Utilizing Buyer Intent Data to Drive Sales

Posted on April 30th, 2021 by nms

In today’s business environment, companies of every size and industry niche are using data in ways not deemed possible in years past. This data can influence business decisions, identify new opportunities, and drive organic growth. Insurance agency growth is dependent on providing consumers with the products and services they need to protect their property and financial assets. By understanding the intent of insurance buyers, agencies can gain new insights into boosting sales. In this guide, we will explore buyer intent data and show you how to use it to spur insurance agency growth.

What is Buyer Intent?

Buyer intent is the concept of what buyers want when they are searching online for information. This intent can be influenced by demographic and personal preferences, geographical location, and specific needs. The key to leveraging buyer intent for insurance agency growth is to anticipate and understand consumer factors and to incorporate buyer preferences and needs into all aspects of marketing both on- and offline.

How is Buyer Intent Data Collected?

Digital marketers and search engine optimization (SEO) professionals collect data to pinpoint the success or failure of different online marketing components. Buyer intent data is some of the information that is collected and used to inform marketing decisions. Buyer intent data can include:

  • Common keywords and key phrases used as search terms.
  • Site visitor engagement rates.
  • Details on the types and locations of sites visited during searches.
  • Bounce rate.
  • Behavioral data.
  • Demographic details.

A wide range of customer relationship management (CRM) and third-party data analytic tools are used to collect and interpret buyer intent data. Google Analytics is only one of numerous third-party data tools available to digital marketers. The crucial aspect of buyer intent data is that it provides a first “touch point” between an insurance agency and a potential customer; by understanding this data, your agency can engage with those most likely to take the next step in their insurance purchasing journey.

Getting the Most Out of Buyer Intent Data

Now that you have collected and interpreted buyer intent data, what can you do with it to improve insurance agency growth? The first benefit of this data is that it helps you identify where a potential buyer is within the purchasing funnel. Is he or she in an initial research phase, or is that person getting ready to make a purchasing decision? In other words, is a visitor just taking a look at your offerings or is the visitor a prospective sales lead? By taking a close look at the data, you have a better chance of connecting with customers right when and how they need it.

To get the most out of this data, the details it reveals must be reflected across your marketing initiatives. Marketers use this information to develop unique messaging and tone across platforms from your print ads to your website, social media pages, and sales emails or newsletters. The key here is to use this data to differentiate you from your competitors by giving them a reason to go with your agency.

Buyer intent data can also be used to develop website, blog, and social media post content. This data can reveal what sort of information consumers are looking for, no matter where they are in the purchasing funnel. Creating content that speaks to those preferences and information needs further sets your agency apart. Engagement with the right information has a powerful effect on insurance agency growth. By engaging your qualified leads with the details they need to take the next step, your agency can cement its growth strategy, ensuring success well into the future.

About Agency Tsunami

Agency Tsunami is the digital marketing division of Neilson Marketing Services, who has provided the insurance distribution sector with innovative marketing and communication solutions for over twenty-five years. With our Agency Tsunami program, we have implemented an integrated marketing strategy that includes optimized, professional websites supported by high-quality SEO and Social Media for hundreds of insurance retailers and wholesalers. Our goal is to help your insurance business perform and generate new opportunities. Give us a call at (800) 736-9741 to learn more about how we can do that for you.