Last Updated on February 28, 2023 by Hassan Abbas
B2B data is the biggest determinant of successful sales, marketing, and CRM. Insightful data on the ICP (Ideal Customer Profile) is mandatory for businesses to identify, nurture, and convert prospects seamlessly. B2B databases can be researched and developed in-house or outsourced by database experts. Either way, it is important to apply data analytics and derive relevant, actionable insights to helm customer-centric marketing campaigns.
Insights from the Best B2B Data Providers
Considering the enormous time and resources required to collate B2B data, most businesses today are keen on outsourcing. It doesn’t just save time and money but also provides an extra edge. The analytics prowess and database maintenance expertise of professional B2B data providers are unmatched. Above all, they will guide the business in the right direction with customised sales intelligence and data-driven marketing acumen.
Using B2B Data to Identify, Target, and Convert the ICP
Drawing the Ideal Client Profile–
B2B marketers have the vital job of enlisting the ideal client profile in detail. The B2B model involves businesses selling to other businesses. So having concrete data on prospective buyer companies is a must. Simultaneously, it is necessary to contact the right professionals working in the target company. These key decision-makers could be purchase managers, department heads, or CEOs. Hence drawing the ICP involves listing the necessary data points at both the company and contact levels.
Collecting the Right B2B Data Points–
As mentioned above, the organisational details of prospects are necessary to identify and target them. These include the company’s ownership, registration, address, contact details, operational status, and turnover. Precision-based data points also include the business turnover, employee framework, spending capacity, and tech stack in current use. At the individual level, the data points required include their names with job titles, responsibilities, location, and contact details. Businesses should always request direct contact details (mobile number, email, and LinkedIn details) instead of landline/generic numbers.
B2B Database Categorization–
B2B data providers specialise in providing various kinds of databases. Businesses need to choose the categories they require depending on their marketing requirements. It is always wiser to opt for a tailored or on-demand database instead of a generic one. Demographic data covers individual points like age, gender, location, educational qualifications, etc. Crucial firmographic aspects cover the target company’s structure, performance, legal, and financial data. If a B2B business is selling tech solutions, it must compile high-quality technographic data on prospects. It would cover the prospect’s monthly tech expenditure, current platforms, apps, tools, and software.
Data-Driven Market Segmentation-
Opting for the right database categories per their product/service profile and marketing requirements is necessary to conduct market segmentation. Today’s most successful B2B businesses rely on big data and AI to conduct accurate market segmentation. Setting the right database filters can help with geographic, demographic, psychographic, and behavioural segmentation.
Accurate Sale Prospecting–
B2B data helps businesses estimate their total addressable market. Once the market scope of a particular product or service is known, relevant database filters can help automate sales prospecting. Eliminating unqualified prospects and highlighting top-priority ones helps businesses focus on the right leads. Also, the time-consuming manual process of sorting and scoring leads is replaced with a highly efficient, AI-driven system.
Using B2B Data for Account-Based Marketing–
Accurate sales prospecting enables businesses to drive higher conversions. Reaching out to high-potential and warmed-up prospects with personalised marketing messages is far more effective than cold outreach. Key accounts management involves enlisting a set of important target accounts. A holistic B2B database enables marketers to identify such accounts and craft suitable, personalised marketing campaigns to target them. Both sales and marketing teams can collectively work on pursuing and enticing these key accounts, thus speeding conversions.
High-quality B2B data is integral for B2B marketers to find the best business profiles/prospective clients to pursue. A successful sales outreach program relies on effective lead segregation and scoring. After AI-driven prospecting of the B2B database, the best sales personnel can be deployed to nurture high-value leads. Leads can be meaningfully and consistently engaged till conversion with the latest intent data and competitor analysis. Thereon, CRM databases can be harnessed for effective retargeting and reselling. Hence, B2B data drives the entire sales and marketing cycle from end to end.