How Banks Can Use Intent Data to Find New Customers

3 minutes
Oct 12, 2022
Predictive Analytics

6sense can tell revenue teams who their potential customers are, as well as when they are ready to buy. These predictions are so powerful, in fact, that revenue generation is...

How Banks Can Use Intent Data to Find New Customers

6sense can tell revenue teams who their potential customers are, as well as when they are ready to buy. These predictions are so powerful, in fact, that revenue generation is 120% more effective when using 6sense to identify and pursue accounts that are in-market.

But what powers this ability? In large part, intent data — the digital footprints left behind when people do online research. This activity creates data points that are usually anonymous, but can be accurately matched to target accounts using algorithms that  account for IP addresses, cookies, device IDs, and more.

Matching buying intent signals to a list of target accounts gives marketing and sales teams deep insights into their needs and where they are in the decision journey. That’s a huge advantage when you are trying to market and sell.

The very same intent data can be used to give banks insight into potential customer opportunities.

Here’s how.

Traditional Decision-Making vs. Data-backed Decision-Making

Very simply put, banks determine potential companies to pursue by:

  • Networking
  • Acquiring lists of new business licenses
  • Digital advertising to generate inbound leads

But when done the traditional way, without the benefit of a platform like 6sense, the data is limited. Banks lack visibility into which customers are ready to buy unless the customer volunteers that information in person, on a call, or by submitting a form on their website. You may have a list of businesses in your community, but you lack insights into:

  • Which companies are actively researching business loans, payment processing, or other cash flow solutions
  • Which companies are researching your competition, but not you
  • Which topics are they most interested in right now

Banks that use a platform like 6sense can leverage data to see the bigger picture and make more strategic decisions regarding potential customers to target.

Examples of Intent Data

6sense tracks several types of intent data. Here are a few that are particularly powerful for banks working to build their B2B portfolios:

Keywords and Topics

Among the intent signals that 6sense can capture are the keywords and topics companies that are researching. Banks can use these insights to:

  • Spot companies seeking services your bank provides, based both on granular keywords — such as “payment solutions,” “payroll services,” or “business credit reports” — and broader keyword topics such as “business banking”
  • See which companies are researching your bank or competitors
  • Spot cross-selling and upselling opportunities among your current customers — and stay in front of the conversation when they may be starting to research banking alternatives
  • Study demand for potential business line expansions

Understanding this keyword data can help banks track the market, identify desirable opportunities, and be the first to engage in sales conversations based on what they know the target company is already interested in.

Website Activity

6sense uncovers anonymous activity on customers’ websites so you know exactly which accounts are checking you out — and which pages they’re visiting. Banks can add 6sense website tags to track which pages potential and current customers are visiting and which content they are consuming.

These insights help you understand what your customer is researching and which services they are most interested in, which should guide your marketing and sales conversations.

Knowing their content consumption patterns can also help you deliver specific campaigns and resources to help them in their research — deepening engagement and boosting your chances of landing their business.

Conclusion

In a competitive market, companies have plenty of options to choose from when it comes to banking services. That’s why it’s critical for banks to have access to all of the data available to uncover potential customers, understand what their needs are, and reach out to them before the competition does.