As the world becomes increasingly digitized, the way consumers behave and make purchasing decisions is evolving.
With more and more people turning to the internet to research and buy products, understanding buyer intent has never been more crucial for businesses.
In this blog post, we will take a closer look at buyer intent statistics, including trends, adoption, market analysis, demographics, and more.
Key Statistics 2023 – MY Choice
- 72% of marketers believe that understanding buyer intent is the key to delivering relevant content and experiences.
- 59% of buyers are more likely to engage with personalized, relevant content.
- Buyer intent signals can predict purchase likelihood up to 90% accuracy.
- 53% of marketers say that understanding buyer intent is their biggest challenge.
- 59% of buyers are more likely to engage with personalized, relevant content.
- Buyer intent data can improve conversion rates by up to 202%.
- 94% of businesses say they use buyer intent data to personalize their marketing and sales efforts.
- Buyer intent data can help identify high-value leads earlier in the sales process.
- 65% of B2B buyers research a vendor’s products or services before making a purchase.
- 74% of B2B buyers conduct more than half of their research online before making a purchase.
Trends in Buyer Intent
- The number of online shoppers is expected to reach 2.14 billion by 2021. (Statista)
- Over 60% of online searches for products are now made on mobile devices. (Search Engine Journal)
- 90% of consumers research products online before making a purchase. (GlobalWebIndex)
- Nearly 70% of consumers say that online reviews influence their purchasing decisions. (BrightLocal)
- Over 80% of consumers use search engines to research products. (Google)
Adoption of Buyer Intent Analysis
- 70% of marketers use buyer intent data to inform their digital marketing strategies. (Hubspot)
- Over 80% of B2B companies use buyer intent data to personalize their marketing efforts. (Forrester Research)
- 60% of marketers say that using buyer intent data has improved their conversion rates. (Hubspot)
- 80% of companies using buyer intent data report a higher return on investment (ROI) compared to those who don’t. (Marketing Charts)
- Nearly 70% of companies believe that buyer intent data will become even more important in the next 5 years. (Forrester Research)
Market Analysis of Buyer Intent
- The global market for buyer intent analysis is expected to reach $2.2 billion by 2023. (Market Research Future)
- North America is the largest market for buyer intent analysis, accounting for over 40% of the global market. (Market Research Future)
- The B2B sector is the largest adopter of buyer intent analysis, accounting for over 60% of the market. (Market Research Future)
- The retail and e-commerce sectors are also significant adopters of buyer intent analysis, accounting for over 20% of the market. (Market Research Future)
- The healthcare sector is the fastest-growing adopter of buyer intent analysis, with a compound annual growth rate of over 20%. (Market Research Future)
Demographics of Buyer Intent
- Women make up the majority of online shoppers, accounting for over 60% of purchases. (Statista)
- Younger generations, such as millennials and Generation Z, are the largest users of digital channels for research and purchasing. (PWC)
- Higher-income consumers are more likely to research and purchase products online. (PWC)
- Over 80% of consumers who research products online say that they do so to compare prices. (Google)
- Nearly 70% of consumers who research products online say that they do so to find the best deals. (Google)
The Future of Buyer Intent
- The use of artificial intelligence (AI) and machine learning (ML) to analyze buyer intent data is expected to increase significantly in the next 5 years. (Forrester Research)
- The use of buyer intent data to personalize marketing efforts is expected to become even more widespread. (Forrester Research)
- The use of buyer intent data to inform product development and innovation is expected to increase. (Forrester Research)
Understanding Buyer Intent
Buyer intent refers to the underlying motivations and goals that drive a person to make a purchase. By understanding buyer intent, businesses can create more effective marketing campaigns and sales strategies, ultimately leading to higher conversion rates and revenue. Here are some key statistics that help illustrate the importance of understanding buyer intent:
- 92% of B2B buyers say they are likely to switch brands if they feel the current one doesn’t understand their needs.
- Buyer intent data can increase conversion rates by up to 15%.
- 60% of B2B buyers say they use search engines to research products and services before making a purchase.
- The average B2B buyer uses 12 sources of information before making a purchase decision.
- In 2021, over 70% of businesses reported using buyer intent data to inform their marketing strategies.
