How Intent Data Can Increase Sales Pipeline By 15% Over 90 DaysPosted on 19 Jun
Everybody wants a fatter pipeline and more deals closing. We’re going to tell you the true story of how intent data was the perfect play for 1 SaaS company.
Everything you read in this post comes from the true story of how CloudHealth Technologies grew their pipeline by 15% using intent data – within 90 days.
And, how they booked a Sales call within 60 minutes of using intent data.
We know the insane power of intent data but this is one of the most powerful stories from any client we have ever heard in our 7+ years of supplying intent data to B2B companies.
Let’s get right into it… and if you’re not 100% sure on what intent data is you need to read this post first.
- Finding new leads
- Better quality leads
- Identifying new accounts
- Finding real decision makers
- Supporting initiatives
- Save time on bad leads
- Fueling ABM
Finding new leads
It sounds simple, but not every Sales team will hunt for their own leads. It’s not always the best strategy based on their business model and how their Marketing team works.
Sometimes, Sales just needs more to feed on.
Finding new leads isn’t so straight forward if Sales isn’t supposed to be looking. Marketing try their best to generate as many leads as possible. But this can often cost endless amounts of budget that do not exist.
So how is intent data any part of this?
Simply, intent data finds what you cannot find yourself.
It can be a key part of your advertising tool stack and inform many aspects of your Marketing, but primarily it will tell Sales who to reach out to and when.
Sales people have a very, very wide market to prospect into. They will get the generic “reach out in 3 months” responses or reach prospects who they think are the right prospects but are not.
Intent data is the simple way to identify which prospects are in-market right now, even if you don’t know their name or have never heard of the company.
When you think about it, prospecting based on the accounts and leads we know and can find week to week is like catching a drop in the ocean. There are vast numbers of accounts and leads who are out there that we’d never even find, let alone know were in-market.
Better quality leads
Who doesn’t want better quality leads?
The thing is, most outbound prospecting is done to ice cold leads. It’s cold out there in the field and Sales reps are trying to get time on prospects’ calendars when they didn’t even know who the rep reaching out to them is.
It’s a little bit like this…
Intent data does not change the way this stories goes.
But it does allow the Sales rep to speak to the prospects who are more receptive to talking about solutions that you sell. This is because they are showing intent to buy, your intent data provider has identified these contacts for a reason.
So when you reach out, your response rate is going to be higher. How much higher is down to your subject line, messaging, follow up, voicemail, social messages, social shares and quality of prospecting overall.
If you want to know exactly how WE prospect using intent data, read this post.
Identifying new accounts
It is impossible to know every single account out there that is in-market for your solution at every moment of the day.
But intent data is as close as you can get to monitoring this. This includes the accounts you’ve not heard of, or prospected to before.
Well, think of it like this.
More accounts to pick from. More decision makers engaging with you and competitors. That’s more prospecting activities you can do easily without spending any time searching for or researching accounts. That is more meetings booked, which is a fatter pipeline, which is more deals closed.
You might be wondering if all of this information gets used by real sales teams. The answer is yes, our sales team and many others…
As CloudHealth Tech found, Sales sometimes just need more leads and accounts to go after. Having more means you can cherry pick the best of them at worst case, if there are too many. Having more means you can reach more and get enough activities out there to your prospects.
Finding real decision makers
Describe your buyer persona, what is the specific job title of the decision maker?
How many times we have seen the actual decision maker is not the same as what we thought it would be, is amazing. This is especially the case in Marketing teams now, where Operations are taking more and more weight than before.
So, how do you find the true decision maker?
You can make a guess, use your data from closed deals and see which titles are most prominent. But that shouldn’t take too long.
Intent data will tell you when decision makers of the right seniority level are showing intent to buy, as well as their champions too.
If decision makers in Marketing are looking at a vendor like LeadSift, not just the champions, you have a big indicator that the senior prospect your intent data provider has found is the real decision maker.
It’s time to reach out to them. Reaching out to the champions in their team it would be a smart idea too with the knowledge of who the decision maker is.
We’ve collated 6 cardinal sins you can NEVER make in prospecting outreach. Read here to make sure you don’t make them!
New hires. Decision makers changing jobs. New partnerships and acquisitions. New product releases. Funding rounds. All of these triggers could be considered an initiative and a change within your prospect’s walls.
If your intent data provider can tell you when these events happen, you can be the first rep to support the prospect at the time.
For example, if they have opened a new office you can relate to when you changed office and ask how the transition is going. This is gentle, friendly and not a pest-email. It has mention of your own experience which the prospect can relate to.
Support the prospect during these times, even if it does not mean you get a demo booked.
Get the recording of that webinar here.
Save time on bad leads
It’s obvious, spending time on leads who will never buy wastes your time. If you prospect to decision makers who are not interested in hearing your message, you can follow up. But if you take over 10 touches to get a response, imagine how many minutes you wasted when they eventually say No.
Finding leads who are showing intent to buy is going to reduce the number of times this happens dramatically.
Intent data leads are the antidote for this problem. Hitting your quota while reaching decision makers who do not want your call is one thing.
Imagine what it’s like to hit quota when you reach out to leads who are showing intent to buy – rather than no intent to buy.
Less brush-offs from decision makers. Less hard-no responses. Not as much time spent reaching out to bad leads. More time spent reaching out to good leads. More meetings, more deals closed.
CloudHealth Tech can testify to this, ABM is so powerful when done well. The struggle in ABM is getting the engagement from your target account.
So, how can you get more engagement so you can get into more of your target accounts?
Everyone is going to try and optimize their copy, campaign and test different assets and landing pages.
Maybe it’s the strategy, not the campaign assets you have.
Intent data will of course identify the people showing intent to buy, so if you continuously see the same account showing intent to buy it makes sense to go after them.
Better yet, it won’t be the same decision maker showing intent to buy from you every day, every week. It will be different people within the account.
So run ABM to them. Use intent data to fuel the context your ads rely upon to generate the click through and sign ups.
If you sell Marketing Automation software and your USP is your incredible lead scoring feature, great! Look at your intent data, see which competitors your leads engage with. If it’s your competitor who has an amazing landing page builder tool, tailor your messaging and assets you promote to the accounts who engage this competitor.
Show them your guide to building landing pages that convert and using advanced lead scoring techniques to streamline the user experience.
Here’s our guide on how intent data is used in ABM. A must read if you run ABM campaigns.
Which struggle highlighted in this post do you identify with the most?