With over 60% of the buyer’s journey complete before the customer makes the initial hand raise with sales, organizations can be left in the dark on a buyer’s purchase intent well before the buyer’s initial interest. Intent data helps marketing and sales uncover the hidden funnel and get a comprehensive view of an account’s purchase intent. Intent data can be broken into 1st party and 3rd party. Let’s break down what each type of data entails, and how together both types of intent data help ABM programs paint the full picture of the purchase journey.
- 1st party Intent Data
1st party intent data consists of explicit buying signals that comes from interactions customers have on an organization’s properties. When a customer visits a website’s homepage, downloads an asset, or watches a webinar, these are all examples of 1st party intent data. 1st party intent data is very reliable and accurate, it can clearly define who the customers are and if they are showing purchase intent. For example, Triblio customer Flexera was able to target accounts showing confirmed interest by leveraging Triblio’s intent data.
- 3rd Party Intent Data
3rd party intent data consists of research and buying activity that occurs on channels and properties owned by others. 3rd party intent data can come from product review websites, event attendance, google searches, and various other sources. These buying signals typically occur earlier in the buyer’s journey than 1st party intent signals and are very beneficial in pinpointing target accounts early on. This allows marketers to have an extensive view of their total addressable market. In return, having an extensive view of potential buyers allows your team to reach the right accounts at the right time, and earlier than ever before.
- Purchase Journey: Paint the Full Picture
Now more than ever, the use of intent data to identify buying signals has become increasingly important. In a webinar about intent, Triblio’s CEO Andre Yee discussed the evolution of buyer behavior in the past decade and how it has impacted the purchase journey. For marketers to paint the full picture of the purchase journey, 1st and 3rd party purchase signals are necessary to target accounts showing confirmed interest before they reach your pipeline. The ability to identify, segment, and target audiences – drives your company’s efficiency; saving both time and resources when looking for high-fit accounts to fill the pipeline.
Want to reach buyers earlier in the purchase journey? Schedule time with one of our ABM experts here.