Adoption of Buyer Intent Technology
As businesses seek to better understand their customers and improve their marketing strategies, the use of buyer intent technology has grown significantly in recent years. Here are some statistics on the adoption of buyer intent technology:
- In 2021, the global market for buyer intent technology was valued at $1.6 billion.
- This market is expected to grow at a CAGR of over 30% from 2021 to 2026.
- Over 70% of businesses reported using buyer intent technology to inform their marketing strategies.
- 70% of businesses reported a positive ROI from their investment in buyer intent technology.
- By 2023, it is estimated that over 90% of businesses will be using buyer intent technology in some form.
Impact on Marketing and Sales
By using buyer intent data, businesses can create more effective marketing campaigns and sales strategies. Here are some statistics on the impact of buyer intent data on marketing and sales:
- Companies that use buyer intent data see an average increase of 15% in conversion rates.
- Buyer intent data can reduce the cost of customer acquisition by up to 20%.
- In 2021, companies that used buyer intent data reported an average increase of 10% in revenue.
- 82% of businesses reported improved target audience identification as a result of using buyer intent data.
- Companies that use buyer intent data are 50% more likely to achieve their marketing goals.
Demographics of Buyer Intent
While buyer intent is important for businesses of all sizes and industries, certain demographics are more likely to use buyer intent technology. Here are some statistics on the demographics of buyer intent:
- Small businesses (under 50 employees) are the most likely to use buyer intent technology, with 80% adoption rate.
- Mid-sized businesses (50-999 employees) have a 70% adoption rate for buyer intent technology.
- Large businesses (over 1000 employees) have a 60% adoption rate for buyer intent technology.
- The industries with the highest adoption rate of buyer intent technology are software and technology (80%) and finance and insurance (75%).
- The average user of buyer intent technology is a marketing or sales professional with over 5 years of experience.
Buyer Intent Data Tools Market Statistics
- In fact, according to market research firm Ascend2, 97% of B2B marketers believe that third party intent data will give brands a competitive advantage in the year ahead.
- In fact, a market study has shown that 25% of B2B businesses are currently using intent data, while another 35% are preparing to use it within the next year.
- According to Gartner, by the end of 2023, at least 70% of all B2B marketers will utilize intent data for their prospecting.
- On average, our clients experience a 300% increase in their marketing ROI.
- With hyperspecialized sales and marketing systems like PayPer Click digital marketing and targeted SEO advertising, some reports claim that in 2020 almost 69% of all firms reported a dip in their advertising expenditure.
- Intent data helps B2B marketers to know what a potential buyer is likely to buy, say, or do next across the web.
- Did you know 62% of marketing professionals view hyper personalization as a crucial strategy?.
- Statistics show that when businesses are deploying ABM align their marketing and sales teams, they become 67% better at closing deals.
- Statistics reveal that 73% of B2B marketers use intent data in email marketing.
- Furthermore, 62% of B2B marketers agree intent data improves their nurturing and personalization workflows.
- 89% of B2B researchers use the internet during the B2B research process.
- Today’s business buyers do not contact suppliers directly until 57% of the purchase process is complete.
- 16% of marketers say outbound practices provide the highest quality leads for sales.
- By the end of 2023, more than 70% of B2B marketers will utilize third party intent data to target prospects or engage groups of buyers in selected accounts.
- Almost 40% of businesses are spending more than half of their marketing budget on intent data, and 70% plan on increasing spending on intent data next year.
- According to our latest study, the global B2B Buyer Intent Data Tools market size is USD million in 2023 from USD million in 2021, with a change of % between 2021 and 2023.
- The global B2B Buyer Intent Data Tools market size will reach USD million in 2028, growing at a CAGR of % over the analysis period.
- The United States B2B Buyer Intent Data Tools market is expected at value of USD million in 2021 and grow at approximately % CAGR during review period.
- China constitutes a % market for the global B2B Buyer Intent Data Tools market, reaching USD million by the year 2028.
- In APAC, the growth rates of other notable markets are projected to be at % and % respectively for the next 5.
- Only 1% are yet to explore this data driven B2B marketing technique, showing a level of maturity in the use of intent signals across the industries.
- Only a tiny percentage (3%).
- As seen with our earlier stats, only 1% of marketers aren’t using intent data in their strategy, in some form or another.
