Given the massive time and effort involved in creating a marketing database from scratch, most B2B businesses prefer outsourcing. But when every B2B data provider makes a similar claim of providing high-quality databases, it can be a tricky situation. Also, what might be a suitable database for one business might be completely unsuitable for another business. Hence, ample scrutiny is required to make this sizeable investment worthwhile. The following tips should be considered before striking any data collaboration deal:-
Top B2B Data Providers provide Holistic Enterprise Data
The biggest trait that demarcates the top B2B data providers from mediocre ones is their wide range of data points. For instance, intent data focuses on tracking the online behaviour of prospects, including social media activity and website browsing patterns. It ascertains their preferences and interest in a particular product or service. Similarly, opportunity data is provided by top B2B data providers to indicate the right time to approach a potential client. Segmentation data is yet another database variant to figure out the right product/service and market fit.
Opt for Specialized Database Management and Analytics
Out of the numerous SME database providers in the market, many are brokers and resellers. They are not database specialists. Hence, buying from them can be cost-effective for businesses but the lack of updates/maintenance will lead to rapid data decay. Opting for full-fledged database experts will provide the additional benefits of database validation, regular updates, and analytics-driven insights.
SME Database should be aligned with the Business Goals
Organizational business goals differ from business to business. In particular, the sales and marketing requirements are highly subjective. Businesses need to figure out their requirements in terms of the industry coverage provided, the filters, features, and add-ons. The listed prospects should adhere to the ICP which needs to be aptly defined by the marketing team. The integration capabilities of the database with the existing sales and marketing software should also be analysed.
Ensure Authentic Data Sources and Exclusivity of Circulation
The lesser the circulation frequency of the database, the higher the chances of evoking a positive response. To check whether the data sources are legitimate, businesses should always request documented business proposals. This must include their method of data collection, assured compliance with privacy regulations, database security features, and so on. Getting a free trial or a database sample before availing of the subscription is equally important. Businesses can get relevant samples from prospective vendors and compare them to make the final choice.
All B2B businesses aim at systematically identifying and targeting qualified prospects, connecting with them, and nurturing them to drive conversions. The fulcrum of these endeavours is the right marketing database. Keeping this in mind, the job of a database vendor is not just to provide contact information. Rather, it is to deliver holistic solutions that facilitate this entire process of identifying, targeting, and connecting. Ensuring data regulations compliance and automated maintenance is also a mandatory requirement. Outsourced databases that fulfil the aforementioned parameters can reinvigorate B2B sales and marketing for assured results.