Rethinking 3rd Party Intent Data: A New Perspective

The Challenge with 3rd Party Intent Data

I'm not sure that 3rd party intent data and the various AI/ML driven ABM platforms and data sources that currently make a decent living from it are worth the effort and investment. It all looks great on paper, but my experience thus far has been:

1. Sales don't trust it.

2. It is eye-wateringly expensive.

3. It adds very little incremental value over the 1st party intent data we have at our fingertips nowadays.

   
   

To put it another way, actual engagement—anonymous or otherwise—with our web properties and our marketing campaigns is where the really valuable intent is. Harvesting that value is bundled (often "for free") with everything from chatbots to marketing automation platforms to lead routing solutions and more.

The Shift in Buyer Behavior

I've enjoyed having this admittedly polarizing debate. It makes for lively banter. However, this point of view has suddenly become very problematic indeed. Why? Because website traffic volumes are crashing due to AI. There is no first-party data to harvest!

More accurately, there is some, but it's increasingly later buying stage due diligence-ish traffic and not early-stage research. Sure, that traffic will convert at a decent clip, but we have missed or lost the ability to influence the early-stage buyer.

It's the 2.0 version of "the MQL is dead" conversation. Some of us passionately argued that if you wait for a person to MQL, you've missed the vast majority of the buyers. Now it's "website traffic is dead… if you wait for a person to visit your website, you've missed the vast majority of the buyers."

What Can We Do About It?

So… what to do? I make a living helping B2B software companies decide what to do, but this one is evolving fast. So I don’t mind admitting, it would be good to get the opinion of my esteemed network.

Embrace First-Party Data

First-party data is where the real gold lies. It’s the information you gather directly from your audience. This data is often richer and more reliable than third-party sources. By focusing on your own data, you can gain insights into your customers' behaviors and preferences. This allows for more tailored marketing strategies that resonate with your audience.

Invest in Engagement Strategies

Instead of relying solely on third-party intent data, consider investing in strategies that foster engagement. This could include interactive content, webinars, or personalized email campaigns. By creating meaningful interactions, you can build relationships and trust with potential buyers.

Leverage Technology Wisely

While AI and machine learning can provide valuable insights, they should complement, not replace, your existing strategies. Use these technologies to enhance your understanding of customer behavior, but don’t forget the importance of human touch in your marketing efforts.

Collaborate and Share Insights

Don’t hesitate to reach out to your network for insights. Collaboration can lead to innovative solutions that you might not have considered. Sharing experiences and strategies can help everyone navigate this evolving landscape more effectively.

Monitor Trends and Adapt

The marketing landscape is constantly changing. Stay informed about new trends and technologies that could impact your strategies. Being adaptable will allow you to pivot quickly and take advantage of new opportunities as they arise.

Conclusion: A Call to Action

In conclusion, while the debate around 3rd party intent data continues, it’s clear that we need to rethink our approach. By focusing on first-party data, engaging with our audience, leveraging technology wisely, collaborating with peers, and staying adaptable, we can navigate these challenges effectively.

Let’s keep the conversation going. What are your thoughts on this evolving landscape? I’d love to hear your insights!