- But according to , CMO at 6sense Latané Conant“You don’t have a known marketing funnel, you have a dark funnel—all the activities that buyers are doing that you can’t see.
- Gartner notes that “by the end of 2023, more than 70% of B2B marketers will utilize third party intent data to target prospects or engage groups of buyers in selected accounts.”.
- Ecommerce Statistic #15 Nearly half of online shoppers simply head straight to a large ecommerce marketplace.
Buyer Intent Data Tools Software Statistics
- 40% of software companies 47% of midsize businesses.
- According to new research from TrustRadius, only 40% of software companies currently use buyer intent data for lead generation.
- It’s also worth noting that 25% of the software vendors we surveyed weren’t sure if their company uses intent data or not.
Buyer Intent Data Tools Adoption Statistics
- With the start of big data adoption into commercial enterprises, companies using data modeling have a 5 6% higher profitability rating than their rivals who do not use data analytics tools.
Buyer Intent Data Tools Latest Statistics
- According to studies by leading industry analyst firms, an average B2B prospect is already 67% of the way into their purchasing journey before ever engaging with a salesperson.
- This means prospective customers have an intention to buy a product or services and a BDR only has to focus on the remaining 33% to close the deal.
- only about 10–15% may actively engage in a sales cycle to become qualified leads.
- Yet if 98% of your website visitors are anonymous, how would you effectively determine intent?.
- Meet Lift AI — the only platform that leverages the power of artificial intelligence and a proprietary machine scoring model to identify website visitors under any conditions, with over 85% accuracy.
- At SalesIntel, we provide 95% accurate and human verified contact data with deeper insights into ideal buyers with our Intent Data.
- We have a track record of providing 95% accuracy with all our data, well above average industry standards.
- Our clients’ calltoconnect ratios jump from 20% with only internal data banks to more than 100% with SalesIntel powered accurate B2B Intent Data.
- At SalesIntel, our clients report that the use of intent data contact information has reduced the prospecting time on each lead conversion by up to 80%.
- Compared to when they are served using only demographic signals, ads served with intent signals alone have 40% greater purchase intent lift and 30% greater consideration lift.
- Only 25% of B2B companies are currently using intent data and monitoring tools.
- Only 46% ofsales repsreceive data insights on customers’ propensity to buy.
- Prospects spend 50% of their time seeking information from third.
- According to Lead Connect, 78% of customers buy from a company that responds to their inquiries first.
- 99% of large companies are using intent data.
- According to TOPO’s latest Intent Data Market Guide, B2B intent data has emerged as the fastest growing data category over the last three years, changing how teams prioritize their time and gather insights about accounts.
- As for the Europe B2B Buyer Intent Data Tools landscape, Germany is projected to reach USD million by 2028 trailing a CAGR of % over the forecast period.
- In terms of revenue, the global largest two companies occupy a share nearly % in 2021.
- In 2023 with CAGR of 3.82% Industry size estimation, Revenue Analysis, Worldwide Research by Fastest Growing Companies.
- In 2023 with CAGR of 25% Industry size estimation, Revenue Analysis, Worldwide Research by Fastest Growing Companies | 120 Pages Report.
- According to our latest research, 99% of companies are using intent data in some way or another.
- Recent research highlights that over a third say they are “confident” about their intent data practices, while a huge 64% say they are “very confident” about achieving results.
- While 19% favor third party data, over a quarter prefer to stick to data sourced internally.
- However, the largest group (55%).
- In terms of spending, a substantial number of businesses (39%).
- While 31% of companies plan on allocating the same amount of budget in the next 12 months, a large 67% plan on spending more.
- Only 2% of respondents say they will be decreasing spend.
- The most important statistic from our study shows resounding positivity regarding results, with almost everyone (99%).
- While 13% reported on increased return on investment and 22% reported on better conversion rates, 64% told us they had seen improvements in both.
- Again, almost everyone in the group (98%).
- Gartner claims that more than 70% of B2B buyers will increase their use of third party intent data by the end of 2023.
- According to a study conducted by intent data provider TrustRadius in 2021, these companies are leveraging intent data.
- 100% of buying decisions took place online.
- 47% of midsize businesses currently use intent data.
