Let’s focus on First-Party and Third Party intent data, given the hype and usage explosion across the last 18m.
Intent data relies on tracking engagement of some kind - either on your owned digital assets or somewhere else, and then converting this into an indicator of that company demonstrating “intent” towards a topic.
How intent data work today
Employee at SolarBrite Technology clicks on an article comparing different HR software
SolarBrite Technology shows up on intent platform as demonstrating intent that they are in the market for different HR software (If more employees were clicking on that article, or articles of a similar topic, SolarBrite would should up with a higher intent score)
BluePeak (a HR software) will reach out to SolarBrite - with the assumption that they want to buy new HR software
The problem here
BluePeak have no idea whatsoever if SolarBrite are relevant for them.
In fact, BluePeak are a HR company which is moving up-market (more enterprise), and works especially well in use Medical use cases. And SolarBrite is a solar panel startup.
Now without this knowledge, the team at BluePeak have purchased data from the intent data provider and told their sales and marketing teams that SolarBrite has to be on their target list. Which means that the sales and marketing teams end up wasting time, energy and money chasing a business that is nowhere near their ICP.
Now imagine this, but at scale. We worked with 2 customers who found that on average 80% of the companies that demonstrated intent, were not relevant for them.
The new workflow
The missing golden nugget for intent data platforms is qualification.
Give me an interface that:
Shows me which companies are showing intent
Qualify them automatically, using MY specific criteria
What this means?
As a buyer of intent data, I will now have access to the best possible list of companies that I want my sales and marketing teams to focus on.
They have clearly shown that they are in the market for what I offer AND I know through qualification that they are qualified for me, meaning it is definitely worth my time to reach out to them.
Aside from unreal sales and marketing efficiency gains, a significantly improved CAC and ROAS and less wasted time - a way better experience for sellers.
Sales and marketing teams are no longer wasting time, energy and effort trying to attract companies who are not in market.
When is it coming?
Noki is already working with the leading Intent data platforms to bring this capability to them.