What is Cost Per Lead & Why You Should Be Using It

What is Cost Per Lead & Why You Should Be Using It

Advertising and marketing campaigns are key to finding new customers for your business, but how do you know if those campaigns are working effectively? If you’re getting new customers but paying more than they’re worth in ad spend, it could mean an unsustainable future for your business.

Luckily, there’s an easy way to measure how cost-effective your campaigns are. Cost per lead (CPL) is a metric that tells you whether or not your efforts and ad spend are paying off.

In this guide, we’ll take a deep dive into CPL, from what it is to how to lower it. Once you start tracking CPL, you can create more effective marketing campaigns and attract more leads for less money. Keep reading, or jump ahead to these sections:

What is Cost per Lead?

The cost per lead (CPL) is the amount of money it takes to generate a new prospective customer for your sales team from a current marketing campaign. These prospective customers—or leads— have seen an ad, clicked on it, then given some of their contact details in exchange for a white paper or more information about your product, thus keeping your sales pipeline full.

CPL lets marketing teams know if they’re spending an appropriate amount on different avenues of acquiring new leads, such as Google Ads or Facebook Ads. The higher the CPL compared to other businesses in your industry, the less effective the marketing campaign is. Naturally, a lower CPL is considered ideal.

CPL is only one of many metrics that digital marketers often look at. Try not to confuse it with these other abbreviations:

  • Cost per Thousand (CPM) – The cost of 1000 users viewing the ad
  • Cost per Click (CPC) – The cost of one person clicking on the ad
  • Cost per Action (CPA) – The cost of one person buying a product

cpm vs cpc vs cpa vs cpl

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CPM is a more useful metric for companies who are trying to build awareness around their brand, like McDonald’s or Coca-Cola. Users who view the ad don’t necessarily take any action, but they might remember the brand later on.

CPA comes into play for eCommerce companies that sell low-ticket items at high volume. If you’re a B2B company or a brand with a high-ticket item like a luxury car, it’s not as likely that visitors are going to buy a product the first time they click on an ad.

CPC measures how much it costs when a person clicks on an ad in a pay per click (PPC) marketing campaign, which is important for determining how much you should spend. If your average CPC is $1, your conversion rate is 10%, and you want 100 new leads this month, you would need to spend $1000 on that campaign.

How to Calculate Cost per Lead

Calculating CPL is relatively straightforward. Simply divide the amount of money you spent on a campaign during a set period by the number of leads acquired through that campaign in the same period.

How to Calculate Cost per Lead (cpl formula)

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For example, if you acquired 100 leads through a Google Ads campaign that cost $1000, the CPL for that campaign would be $10.

Don’t forget to calculate separate CPL metrics for different campaign platforms. On its own, calculating the CPL for all of your marketing efforts across email, social media, and search engines would have limited usefulness. If the CPL was higher than the standard for your industry, you wouldn’t know which platform’s campaign needed adjustments.

This is why it’s so vital to know where your leads are coming from. You wouldn’t want to attribute John Smith to your Facebook Ad CPL calculation if he actually learned about your product through Google Ads.

A common way to track where leads came from is through a UTM code. A UTM code attaches to the URL of a landing page so that Google Analytics can see which ad campaign referred visitors to the page. You can then count up the number of leads acquired through unique campaigns.

Lead generation software like LeadBoxer automates this process. The Segments feature can add a tag to each lead acquired specifying their industry, location, and referrer, to name a few.

leadboxer segments feature

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Finding your total attributed leads is then as easy as selecting the right filters to see who was acquired in a certain period from a certain campaign.

Cost per Lead Industry Benchmarks

Knowing your cost per lead is only the beginning. By comparing the CPL you calculated in the previous step to the industry average, you can know whether you’re paying too much or just the right amount for your leads.

To help out, GoConvert aggregated data from over one hundred sites and reports to come up with cost per lead averages by industry. [link]

cost per lead averages by industry

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As can be expected, higher-ticket items like marketing agencies and financial services have higher CPLs, with the highest average CPL at $100. Media and publishing, meanwhile, have the lowest average CPL at $11.

6 Ways to Reduce Cost per Lead

If your CPL is a little higher than it should be, don’t worry. There are several ways you can tweak campaigns and acquire more customers for less.

1. Personalize your campaigns

One possible reason why you’re not getting more leads for your money is that your ads and landing page don’t match. Message matching is when the expectation set by the ad is met by the experience on the landing page.

For an example of an ad that gets this right, take a look at what happens when you search for “best CRM” in Google. Zoho CRM claims the top spot with this ad:

best crm

Notice how the phrase “best CRM” is repeated in the title of Zoho’s ad. With a title like that, potential customers know exactly what kind of promise Zoho is throwing out there.

After clicking through, visitors land on this page:

zoho crm

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Notice anything familiar? “Best CRM” is repeated in the page’s header. Not only that, but a call to action and place to submit info is displayed clearly above the fold of the page. From start to finish, potential customers know exactly what to expect from Zoho.

This degree of campaign personalization might seem like overkill, but according to a 2018 survey by Evergage, 88% of today’s customers expect to have personalized shopping experiences.

Resultiks, on the other hand, misses the mark. Search for “marketing automation software”, and you might run across this ad:

marketing automation software

There are some indications within the ad’s title that Resulticks is the right match for marketing automation software, but clicking through to the landing page only confuses matters:

Resulticks

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There’s no sign above the fold that Resulticks helps with marketing automation. Customers might be left wondering if they landed on the wrong page and won’t be as inclined to submit their info for a demo.

2. A/B test ads

Between your keywords, copy, and images, there are several variables influencing how well your ads are performing. It can be tempting to go with your creative instincts when crafting an ad, but instincts don’t guarantee results. Only by running two versions of the same ad can you figure out which elements resonate most with your ideal customers.

Here’s how that might play out in an example ad created by AdEspresso for their eBook:

adespresso ebook ad

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The first ad clearly outperforms the second ad with a higher click-through rate (CTR) and conversion rate. The lower cost per sale shows the marketing team that they’re on the right track with the first ad.

Remember: When you’re A/B testing, it’s best only to change one variable with each test. Tweak the title of an ad during one test, then the image during another. By reducing the number of variables at play, you can be sure about what your audience likes.

3. Rethink your keywords

Every once in a while, go into your ads manager—whether it’s for Google, Bing, or another platform—and analyze how well your chosen keywords are performing. Clean out the ones that aren’t driving leads and spend time optimizing the ones that are. Don’t worry if the keywords you deleted are highly searched. If they aren’t bringing prospects to your business, they’re a drain on your ad spend.

Another way to improve your keyword performance is to target more long-tail keywords. Long-tail keywords are more specific and less searched than broad keywords, but the audience also tends to be more motivated and willing to convert.

4. Lower keyword bids

Those keywords that are converting but with a high CPL? Consider bringing the bid down. Lower bids might drop your search engine campaign’s average position, but it would also give you longer exposure on results pages and more clicks.

It might also be that the manual bid you set months ago no longer reflects the average cost of landing on the first page, as was the case with this client at White Shark Media:

whitesharkmedia bid

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If you don’t want to manually adjust your bids all the time, Google offers Automated Bidding so you can hit your goals without a ton of extra labor. There are several types of automated bidding strategies, including one to maximize conversions. With Maximize Conversions, Google’s AI tries to get the most conversions for your campaign within your budget.

