The event generated an enlightening discussion around intent data and its applications.
Definitions: “intent data” generally includes “first-party intent data” – site activity and marketing automation system activity, and “third-party data” – activity on other related sites. I did not think about activity detected by company’s systems as “intent data,” though it does make sense.
Approaches that focus on organizational intent are better than relying on the actions of a single individual within the organization
The concept of TAM might be evolving (or “diverging” into two independently useful concepts):
- Total Addressable Market
- Total “In Market”
“Predictive” and “Intent” are complementary concepts. Predictive identifies “look-alikes” based on previous sales, with the need to periodically re-train the model. Predictive is also limited to the “last year strategy:” a concentration on a specific vertical will influence “look-alike” pool, for example. However, “look-alike” list of companies which are currently “in market” would be the most useful.
Marketing fads: last year was “predictive” and this year it is “intent.” Ardent supporters of intent ate convinced intent is more useful: “give me the actual behavior rather than a theoretical one.”
Interesting use cases for intent data:
- Last year closed lost with “no decision;” are they in market now? Should we call them and check?
- An intent data user: “I don’t need new clients! I just need renewals! But, if my customers are expected to renew in about 6 months, and it looks like they are in market, I want my reps to call them now!”
- Trend: account activity spikes with a change in creative. Brands might want to change creative 2-3 times per quarter
- Intent data use in nurturing: JustMedia re-thought its nurturing approach and created two different nurturing categories. The first category of content is used for “surging” accounts (more product-focused information), and the second category of high-level brand content is used for the rest of accounts, which are most likely not yet “in-market.”
Interesting: the panel discussed a personalized video approach, which generates significantly more engagement (including IT organizations). I received an email from a campaign discussed during the event just a few hours earlier. Yes, I diligently watched this entertaining video, shared it with a coworker, and saved it in the folder of “great examples” for later 🙂