State of Intent Data Study 2023 / 2024. Key Takeaways
There's a lot of discussion about what intent data is and why it is important but not much practical insight into how to read it and apply it in your day-to-day work. This is why N.Rich jointly with Driving Demand decided to explore the topic and collect the insights from the industry colleagues.
The Study covers the following:
▪︎ Top intent data use cases
▪︎ Efficiency metrics to understand the impact of intent data
▪︎ Insights into the buying process of intent data tools
▪︎ Concerns regarding the use of intent data
Some of the key findings include:
1. Intent data is on the rise.
59.6% of respondents are using intent data already and planning to expand further.
2. Marketers are the main users and budget holders for the intent data tech stack.
93% of respondents say Marketing is one of the users of intent data in their organization.
3. Lead and account prioritization is the main use case for intent data.
69% of respondents are using or planning to use intent data for this use case specifically.
4. Main metrics to quantify the business impact of intent data are Conversion rate, Influenced pipeline / opportunities and ROI / ROAS.
5. Main concerns regarding intent data include its sometimes low quality, excessive cost, and the ROI / ROAS.
“As an intent data provider, we strive to educate and help our customers to get the most value out of it. We also aim to make third party intent data easily and inexpensively available for anybody. In the end, intent data is bound to have a crucial role in helping companies prioritise and personalise their GTM and make the buyer journey more engaging.
It’s not a quick fix or a silver bullet, though, which is why I encourage approaching intent data as a long-term strategic process rather than a short-term tactical project. Hopefully this Study will provide you with more practical insights into the world of intent data.”
- Markus Ståhlberg CEO and Co-founder, N.Rich & IntentHub
On September 28, 2023 N.Rich x Driving Demand also hosted an online presentation of the results of our Study. Yulia Olennikova, Head of Marketing at N.Rich & IntentHub, and Adam Holmgren, Global Demand Generation Strategy Lead at GetAccept & Founder at Driving Demand, discussed how to use and NOT to use intent data in 2023 / 2024.