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In B2B sales, timing is everything. Even the slickest pitch will fall flat if your prospect isn’t ready to buy. That’s where buying signals come in - subtle (and sometimes not-so-subtle) indicators that a potential customer is moving toward a purchase decision.
In this blog, we'll explore ten crucial buying signals that B2B businesses should be on the lookout for, along with the data points to track and how to gain comprehensive insights into lead behavior and intent.
What Are Buying Signals?
Buying signals are behaviors or actions that indicate a lead is moving closer to making a purchase. In the B2B world, especially with SaaS offerings, these signals aren't always obvious, and they don’t come announced.
Unlike B2C, where someone can just click "buy now," B2B deals are a bit more intricate, and leave subtle hints. That’s why tracking the right signals is critical.
Before we learn about these hidden signals, it’s important to know where they are sourced from:
- First-Party Intent Data
This data is derived directly from interactions prospects have with your brand. It includes website visits, content downloads, email engagements, and more.
Analyzing this data helps in understanding how prospects interact with your offerings and where they are in the buyer's journey.
How to Utilize:
➡️Website Analytics: Monitor which pages are frequented and the duration of visits to gauge interest levels.
➡️Email Tracking: Assess open and click-through rates to determine engagement quality.
➡️Content Management Systems: Track downloads and interactions with resources to identify topics of interest.
- Third-Party Intent Data
Collected from external sources, this data provides insights into a prospect's activities beyond your platforms.
It encompasses behaviors like reading industry-related articles, participating in forums, or comparing solutions on review sites.
How to Utilize:
➡️Intent Data Providers: Partner with platforms that aggregate user behavior across the web to identify prospects researching relevant topics.
➡️Social Listening Tools: Monitor discussions and mentions of your brand or industry to spot emerging interests.
➡️Review and Comparison Sites: Keep an eye on platforms where prospects compare solutions to understand their evaluation criteria.
Combining first-party and third-party intent data offers a holistic view of a prospect's journey, enabling more personalized and timely engagements.
- Firmographic and Technographic Data:
Combining firmographic data (company size, industry, location) with technographic data (technology stack used) can provide powerful context for interpreting buying signals.
12 Hidden Buying Signals B2B Businesses Need to Look For:
1. Recent Fundraising Activity
Companies that have recently raised funding are often in growth mode, meaning they have budgets to invest in new tools, services, or technologies that can help them scale.
Data to track: Use platforms like Owler, Apollo, or Crunchbase to monitor funding rounds and target companies that align with your solution.
2. Open Job Postings Related to Your Solution
If a company is hiring for roles that align with your offering (e.g., hiring a RevOps lead if you sell sales enablement tools), they might be looking for new solutions to support that function.
Data to track: Monitor job postings to identify businesses preparing to invest in new tools.
3. Lack of Dedicated Team for a Key Function
If a company lacks an internal team for a function that your solution automates or streamlines, they might be a prime candidate for your offering.
Data to track: Identify companies with gaps in specific roles by analyzing LinkedIn team structures.
4. Lookalike Companies Based on Best Case Studies
Targeting companies that resemble your best customers in terms of industry, size, pain points, and behavior can help you identify highly relevant leads with a high probability of conversion.
Data to track: Analyze past successful customers and use AI-powered prospecting tools to identify similar companies.
5. Exceeding Free Usage Limits
Prospects who consistently hit the ceilings of a free plan demonstrate a growing reliance on your product. This behavior indicates potential readiness to upgrade to a paid tier to access additional features or capacities.
Data to Track: Frequency of reaching usage limits, attempts to access premium features, and feedback on limitations.
6. Recent New Hires in Key Roles
Newly hired decision-makers often bring in new strategies and vendor relationships. If a company has recently hired a VP of Sales or a CMO, they might be evaluating new solutions.
Data to track: Track new hires through LinkedIn Sales Navigator or company announcements.
7. Buying Intent Signals on Third-Party Platforms
Some platforms, like G2, Capterra, and LinkedIn, provide insights into what companies are researching and reviewing. If a prospect is actively looking at solutions in your category, they’re likely in the market.
Data to track: Reviews left on competitors' pages, discussions in LinkedIn groups, or software evaluation platforms.
8. Headcount Growth Spikes
A rapid increase in employee headcount signals company growth, which often leads to increased budget allocation and technology adoption.
Data to track: Monitor LinkedIn headcount trends and hiring patterns.
9. Engagement with relevant LinkedIn groups and events
Prospects actively engaging in industry-specific LinkedIn groups, events, or posts related to your solution indicate a high level of interest in the space.
Data to track: Monitor engagement on LinkedIn and use Sales Navigator to identify active participants in relevant discussions.
10. Shared Investors or Advisors
Companies backed by the same investors as your existing clients may be more likely to trust your product based on shared networks and credibility.
Data to track: Use Crunchbase or Owler to track shared investors and leverage mutual connections in outreach
Bonus: Look for Increased Social Media Engagement
Liking, sharing, or commenting on your LinkedIn posts, especially on thought leadership or product-related content, is a sign that a prospect is paying attention.
Data to track: Social media mentions, DMs, comments on industry trends, and connections with multiple team members.
Now that we know what to look for, how can B2B businesses effectively track and analyze these buying signals?
How to Track Buying Signals Effectively?
✅Integrate Multiple Data Sources: Combine data from various sources to create a comprehensive view of potential leads and their buying signals.
✅Monitor Social Listening Tools: Using tools like Brandwatch, Hootsuite, or LinkedIn Sales Navigator can help track mentions, comments, and discussions around your brand and competitors
✅Develop a Multi-Touch Attribution Model: Understand the impact of different touchpoints in the customer journey to better interpret buying signals.
✅Continuously Refine Your Approach: Regularly analyze the effectiveness of your buying signal tracking efforts and adjust your strategy based on the results.
Remember, the key is not just to collect data, but to use it intelligently to inform your sales and marketing efforts.
As you fine-tune your approach, you'll find that recognizing and acting on these signals becomes second nature.
Your sales team will be better equipped to focus their efforts on the most promising leads, ultimately leading to higher conversion rates and more efficient use of resources.
To conclude, don’t waste time on lukewarm leads. Instead, focus on prospects displaying clear buying signals. This will help you close deals faster and more efficiently.