5. Retarget site visitors based on behavior

It’s one thing to retarget people who have visited your site with another round of ads. It’s another to retarget them based on the specific action they took on your site.

Start by analyzing the behavior of leads who have already converted. Keep your eye out for certain trends, like visiting a particular page or taking a specific action before finally making the sale. It may be that customers exhibit the same behavior before buying from you.

A lead generation tool like LeadBoxer tracks all lead website and email activity for you, so all you have to do is go into a lead’s profile and check out where they’ve been and what they’ve done.

leadboxer tracker

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Once you’ve identified certain behaviors that are more likely to indicate that a lead will buy, you can create a retargeting campaign based around those behaviors. For instance, if a high percentage of prospects turned into customers after viewing the pricing page for more than a minute, you may want to retarget future prospects who take the same action.

This strategy can be applied to almost any behavior, whether they only visited your homepage for a few seconds or watched an entire demo video.

6. Check performance by time, device, or location

There are several variables about your audience that may be influencing your CPLs. Take a look at your ads manager and compare how campaigns are performing by:

  • Time of day – When are most leads acquired?
  • Device – Are leads more likely to be on desktop or mobile?
  • Location – Where are the most leads located?

These aren’t the only factors that might be driving up your CPLs. Analyze trends across your audience and try adjusting campaigns to focus on times, devices, and demographics that are performing well.

Use Cost per Lead to Make Your Marketing Campaigns More Effective

If there’s one marketing metric to keep your eye on, it might by CPL. Knowing where your marketing efforts stand next to your competitors’ lets you know if you’re on the right track or if you need to tweak some campaigns.

LeadBoxer simplifies CPL monitoring so you can focus on optimizing your marketing campaigns. The Segments feature quickly filters leads based on which ad campaign first brought them to your site so you can quickly calculate the CPL for each campaign. When it’s time to optimize, use the website and email tracking feature to identify which lead behaviors warrant retargeting. Get started today and try out LeadBoxer for free.

What is Lead Intelligence & Why Should You Care?

What is Lead Intelligence & Why Should You Care?

Imagine knowing your leads’ level of engagement with your brand, the likelihood that they’ll buy your product, and even the best strategies for communicating with them. With that kind of information, you could increase the effectiveness of your prospecting and win more deals. Lead intelligence is what makes it possible.

But what is lead intelligence, and how do you start using it in your business? This guide covers the basics, including the most useful types of lead intelligence and the best tools available today. Once you learn how to leverage lead intelligence, you’ll wonder how you ever managed to make sales without it.

 

What is Lead Intelligence?

Lead intelligence is a form of data that significantly elevates your understanding of your prospects so you can better address their pain points, communicate effectively with them, and win their business. When it comes to B2B sales, lead intelligence is invaluable.

What is Lead Intelligence

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Given how effective lead intelligence is for prospecting, chances are that if your competitor isn’t already taking advantage of this sales strategy, they will be soon. All the more reason why you should start incorporating this form of data into your company’s sales process today.

There are several different types of lead intelligence. Which ones you should focus on depends on the needs of your business.

 

Types of Lead Intelligence

Knowing your lead’s name, email address, and phone number is just the beginning of lead intelligence. The following data points tell you just how interested prospects are in your product, what their pain points are, and how you can better connect with them.

Site visitors

Who’s visiting your website that isn’t already on your radar? Some lead intelligence software can unveil a visitor’s name, contact information, and company before they ever fill out a form.

Given that only 2% of website visitors fill out a form, being able to tap into that other 98% is a game-changer.

 

Contact information

If you know your lead’s name and company but don’t know how to reach them, there are tools available that can dig up and verify their email address or phone number for you.

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A Chrome extension such as this one from Lusha or a contact database like ZoomInfo both make it simple to find up-to-date info for all of your prospects.

Company details

If a company has recently received a big investment or has launched a new project, you should know about it. This information can give you insight into whether or not now is the right time to reach out with your offer. Updates about new hires or job changes also let you know if you’re contacting the right person.

Demographics

Study your company’s ideal customer profile, then make sure your lead intelligence software is gathering any details you need about a prospect’s age, job role, and geographic location. Knowing that a prospect has the essential characteristics of your ideal customer ensures that you spend time reaching out to the best leads.

Social media profiles

There are more ways than ever to connect with prospects. Knowing their LinkedIn profile, Twitter handle, or other social media profiles gives you more opportunities to engage with prospects outside their inbox and earn their trust. It also helps you come up with talking points based on the content they’ve recently posted.

Pages visited

Knowing the number of pages a prospect visited on your site can help you gauge their level of interest in your product. Lead intelligence can take it one step further and show you exactly which pages they’ve visited and how long they spent on that page, shedding light on what problems they need help solving.

Emails opened

Ideally, you also want lead intelligence software that can integrate with your email marketing platform to show you which emails a prospect opened, how long they spent reading the email, and if they clicked through on any links.

Site revisits

Does a prospect often return to your site? This can signal a greater level of interest in your product. Some lead intelligence software will alert you at the moment of a site revisit so that you can reach out while your at the top of a prospect’s mind.

Personality characteristics

Knowing if a prospect prefers to communicate by email or phone is sometimes the difference between making or losing a sale. Some lead intelligence software can also clue you into their negotiation style, mannerisms, and questions that are most likely to prompt a desirable response.

Lead Score

Now that you have all this lead intelligence, how do you make sense of it quickly enough to take action? A lead score takes all the data you’ve gathered on a prospect and turns it into a number that indicates the likelihood that they’ll buy. There are formulas out there for calculating this yourself, but it can be a tedious process. Luckily, some lead intelligence software will make this calculation for you.

 

The Best Lead Intelligence Software

There are several different types of lead intelligence tools available that can find and help you interpret the best data on your prospects.

LeadBoxer

LeadBoxer is a solid all-in-one lead intelligence option that integrates with your CRM and marketing tools of choice. Not only does it help you identify and track website visitors and email behaviour, but it also assigns them a leadscore based on their engagement with your brand across multiple channels and mediums. With LeadBoxer, not only do you know what kind of content prospects are most interested in, but you immediately know which prospects are most worth pursuing.

 

HubSpot Sales

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CRM heavyweight HubSpot offers sales tools that anyone can start using for free. The paid version of the platform comes equipped with features that identify prospective companies and their level of engagement. It can also track page views, pages visited, and the number of visitors from each company. However, HubSpot Sales doesn’t identify individual or anonymous visitors to the degree that LeadBoxer does.

 

VisitorTrack

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In addition to identifying and tracking anonymous website visitors, VisitorTrack offers intent data about a business. Intent data indicates that a prospect has been actively researching topics relevant to your business at other locations around the web. For instance, if you sell a marketing automation solution and a visitor to your site has been researching similar tools or topics on other websites, VisitorTrack will let you know.

 

Albacross

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Like HubSpot Sales, Albacross identifies companies that are visiting your website and shows you how engaged they are. It also goes into stats like the company’s revenue, the number of employees, exactly which pages they visited, and how long they spent on the site.

 

Albacross doesn’t identify individual visitors, but it does offer a list of GDPR compliant email addresses for decision-makers at the companies visiting your site. With this tool, you can have a better idea of whether or not the person you’re contacting has the authority to make a purchase.

