Data is one of the most crucial factors while framing a marketing strategy. Furthermore, there are different types of marketing data that companies need in order to deliver better services, improve sales, etc. Companies can take help from a database provider to receive critical information.
In this article, we will discuss the types of data that B2B database providers offer that can help in creating better marketing strategies.
In order to plan a good marketing strategy, data is a crucial factor. This data can help the company to understand its customers and prospects better, thereby helping the company grow.
What is a B2B Marketing Database?
A B2B database is a collection of data offered by database providers. This collection has information about potential buyers. The company needs to ensure that the data they use to plan their strategies should be of high quality. A good B2B database can help companies with their outbound sales. Furthermore, while selecting a B2B information service provider, a company must look for a provider that offers data enrichment services.
How is B2B Data Collected?
Primarily, there are 2 sources that B2B database providers use to collect Indian company data–
- Public Sources
Websites, news articles, MCA registry, EPFO, etc. are a few public sources which database providers use to gather information.
- Private Sources
Database providers receive information from private sources, such as internal data collection teams, platforms for business information sharing, etc.
What Are the Crucial B2B Data Points?
Some of the critical B2B data points are-
- First Name
- Last Name
- Company Name
- Business Phone Number
- Business Email ID
- Business Identification Number
Data Types of B2B Marketing Databases
- Firmographic Data
Firmographic data is one of the most crucial information that companies need to have to create a good marketing plan. This data provides details, such as company name, industry, company location, company revenue, etc. This is useful when understanding the market opportunity.
- Demographic Data
Demographic data can consist of names of the customers, their age, email ID, phone number, location, etc. This is the information that every organisation needs while planning a marketing strategy.
- Chronographic Data
Chronographic data provides information on the changes that have happened. It can consist of the location change, company funding, etc. Database providers offer chronographic data by sending regular notifications. This helps a company tweak its marketing strategy to make it more effective.
How to Select a Good B2B Database Provider?
While researching good B2B database providers, look for a provider that has a good word of mouth reputation. It is recommended to select a reputed information service provider.
The company needs to ask the database provider when the data was last validated. Also, they must make sure that the database provider is compliant in its data collection process.
While choosing a database provider, a company must make sure it is buying the data it needs. A lot of times, companies purchase data that isn’t required. Also, the entity needs to ensure that they don’t receive bad data. Bad data can consist of wrong email IDs, wrong company numbers, wrong names, etc. This results in wasted time and efforts. This can be avoided by using a provider that regularly refreshes its data.