We’ve talked a lot about Fit and Intent on our blog, but we really haven’t talked about the ‘R’ in FIRE: Recency.
Recency essentially gives you a timestamp of when a customer’s Intent began. That is, when did a prospect start doing online research for the product or solution that you offer. This is important to know because if someone is doing a heavy amount of research in your space, you want to be able to engage with them as soon as possible.
If someone is actively looking for a new car today, a car salesperson would want to engage with them immediately. On the flip side, if someone was showing interest in buying a new car, but a car salesperson was alerted to this eight months later, there’s a good chance the customer has already purchased a new car, and the opportunity is lost.
This seems like a basic piece of information, but it’s critically important and one that people often overlook. If you don’t understand the age of a customer’s Intent, you’ll spend a lot of time chasing outdated leads and missing out on a lot of opportunities.
Recency is About Timing
It’s all about timing and making the connections to your prospects at the right time. The key is not about knowing the last time they looked for something — that could be them checking a few things out at the end of their research process. If they started searching for your solution six months ago, and you’re just now hearing about it, you’re out of luck. So we update our Intent scores on a weekly basis to catch any new prospects.
For example, let’s say one of our prospects started looking into predictive marketing on Monday of this week. This would generate an initial timestamp of Monday, and the Recency activity would start on that day. But if they did any additional research, it would add that time stamp to our information, but that wouldn’t change the Recency date. We would still know it started on Monday, and we could react accordingly.
Recency is like a ticking clock. That moment when you understand this a race and the first person who reaches the customer is most likely going to get the deal makes this an even more urgent, more vital process.
More than anything, knowing the recency of a prospect’s intent gives you a bit of a head start because you gain a better understanding that a prospective company is getting ready to make a purchase, but haven’t yet engaged with your company. So instead of waiting for them to show up, you can make the initial overtures before they start to settle on a favorite company.
Recency is like the starting gun signaling the start of a race, indicating that it’s time to engage with this customer. Understanding Recency gives you a chance to take off a few seconds before the gun goes off and getting a massive head start on everyone else. Otherwise, you’re simply waiting for them to reach the finish line before you make that initial contact.
To start learning when your prospects started researching your company and keywords, receive a free Intent Assessment.