What is business data?
B2B data or business-to-business data is information that is used to power marketing and sales campaigns. It includes things like email addresses, company and employee names, technographic and firmographics. Essentially, any information that can be used to get in contact with what qualifies as a good sales lead. B2B data enables a company to create segmented lists of contacts that a sales team can use to grow a lead pipeline.
B2B data can be used for a range of activities including:
● Account-based marketing
● Cold outreach
B2B data types
To utilize b2b data effectively, you need to know the different types of business-to-business data you can use. Using the right form of B2B data depends on your product and target audience, among other things. Some different types of data include account data, technographic data, engagement data, firmographics data, and B2B contact data.
Technographic data is information about a company's technographic use and profile. Technographic is the presenting participle of target accounts based on what technology they use. It adds depth to potential profiles based on firmographics. Technographic data is commonly used by B2B sales and marketing teams to further their understanding of their competitors, potential leads, and clients.
Firmographic data are different forms of data that are used to categorize companies such as type of organization, geographic location, industry, technology, and the number of clients. This information is used to organize different organizations into useful categories.
Engagement data measures the response of interactions from your target audience including social media reactions, shares and comments and time spent on your website
Contact data enables you to know who the decision-makers are and how you can contact the people who will be beneficial to increase your marketing and sales potential.
Accounts- based marketing or accounts data is used to target the right people in the right accounts. This ensures your company has up-to-date and accurate business marketing information. Account data uses tailored campaigns to generate leads based on the assumption that decisions in buying are commonly made by a group of people rather than the individual.
The collection of Business-to-business data
Now you know the types of B2B data, you need to know how it is collected. All of this will help you to utilize your business-to-business data to ensure you receive the maximum potential for your organization.
Data collection starts by combining what you know and researching the sources to support it. Internal data, another form of B2B data, originates from billing systems, and CRM tools. From here, businesses can purchase external business databases to solidify their understanding and gain insight into their potential customers.
Define an end goal
It is really important to determine what your end goal is as this will define the type of business to business data you need. For example, if your goal is to understand credit scores, you will need a different type of data compared to a business looking for new qualified leads.
Once you have a firm understanding of what B2B data you need, you can then supplement the information you already have with information supplied by a relevant Business-to-business data provider.
Assessing B2B data quality
If you do not have a good quality B2B data source, you will lose out on potential progress. Having high-quality business-to-business data is fundamental and essential for any business.
Buy from a reputable provider
Always aim to buy your B2B data from a recognized and reputable source. A good source of B2B data will have many happy customers and follow the GDPR. You can ask your data provider to share a list of reference customers with their contact information. You need to ask yourself these questions when assessing if your B2B source is good quality:
● Is the information up-to-date?
● Are there any issues with firmographics?
● Are there any issues with technographic?
● Do they follow GDPR?
● What are their customer reviews?
Reputable data providers will ensure their B2B data is updated, cleaned, and validated to improve your ROI. You can also ask the provider for a sample set of data that you can use to test in the environment before agreeing to any contracts or legal documentation. In regards to contracts, if your provider is reluctant to provide one or has not issued you with a final draft that you both agree on, do not sign it and look into the authenticity and legal standing of the contract and provider.
Questions to ask your provider
● Before using B2B data and utilizing it for maximum benefit, ask your providers questions, and cover every base to ensure you receive the right data to benefit your organization. Here are a few questions you could ask:
● Does the business-to-business data system validate emails using relevant and up-to-date tools?
● How do you collect the B2B data?
● Does the B2B data remove inaccurate and duplicated data that already exist within your database?