The data that you are able to gather through the use of our tools can be utilized in a multitude of ways, with our customer case studies putting a spotlight on just a few key examples.
However, it could prove particularly useful as you look to improve your marketing through a range of concepts, including purchasing intention. In this article, we are going to provide some basic information on what the issue entails and how it could potentially help you boost your sales, by targeting people who just require a little nudge to make use of your services.
What is purchasing intention?
There are many different definitions of what purchasing intention means on sites all over the internet, with IGI Global remarkably featuring several takes on just a single page. However, the idea can probably be summed up in one line, as it is essentially the probability of a person choosing to buy a specific product or service.
For example, if you are casually browsing online for new clothes out of curiosity and with no specific purpose, it could be said that your purchasing intention is pretty low. Alternatively, if you have spent the last few days searching for a specific item that you need and have compared prices across several different sites, it may well be the case that your purchasing intention is very high.
What are the factors affecting purchase intention and buying intent?
It is believed that a whole range of factors can have an impact on the purchasing intention of consumers, and several studies have made the effort to try and identify some of the fundamental elements.
For example, a study published in the Global Journal of Management and Business Research in 2015 investigated the issue to see which specific factors had a major impact on consumers. It concluded that those who have a major relationship with purchase intention included:
- Perceived value
- Customer knowledge
- And celebrity endorsement
In contrast, research published in the Journal of Multidisciplinary Engineering Science and Technology in the same year examined the purchasing intention of customers looking at the Bono brand tile. It concluded that product quality, brand advertising, and name all had a major impact on intention, while packaging and price did not have a significant effect.
How does purchasing intention relate to sales?
Having access to such information is undoubtedly interesting, but you may be wondering how it relates to sales. Well, it could be argued that having an understanding of such matters could prove useful as you look to not only recognize the behavior of clients but also ultimately enjoy a little more sales success.
For example, if potential customers or clients have landed on your website after searching for specific terms related to a product or service, this could give you some hints as to what they are seeking. From this data, you could then angle promotions and deals around such issues.
This, in turn, may mean you can take steps towards turning warm leads who have shown an interest in your services, into fully-fledged customers – with this ultimately ensuring you achieve greater sales.
How can you recognize the intention to buy?
As we have touched upon briefly in the previous section, if you have a strong online presence, one approach may be to take a deep dive into search keywords.
The Alexa blog features a host of detail on how to identify keywords with buyer intent. It explains that, while some phrases may highlight when individuals are just browsing for general information, others can provide clues as to when someone is looking for a specific product or preparing to make a purchase.
It adds that the buying stage can be linked to certain search keywords, with people who are getting ready to buy a product often doing research on a very specific basis. You can then use that information to improve your website content or influence the promotions that you choose to run.
What is intent-based marketing?
Using that data in such a manner can be referred to as intent-based marketing. As 7Edge explains in its beginner’s guide on the issue, this is the idea of using detail on purchasing intention to provide consumers with information that is designed to help them take that next step of buying a product or service.
For example, the site explains how you might notice when looking at data that a certain individual has shown intent, but has then backed out of a making a purchase seemingly at the very last moment. With that in mind, you can then create marketing strategies with the purpose of providing them with exactly what customers are looking for.
As 7Edge highlights, the concept can be pretty effective, particularly in the sense that it should mean your marketing generates better ROI. Why? Well, you only have to guide customers through the final stage of their buying journey, rather than starting at the very beginning and guiding them the entire way.
Get to grips with purchasing intention
The marketing world is full of all kinds of concepts and ideas which are designed to help you boost your levels of sales success.
However, purchasing intention is certainly a useful issue to get to grips with, as it could mean you are able to transform lukewarm leads into loyal custom, simply by understanding what they want and need.
We hope that this blog has provided you with plenty of food for thought on the issue and we would encourage you to consider how these ideas could have an impact on your organization. We’re sure you won’t regret it.