results before fully committing. Measure impact and expand usage across other teams and channels that deliver significant incremental value.

Measuring the ROI of Intent Data

Given tight marketing budgets, demonstrating positive ROI is crucial before scaling intent data investments. Here are two approaches to quantify value:

Incrementality Testing

The most accurate method is establishing a baseline without intent data, then running controlled campaigns with the audience segments enabled to measure lift. Lift can be measured via:

• Increased conversion rate
• Higher lead quality
• Reduced cost per acquisition
• Faster deal cycles

Algorithmic Modeling

Analytics tools can also model incrementality of intent data using algorithms. For example, MediaMath‘s ROAS algorithm compares performance of intent audiences to baseline groups.

According to Aber research, intent data delivers average returns ranging from 2x to 8x depending on industry and use case.

The Takeaway: Intent Data Drives Results

We‘ve covered a lot of ground exploring the what, why and how of intent data. The key takeaway is that by identifying prospects exhibiting buying signals, brands can serve relevance when – and only when – it matters most. The result is more conversions, pipeline velocity, and marketing ROI.

While navigating the evolving privacy landscape will require adjustments, intent data is becoming more accessible and actionable than ever for B2B and B2C marketers alike.

With the right strategies and data partners, you can acquire customers more efficiently, maximize lifetime value, and deliver personalized experiences. Isn‘t it time to start tapping into buyer intent signals to drive your business forward?