08th Nov, 2021
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- High-growth enterprises are leveraging advanced AI/ML led B2B prospect database to create more upsell and resell opportunities and maximise business benefits
- Here are some read real-world success stories
B2B sales and marketing is assumed to be more challenging than its B2C counterpart. However, with the right tools, resources, and expertise, B2B campaigns can help organizations achieve sustainable growth. The starting point of all B2B sales and marketing activities is a B2B customer data list that entails firmographic, demographic, and technographic sales intelligence.
But what all goes into this B2B database, and how is it used? Furthermore, what is the evidence that they deliver results? And most importantly, how are these databases procured from b2b data companies or providers? Let us find out.Â
What is a B2B database, and how does it help in getting the most out of sales campaign?
A B2B database is essentially a well-maintained and updated record of potential leads and customers in the business world. Ideally, it includes the name, contact information, and other relevant fields, like organization, role, and location, among other things.
All B2B marketing and sales efforts begin with an accurate and reliable B2B database of prospects, whether it is produced in-house or sourced externally. It is used to personalize the content of the outreach campaign and generating leads and sharpening the marketing communication. Content marketing executed using B2B database increases engagement and expedites conversions.
Most database managers collect data from varied sources, update it regularly, establish quality standards, and minimize data decay as much as possible. However, this is an intensive task, something that most organizations prefer to outsource to marketing service providers. Remember, collection, exchange, and sale of data for commercial purposes is governed by area-specific data laws and regulations.
Comprehensive database management services help run targeted and laser sharp campaigns with high conversion rates. With complementary marketing and sales capabilities, such service providers offer a winning combination of result-oriented services for multiple business objectives.
B2B database marketing and sales: Four benefits and successful collaborations
End-to-end program and process management
Result-oriented, efficient, and comprehensive B2B marketing management models ensure that each step of the campaign is planned well in advance and the data is recorded accurately.
Case Study: A global tech leader was struggling to standardize its resource management model and align it with the targeted geography. By collaborating with the right partner, the organization was able to solve the challenges of customer contactability, database cleaning, revenue claim duplicity, pipeline creation, and centralized reporting. As a result of this unique model, the South-Korea based client was able to generate USD 1.6 million in the first quarter of the pilot program. Thus, there was a measurable result, and the pilot was scaled up to a full-fledged program. You can read more about it here.Â
Higher data accuracy and targeted customer acquisition
An accurately profiled, standardized, and validated B2B corporate database provides a two-fold advantage â it fuels the pipeline with sales-ready leads and also helps in personalizing the marketing communication. However, it is important to ensure that database is actively maintained, updated, and sanitized as more accurate and relevant B2B data list leads to lower error rates. Comprehensive information on prospective clients, makes it easier to undertake hyper-focused customer acquisition campaigns as per target audience, i.e., industry, geography, role, or seniority.
Case Study: A leading software enterprise generated hundreds of quality leads with a high degree of accuracy and sophistication through a focused B2B telemarketing campaign. Similarly, a leading US-based software company saw an increase of 75% in the adoption rates of its cloud-based product. These projects were successful due to the utilization of accurate, reliable, and relevant B2B databases and expertise in B2B marketing. Read the full case study here.
High conversion in niche markets
B2B enterprises often struggle to generate leads and demand in niche categories of products and services. Due to market conditions, industry limitations, or regulations, it becomes challenging to implement B2B campaigns with accurate data. Marketing agencies and service providers enable B2B and B2C enterprises to enter new markets, generate quality leads, and ensure high conversions even in the most niche domains.
Case Study: An industry leader in the tech space wanted to increase demand for a very specific and unique Human Capital Management (HCM) product and generate BANT-qualified leads. By building an extensive database of Human Resource professionals, the appointed marketing partners overcame the challenge of missing data and targeted them with end-to-end sales closure specialists and experts.
Simultaneously, the team executed a multi-approach engagement strategy with the identified leads to cultivate a positive association. As a result, the campaign was able to generate more than the target number of leads, worth nearly USD 1.7 million in just three months. You can learn more about this project here.
Successful lead and demand generation
The objective of all sales and marketing campaigns is to acquire new customers, increase revenue, generate leads, and sustain demand. However, focusing on all these aspects simultaneously is no mean feat, especially if the resources or expertise is limited. Thatâs one significant reason why businesses from all over the world commission organizations to undertake massive lead generation programs. Their well-established processes, laser-focused results, and specialized teams work dedicatedly to ensure client success.
Case Study: One of the largest computer software companies used tele-engine marketing to generate demand and resulted in an increase of 35% adoption of their products. Similarly, intelligent database and telesales campaigns have helped one of the largest cloud service providers to generate a pipeline value of USD 5.6 million. Expert-led service providers also offer proprietary whitespace database recovery platforms that help acquire relevant leads, and our in-house developed tools help simplify workflows.
Tips for choosing the right B2B database provider
To gather actionable and measurable data, enterprises often rely on third-party B2B database service providers. However, these database vendors can suffice the purpose only if they understand and fulfill a company’s specific needs and business goals. There are a few basic parameters on which enterprises can evaluate the vendors and select the best among them:
- Experience and training: The most important thing is to evaluate how the vendors handle the data, their experience in database management, and their proven track record. Enterprises must make sure that the partners are trained in data protection and privacy policies. They must also be well versed with the GDPR and privacy laws of different markets.
- Data accuracy: The b2b customer database decays at a rate of 15-20% every month. Hence, enterprises must evaluate the accuracy of the data before finalizing a vendor.
- Data maintenance policies: Enterprises must also look into the data maintenance policies of the vendors. When was the date last updated, sources and methods to update the data, and whether the data adheres to antispam laws are key questions to ask the vendor.
- Data hygiene practices: When an enterprise invests in a third-party vendor, they expect the data to be clean, enriched, and actionable. From a deduplication engine to data standardization and validation, there are a host of services that enterprises must look to have in their choice of database service providers.
- Data profiling services: One of the pre-requisites for hiring an outside data vendor is whether or not they do depth profiling of the databases. The data must be profiled to obtain relevant insights and information matching the companyâs target segments. The vendor must be able to extract sales intelligence in terms of technographic, demographic, financial, and firmographic details relevant to the company.
- Data validation services: Another crucial requirement in a vendor is the ability to validate the data in terms of its contactability and relevance. Enterprises must ensure that the vendor has advanced automation and natural language processing mechanisms to provide geo-specific, refreshed, and enriched data.
Choosing the right partner for B2B marketing projects
The success of B2B marketing and sales campaigns hinges on the foundation of a comprehensive database, an expert team, and automated digital processes. However, choosing the right b2b contact database provider is a fraught business. There are severalÂ Â b2b data providers in the market and every B2B database is stirred with marketing magic.
Kickstart your B2B outreach campaigns with the right goals, plan, and tools with Denave and be assured of success. Please get in touch with us to discuss how we can work together.