Data is the new oil. Data is one of the important assets for any organization as it helps them to effectively analyze & bring a solution for problems. The data provide a higher level of visualization to understand what is happening across different location & departments within the organization. Generally, B2B data are an enterprise-focused model which comprises of information to improve sales & marketing campaigns. B2B marketers can make the best use of such data to target audience meticulously & promote their products.
There are different types of B2B data providers. As a pioneer in B2B database service providers, we would like to share our thoughts on the same. So here are a few points to be taken into account while going to do b2b data purchase for your B2B marketing campaigns.
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You should be more inclined towards a data-oriented solution.
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Make sure your B2B providers give other Data enrichment services including data appending, cleansing & integration.
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Make sure you pay only for details you take
As per the survey conducted by Salesforce in 2018-2019, more than 50% of the sales representatives spend more time in finding the right information for initiating business conversation. Hence at Data Marketers Group, we believe that data is the backbone of any b2b campaign, including offline & online activities. Ideally, a business partner should be able to work with you comfortably rather than just being the contact information provided.
So, here are certain easy steps to choose the right B2B data provider while you are opting to do b2b data purchase for your company.
Analyze & define your Lead Generation Process
The first & foremost step is to brainstorm within internal stakeholders, sales & marketing team to set up your own lead generation process for your business. Build a lead generation process to capture all relevant information about new leads & prospects are captured. This gives a clear idea of the most preferred communication channel of prospects. Hence finalizing lead generation process will give a board picture about how your B2B data partner should align with your business process based on a niche.
KPI’s to measure your Return on Investment
Defining KPI metrics for any process will let you know measure & understand the number of efforts required to build a cost-effective contact database. It helps in evaluating how your goals are understood by B2B data providers & how effectively prospect’s information are available & consumed by you. Based on your business goals procure details & monitoring their KPI’s will help increase your performance indicators.
Cost Calculation
The Cost comparison is one of the main attributes to determine if B2B data providers to be built in house or outsourced. There are several parameters including requirement per day, tools used, number of calls to be taken per day, monthly/weekly budget, email bounce rate, average deal size closed & more. Based on these use cases we can decide how effectively B2B data are required for the business.
Fit & Opportunity Data
Your B2B data providers must categorize list based on key attributes which create new business opportunities when a marketer intends to develop a business relationship with prospects. As the name suggests scoring activities can be carried out marketers to segment prospects well suited to be in your customer base. Thus, you can get perfect data that fit into your B2B campaign & improve revenue.
Brokers or Resellers
This is one of the important categories of B2B data provider who act as a middleman between actual buyers & data sources. Generally, brokers collate data from different sources & resell to customers. They try to make an ample amount of profit through this. If you look for niche-based marketing, then brokers or resellers would be the perfect choice as they provide the most relevant contact aligned to your business goals.
Factors to Be Considered While Choosing B2B Data Buyers
Accreditations & Customer service
Look for data providers who registered with the Data Protection Act & direct marketing association. Please have a close look at how various data is collated from trusted sources in an ethical manner. The second most important thing is customer service after your purchase list. B2B data needs to be refreshed or data appending services should be given over the regular span of time to make B2B data is most recent & reliable for the campaign. This guarantees your business data providers have proper information intended to reach prospects via direct mails or phone calls.
B2B statistics you need to know while choosing a data partner
Business data is crucial for any B2B marketing success. To refine your search to select a perfect data partner. We understand B2B data purchase is one of the costly investment for marketing. Hence, do better research to ensure your whole sales team is clear about your business goal as is it directly impacts organization investment & sales target.