LeadSift Buzz

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Buzz from LeadSift tracks what’s going on at a prospective company, such as if they found new sources of funding or launched a new product, eliminating the need to do that research yourself. In addition to curating all this news for you, Buzz offers guidance about what to do with that information, taking the guesswork out of conversation starters or talking points.

 

Crystal

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Crystal sets itself apart from other tools in this list by focusing on intelligence about a lead’s personality. This is especially useful for when you’re ready to contact a lead, deliver a proposal, or negotiate a contract. Few other tools can offer the same level of insight about a lead’s personality that Crystal can, but it doesn’t track their level of engagement with your brand or tell you how likely they are to buy.

 

LinkedIn Sales Navigator

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LinkedIn Sales Navigator leverages a platform that both you and your prospects are already using. Sales Navigator comes with advanced search functions that make it easier than ever to find leads that match your ideal customer profile and can even recommend leads that you wouldn’t have thought of.

Lusha

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Lusha is one of the highest-ranked lead intelligence tools on G2. Its Chrome extension provides B2B contact enrichment based on profiles from places like LinkedIn or Twitter, making it easy to build up your list of prospects while you browse.

Use Lead Intelligence to Find and Engage With Qualified Prospects

If you’ve ever felt like you’re engaging with too many prospects and have not enough to show for your efforts, it’s time to integrate lead intelligence into your sales process. With lead intelligence, you’ll know exactly which prospects you should focus your attention on, plus which talking points you should use with them and how to engage with them in a way that earns their trust.

When it comes to choosing a lead intelligence tool, you can’t go wrong with an option that gathers data about anonymous visitors from a variety of sites and platforms, then interprets it into an actionable lead score. That way, you’ll spend more time on prospects who intend to buy and win more deals.

 

25+ Account-Based Marketing Tactics & Software Solutions

25+ Account-Based Marketing Tactics & Software Solutions

Not seeing the sort of close rates you want? If your primary marketing strategy has been to “cast a wide net”, consider only going after your white whales – your ideal accounts – instead. Known as account-based marketing (ABM), companies that treat individual prospects like an entire market can generate 208% more revenue than those who don’t according to MarketingProfs.

In this article, you’ll learn 20 of the best ABM techniques, from how to choose which accounts to focus on, to mapping out their personalized marketing experience. You’ll also discover 7 ABM software solutions; since there are more moving parts in an ABM strategy versus a one-size-fits-all marketing strategy, you’ll need the right tools to keep everything running smoothly.

What is Account-Based Marketing?

Account-based marketing (ABM) is a strategy of making marketing decisions based on the characteristics of target accounts and prospects. It involves creating a highly specific list of potential accounts, then creating personalized marketing experiences to engage those prospects.

This strategy requires that a business’s sales and marketing teams work more closely together. Sales reps in charge of those accounts can give crucial insight to their marketing peers, who can then develop custom content, targeted ads, and other unique methods of engaging with prospects.

Depending on the needs and resources of an organization, ABM can take either a one-to-one approach or a segmented approach, where a few or many accounts with common traits are targeted with similar content.

Account-Based Marketing Tactics & Techniques

Since ABM is a more holistic marketing strategy, plan to incorporate at least a few of these techniques into your final marketing plan.

1. Market to current customers

Before filling your target account list with companies you don’t yet work with, take a look at your list of current customers. Upselling to current customers is proven to have greater ROI than converting new customers; SaaS companies on average spend just $0.28 to earn a dollar of revenue from an existing customer, whereas they’ll spend $1.18 on a new customer.

To market to these existing customers, make content that will help them get more out of your product. Blog posts are just the beginning. Consider offering free training sessions or reports that analyze how effectively they’re using your product.

Another way to market to this group is to target them with ads for discounts or special offers on additional products that are relevant to them.

2. Define target accounts with look-alike modeling

You should also look at your current customers to see who is the most valuable, in other words, which existing accounts have the highest ROI or send the most referrals your way. Highlight what attributes these customers have in common, then use them to build a look-alike model to help you identify the best prospective accounts.

Once you have your look-alike model defined, search for companies with similar characteristics in places like LinkedIn. A data vendor like D&B Hoovers can also help you zero in on accounts that fit your look-alike model.

3. Identify accounts using intent data

These days, the average B2B buyer is 67% of the way through the buying journey before seeking out a salesperson. That’s a long time to wait before engaging with a prospect. Intent data can tell you who is researching topics that are relevant to your product before those accounts ever land on your website, helping you target them sooner.

aberdeen 2

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Vendors like Bombora and Aberdeen can identify companies who are expressing intent but haven’t yet interacted with your site. However, they can’t give you details about the individuals doing the research. A solution like LeadBoxer can provide the contact information of individuals who are engaging with your site but haven’t yet reached out to your sales team.

4. Build a list of role-based contacts

While building a list of target accounts, you’ll also want to build a list of contacts within those companies. Researching people based on their job title can be tricky, especially if they’re part of a small company and tend to wear many hats. Instead, focus on what roles people have within a company.

ReachForce

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This isn’t easy to do manually, but some vendors exist that can help compile lists for you, including ReachForce. ReachForce can enrich your contact data and validate it for you, so your CRM will never be clogged with defunct contacts.

5. Map an account’s decision-making structure

It’s imperative to know exactly who is responsible for making purchasing decisions, as well as how they work with or answer to other people within the organization. Says Scott Albro, founder and CEO of TOPO, a research and advisory firm:

“Detailed account profiles that focus on organizational structure can be effective tools….but the holy grail is understanding how things like power structures, personalities, and coalitions impact purchasing decisions.”

6. Engage with target accounts on social media

Once you have your list of target accounts, it’s time to engage with them. One of the most immediate (and free) ways you can do that is by following them on social media, then interacting with them. Here are a few tips for keeping engagement authentic and effective:

  • Comment on their content only when you have something of value to say
  • Reshare their content to your feed when it makes sense for your audience
  • Join groups they’re in and establish your expertise by answering questions or offering free resources

For more ways to generate leads through a channel like LinkedIn, check out this guide.

7. Pay attention to current events

What’s going on at a company can play a big role in the kind of messaging you incorporate into their marketing. Follow their Twitter or LinkedIn and keep an eye open for any press releases, announcements, or other news that they’re putting out.

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You can also set up a Google Alert, which will scan the web for certain content and inform you of any relevant article. If something significant changes with the company, you’ll be able to pivot your marketing strategy or rework the messaging.

8. Segment and personalize email campaigns

Evidence abounds to support the idea that one-size-fits-all email marketing is going the way of the dinosaur. According to Experian, personalized subject lines are to thank for a 26% increase in open rates, while DMA claims that marketers who use segmentation have seen a whopping 760% increase in revenue.

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If you’re not already taking advantage of this tactic, here are some tips to get started:

  • Segment email lists by job role and where prospects are in the buyer’s journey
  • Adjust messaging of emails to reflect segments
  • Personalize the subject line and content with dynamic tags, such as the ones above used in HubSpot’s platform

9. Create custom content for individual prospects

Though you might groan at the thought of creating even more content, this is a strategy that’s proven to get people’s attention. A survey from CEB shows that prospects who received content personalized to their specific needs were 40% more likely to buy from that supplier.

vidyard

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Custom content also doesn’t have to be time-consuming. Take the video above. Kyle Jepsen, a HubSpot Academy Sales Professor, received this personalized video from Cole, a representative at Vidyard.

