Imagine having a little bird in your ear telling you which accounts you should run your marketing programs into this week, or telling you exactly which prospect to strike up a sales conversation with and when. The bird would tell you when someone is interested in your product, what kinds of research they’re doing, and the kinds of things that would make them interested in your company.
Having this little bird whispering in your ear would result in shorter sales cycles, more meaningful client relationships, and less time spent making worthless cold calls. Best of all, she could reduce your cost per acquisition.
High Cost of Acquisition
The time you spend chasing down prospects that aren’t a good fit or pursuing leads that don’t have intent to buy drastically drives up the cost of acquisition.
Lots of time and budget go into educating leads about WHY they need your solution—much of which has to happen before a lead even becomes a prospect. And once in a sales cycle, you’ll need to educate even further to help the important stakeholders get on board with buying.
But what if you were to go after companies that have strong Fit and are actively in-market for your solution? You could drastically reduce your acquisition costs.
Self-Educating Companies Reduce Your Acquisition Costs
Companies showing strong Intent are actively spending time educating themselves on topics related to your solution. They’re doing their own research, absorbing any and every piece of relevant content, and looking to industry leaders to get better educated on how to solve their needs.
This helps you reduce costs in a few different ways:
- Less $ Spent on Top of Funnel
These prospects are already familiar with their pain points, and are aware or close to being aware of their need for a solution. Thus the offers you serve or send to them can be lower in the funnel—like a demo request or free trial—accelerating the sales cycle and reducing your spend on Top of Funnel education.
- Content Creation
When you know the Intent topics relevant to your prospects and product, you can narrow the focus of the content you create to center around them. Now, your content generation process becomes less of a guessing game: you can create meaningful content and eliminate time spent on content that won’t be relevant to your audience.
- Targeted Campaigns to Reduce Spend
Knowing the accounts with good Fit and Intent means you can improve your campaign conversions and spend budget on the right prospects. When you run a marketing program that only includes these accounts with active Intent, your budget isn’t wasted on leads that are likely to never convert to customers, and the prospects in the campaign are more likely to convert because we know they are actively in-market. If you can spend the same amount and set yourself up for a strong likelihood of more conversions in your campaign, why wouldn’t you?
- More Effective Outbound
Let’s say you’re actively researching on a specific topic and an email pops into your inbox addressing that very thing you want to know more about. You’d likely be inclined to respond—or at the very least, go learn about the company that sent you the email. When sales development teams target accounts displaying Intent with their outbound efforts, they drastically improve their productivity. They spend less time chasing cold accounts and more on those that actually want to talk to them, which means better response rates and the potential for shorter sales cycles.
Finding companies with good Fit and strong Intent means you can focus your efforts on engaging with prospects in an effective, meaningful way. Combine that with targeted marketing programs and prioritized outbound efforts, and you’ll drastically reduce your cost of acquisition.
For more ideas on how you can use Fit and Intent to reduce your acquisition costs, download the FIRE eBook.