The Journey: How to transform ABM intent data into revenue?
The previous edition of The Journey presented a 3-step process for maximizing conversion rates for target accounts: Segmentation, Identification and Activation. Today we take it one step further and discuss a significant, yet often overlooked factor in ABM strategies – Intent data.
Intent – the disruptive factor behind ABM
Let’s start with the bottom line – According to ABM research by Inbox Insight, 88% of B2B marketers claim ABM has improved their conversion rates. There’s no doubt ABM has changed the B2B marketing landscape, and is considered to be a MUST tactic for amplifying opportunities and maximizing ROI. But what is it about ABM that makes it so disruptive?
ABM is first and foremost about data. When marketers hear “account-based data” the first thing that comes to mind is firmographic data – industry, company size, revenue, geo-location and more. As discussed in the previous edition of The Journey, firmographic data is essential in defining your ICP (Ideal Customer Profile) and generating target lists. But not all ICP accounts should be considered as equals… In order to be cost-effective, B2B marketers must allocate resources to target those accounts that are more likely to convert. And then came Intent data 🙂
Intent is a way to quantify the level of interest an account has demonstrated in relation to your brand and product. In other words, are they in the market for your product? Intent data can be derived from multiple sources:
- 1st party data – CRM, Marketing Automation, Chatbots…
- Review sites
- Search for keywords
Now that we’ve learned what intent data is and where it comes from, let’s see how to put it into play.
Turning intent into action
ABM vendors supply their customers with account-level data (like intent), and as always with data, the question is – what do you do with it?
Account-based data becomes actionable by segmenting target accounts into audiences based on all the attributes we’ve mentioned (and more) – intent level, industry, revenue, stage in the buyer journey, persona, and the list goes on… Building audiences of high intent ICP accounts allows marketers to focus their efforts and resources on individuals that have already expressed an interest in their product, hence – increasing the likelihood of conversions and boosting revenue.
The next step, also provided by most ABM vendors, is creating and managing paid campaigns to target these audiences. Most of these paid ads have one destination – marketers lead their high intent qualified traffic to the website where they can “learn more” about the company.
Trendemon recently explored customers’ data to understand paid traffic trends. Here’s what we’ve uncovered:
- 14% of website visitors are referred from a paid source
- 89% of pageviews from paid sources are either from Google or LinkedIn
- 72% of paid traffic that lands on the website is leaving after just one pageview!!
Looking at that last bullet, we can easily conclude that B2B websites are under-performing… But why? According to Inbox Insight’s ABM research, most marketers (46%) state their biggest ABM challenge is delivering relevant content to target audiences.
How to seal the deal – account-based website personalization
Paid ads drive high intent qualified traffic to the website, and these target accounts are already interested in your product (they’ve clicked on that paid ad for a reason…). The alarming statistics of website traffic churn teach us that target accounts need to be engaged with the right experience in order to seal the deal and turn them into sales opportunities.
This is where website personalization comes into play and ensures each website visitor is served with the right content experience at the right stage on their buyer journey.
Trendemon is automatically moving buyers through the website – transforming anonymous website visitors into revenue.
In the beginning of 2022 we partnered with 6sense to power our customers with more actionable account-based data. Trendemon activates this data by building autonomous orchestrations to increase content engagement and boost conversion rates at scale.
Click here to see the results.