Cole doesn’t stick to a script but instead mentions Jepsen’s colleagues and the interactions he’s had with them. Not only is this guaranteed to grab someone’s attention, but it comes across as a more natural and genuine attempt at forging a connection. It also took Cole only a few seconds to make and is on-brand with Vidyard, a video making and hosting solution.

10. Mention target accounts in content

One way to get on an account’s radar is to feature them in your published content. By giving them free publicity, you’re benefiting the prospect as well as opening the door for further contact.

Featuring target accounts in content is just one of nine different ABM tactics employed by Thomson Reuters Legal Professionals, a company that  offers legal management solutions. Including the tactic in their holistic approach contributed to their astonishing 95% win rate.

11. Target individuals with custom ads

The ability to target particular demographics through PPC ads has never been more sophisticated. However, you can get even more specific by uploading a list of email addresses or phone numbers of individuals you want to target, then serving them a custom ad.

With Facebook, this works if the person has their Facebook account registered to that email address or phone number. This isn’t always going to be the case, especially if they’re meticulous about keeping their work life separate from their social life.

Google Ads offers a similar targeting option in the form of Customer Match.

12. Create custom ads for retargeting

Retargeting is placing an ad in front of someone who has already interacted with your website. This is crucial for nurturing leads over time and keeping your business top of mind.

Creating a custom retargeting ad is a good first step, but even better is having an ad that’s tailored to an account’s previous behavior on your site.

Demandbase

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Demandbase is one ABM solution that has made exciting innovations in ad retargeting. By placing carefully targeted and personalized ads on a network of properties, Demandbase can cut past the clutter and get clicks only from your key accounts.

13. Create personalized landing pages for ads

If you’re going to be investing the time, effort, and money into creating personalized PPC ads, then you’ll want the messaging of your landing page to match the messaging in the ad. This means building personalized landing pages tailored to different audiences.

Instapage

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Luckily, there are plenty of solutions to make this a painless process. Instapage is a drag-and-drop style landing page builder that simplifies the personalization process. They also have a product called AdMap, which makes it easy to visualize the flow of ads to landing pages, then connect them.

14. Send a personalized gift

A sure way to grab someone’s attention is through a physical gift. This doesn’t mean you should send a box of branded thermoses or pens that will get shoved to the back of an office cupboard. The key is to send something fun, unique, and charming.

Influitive

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Influitive, makers of advocacy and engagement software, experimented with three types of personalized gifts for their ABM campaign. The most notable were pinatas shipped directly to companies. The pinatas contained positive online reviews of the account, social proof about Influitive, and candy (of course). The pinatas received a 36% response rate and a 3.4% sales-qualified opportunity rate, making it their most successful gift-giving tactic.

15. Build one-on-one, c-level relationships

Some accounts will require multiple relationships across different levels of the organization. This ensures that all the decision-makers or people with influence over the buying process are on the same page.

Rather than have one sales agent connect with multiple contacts at the same company, pair employees from different hierarchy levels and divisions with their counterpart at the account. For example, pair a CMO at your organization with a CMO at the prospective company. The CMO should lead with an email or direct mail about the reasons for connecting, then follow up with a phone call and an invitation for a meeting.

16. Send direct mail to executives

Executives have plenty on their plate. They’re not known for promptly answering unsolicited emails or spending a lot of time engaging with other businesses on social media, and rightfully so. Initiating a meaningful connection may take old fashioned direct mail and a little creativity.

Matt Heinz of Heinz Marketing relayed an anecdote about using this tactic to Craig Rosenberg at TOPO:

“We sent two-day packages to executives in advance of a big conference. The package was an empty iPad box. We wrote in the direct mail to come by our booth to pick up the iPad. Most executives came by just to compliment us. It worked.” (Source)

17. Look for an “in” elsewhere in the account

It’s not just your sales reps, marketing managers, or c-level executives that you should be tapping for connections. Reach out to the rest of your organization to see if there are employees in other, seemingly unrelated departments that might have a relationship with a contact at the target account.

TeamLink

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Still struggling to find a way in? The TeamLink function through LinkedIn Sales Navigator is a handy tool for unearthing unthought-of connections between organizations.

18. Offer a free, in-person evaluation

Despite the rise of digital communication, meeting in-person is still critical for business success. One study claims that face-to-face meetings are what it takes to convert 40% of prospects to customers.

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One way to tweak meetings to fit your ABM strategy is to offer free, in-person evaluations of a target account’s current situation. For example, if you’re an advertising agency, offer a session where you compare the account’s current advertising efforts to their competitors’.

Even if you have to travel to the prospect to hold the meeting, take heart: for every dollar spent on travel, businesses on average reap $12.50 in revenue.

19. Plan ahead for conferences

Conferences are jam-packed with opportunities to meet contacts face-to-face, and that level of familiarity is sometimes what’s needed to push an account over the finish line. Here are some tips to plan ahead and make the most of those few days:

  • Research sponsors and cross-check it with your list of target accounts
  • Monitor accounts’ social media activity for mentions about conference attendance
  • Reach out to known contacts and invite them to your booth
  • Set aside personalized gifts or swag for contacts that swing by

20. Host a local event for prospects

Whether you’re organizing a thought leadership session or something as simple as a mix and mingle during happy hour, in-person events are prime places to invite contacts from target accounts. This gets you valuable facetime while also offering the prospect a free resource or experience.

Inviting accounts to events is another one of the ABM tactics that Thomson Reuters used in their journey to achieving a 95% win rate.

Software Solutions for Account-Based Marketing

ABM can be more complex than traditional marketing strategies, but the right tools can help you find the data you need and use it to create customized marketing experiences from start to finish.

LeadBoxer

LeadBoxer is a lead generation solution that can assist your ABM strategy by identifying anonymous or partially identified visitors on your site and automatically populating the rest of their contact information.

LeadBoxer 1

This helps you flesh out your list of target accounts. It also allows you to find and engage with qualified prospects on social media, send them custom content, target them with custom ads, send direct mail or gifts, or invite them to in-person events.

LeadBoxer also gives your prospects a leadscore, which tells you which accounts are most qualified and worth pursuing.

Marketo

Marketo is one of the heavy hitters of the ABM industry. Its products can help you identify ideal target accounts, discover contacts, and engage with accounts across channels with personalized content.

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While certainly a powerful product, Marketo’s solutions come in the hundreds of dollars per month to the thousands of dollars range, making it a serious (or unrealistic) investment for small businesses.

Terminus

Terminus is an ABM solution used by customers like Thomson Reuters, the case study from the previous section who used tactics such as inviting contacts to in-person events and creating content that featured accounts’ expertise.

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Terminus comes with features such as the account breakdown above, which shows how engaged accounts are and how much you’ve spent nurturing each one.

Aberdeen

Aberdeen is a vendor of intent data, so it can help you identify accounts that are expressing interest in topics relevant to your product. This can help you add target accounts to your list that you might not have thought of otherwise.

Aberdeen

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Aberdeen integrates with Salesforce, so team members can immediately see which target accounts are expressing intent. Use this as a cue to start targeting those accounts with custom ads and content as soon as they’re ready for it.

ReachForce

Never worry about old or inaccurate contact data again. ReachForce can help you flesh out a list of contacts within an account, show you who is responsible for what, and continually validates and cleans old data.

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If you’re trying to keep track of and engage with multiple contacts within one account, ReachForce is an invaluable source of information and automation.

