- August 6, 2018
- Purchase Intent
5 Ways to Get More Value from Your Purchase Intent Tool
This week, TechTarget hosted a virtual Priority Engine user group. In this event, more than 20 customers discussed how they are using Priority Engine, TechTarget’s SaaS-based purchase intent insight platform. During this discussion, we explored their challenges, successes, and use cases they apply the data to.
Here are 5 simple tricks uncovered from this direct insight from marketing and sales teams to get the most value out of purchase intent data.
Tip 1: Accelerate Open Opportunities
During this user group, we discussed how several customers are using the tool to accelerate the deals in their pipeline. To execute on this, they simply pull an open opportunity report from their CRM tool, and then they load those account names into Priority Engine as a named account list. With this, they can get access to the intent data and additional contacts from those opportunities. This gives both marketing and sales the ability to better surround the accounts they see opportunities with, and close deals faster!
Tip 2: Cross-sell/upsell customers
Many marketing orgs are highly focused on net-new. While it is no doubt important to uncover new demand within your market, focusing only on “net-new” often leaves a lot of opportunity on the table. It would be naive to think that any sales rep or account manager can know everything about any single account. With Priority Engine, if you load your customer list as a named account, you then have the ability to identify WHEN these accounts are prime for upselling/cross-selling or even to run a simple churn mitigation program. The added bonus is that you might still get net-new contacts to message at the customer level. As one customer said during this conversation in the user group “the real value is in the signals.”
Tip 3: Reactivate lost/dormant accounts
Another interesting concept we uncovered during this discussion was that of reactivating dormant accounts. As marketers, most of us have a database with a large percentage of non-responsive contacts. Either contacts have stalled out in the sales funnel, or accounts/contacts never engaged beyond their first touch. A simple way to identify when to re-market and reactivate these contacts/accounts is to load this database segment as another named account list. The results of this list in Priority Engine can give you the insight to know when to message these accounts and, more importantly, what to message them about. The alignment of timing and messaging will give you what you need to deliver strong response rates.
Tip 4: Better enable alliance/joint solution messaging
One smart tip uncovered during this discussion was to utilize Priority Engine to help identify prospects that would be more reactive to your partner or joint solution messaging. One customer noted that these types of deals are often tied to bigger deal sizes. Using the segmentation capabilities in the tool will allow you to identify these opportunities. Tactically, you can segment by people that are engaging with partner/joint solution vendors, or you could segment based on those that have a specific partner/joint solution installed already.
Tip 5: Expand globally
One of the final things we uncovered in our discussion was that the strong success seen in North America can easily be extended to other regions of the world. One customer identified that they had already extended the program in ANZ, and would soon be expanding into EMEA. To expand your success internationally and support your regional field offices, simply replicate your program to other regions in Priority Engine.
The above simple tips are a great way to get the most out of your purchase intent insight tool and understand the number of different marketing and sales use cases you can apply it to.
If you would like to learn more or attend an upcoming user group, please reach out to me today.