With navigational intent, the user has already decided which website they want to reach before they search; they just need a little help from the search engine getting there. That's why these queries tend to look like a targeted search term rather than a full URL typed into the address bar (searching "facebook" instead of typing facebook.com, for instance). It's quite difficult to compete with the website a navigational query is actually aimed at, but of all the intent types, navigational queries are the easiest to read.
For most businesses, navigational queries matter less as an acquisition opportunity and more as a defensive one: making sure a company's own branded searches, its name, its product names, actually lead straight to its own site rather than to a competitor bidding on that term in paid search, or to a third-party review site outranking the brand's own page. A weak or missing presence on a brand's own navigational query is a bad sign either way, since it means the site is losing visibility on searches it should, by definition, win without much of a fight.