LinkedIn Sales Navigator

LinkedIn Sales Navigator is the platform’s solution for helping businesses find, understand, and engage with accounts on the social media channel.

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Not only does Sales Navigator come with advanced search options for finding leads, but it also integrates with your CRM and can notify you of significant shifts within a company, such as job changes.

Instapage

Instapage takes the stress out of making personalized landing pages. Its big draw is a drag-and-drop landing page builder built for collaboration. If you’re a small business cranking out your own personalized advertising and web content, this tool is worth looking into.

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Instapage also has ad mapping solutions, so you’ll never lose track of which ads match which landing pages. Plus, Instapage’s affordable pricing tiers makes personalization accessible to any size business.

Take Advantage of Account-Based Marketing and Grow Your Business

Given the level of research and personalization of content involved, it’s understandable to feel overwhelmed by the idea of ABM. Supplementing your existing inbound marketing strategy with ABM is a process that can take years, but the payoff is well worth it. The first step is to gather together your teams and begin discussing which tactics and tools best suit your company’s needs.

LeadBoxer can help you zero in on the right target accounts, find their contact information, and show you what content they engage with most so you can create better marketing experiences. Start your free trial today.

Cross-Domain Tracking: A Guide to Tracking Visitors Across Multiple Websites

Cross-Domain Tracking: A Guide to Tracking Visitors Across Multiple Websites

If your business operates across multiple domains and you aren’t already taking advantage of cross-domain tracking, then you’re probably missing out on the sort of insights that could turbocharge your marketing and sales. Cross-domain tracking is a tool that’s all but essential for businesses with two or more sites, such as a main website, a cart checkout site, a knowledge base, or a marketing campaign site.

In this guide, you’ll learn what cross-domain tracking is, why it’s important, and what tools are available to help you access it. By the end, you’ll know if cross-domain tracking is right for your business and which tool is best for your needs. With cross-domain tracking in your tool belt, you’ll be able to market more effectively to individual users and earn more sales.

What is Cross-Domain Tracking?

Cross-domain tracking gathers data about two or more sites, in particular, the navigation path from one site to another during a single session.

One Domain Tracking

For businesses with one domain, such as www.example.com, Google Analytics has made it simple and free to install a tag so that you can monitor data like:

  • Pageviews
  • Unique visitors
  • Average session duration
  • Acquisition
  • The flow of traffic between pages

You can even see what specific businesses are viewing a site thanks to Google’s ISP identification.

If your business has a second domain, you can install a separate Analytics tag that will record data for that site. However, the reports for both sites are kept separate.

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Therefore, if a user begins a session on www.example.com and then navigates to www.mysite.com, the data report from www.mysite.com will treat it as a new session instead of a continuation of an activity that began on www.example.com.

Cross-Domain Tracking

If you want to treat a session that begins on www.example.com and ends on www.mysite.com as a single entity instead of two unique sessions, then you’ll want to use cross-domain tracking.

The data for both sites will then be presented as a single report, like so:

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It’s possible to use Google Analytics or other software to enable cross-domain tracking, as you’ll see in a later section. Depending on which tool you use, you’ll either get a bird’s eye view of how the average user engages with your sites, or you can follow the experiences of unique visitors and then get actionable insights that your sales and marketing teams can use.

Why is Cross-Domain Tracking Important?

Cross-domain tracking can have different benefits for multiple divisions in a business, chiefly marketing and sales.

For Marketing Teams

Marketing teams who are looking to improve the buyer’s journey across multiple sites likely need to use cross-domain tracking.

For example, if your business has some form of Lead Generation component or shopping cart checkout housed on a separate domain, cross-domain tracking allows marketing teams to analyze what’s working across multiple domains to help convert visitors to buyers and what needs more refinement.

Here’s an example of how this might look in Google Analytics:

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This User Flow report shows what pages visitors navigate to and from over the course of their sessions. You can see which paths are most common, as well as which pages users are more likely to bounce from. With cross-domain tracking, you can observe this flow across more than one site.

Cross-domain tracking can also make it possible to serve specific content to users across multiple domains based on their previous behavior, especially if you’re using a tool that’s designed to identify unique visitors and respond to their behavior. This kind of targeted marketing can increase conversion rates.

For Sales Teams

Sales teams who prioritize a user’s level of interest when qualifying leads will find cross-domain tracking useful. Cross-domain tracking  provides a more detailed picture of visitors’ engagement with one brand across multiple domains, giving sales teams a better frame of reference for how engaged, qualified and possibly interested a lead is.

Data about a user’s engagement is often used to calculate a lead score, or a number value that describes how promising the user is as a lead. The example below shows a site user with a lead score of 83.

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Tracking engagement across multiple domains is essential for qualification and accuracy. Without cross-domain tracking of user engagement, you might be missing out on leads who are more engaged on one site but not the other.

How Do You Install Cross-Domain Tracking?

There are a few different tools that can enable cross-domain tracking, including Google Analytics and LeadBoxer.

Google Analytics

Setting up a Google Analytics tag for one domain is pretty straightforward. Most people with basic web maintenance skills can figure it out on their own.

Things get more complicated when it comes to cross-domain tracking. If you decide to go with this method, it’s best to bring an experienced engineer into the picture who can install it correctly and maintain it as necessary.

Check out this guide for a complete rundown of how to install cross-domain tracking with Google Analytics. As you’ll see, it’s a fair bit trickier than installing single domain tracking.

Even with this method, you won’t be able to track individual users. Google Analytics can give you a sense of what businesses are using your site and how users on average are engaging with the site, but it’s not designed to get any more granular than that.

LeadBoxer

LeadBoxer is platform for identifying  and tracking individual users and their actions across one or more sites, where it is enriched, segmented and used  to calculate a lead score. This lead score helps sales teams know who they should invest their time and energy toward to nurture that lead into a customer.

Marketing teams can also benefit from LeadBoxer. They can get under the hood of individual users and see what content they’re engaging with across one or multiple sites, then target them with content that’s reflective of their previous behavior.

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In short, the big difference between Google Analytics and LeadBoxer is the ability to zoom in on a single user and take action based on their behavior. LeadBoxer also makes it possible to identify visitors who would otherwise remain completely anonymous, so you can reach out and make contact with these users in the event of B2B sales.

Cross-domain tracking is a standard feature included in LeadBoxer and can be enabled for you without doing any additional work.

To get started, schedule a call with LeadBoxer and ask for a trial with cross-domain tracking.

Installation is easy, simply install the same pixel in all your domains and we will take care of connecting the users/sessions without the use of 3rd party cookies!

All in all, LeadBoxer is a painless way to get cross-domain tracking at your fingertips. For more information about how to install cross-domain tracking with LeadBoxer, click here.

 

Opentracker

Opentracker offers a blend of Google Analytics and LeadBoxer features. Its primary purpose is to track unique visitors in realtime. Cross-domain tracking comes standard with this tool and is easy and intuitive to access.

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Unlike LeadBoxer, Opentracker doesn’t calculate a lead score or provide actionable insights about prospects to sales teams. It can identify a visitor’s company, but it doesn’t capture name and contact information the way LeadBoxer can.

Turn Visitors Into Buyers With Cross-Domain Tracking

If you have multiple related websites that users are likely navigating between during the same session, then cross-domain tracking is essential for capturing a complete picture of visitors’ online experiences. Cross-domain tracking is possible with Google Analytics but installation can be tedious and prone to mistakes. Analytics also doesn’t allow you to identify unique visitors.

