31st Mar, 2021
Marcom, , Designation
- Intent data provides richer information to power up the sales pipeline and give direction to the sales team
- However, adding a new data source haphazardly is not feasible. You need to consider a few factors to evaluate B2B contact database provider before the big purchase decision
- B2B intent data needs to let you be agile enough to the fast-changing market and customer landscape and strengthen the decision-making process
- Moreover, the new source should be able to provide reps with highly accurate B2B contact data of only those prospects who are ready to make a purchase decision.
- It is important to assess the degree of specificness which the B2B contact data offers the sales team
Sales & marketing functions of every company are leaning on corporate database to power their demand generation campaigns and expand net new business. They are leveraging high-value prospect data to drive phenomenal gains in the form of conversions and sales. However, there is a flipside. Redundant & outdated data is impeding the ROI of many enterprises. Therefore, enterprises looking for a B2B contact database provider should review some features and capabilities critical for modern-day demand generation campaigns.
B2B database is not a necessity anymore, it is an existential need for enterprises. Read this blog!
The Basics of Intent Data
Customer data can be harnessed from various omnichannel sources. However, it takes a sharp analytic mind to convert these B2B prospects into high-fit prospects. It is important to focus on a demographic, firmographic, and technographic details. More than that, it is quintessential to determine which accounts are ready to push the purchase button. As a result, the sales and marketing team can narrow their focus on relevant leads and better leverage their time and efforts. When looking for a database service provider, enterprises need to keep a few factors in mind:
1 – Responding with agility
When you add data from various sources to your stack, you will see that by the time insight generation happens, the data might already be a bit old. The dynamics of the market, fast-changing customer preferences, and competitive landscape all come together to change the critical data types such as behavioral data. The B2B intent data needs to let you be agile enough to these changes. As a result, it will help you act with confidence. Your salesforce will react with the same speed as the level of insights and sales intelligence being generated by the data.
2 – Reducing the Clutter
Uncovering gold standard intent data will be a necessary task in order to reduce waste in your sales process. When you have ample data with you from the new intent data source, you need to ascertain whether it has the power to strengthen your decision-making process or bring about a change for the better. If the new data doesn’t help add substance or additional details of the client to your stack, you may have to rethink adding the source to your stack. This ability will help you really focus on what matters. This way it ensures a better sales pipeline.
3 – Adding to the topline
Adding to the intent data source stack will need to show a tangible benefit by augmenting the company’s revenues. You need to ensure that the purchase B2B data is actionable enough for marketing and sales teams to concentrate on business outcomes. This helps add more value to the sales pipeline and thus add to the revenues. When you add to the stack, be sure that the source will deliver this advantage to you.
4 – Generating highly accurate data
The sales team can generate more business wins when it gets contextual, timely, and relevant data. Simply adding any source arbitrarily to the stack with more sources won’t do the job. The data needs to empower the inside sales rep to get more value from every conversation. With a 1% chance of a callback, the sales rep needs to capitalize on every lead and contact. And this can happen only when he is presented with highly accurate b2b database of only those prospects who are ready to make a purchase decision.
5 – Adding depth to the data
Superficial B2B data won’t lead to rich information. When you add B2B intent data to the stack, you need to ensure that the new source provides rich information of every lead and every contact record. A good B2B database provider de-clutters records into a narrower group which shows a high affinity to purchase from the company. Since they will be nearer to conversion than others, it makes perfect sense for the entire team to channelize their efforts on these accounts.
As a result, the sales rep won’t waste time on leads that do not currently display purchase intent. Since now the rep knows that these types of leads will require lesser time to focus, and his productivity too will be better.
6 – Defining the degree of specificity of intent
Sales teams tend to be confused when it comes to prospecting with contacts that do not display a clear signal of purchase intent. They don’t get clarity on whether the contact needs to be pursued further or can be kept in parking for later action. Such prospects usually request more time to look at the material, evaluate one or more vendors, and then decide. These tasks cost time, and when time is a precious commodity for the sales team, it may impact their productivity too.
Planning to Build a Database? Don’t forget to read this blog, “How to Build a Marketing Database and Configure it for Success in 2021 & Beyond?
These 6 considerations can help enterprises in partnering with the right B2B contact database provider with a strong reputation of quality. Enterprises can get access to intent data for optimizing sales pipeline & strengthening the sales pipeline. This ability generates better business wins and reduces marathon sales cycles.
Get in touch with Denave database experts, add more momentum to your digital demand generation process by focusing only on those leads that actually matter to your topline.