Data is essential for understanding every aspect of modern business, from lead generation and email marketing to customer relationships, sales enablement, and revenue growth. So, global leaders need high-quality B2B data to make informed decisions. B2B data contains various concepts and practices, is collected from multiple sources, and is very important in developing market strategies.
What is B2B Data?
B2B data is business-to-business information on potential customers that can be used to drive sales and marketing efforts. For example, B2B data covers the contact details of companies and their employees. You can access direct contacts of global companies to link up with the best prospects. B2B data covers the following information:
- Company information
- Employee information
- Contact list of sales leads and key decision-makers
- Location data
- Market and competitor data
What is B2B Data Used for?
For sales and marketing teams, gaining complete knowledge of potential customers is vital for campaign success. Quality B2B data helps them reach targeted prospects and build long-lasting relationships. Here’s a list of some important areas where B2B data is used.
- Finding Hot Prospects: When it comes to finding the right prospects, sales and marketing teams use B2B data to do market research. On a larger scale, the research can be used to gauge the total addressable market (TAM) and construct detailed ideal customer profiles (ICPs). The data can also be used in sales enablement, giving reps the information they need to engage with prospects.
- Outbound Sales: B2B data contains information on prospects that helps professionals close the leads. As leads hit the required criteria and enter the funnel, sales teams can use B2B contact data to make the first move.
- Personalized Analytics: B2B data is also useful for personalized analytics, where outreach is tailored to specific individuals. And predictive analytics can use machine learning algorithms that are trained on real-world information to anticipate customer behavior.
Types of B2B Data
B2B data is basically categorized into:
Company Data
- Firmographic data includes the name, size, and industry of the company, number of employees, annual revenue, and locations of the company.
- Hierarchical information includes level-wise data on employees.
- Tech profiles include website information on the company with details of what software & tools, the company uses.
Prospect Data
- Information on the company’s departments
- Tenure of employees
- Email, and sign-up information
Contact Data
- Employee data covers name, job title, department, and location.
- Direct phone numbers, email addresses, and LinkedIn URLs of employees
- Company roles of employees
Sources for B2B Data
Both internal and external sources are necessary to collect B2B data.
Internal Sources
You can collect B2B data internally through your everyday operations including customer service records, marketing automation, and CRM and sales databases.
External Sources
External sources like SalesFuel, a leading B2B data provider are more beneficial than internal sources as the company provides complete information on global businesses including contact details of their employees. SalesFuel also provides an extension that you can add to your Chrome browser and access crucial B2B contact data seamlessly.
The Importance of Reliable B2B Data
For diversifications of goods and services– With the B2B data, it has become easier for a company to look at other aspects of business without limiting its business module to certain a sector of an economy.
Establishing a business community– In the B2B process, one company’s growth is considered as the growth of its associate partners. It means, that if one has registered a growth, then the partner of the company or the associate members of the supply chain will get the direct benefit of the company’s growth. B2B data is useful to build and maintain business connections.
Entry of New emerging market– The market glorifies the demand need and presents them through a picture of illusioned demands to their customer with the help of various methods, this method may include both direct and indirect ways of communication.
Don’t only rely on internal data sources and get B2B data from a reliable external source like SalesFuel. The company provides the perfect coverage and accuracy of data. When you collect B2B data, you should check the authenticity of the data.
