Podcast Ep. 139: Intent Data: How it Benefits Law Firm Marketing

In this episode of the Legal Marketing 2.0 Podcast Guy is joined by Ryan Klekas, Ryan Klekas is the Director of Partnerships at Bombora. Ryan works with Bombora’s strategic partners to ensure both they and their clients clearly understand how to use and achieve success with Bombora’s industry leading targeting intent data. The focus of Ryan’s and Guy’s discussion is on the power of Bombora’s intent data, why intent data is becoming more relevant, and how law firms can strategically leverage intent data for their marketing efforts. You can connect with Ryan on LinkedIn or follow Bombora on Twitter.

You probably remember Ryan from our Account-Based Marketing (ABM) for Law Firms webinar we put on recently – if you missed it check it out because Ryan delves in deeper on the utilization of intent data for ABM. 

 

Podcast Show Notes

 

1. What is Intent data and why is it so popular for B2B law firms?

Intent data tells you when buyers and organizations are actively researching online for a solution, and then the products and services they are interested in based on the web content they consume. Marketing and business development leaders use intent data to their advantage by understanding which companies and businesses are in the market to hire a law firm. In this way they’re able to avoid wasting time and money on those companies that are not interested. Intent data is really big in the B2B legal space because it allows firms that are already engaging in account-based marketing strategies to be as efficient as possible with resources around business development, outreach, marketing, and advertising. 

Related: By Harnessing Intent Data, Law Firms Can Zero In On Companies That Want Their Services

2. “How” does Bombora do intent data, and what makes it different from others in the market?

The unique thing about Bombora is that we’re actually partners with many sites. Companies and publishers such as Forbes and the Wall Street Journal have a one to one relationship with us. 70% of our 4000 websites that make up our co-op are actually exclusive with us. This means they themselves cannot actually provide intent to any other provider in the market. Bombora has also developed our own topic engine model, we have over 8,500 B2B specific topics in which Bombora collects data and signals from.

3. How does Bombora integrate with LinkedIn?

Bombora has a unique native integration to LinkedIn that actually stems from our own platform. You can take a list of companies you are interested in targeting and once uploaded into Bombora it’s going to reduce it down to companies this week that are showing intent on your topics and then you just connect it directly to your mass audience account. From there you can layer on more personas within LinkedIn and set the campaign live. The list will automatically update in the backend. 

4. What would you say to marketing professionals at law firms that are interested in intent data?

We can really help anybody interested in finding out what other companies are doing research on that’s relevant to legal based solutions in particular. Bombora has over 500 specific legal topics to utilize when doing intent research. 

The second thing I would like listeners to know is that there’s a large misconception in the market that all intent is created equally in both how it’s collected and also how it is put to use. This isn’t true.

5. What are 3 things everyone should know if they’re going to use intent data or are interested in it?

I’ll just leave your listeners with three questions that they should really dig into when deciding who should be their intent provider:

1. Does the vendor that you’re evaluating have access to the relevant B2B research sources? 
2. Does the vendor have permission from these sources and can they prove it? 
3. After the vendor has explained to you where their data comes from, could you then explain it to your boss correctly?

 

With Bombora it’s very simple, we have our co-op relationships, over 70% of the contributors to the co-op are exclusive to Bombora, and we do not hide where we get our data from. 

 

6. How can people measure whether intent data is working for their business?

Different companies categorize wins versus losses differently than others. The first thing you want to do is establish where you want to focus your efforts on, whether it be for business development or it be for marketing. Once you’ve honed in on that you can start measuring metrics like click through rates, cost per impressions, and conversion rates through methods like A/B testing. 

Takeaway

Intent data has proven to be an effective tool in any digital marketing professional’s arsenal. Leveraging the power of intent assists law firm marketers in deciphering which targeted companies and accounts are ready to make purchasing decisions. With this data, law firms can seize the opportunity and make relevant value offerings in a timely manner.

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