Many data sources can be used to gain business insight. Intent data is one such data source that can benefit your company. Here are some facts about intent data.

Let’s get into the subject and find out what intent data is.

What’s Intent Data?

Intent Data allows marketers and companies to gather information about customers’ behavior to create better marketing strategies.

Brands can then use this information on various platforms such as email, SMS, and social media.

This data is collected to understand the customer’s interactions with the service or product, and what they like and don’t like about it.

An intent-based marketing strategy collects data from app users who look at specific parts of your mobile app or interact directly with your brand through different channels (in this instance, we are talking about email and social media).

Analyzing customer engagement data can give you insight into the products and services your customers want.

This information can be used to create a campaign that speaks to your customer’s needs and wants regarding the service(s).

We now know what intent data is, so let’s get on with the business of understanding who should use it.

Who should use Intent Data?

Companies that want to understand their customers’ interactions with their products can use intent data best.

This data can be used to help marketers decide which ads work well and where they should be placed on the website.

What does it mean?

Machine learning can use intent data to identify a customer’s intent. It is based on patterns found in the purchase path.

If a customer spends $100 and then makes 2 additional purchases of $75 or more, they are likely to purchase an additional $100.

It can also predict whether a customer will purchase another product after they have made one.

The Pros and Cons Of Intent Data

To determine the performance of your marketing channels, B2B marketers most often use intent data.

It is a great way for you to understand what your customers do and how you can improve each channel. However, intent data has some limitations that you should consider before implementing them in your company.

Since it is not accurate, intent data has been widely criticized in the last few years.

It tracks customers’ visits, downloads, and clicks on ads but does not consider other activities like filling out forms or sending emails.

This leads to people believing that intent data is not reliable and inaccurate. However, it can still be accurate if you analyze your data using more complicated algorithms than Google Analytics.

Bottom line: The more sophisticated algorithms you use for analyzing your data, the greater chance there is of being able to establish a clear picture of your customers.

Intent Data Examples from Companies

Advertising and marketing professionals are increasingly focusing on intent data.

LiveIntent is one of the leading companies in intent data. It says that brands use intent data to understand what consumers mean when they interact with advertising.

According to the company, 91% of online sessions are initiated by scrolling or viewing video content.

These behaviors can be a great way to pass on a lot of value to marketers.

Two types of companies can use intent data: B2C or B2B. Online advertising has seen a lot of progress in intent-based marketing over the past few years, with companies like LiveIntent seeing explosive growth during 2017.

Conclusion

We’re here to share the most recent trends in AI and data science with you. Data is vital to the growth of your business.

Data can be used to better understand customers and their products. This will lead to improved customer service and loyalty. I trust you now understand what intent data is and how it relates to your business.

Knowing your customers’ needs and wants will help you create a better product. To do this, you must be able to gather data from customers in a systematic manner.

This allows us to analyze our customers’ usage patterns and determine what they like and dislike about your product.

This is it for now. We’ll see you again with a new topic. Keep the conversation going by leaving a comment below.