Firmographic data refers to the “demographics” of customer businesses. What is the vertical industry of the company? How long has it been around? How much does it cost? How many people are employed by it? You get the idea.
This data provides information and insights when businesses interact with your resources. They help paint a better picture of who is buying your goods or services, but in terms of entire businesses rather than authorized purchasers. This information can identify the skeleton of your B2B marketing.
The importance of intent data in marketing
You can already see a dozen different ways that intent data can influence the types of marketing used to promote your business. For all of the specific ways it can inform your business and help you enhance your practices, intent data boils down to one major concept.
It allows you to measure the buying process. You can analyze interactions before buying decisions and measure every part of the customer journey, even beyond the purchase. That’s the power of intent data.
You can imagine how many different ways this data will improve how you operate. You aren’t comparing the customer journey; you’re directly measuring every step. You can see exactly how your interactions with customers translate into sales, customer satisfaction, and long-term positive outlooks.
As for the specific ways to glean insights, those are limitless. You can look at conversion rates for outreach programs, see who is interested in your engagement tools, track how you get in touch with customers, and learn what behaviors correlate with missed opportunities. The more data you have, and the more you analyze it, the more you can learn.
How to collect and use intent data
Considering everything you stand to gain, it’s time to discuss the obvious question. How do you actually get your hands on buyer intent data?
First, let’s talk about third-party data. You can work with a third party and purchase access to their data, and that’s really the whole story. There are several intent data providers that can help you source quality information for your business. Or, you can contact data resources directly and try to negotiate access to anything you think will be helpful.
But, we already discussed the value of first-party data, and you would be missing opportunities if you didn’t collect and utilize this information to the extent that you can.
Collecting your own intent data is a matter of utilizing tech tools that are already available. You can start with your business website, Google Analytics, and other professional resources that provide data tracking and categorize all activity on your website.
You can also collect data with other resources, like social media. You can track data related to paid advertising campaigns or anything else you use to reach customers. The point is that you can install or utilize software that tracks all of this for you.