A data strategy encompasses the full process of how you collect, manage and use your data. Having a strategy in place means you know how you’ll handle your data from […]Read More →
Posted October 20, 2021
Posted October 20, 2021
How do you define B2B buying groups and the role they play in your company’s growth and success? Nowadays, buyers almost always prefer to purchase in groups rather than as individuals. Hence, the term “B2B buying groups” was born. The idea behind buying groups is to identify a set of personas involved in making a purchase decision, and this approach has revolutionized the B2B demand generation landscape. If you’re ready to learn how to best identify B2B buying groups with intent data, stick around so you can apply some methods in your business. To this day, innumerable B2B organizations receive help from research firms like The Forrester B2B Revenue Waterfall™ to ramp up lead generation and chalk out revenue strategies.
Buying groups are important in a variety of ways, but the first step is to understand what they are and their purpose. Nowadays, more than one buyer is involved in making a B2B purchase decision. Identifying and engaging the groups who participate in the buying process and impact the purchase decision are known as buying groups. Their role is critical when trying to boost conversions through the funnel.
In addition, the key personas within buying groups have different roles, and they’re influential at various stages of the funnel. For example, if you’re buying a technology solution for your firm, you should consult and discuss this with various departments and team members before investing in it. You can’t make this type of decision on your own. Instead, it’s essential to gain confirmation from all team members (personas) who might be affected by this decision.
Now, let’s dig into the ways in which intent data helps marketers identify B2B buying groups.
Did you know that according to Gartner, your target buyers spend 50% of their time doing independent research from third-party resources? What may come as a surprise is that buyers spend more time doing research than communicating with sales reps. To effectively reach and engage modern and empowered B2B buyers, marketers need to gather deep insights about their target audience segments. In the past, marketers had to wait for the buyer to complete a set of actions in order to understand the prospect’s interest. However, currently, with the help of buyer intent data signals, marketers can track prospect movement and prioritize outreach.
Now, how can you successfully identify buying groups with intent data?