- That makes sense, given that only 4% of our survey respondents worked directly in the demand generation department.
- How Successful Marketers Use Intent Data to Drive RevenueOut of the 40% of tech companies who use any type of intent data, 70% of them use it for prospecting.
- Tips from 6senseAccording to TrustRadius research, only 52% of the companies who use buyer intent data apply it to ABM.
- And even less (46%).
- CMOis CMOofofOnly 26% of vendors who use review sites leverage their 2nd.
- Of the 40% of tech vendors who have an intent data provider, 90% of them already work with review sites in a paid capacity.
- 70% of vendors we surveyed use intent data to find leads.
- Most importantly, up to 60% of TrustRadius intent signals come from enterprise buyers—while G2’s site attracts more of an SMB audience.
- According to G2, 47% of their reviews come from small businesses.
- This means you’re more likely to receive ABM lists of smaller companies if you purchase intent data from G2.
- Out of the 40% of tech companies who use any type of intent data, 70% of them use it for prospecting.
- According to TrustRadius research, only 52% of the companies who use buyer intent data apply it to ABM.
- But according to , CMO at 6sense Latané Conant.
- Only 26% of vendors who use review sites leverage their 2nd.
- (Only 20% to 30% reported wanting to ever physically interact with reps again.).
- Are confident making large digital purchases (roughly 70% said they were “comfortable” spending over $50,000 or more online).
- The company generated $33,000 in revenue and beat its goal by more than 15%.
- Start selling online now with Shopify Start your free trial Ecommerce Statistic #1 It’s estimated that there will be 2.14 billion global digital buyers in 2021.
- In fact, with an expected global population of 7.87 billion people , that’s about 27.2 percent of the world’s population shopping online.
- In 2021, ecommerce sales are expected to account for 18.1 percent of retail sales worldwide.
- It’s growing so quickly that it’s expected to make up a whopping 22.0 percent of retail sales worldwide by 2023.
- Other key reasons include the ability to use coupons and apply discounts , read other customers’ reviews , easily return their items , and have a quick checkout process.
- 33.6 percent of shoppers look up price comparisons on their mobile device while in a physical store.
- To learn how, check out 81 percent of consumers conduct online research before making a purchase online.
- 81 percent of consumers trust the advice of friends and family over businesses.
- 58 percent of people stop doing business with a company because of poor customer experience.
- To learn how, check out Ecommerce Statistic #9 Consumers are most likely to trust a business that makes it easy to contact people at the company.
- Ecommerce Statistic #10 On average, only 1.94 percent of ecommerce website visits convert into a purchase.
- But No Conversions 69.57 percent of shopping carts are abandoned.
- Ecommerce Statistic #13 Abandoned cart follow up emails have an average open rate of 41.09 percent.
- according to Campaign Monitor , the average email open rate is just 18.0 percent.
- On average, 52 percent of online stores have omnichannel capabilities.
- To learn how to capture the attention of consumers, read And to effectively build trust, check out Ecommerce Statistic #16 Mobile ecommerce accounts for 45 percent of US ecommerce sales.
- Ecommerce Statistic #17 Users who have a negative experience on a mobile website are 62 percent less likely to purchase from that business in the future.
- In fact, the probability of a user bouncing off a mobile webpage increases by 32 percent when the page takes between one and three seconds to load.
- Specifically 38.4 percent of online shoppers in the US are below the age of 35.
- Just 14.4 percent of people who shop online in the US are 65 years old and above.
- Statistics show that 87% of the Buyer’s Journey is now done digitally and that B2B buyers are usually 57% complete with their buyer’s journey before engaging with a sales team.
- Given that 74% of B2B buyers ultimately select the vendor that first provided value when they conducted research, utilizing Intent Data is essential to generating leads and closing deals in the modern age.
- Reaching them at this early stage is crucial because, as stated earlier, 74% of B2B buyers ultimately select the vendor that first provided value when they were conducting research.
- Companies like 6Sense offer predictive tools, which combine FirstParty intent data with SecondParty and Third Party Topic Data to mine leads and allow you to focus on likely target accounts.
Conclusion: The Importance of Staying Ahead in the Buyer Intent Space
Buyer intent data is an increasingly important tool for businesses looking to better understand their customers and create more effective marketing campaigns and sales strategies.