If you want the ability to give visitors a face and a name, gauge their potential as a lead, and notify your sales team about when they should reach out and turn that lead into a customer, then LeadBoxer is a more appropriate tool. Best of all, installing cross-domain tracking with LeadBoxer is so easy that anyone with basic web maintenance experience can install it.

Sign up for a demo call of LeadBoxer today and try out cross-domain tracking in minutes.

Looking for more qualified leads?

We offer Lead Identification and Lead intelligence through website & email tracking 

What is Intent Data & How Can You Use It?

What is Intent Data & How Can You Use It?

According to research, the average B2B buyer is already 67% of the way through the buying journey before having extended contact with a salesperson. By that time, they’ve likely formulated some ideas about possible solutions to their pain point and might even be leaning toward buying from your competitor. Intent data is the key to identifying those leads sooner, nurturing them earlier in their buying journey, and making more sales. This comprehensive guide will outline the fundamentals of intent data, including:

By the end, you should know exactly how intent data fits into your marketing and sales processes. You’ll also learn how to pick the right intent data supplier for your needs, so you don’t end up with the wrong strategy for your business.

What is Intent Data?

Intent data shows the likelihood that a person or company is in the market to purchase a solution for a pain point. It’s derived from information about the online research a contact or account is conducting about a particular topic, as well as context clues that might signal their purchasing intention. Topic and context data are the two main types of intent data. Both rely on tracking cookies and IP addresses to form a complete picture.

Topic Data

If a hiker needs to buy new hiking boots, she may scout online reviews of top brands before she ever goes to the store and tries on a pair. Anyone looking at her search history might assume she’s interested in the topic of “hiking boots”. The same is true of B2B leads and target accounts. Forrester claims that 68% of B2B buyers research by themselves, a significant increase from 53% in 2015. In addition, 47% of buyers viewed 3-5 pieces of content before connecting with someone in sales. Even before signing up for a free trial of the software that might solve their problem, your lead is probably researching their pain point and weighing multiple options. Topic data tells you what they’re researching. There are four types of topic data available.

Anonymous First-Party Behavioral

These are unknown visitors to your company’s site and the actions they take while there. They haven’t yet filled out a form or explicitly revealed information about themselves, but it’s possible to identify their company by tracking their IP address. unknown visitors A lead generation tool like LeadBoxer can help fill in the gaps and show more contact information about these otherwise anonymous visitors, giving a more complete picture of who they are and what they’re researching on your site.

Known First-Party Behavioral

These visitors to your company’s site have provided their contact information by filling out a form, therefore they are “known” individuals. Lead generation or marketing automation software can track what pages they visit and other ways they engage with the site.

Anonymous Third-Party Behavioral

These are unknown visitors to sites you don’t own but that might still be relevant to your business. You can track different topics over a network of sites and see what’s most popular. aberdeen intent data
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If you’re a supplier of project management solutions, and someone from a company that fits your ideal customer profile is reading articles about “project management” on Business Insider, you can access that information through intent data suppliers, a few of which we’ll review in a future section.

Known Third-Party Behavioral

These are visitors to sites you don’t own that have shared some of their contact information. Like with anonymous third-party behavioral, you can access their information and the topics they’re researching through the right supplier.

Context Data

Context data tells you whose intent data is valuable and who only has a passing interest in a topic. There are a few details that are especially useful for establishing context.

Job Title

If a sales professional is researching “sales pipeline management”, it’s possible they’re looking for a CRM tool that can help manage leads. If a marketing professional or content creator is researching the same topic, it may be more likely that they’re putting together a blog, video, or another piece of content on the subject.

Job Postings or Leadership Changes

Job postings and leadership changes can tell you whether or not to reach out to a lead. If you sell advertising services but the target account is in the process of looking for a new marketing director, now might not be the best time to approach them. If the account has announced the recent hire of a marketing director, it’s a better opportunity to pounce and offer a better option than what the predecessor left behind.

New Funding

A new round of funding is another indicator that a company could be open to new solutions, both because they have a bigger budget and because they may be growing their operation and need more sophisticated tools to manage their company.

New Legislation

Did new legislation just pass that requires an account to operate their company in a certain way, or opens them up to new business? If you have the solution they need in response to these changes, this context lets you know if you should act.

Press

Keep a close eye on accounts that make the news. Press about an expansion of operations or increase in earnings might indicate that they need new solutions, while bad press may mean that they need some space to do damage control before focusing on other things. However, not all bad press is a sign to stay away. If an account makes the news for poor customer service, maybe now is the time to reach out and offer information about your CRM software.

What to Use Intent Data For

There are several uses for intent data, but before diving into the specifics, know that if your competitor isn’t already using intent data, they might soon. Polls show that nearly a quarter of B2B companies are already using intent data, while another 35% plan to use it within the next 12 months. Using intent data in some capacity will become increasingly necessary to stay competitive. These are the main ways that it can benefit your business.

Reaching Leads Early

The most obvious use of intent data is to establish contact with leads earlier in the buying journey. Getting in touch with leads before other salespeople do is one of the biggest ways to get a leg up on the competition; research shows that in 70% of cases, the first salesperson to connect with a lead is ultimately who they give their business to.

Lead Prioritization

Context data can help make a distinction between who is actively researching a pain point and who is just reading about a certain topic without any intention of making a purchase. This information illuminates whether or not a lead fits your ideal customer profile. prioritize leads A tool like LeadBoxer quickly shows you the highest priority leads by allowing you to search by filters such as location, industry, and company size.

Automated Outreach

First-party leads that give off certain signals can trigger automatic marketing or sales processes, such as an email series, that can instantly start nurturing them when it matters most.

Account-Based Marketing

Hone in on what content works best at engaging first-party leads, and what needs more refining.

Personalization of Outreach

By knowing what topics and articles leads are researching, sales agents can personalize how they make contact and develop a relationship with them. They can mention specific topics and establish relevance quickly to capture and hold a lead’s attention.

Targeted Advertising

Get even more granular with your advertising strategy by honing in on leads who give off certain signals. That way, you’re not wasting any of your advertising dollars on people who only have a passing interest but have no intention of buying your product.

Targeted Account List

Develop a list of accounts who are engaging with third-party sites about relevant topics but aren’t yet engaging with your company. You’ll be able to connect with leads who your sales team might have otherwise never considered.

Analyze and Retain Customers

Intent data works with existing customers, too. Monitoring what current clients are researching so you know if they’re thinking about switching to a competitor or if there’s something you can upsell them on. With intent data in your toolbox, you can continue to anticipate and solve problems long after the initial purchase has been made.

How to Obtain Intent Data

There are several intent data vendors out there who can help you access intent data on your site or data available on third-party sites.

 

First-Party Intent Data Vendors

First-party intent data is nothing new. You may already have access to some thanks to free tools such as Google Analytics. Other vendors can provide you more details about who is visiting your site and turn anonymous visitors into known visitors.

 

Google Analytics

Google Analytics is a free tool that monitors the activity on a site, such as page views and how visitors arrived at the site. While it can’t identify individuals, it can hone in on IP addresses and show you what accounts are active on the site. google site visitors
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In the example above, several businesses use branded aliases, making it possible to identify which accounts are visiting a site. However, Google Analytics can’t provide any further context than that. It also can’t go into detail about what the visitors’ unique actions were on the site.

