As a business owner or salesperson, you’re always looking for ways to improve lead generation and the sales channel, aren’t you?
Well, we have something to tell you:
Working with a B2B data provider is the big solution!
That’s it, it will help you reach new potential customers and extend your business.
But, how to choose the right B2B data provider for your needs?
Well, rest assured, in this article we will try to cover everything you need to know about B2B data providers. Starting with when you should work with one to how to choose the best one for your company.
So let’s get to the nitty-gritty!
What are B2B data providers?
B2B data providers are companies that offer access to their lead databases or potential clients, which include company contact information.
These databases, as you guessed, can be used for several purposes, such as marketing, sales, and business development.
The types of data provided by B2B data providers may vary, but they usually include basic contact information such as names, company names, charges, phone numbers, and email addresses.
In addition to basic demographics, many B2B data providers also offer more filtered data points that are segmented by business, technographic, and intent characteristics.
This may include information about the size of the company, the sector, the location and the technologies you use or are interested in.
Some suppliers also can offer behavioral intent data, which is a series of data related to the state of purchase of a contact or the chances this one has of making a purchase.
Types of data sources
B2B contact database providers normally use a combination of first-party data and third-party data to create their databases and B2B contact lists.
First-party data is information that customers provide directly or passively to businesses, through interactions such as website analytics or purchase history.
Third-party data is information that customers actively provide directly to businesses through explicit means, such as registration forms or surveys. Zero-party data is information that companies collect and then share with one another, while third-party data is information companies collect from sources outside their direct interactions with customers.
When evaluating B2B data providers, it is important to consider the sources and accuracy of the data they use.
While some vendors may specialize in zero-party data, many others rely more heavily on third-party sources.
It is also important to note that third-party data is often considered less reliable and accurate, as it is not obtained directly from the source.
Specialization in sectors and services
B2B contact database providers are usually specialized in a specific sector or geographic region.
For example, some vendors may have millions of contacts in B2B technology industries with IT, security, Cloud, and engineering functions, to name a few.
Of course, it is important to consider a provider’s industry and service specializations when evaluating their services.
Suppliers can also offer additional services such as campaign planning and consulting, i.e. request generation services to fill the pipeline.
Some even offer a set of business tools, such as sales engagement platforms or CRM tools to help you operationalize the data they provide.
When should you work with a B2B data provider?
The time has come to answer such a question.
We know that access to accurate and up-to-date data is crucial when making informed business decisions.
While it’s possible to collect this data on your own, working with B2B data providers can save you time and resources, as well as providing you with access to a wider range of data.
But, when is the right time to turn to a B2B data provider?
Here are some cases where working with a data provider can be beneficial for your business:
- When you reach your database saturation: You’ll know this when your current database no longer interacts effectively with your campaigns.
This suggests that your old contacts actually don’t fit with what you offer, regardless of the reason, the solution would be to find a fresh new contact database.
- When you need to expand your reach: If you’ve reached your target audience, it’s time to move on to new markets or targets. This is where a B2B data provider can help you find new potential clients to extend your business.
- When you want to improve the quality of your potential customers: Working with a B2B data provider can give you access to more filtered data that can help you better sort out your potential clients and focus your sales and marketing efforts on the most promising opportunities.
- When you need to fill gaps in your data: If your current database is missing key pieces of information, such as emails or contact phone numbers, a B2B data provider can help you fill in those gaps and make sure you have a complete and accurate database.
Choosing the right B2B data provider for your business
Now that you know the benefits of working with a B2B data provider, let’s see how to choose the right one for your business.
Here are some key factors to consider when evaluating different vendors:
- Data quality: Data accuracy is key. Ask about their data sources, quality control processes, and what guarantees they offer about data accuracy.
- Data segmentation: Different providers specialize in different types of data. Make sure the provider you choose provides relevant data for your business and your target audience.
- Amount of data: Make sure the vendor has enough data to meet your business needs.
- Integration with your tools: Consider how supplier data can be integrated with your tools, such as your CRM, marketing automation, and sales engagement platforms.
- Customer service: Evaluate the vendor’s customer service team, hours of operation, and support options. The best option is a provider that covers your needs.
- Prices and contract terms: Consider the price and contract terms, as well as any hidden costs or minor commitments before signing.
All in all, working with a B2B data provider can be an effective way to improve contact generation and expand your business. However, it is important to choose the right provider for your needs, based on factors such as data quality, segmentation, quantity, integration with existing tools, customer service and price.
By evaluating these factors, you’ll be able to find a supplier that meets your business needs with ease and helps you achieve those sales and marketing goals you crave.