What is the Essential Data That Benefits Your B2B Business?

Accurate insights including business email lists, profile visits, website browsing time, industry, etc. are included in the business data to create an efficient B2B marketing database. With the advancement in technology, the sales and marketing department also need to level up their game and modern data is the key to it.

There are many reasons as to why the marketing teams require a fundamental B2B database. Many times prospects give inaccurate contact details, purposely or accidentally. Moreover, the general data often becomes out of date due to employee turnover, business close, move or shut. These conditions can hamper the effectiveness of the marketing team leading to situations such as sending emails to deleted accounts or calling disconnected phone numbers. Consequently, resulting in waste of time, efforts and funds!

Type of data

A puzzling list of contacts is certainly of no use to any company. Therefore, modern data technology not only includes business email lists but also firmographic, technographic, and other kinds of detailed information. The marketing campaigns that use definite and detailed data lead to an increase in conversion rate, thus increasing sales. Before hiring the right service provider or investing in any online platform for a vast and customised business database with a global reach, let us first understand the basic types and functions of business data.

The following are the types of B2B database that a marketing and lead generation team of any company can use to increase sales:

Opportunity

Opportunity data helps to figure out favourable conditions. Some of the conditions that this business data covers are hiring, promotions, layoffs, partnerships, leadership changes, product launches, or the right time or season. Aren’t we all often left with the question, is this the right? Of course, the dilemma is troublesome for most clients.

All of these insights help the company in hosting new rounds of funding, shake-ups in C-suite and move on to new moves or mergers and acquisitions related to the company. It also includes other signals that reflect favourable conditions for sale for the organization. Opportunity data is known as the opportunity signal in the business database that helps the company identify the right time to take action to increase their sales.

Intent

Intent data is capable of analyzing the purpose of all the target accounts in the contact list. Thus, helping the B2B company figure out whether or not a contact can be categorized as good-lead-account. In other words, we can say that intent data spots the behavior of the buyer. The information is extracted from the online subscription to newsletters, webinars attended, case study downloads, product reviews and website visits along with time spent by the user or ‘contact’ in this case.

A few insights that intent data includes are social media activity, ad clicks, keywords used, or topics the account has been recently searching for. These insights can be added to the existing business database without studying rigorous search results and go through social media platforms, forums or service websites.

Fit

Fit data consists of the different ways of segmentation and scoring new prospects, also known as technographic data and the accounts are often called firmographic data. The fit data includes demographics such as location, age, job function, contact data, and company profile. 

The firmographics include tech sack (technographic data), budget, industry, size and revenue of the company. As the name suggests, fit data can define if the organization or contact is a good fit. It is static in nature but can certainly spot what a ‘good lead or fit’ for the organization. As each organization has different areas that they focus on before defining something as ‘best,’ the specifications could be categorized on the basis of the size of the contract, longevity, or the satisfaction scores.

Boost the sales and marketing initiatives with customized data as per your industry and see the positive changes in ROI and brand awareness, driving leads and engagement with tech-powered database.

Go for an online platform that provides 24/7 access to a vast business database used to increase business email lists or turn cold-calling campaigns effectively promises access to +59 million leads. The platform needs to be your go-to destination for many industry leaders who wish to drive their business growth through Leadiro’s B2B database which is equipped to solve challenging sales and marketing problems.