 

LeadBoxer

LeadBoxer catalogs all known visitors to your website. If a visitor fills out a form, the information they provide automatically populates their profile within the software. LeadBoxer can then calculate a lead score for that person using other data points such as what pages they visited, what topics they seem most interested in, and how engaged they are with the site. leadboxer 360 view Source With this information, you’ll know exactly when to act on a lead. LeadBoxer takes it one step further and can help identify previously unknown visitors. For example, if the visitor didn’t fill out a form but arrived at the site via LinkedIn, LeadBoxer can trace back to that person’s LinkedIn profile and use the information to populate the visitor’s information within the software.

 

BounceX

Like LeadBoxer, BounceX can identify many website visitors (40-70%) who would otherwise remain anonymous. It then creates personalized marketing experiences – similar to account-based marketing – for these visitors based on their engagement. Screen Shot 2019 08 17 at 7.54.31 AM
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BounceX can automatically engage with visitors who have not yet filled out a form or appear that they’re about to leave the site. In a way, it identifies users who are displaying intent and then begins to nurture them before a sales agent ever steps in. While sophisticated, BounceX is said to have nearly a $4,000/month price tag, making it a serious investment for most businesses. It also doesn’t prioritize showing you accounts who express high intent but instead tries to let the AI nurture users through website personalization.

 

Third-Party Intent Data Vendors

If an account is researching topics around the web that are relevant to your product or service, these solutions will help you find them.

 

Bombora

Bombora can tell you what companies are expressing active intent to purchase your products or services long before someone from that company ever lands on your site. Bombora does this by monitoring 6,000 intent topics across 3,800+ publisher websites. bombora
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Bombora only tracks IP addresses, cookie IDs, and company domains provided by the publishers’ registration data. They can tell you what companies are expressing intent, but they can’t tell you exactly which employee is doing the research or who your sales team should engage with. In short, there’s no context data with this vendor.

 

Aberdeen

Aberdeen bought The Big Willow, and intent data supplier, back in 2018. They offer a lot of the same value that Bombora does but take it a step further by integrating their solutions into Salesforce. aberdeen intent for salesforce 1024x682
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Companies expressing active intent pop up in the Salesforce dashboard so sales teams know exactly which accounts to jump on. You can also see how those accounts will impact the pipeline. You can also choose to integrate Aberdeen Marketscape, a product that shows all the topic keywords researched by each account showing intent. This helps establish more context. If you’re not already using Salesforce, getting started with Aberdeen’s intent data (and then Marketscape) might be a little too complicated and cost-prohibitive.

 

How to Select an Intent Data Vendor

There are several different suppliers of intent data out there. It’s important to work with the one that best fits the needs and size of your company, or else you risk losing time and money. Here are a few considerations to keep at the top of mind when screening vendors.

 

How many sites are in the vendor’s network?

Ask this question if you’re considering third-party data vendors. The network refers to the websites they monitor, which tend to be publisher sites like Forbes. The larger the network, the better, as this gives them a bigger pool of data to draw from.

 

How many topics does the vendor monitor?

Third-party data vendors monitor a finite amount of topics. At the time of this writing, Bombora claims to have nearly 6,000 topics in their system, while Aberdeen claims to have hundreds of thousands of keywords at their disposal.

 

Can the vendor give context?

On its own, a list of names and topics they’re researching isn’t very useful. You need context to know if their company fits your ideal customer profile, as well as what their job title is and if they have any purchasing authority. Third-party data vendors can’t give much context at this time, but some solutions for first-party intent data can.

How to Use Intent Data

Trying to make use of intent data in its raw form is inefficient. Intent data works best when used to calculate a lead score. A lead score is a concise, visual way to describe how promising the lead is and therefore how much it’s worth pursuing them. Some solutions, like LeadBoxer, will not only capture intent data but will automatically input it into a lead score. You can adjust what data points to use for calculating a lead score based on the needs of your company. set lead score 900 Source Here are three of the most important factors to keep in mind when adjusting what data points to use for a lead score.

 

Fit

This is as simple as asking the question: does this lead fit our ideal customer profile? Are they the right size company, in a certain location, etc.? If an account showing active intent doesn’t fit the mold of your ideal customer, then their lead score will go down.

 

Intent

Take into consideration not only the topics researched by that account but the frequency and recency of the research.

 

Engagement

Has this account not only engaged with relevant third-party pages, but with your site or social media profiles? A solid first-party data vendor will be able to track and show you individual actions. Use that information to increase their lead score. track actions The more specific the data points used to calculate a lead score, the more accurate and useful the lead score will be. This will help weed out accounts that aren’t the right fit or are researching topics without having any intent to buy a product or service.

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While it’s certainly useful to know which accounts have an interest, you’re still limited by not knowing who to reach out to.

 

When Used At the Expense of a Sustainable Sales Pipeline

Relying on intent data is no reason not to have robust marketing strategies that help draw new leads into your sales pipeline. Like most sales tactics, it’s best used in tandem with other processes.

 

Get an Edge Over the Competition With Intent Data

Intent data is a hot technology that more and more businesses are using to gain an edge over their competitors. By seeing what topics leads are researching, you can reach out to them sooner and have a better chance at closing the deal. While it’s not the end-all, be-all way to keep your sales pipeline full, it is a valuable tool to have at hand. Third-party intent data still isn’t as precise as some would hope it to be. Vendors can only provide accounts, not individual contacts, and don’t offer much in the way of context data. Third-party data also decays more quickly than first-party data. Some first-party data is free and already at your fingertips via Google Analytics. A tool like LeadBoxer can keep you apprised of who exactly is visiting your site whether or not they’ve filled out a form. It’s also easy to get context data and use each data point to calculate a lead score, showing you exactly which leads to act upon at that moment. If you haven’t already started taking advantage of the intent data laying untapped on your site, now is a great time to start. Try a free trial of LeadBoxer today.

 

 

When Intent Data Isn’t Enough

Intent data isn’t a magic bullet for identifying leads earlier. There are limitations to this technology that will hopefully improve as time goes on. Be aware of the following when incorporating intent data into your marketing and sales processes.

 

When a Visitor is Registered Under the Wrong IP Address

If an unknown visitor to your site or a third-party site is registered under the wrong IP address, you won’t be able to tell what company they work for. This often happens by accident but nevertheless makes it impossible to identify the correct account.

 

When a Buyer is Conducting Research Out-of-Network

Third-party intent data vendors like Bombora and Aberdeen don’t aggregate data from every corner of the internet. They only draw information from sites within their networks. If a buyer is researching on sites not covered by that network, then you’ll never know.

 

Decay Rate of Third-Party Data

Given the amount of content people consume regularly, you shouldn’t expect sales agents to always be able to reach out to a lead and reference content they read a week or two earlier.

 

Third-Party Data Lists Account But No Contacts

Bombora and Aberdeen only list the account, not the contact information of the individual who was searching. bombora surge report
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While it’s certainly useful to know which accounts have an interest, you’re still limited by not knowing who to reach out to.

 

When Used At the Expense of a Sustainable Sales Pipeline

Relying on intent data is no reason not to have robust marketing strategies that help draw new leads into your sales pipeline. Like most sales tactics, it’s best used in tandem with other processes.

