Introduction
What is B2B data? Business-to-business (B2B) data refers to any information about other businesses that includes company identifiers, funding, revenue, and other metrics. Firms use B2B data to improve their understanding of other businesses, enhance decision-making, generate business opportunities, and assist marketing and sales teams.
Benefits of B2B Data
B2B data is primarily used to fuel marketing and new sales strategies or processes. Companies leverage this quality data to generate more business opportunities, improve lead generation, and enhance market research, among other things. B2B data mostly consists of firmographics, technographics, people/contact, and intent data.
Firmographics
Firmographics refer to the characteristics of a business that can be used to segment and target customers. This includes information such as company size, industry, location, and revenue.
Technographics
Technographics refer to the technology stack used by a business. This includes information such as the software and hardware used by a business, as well as the vendors they work with.
People/Contact Data
People/contact data refers to the information about the people who work at a business. This includes information such as job titles, contact information, and social media profiles.
Intent Data
Intent data refers to the signals that indicate a business is in the market for a particular product or service. This includes information such as search queries, website visits, and content consumption.
Sources of B2B Data
B2B data sources can be sorted into two groups: internal data and third-party external data. Internal data is usually collected by the company itself whereas third-party data is collected from providers.
Internal Data
Internal data is usually collected by the company itself. This includes data from customer relationship management (CRM) systems, website analytics, and other marketing channels.
Third-Party External Data
Third-party data is collected from providers. This includes data from business information websites, employee data sources, review sites, and technographic data sources. Data providers can provide businesses with demographic data and company information scraped from public websites.
Conclusion
B2B data is a powerful tool that can help companies create more effective and personalized marketing campaigns. By analyzing customer data, companies can gain insights into their behavior and preferences, and create marketing messages that are more likely to resonate with them.
This can lead to higher engagement rates, increased customer loyalty, and ultimately, higher sales. However, it is important for companies to have the right tools and processes in place to collect, analyze, and act on this data effectively .
In conclusion, B2B data is a valuable resource for businesses looking to improve their marketing and sales strategies. By leveraging the power of data, companies can gain insights into their customers and create more effective and personalized marketing campaigns.
Whether you are collecting data internally or using third-party data providers, it is important to have the right tools and processes in place to collect, analyze, and act on this data effectively. With the right approach, B2B data can help businesses generate more leads, close more deals, and ultimately, drive growth and success.