Intent data, or intent data, are complex sets of data that, when processed appropriately, become information capable of predicting the purchasing interests of potentials, be they companies or individuals, in the immediate future or in the future. short term.
The process model to carry out an efficient predictive analysis of this data is none other than based on the observation and study of a whole series of metrics of proven value, such as behavior, or searches carried out in digital environments. Being able to impact a potential when they are at the bottom of the conversion funnel, corresponding to the intentionmultiply by more than 5 in your response to proposals.
With a practical example it is very easy to understand. Let’s imagine a renowned manufacturer in the motor sector has to decide how to impact two possible potentials. The first of them is interested in cars and the second is not, but he wants to renew his vehicle because the current one is giving him problems. It is evident that this manufacturer will be more interested in having an impact on those who have a purchase intention that is closer and more defined in time. Why? We know that the first one likes cars, but no matter how much he is interested in them, it is most likely that he is not constantly buying cars. In other words, the intention data allows us to focus on those prospects most prepared to carry out a purchase action for a specific product or service, and not waste efforts on those who are not yet.
When it comes to impacting a manageable number of potential clients, users, or companies, large resources are not required to successfully design and execute strategies that provide the ROI that is being sought, but when it comes to an entire sector, the enormous The number of potential targets that are sought to be impacted value the solutions, strategies and data analytics tools (Big Data) and the solutions designed to extract the maximum value from the intent data.
How can we infer that possible purchase intention?
There are multiple pathways to behavioral data, searches, patterns of correlations, or a combination of all of these. If we continue developing the previous example, Google Ads offers the segmentation of interest in buying cars based on searches; but also if the manufacturer of the motor sector -directly or through an IT provider that provides them with data analytics tools- has geolocated users with an app, it can detect that need, when the potential customer visits a competing dealership, or a workshop mechanic repeatedly.
Big data analytics solutions aimed at extracting value from intent data also serve to determine its value because not all of them are equally valuable. There are critical moments that can trigger very valuable information for multiple companies. For example, if we identify users with the intention of moving house, we identify a very important moment in which many contracts and purchases are decided. At Deyde DataCentric we are working on generating scores for individuals with a high probability of changing their address.
In B2B environments, intention data is also beginning to gain prominence in recruitment strategies. Companies leave many traces of data that can be classified as the content and technologies of their website, blog, networks, activity of decision-makers on linkedin or browsing through their Internet exit IP, which in the case of companies do not It is usually dynamic. With this, it is possible to identify companies that are more prone to contracting a certain technology or corporate benefits for their employees.
What are the intent data that businesses need?
There are two main types of Intent Data, First-Party, or own data, and Third-Party, usually modeled and supplied by a third party. Among these two types, the First-Party are the most powerful because they are built with the information that the company has and they are free of charge. These can be collected from various sources, declarative data collected in your own CRM, behavioral data on web visits, ebook downloads, and apps, responses to campaigns, even information supplied from your own contact-center.
By contrast, third-party intent data often originates from companies whose core business is collecting data and behavior from different sources, and aggregate it to use for advertising purposes. These data do have a cost, and it is important to know their compliance with privacy laws and use only reliable providers in terms of their information collection methodologies.
The benefit that can be extracted from Intent Data by applying the correct analytics strategies is limited almost only by the imagination of companies that request this type of service from qualified providers.
Signed: Gerardo Raído, Chief Digital Officer of Deyde DataCentric