 

Get an Edge Over the Competition With Intent Data

Intent data is a hot technology that more and more businesses are using to gain an edge over their competitors. By seeing what topics leads are researching, you can reach out to them sooner and have a better chance at closing the deal. While it’s not the end-all, be-all way to keep your sales pipeline full, it is a valuable tool to have at hand. Third-party intent data still isn’t as precise as some would hope it to be. Vendors can only provide accounts, not individual contacts, and don’t offer much in the way of context data. Third-party data also decays more quickly than first-party data. Some first-party data is free and already at your fingertips via Google Analytics. A tool like LeadBoxer can keep you apprised of who exactly is visiting your site whether or not they’ve filled out a form. It’s also easy to get context data and use each data point to calculate a lead score, showing you exactly which leads to act upon at that moment. If you haven’t already started taking advantage of the intent data laying untapped on your site, now is a great time to start. Try a free trial of LeadBoxer today.

Looking for more qualified leads?

We offer Lead Identification and Lead intelligence through website & email tracking 

10 Buying Signals You Should Look For

10 Buying Signals You Should Look For

Imagine if some magic words or signs indicated how likely a prospective customer is to buy. Your sales and marketing teams would know exactly who to focus their efforts on. As it happens, there are such signs. They’re called buying signals, and taking note of them is key to giving prospects a better buying experience and increasing the efficiency of your sales process.

This guide will review ten of the most common buying signals to look for and how to look for them. It will also go over how to capture, analyze, and act upon those signals. With this information in hand, your team will be well on its way to gaining and retaining plenty of satisfied customers.

What are buying signals?

Buying signals are the actions prospective buyers take that may indicate they’re close to making a purchasing decision. For B2B sales and marketing teams, buying signals are especially important because they can help you hone in on the most promising leads, saving time and closing more deals.

Buying signals can occur at several different steps of the buyer’s journey. Some signals occur when a prospect visits a company’s website. Lead generation software such as LeadBoxer can capture this data and consolidate it into a lead score. A lead score is a way to easily visualize buying signals.

Lead Score

Other buying signals occur during conversations between the prospect and a sales agent. These are usually phrases or behavioral cues that show how interested the prospect is. Recognizing these signals requires training and keen attention to detail.

The following ten signals occur during both digital and physical encounters between a company and prospective clients.

1. The prospect signed up for a free trial

Signing up for a free trial or other complementary offering is a clear indication that a prospect has some interest in the product.

buying signals signup

Lead generation software can capture this action and use it as part of the data that generates a lead score.

Even if the prospect doesn’t immediately take advantage of the trial, that doesn’t necessarily mean they’re no longer interested. It may show that they’re simply unsure how to use it. To mitigate that risk, consider enrolling anyone who signs up for a trial into an automatic email series that provides tutorials or tips.

You can also offer free one-on-one meetings or phone calls with a customer service representative who can walk them through the trial. A more personalized experience can help move some prospects further along on the buyer’s journey.

2. They filled out a form

If someone filled out any form, whether it was to sign up for an e-newsletter or a request for more information, it’s a sign that they want to know more about the company.

form leads

LeadBoxer captures that data and uses it to populate a prospect’s profile. The software will then log future actions the prospect takes on the site and use it to adjust their lead score.

Even if a prospect doesn’t fill out a form, LeadBoxer can track and identify previously unknown website visitors.

3. They’re engaging with your brand on social media

Following your company’s social media profile and engaging with the content you publish strongly suggests that the prospect is interested in your product.

To identify who is engaging with the brand most often, encourage marketing team members to monitor mentions of the brand or associated hashtags.

buying signals twitter

Regular check-ins between the marketing and sales team are important for identifying the prospects who are active on social media. With that information, sales agents can know who might be most worth reaching out to or nurturing.

Another option is to integrate your lead generation software with social media sites like LinkedIn so you can capture a prospect’s actions on the platform. LinkedIn is an especially fruitful platform for identifying and cultivating B2B leads.

4. They’re interested in one product

Interest in a single product or solution shows that prospective clients are clear about what they want. They’ve done their research and are taking steps toward making a purchasing decision.

This signal might appear during a consultation between a sales agent and a prospect, but it could also occur on your brand’s website. Multiple visits to a product page, especially over a short timespan, indicate growing interest.

leadboxer tracking

Calibrate your lead generation software to look for these actions and use the data when calculating a lead score.

5. They’re interested in the price

If a prospect asks about pricing during a sales call, it’s generally a sign that they’re at least thinking about buying.

Some sales agents might misconstrue questions about money as a pricing objection, or that the prospect finds the cost prohibitive. Instead, think of it as they’re trying to understand how this solution fits into their budget. Use their question as an opportunity to talk about why your company is the right fit for them with respect to the price.

buying signals pricing

Another way to know if a prospect is interested in the price is to check if or how often they’ve visited the pricing page. This information should be available within the lead generation software in the log of actions they’ve taken on the site.

6. They’re interested in case studies

Pay attention to prospects who are looking at case studies on your site or are asking about other customers’ success stories. These potential clients are trying to imagine how they fit into your business and if you have a track record of solving problems that are similar to theirs.

buying signals use cases

To keep the conversation moving, sales agents could follow up with other case studies that are similar to the prospect’s experience or ask if they have any questions or concerns about the company’s previous work.

7. They ask for advice from their peers

Sometimes you’ll notice that more than one person from a company is visiting the site. This might be an indication that someone with purchasing authority has asked his or her peers for their input about the product.

This might also be true when someone copies their colleagues during email correspondences with a sales agent. If they’re cluing other people into the conversation, it’s a good sign that they’re discussing amongst themselves how the product fits with their needs.

In any case, if the main contact is seeking the opinions of people they work with, it’s likely that they’re weighing the pros and cons and are close to making a final decision.

8. They ask about terms and conditions

When a prospect starts asking about warranty details or money-back guarantee policies, they’re likely feeling out whether or not they can trust you to deliver excellent customer service.

Look for this signal during meetings or calls with sales agents. If there is a warranty page on your company’s website, check to see if the prospect has visited it. If they have, it’s a prime opportunity for an agent to reach out to them and see if they have any questions about moving forward.

9. They ask about contract specifics

This buying signal will likely happen during an in-person meeting or phone call. Prospects who are asking sales agents about what needs to happen to move on to the next step are almost ready to pull the trigger on the purchase.

For example, they might want to know when the service or use of the product can begin. Show that your company can adjust to their expectations by asking how soon they need it by.

This is also a great time to ask if they have any other questions or considerations about moving forward. Any opportunity you can take to demonstrate outstanding customer service is another reason why the prospect should go with your company.

10. They ask about methods of payment

Sales agents should be attuned to questions about when or how payment can be made. Prospects who ask about this topic are close to making a purchasing decision but need to make sure that payment options align with their company’s needs.

In this case, the more convenient options you can provide, the better. Automatic payments, payment plans, and accepting credit cards are just a few of the possibilities to make customers’ lives a little easier. The more convenience you can provide, the more likely that they’ll keep buying from you.

Pay attention to buying signals and close more deals

Knowing when a prospect is ready to buy doesn’t take a crystal ball or a sixth sense. The clues are all there in the buying signals they give off. Good old fashioned attention to detail as well as a mix of data gathered and interpreted by lead generation software makes it possible to take note of and act upon these signals.

LeadBoxer is a lead generation software that makes much of this process easy and automated. It can also deliver alerts that let you know when it’s time to take action and make a pitch to a prospect. Get started with a free trial today.

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