When someone says business, most people think about B2C (business-to-customer) businesses.
B2C data gained a lot of attention over the last few years, especially when it comes to how other organizations collect, use, and store personal and sensitive data that belongs to specific people in real life.
But, countless businesses work with other companies instead of with individual people, making them B2B (business-to-business) organizations.
Understanding the use of B2B data is just as crucial for achieving maximum data management capabilities. Here, we talk about everything relating to B2B data you should know.
B2B data service
More about B2B data
First things first, let’s say something more about what B2B data is. It’s any form of data relating to other businesses instead of individual people.
There are numerous categorizations and types of B2B data that respond to different needs of different businesses. Therefore, B2B data can include databases important for lead generation, demand generation, analytics, outbound sales, the creation of your ICP (Ideal Customer Profile), and many other marketing and sales activities.
Understanding what kind of ICP will benefit your company the most is the foundation for using a B2B data service right. To create your ICP, you’ll need to consider the following parameters:
● Company data: the industry, size, and location of the company you’re targeting;
● Prospect data: department, job title, and tenure of your prospects.
Types of B2B data
Naturally, a single type of data doesn’t fit all B2B organizations. That’s why companies can choose from a wide range of B2B data types for their sales and marketing purposes. Here are some of the most popular ones.
Account data equips B2B organizations with the basic information about the companies they want to target. Company name, funding details, website traffic, CEO, and recent publications are just some examples of account data. With it, B2B companies can paint a clearer picture of businesses and decide whether they want to target them or not.
Contact data is just as important because it provides contact details needed to establish communication with people that work at the company you’re trying to target. Email addresses, phone numbers, and contact names belong to the elementary contact data you should have for connecting with other businesses.
With engagement data, companies can gain insight into previous interactions with a prospect. This includes previous online actions such as downloads, liked social media posts, or simply the total amount of time spent on the site. Opening emails and clicking on ads are other good examples of what engagement data entails.
Behavioral B2B data shows companies the intent captured via web usage. This type of data aims to identify interest or intent to purchase among companies. Thanks to behavioral data, you can receive information about the products or services the businesses are researching.
With so many different companies out there, firmographic data categorizes companies into groups. For example, B2B organizations can use the type of industry, company size, location, or revenue to segment companies and thus easily focus only on a specific group.
Sourcing B2B data
Now that you know more about the various types of B2B data, you’re surely curious about where you can source a B2B data service. While some data types are easier to obtain than others, here are some useful places you should check for B2B data.
If you own a website, it can be an outstanding source for B2B data. Being active on the website can attract many visitors, including companies that clearly show their interest. By keeping tabs on different
website metrics such as traffic source, volume, and conversions, you’ll easily come across companies that are interested in a partnership.
Social media platforms
Social media platforms hold an incredibly high level of relevance right now, so all companies have at least some kind of social media presence. B2B companies can use these platforms to reach and engage with their potential clients. Furthermore, different filters help B2B organizations personalize their messages and find out more about specific businesses.
Usage of B2B data
Why do organizations even need a B2B data service? Is it that necessary?
B2B data supplies companies with crucial databases that can help them make smarter and informed decisions. Since every business aims at converting contacts into leads and leads into sales, the necessity of B2B data can’t be underestimated.
Some standard B2B data usage methods include:
● Cold leads: reaching out to companies that have never engaged with your business;
● Warm leads: reaching out to companies that have heard about your business and maybe even shown some interest in it;
● Hot leads: reaching out to companies that have certainly heard about your company. These companies have also shown interest and want to do business with you.
The whole point of collecting, using, and storing B2B data is to bring awareness and enhance decision-making across organizations. Some key benefits of B2B data include:
● ABM (account-based marketing);
● Data analytics;
● Demand generation;
● Lead generation;
● Lead routing;
● Lead scoring.
In the times when industries are becoming increasingly competitive, businesses need to find appropriate methods and techniques to advance or simply stay on top. Thankfully, B2B data service offers companies working with other businesses everything they need for achieving that. If you own a B2B organization, it’s still not too late to begin with the B2B data implementation and use.