INTENT MARKETING? DO TELL.
“Sell me this pen.” Leo comes in hot with this classic The Wolf of Wall Street line. He reveals his intent to purchase, but nobody can close. Should a potential consumer reveal intent to purchase and you have no clue how to sell it, the odds of your sale will wilt like the Cavs in this year’s NBA Finals. If this happens on occasion with your brand, we may have the solution in our crystal ball.
Let’s talk intent marketing. If you’re unfamiliar with the term, here’s a quick breakdown: Intent marketing works best after a consumer has expressed their intent to adopt or purchase. The intent is pulled from the accumulation and analyzation of big data, allowing marketers the ability to leverage the data they’ve collected. The idea behind this is that your strategy can be tailored to expressed needs and wants rather than keeping your fingers crossed that content just sticks and draws leads.
These categories can be analyzed to determine signs of intent and function best when analyzed together. Data is powerful when dissected intelligently and dangerous when used erratically. Bust out the screwdriver and tighten your strategic approach by gathering and examining as much data as you can.
SHOW ME THE MONEY
Intent marketing is a smarter approach for your brand, strategically and fiscally. If you put too much stock in demographics to reach consumers, you’re going to miss a sizable chunk of potential shoppers. Studying and understanding consumer intent is powerful. These insights provide further information to enhance existing selling strategies or to create new ones. Set up your tracking tools, then kick your legs up and let the data roll in.
Another plus for intent marketing is a higher projected ROAS (Return on Ad Spend) at a lower cost. How can this be true? Good question. Answer: Understanding intent gives marketers access to all the tools available to them without having to make an educated guess as to who the audience is or what consumers might be looking for. Why run the risk of missing out on potential revenue and drop cash like a kid in a candy store when you can generate more money, leads, and sales while spending less utilizing intent data?
INTENT IS EASY LIVIN'
Intent marketing creates a better consumer experience. Data is here to help, not intimidate. Marketers can be reactive with the data they receive so they can properly analyze the insights they’ve uncovered. We mentioned in our blog that the right team must be assembled to execute your strategic objectives effectively when it’s time to put big data to work. Starting with a data collection expert, they’ll define the data sources by looking through research reports, census reports, or conducting primary research. Welcome to stacks on stacks on stacks of reports. Intent will validate the “customer is always right” scenario. It presents a fresh perspective for brands offering a personal and relevant feel for prospective buyers.
Consumer experiences are becoming as important as the product or service you’re trying to sell. A superior product or service might not sell if the experience was subpar. Companies are stepping up their experiential game as we speak. When was the last time you saw a movie in theaters? If it’s been a while, you might be surprised when you see your local AMC has a bar and recliners. You can sip wine with your popcorn as you watch whatever superhero movie came out this month. Levi’s Stadium in Santa Clara created an app to let users know key essentials about the stadium such as food locations, food delivery to your seat, and how long bathroom lines are in the stadium. Every essential for football lovers is mobile. Starbucks developed a mobile app that shook up the hospitality world with trackable rewards points and the ability to send gift cards directly from the app. Not to mention, the mobile ordering feature can change your life. Cutting past the line of peasants waiting to order or pick up their non-fat half-caf cappuccino gives you such a rush you barely need the caffeine anymore.
How we consume is continuously changing. Over the next five years, Mintel states that “[nonessential] categories, including vacations and dining out, are expected to see the greatest gains with projected five-year increases of about 27 percent each.” Positive experiences will not go unnoticed. Understanding intent is how you get there.
IN A NUTSHELL
If your company is data driven and engaged in sales, we suggest you eyeball intent marketing to build a strong foundation of distilled data that can uniquely enhance the customer experience and accelerate your conversion rate. The data gathered from consumers and digital window shoppers will help refine your strategic techniques to be more precise than ever, boosting your chances of a sale. If you’re not analyzing data already, there’s no time like the present. Take a glance at Tom Cruise in The Mummy compared to Brendan Fraser. Change can lead to a big win. OK, bad example. Brendan is the man.
Data is essential to understanding intent. Stay ahead of the pack and gather what you can on current and prospective consumers. Everything you wanted to know is being rolled out on your personalized red carpet. Just sit back and enjoy the stream of juicy insights.
Are you kicking the tires on an intent marketing strategy? Let us know in the comments section below!