Some 64% of marketers participating in a survey believe that by combining site-level data and search behaviors, marketers have a greater ability to reach audiences through the consumer funnel. And 78% of respondents believe using intent data improves the relevancy of ads, and 67% agree that capturing search query information and using it for retargeting is valuable.
Magnetic on Tuesday released a commissioned study conducted by Forrester Consulting that highlights benefits and challenges of using data and intent-driven advertising to find and retain customers. The results found that while marketers recognize the value of using intent at multiple stages in the buying process, they use the same data sources for both strategies, suggesting they are either overusing or under-using data. The survey results are from 130 brand marketers from companies with more than $10 million in annual revenue across France, Germany, the United States and the United Kingdom.
Many marketers say their companies have taken some effort to use intent data to find and retain customers. Study results show that 59% already have combined site and search retargeting strategies, and 57% integrate first- and third-party data.
Despite all these efforts, marketers still struggle with understanding and making sure they have the correct data sources, per the findings. Survey respondents said they use the same sources of data for both prospecting and retention. About 64% agree they need better data to support finding new and existing customers.
While marketers are aware that using intent data can improve the relevancy of advertising, they also appreciate the difficulty of integrating data to create one view of customers. In fact. 81% of marketers in Magnetic's study agree that analyzing customer data is a valuable way to predict consumer intent, and 70% agree that historical data improves the relevancy of advertising served to prospects.
With 64% combining site-level and search behavior data, marketers have a greater ability to reach audiences across the consumer funnel, per the study.