10 Updates

Finally, A Credible Way To Decipher Customer Intent

Apr 30 2014, 7:11pm CDT | by

Customer intent is such a loaded phrase.   Figuring out your prospects’ intentions or the purpose of their actions is like finding a flashlight in a mine.   If you have it, you can quickly figure...

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12 weeks ago

Finally, A Credible Way To Decipher Customer Intent

Apr 30 2014, 7:11pm CDT | by

Customer intent is such a loaded phrase.   Figuring out your prospects’ intentions or the purpose of their actions is like finding a flashlight in a mine.   If you have it, you can quickly figure out what your next step should be.  Without it you’ll keep stumbling along in the dark.

It used to be that figuring out customer intent was pretty easy; they told you.  Sales and Marketing were looked upon as sources of knowledge and guidance, so buyers gladly shared their challenges and intentions.  Today, buyers turn to their peers and the Internet for insight, advice and education.   There’s no motivation to share intent with vendors because there is no value to be gained, in the eyes of the buyer.   Buyers will reveal their intent when they’ve decided you’re a contender in the purchase decision.

We all know that waiting for the phone to ring is not a viable growth strategy.   Marketing’s charter is to build early awareness and brand preference. The big hammer is content, in every imaginable form possible.    But the challenge of deciphering intent remains.  Without understanding intent, it is very hard to build the right content strategy, nurture program or sales strategy.

Most marketers rely on web analytics to tell them which web pages were visited, time on page, content viewed, and website pathing.   With cookies a profile can be built over time in your marketing automation system (assuming they support this feature) that marketers can use to roughly deduce a target account’s intent.  It’s not very sophisticated but if the same target account has visited a set of product pages several times the chances are high they’re in the market for a solution.   The same applies to ads.  Marketers rely on ads to drive awareness but majority of ad-clicks don’t result in further interaction.

Analytics measure siloed events, not journeys.  As a result content consumption data is fragmented and scattered across the industry.

Publishers, advertisers, companies, etc. all have bits and pieces of the bigger picture of what target accounts are doing.  Short of launching a customer journey project that develops an actionable journey map of customer actions, which is what every marketer should be doing right now, to understand and pinpoint  what a buyer is up to – where they go, who they talk, what they access, and how they use it – there aren’t many options for marketers. What marketers need is an automated way of aggregating all those bits and pieces into a holistic picture of their target accounts’ action.

An innovative approach was launched from New York City-based Madison Logic who has the potential of turning the industry on its head by aggregating and monitoring behavioral B2B intent data across all the channels, ad networks and outlets.

Madison Logic takes the raw data feeds, aggregates and analyzes the data and then make it available to list vendors, telemarketing companies, and product companies who in turn use it to spot prospects with high intent.  They currently track over 50 million unique buyer interactions.  Because they aggregate content consumption across multiple channels and ad networks, companies are able for the first time to track their target accounts, determine intent and know what the right next step is to engage that buyer in a meaningful conversation.

What’s the big deal?

Today, every outlet and network owns and monetizes just their data.  If you run an ad on a couple networks, you have to get the performance stats from each of them and attempt to piece together what your target accounts did, if anything, on each network.  A time consuming and inaccurate process that most companies skip because it is too hard.

“Most contacts in a marketer’s database have only one interaction,” said Mike Burton, VP platform and data marketers for Madison Logic. “Aggregating the industry’s intent data into one large silo and tying it back to accounts and individuals will give us the data we all need to fulfill the promise of MA, lead scoring, and much more.”

With Madison Logic you can monitor what content your target accounts consumed, when, and where.  By integrating that data with your marketing systems, you’d be able to quickly spot which buyers are demonstrating high intent and are ready for a call or an offer.  Armed with content consumption patterns you have a pretty good idea of what you should do to deepen brand preference or get on their radar screen.  “Think of MadisonLogic as one great big data warehouse that captures where B2B buyers go and what content they consume,” shared Burton.

The secret sauce of Madison Logic is in their ever growing network of publishers. “We create a co-op with publishers,” states Burton. “But it goes against the guard who believe in hoarding their data.”   While some may cite privacy or creep-factor as issues with this approach, Burton believes it’ll reduce spamming, cold-calling and opt-outs because he believes the B2B marketing industry is at an inflection point.

Some big brands and agencies are using Madison Logic for behavioral segmentation and spotting warm leads. More advanced customers are integrating Madison Logic with their marketing automation system to be more prescriptive in their micro-segmented demand generation, nurturing and lead retargeting campaigns.

Finally, B2B marketers and agencies have credible data to drive relevant, meaningful conversations at the right time.

 
Update
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan Rakyat was told ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken into by ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected by the Dewan Raky ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri Hisham ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in the southern states last ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 million in com ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an a ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar S ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

8 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damans ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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