No matter what your role is in the dental industry, using the right data can make all the difference in the success of your day-to-day processes. Data informs critical decision-making, from marketing strategy and sales goals to customer interactions. Regardless of your specific goals, making smart use of your data can grow the sales pipeline, provide more valuable marketing insights and streamline business processes.
According to a study from Harvard Business Review there was an 18% difference in revenue growth between companies that defined a formal sales process and those companies that didn’t. Utilizing intent data is one way that dental suppliers can enhance sales and marketing processes, by more effectively using targeting information to increase ROI and gain valuable insight into provider behavior.
Intent data or “buyer intent data” is a set of behavioral signals that can give clues as to the prospect’s intention to buy. In marketing terms, the more content that a prospect consumes around a given topic or solution, the greater their interest is in purchasing that solution or becoming a customer.
Sales and marketing teams are hungry to source intent data because it’s the key to unlocking the “Interest” and “Consideration” stages of the traditional sales and marketing funnel. Why? Because prospects typically spend more time in these two stages where they’re doing more research and looking at competitors. With the right intent data, sales teams can use the information to create a specific profile of a potential client and refine their approach to targeting them accordingly — and more successfully. But not all intent data is equally valuable.
While all three types of intent data can be valuable on their own, dental suppliers will find that combining their own first-party intent data with third-party data from a trusted partner can be incredibly valuable in creating a complete picture of their target market. Yet even within third-party data there is variability in the depth and quality of data to point towards intent-to-buy. Purchased mailing lists provide you some information about an audience that may seem to be potential customers, but how do you know, really?
Unlike purchasing a mailing list scraped from the internet, true, deep intent data allows dental supply organizations to integrate not only demographic data but practicing behavior as well. For example, this intent data can reveal things like:
Making smart use of third-party intent data and combining it with your own first-party data gives your sales and marketing teams the tools necessary to strengthen their outreach efforts, tailoring their conversations not only to specific providers, but also to specific behaviors and action points. In fact, Gartner reports that organizations using third-party intent data are 2.9x as likely to have a conversion rate of 10% or higher.
Deep intent data on dental provider practicing behavior can enable growth by providing actionable information to fuel sales and marketing outreach to new potential high-value customers who are likely to purchase your products. Practice-level profiling can even up your engagement with existing customers, providing insights to build even stronger relationships.
Nobody can deliver truly deep, practice- and provider-level intent data like DentalMarketIQ. As the number one dental data optimization partner, we can give you the insights you need into provider practicing behavior, offering you ways to increase ROI, create growth and enable a smoother sales process.