5 Points to Consider while Evaluating the right B2B Data Provider

Data is currently the topic of conversation in B2B marketing, not to mention a significant investment! 

However, as a buyer, you should never put your trust in a data supplier before fully comprehending how and where their information is developed. 

After all, the gasoline that makes your revenue engine function effectively and smoothly is account and contact information.

“Without big data, you are blind and deaf and in the middle of a freeway.” – Geoffrey Moore

True enough! Higher accuracy data and greater insights are crucial for modern sales and marketing professionals. There are thousands of B2B data suppliers available today. 

All, however, are not equally effective. What, then, is Step 1? Right! Choosing the best B2B data provider is important for your company.

It seems to make sense that it would yield impressive outcomes for your company. Every organization searches for a reputable data provider that guarantees accurate data. 

The reason for this is because when your sales team has wrong data, it will take them longer to pitch the right audience.

So, What are the most important aspects to consider while choosing the Best B2B Data Provider?

 

 

Data Accuracy

When picking a data partner, the most crucial factor that should come first on the list is the reliability of the data. It would be unable to fulfill the need without accurate and pertinent B2B data. 

Therefore, pick a data partner that obtains the data from trustworthy sources. When you reach out to your target clients with reliable information, it will instantly increase sales.

The following ensures the highest quality of the profitable leads:

1. Data Cleansing
2. Standardization
3. Duplication
4. Migration
5. Verification

Researching a B2B company’s data sources and data collection methods is the best way to find out how accurate their data is. In this situation, internet and support representatives might be of tremendous assistance.

Even if the database supplier firms offer enough data, make sure it includes all the details you require.

Customization Options

Every organization has particular needs, difficulties, and objectives. Consequently, a versatile marketing database is crucial. The good news, then? It is appropriate for your company’s many diverse goals and viewpoints.

Make sure a B2B data provider gives you the choice of a customized database before selecting them. Additionally, find out what kinds of customizing choices they offer. 

Additionally, be sure to select a corporation that comprehends your company’s requirements and offers solutions that align with your sales and marketing objectives.

Adequate Insights

In order to acquire, gather, and update data, data efficacy must be maintained. Any firm must understand the buyer’s persona. They can then match the interests of the customer with their service or product.

Understanding the customer’s problems and driving forces can be quite beneficial. This allows you to contact them with marketing that is pertinent. One crucial task that B2B Data Providers complete is gathering information about your target audience.

On the other hand, financial insights are equally crucial because they allow for the review of M&A transactions and the identification of any underlying problems. 

Customers are more interested in a business that alleviates their problems. As a result, be sure to thoroughly understand your target market and supply correct data for marketing initiatives.

Deliverability Guarantee

First of all, if you invest in consumer data, you should expect it to be effective. Second, you expect that the data collected will help you achieve the objectives of your B2B marketing initiatives.

But you also anticipate a deliverability assurance when you use a data service from a data provider for your brand.

So, ask these questions to your data provider for the guarantee of deliverability of the B2B database:

• What percentage of deliverability guarantees will they offer your company?
• What assurance can their services offer in the event that a marketing message cannot be delivered?
• If a message is not delivered, what further action will this B2B Data Provider take?

Cost Factor

The Cost comes last but not least. At least, why not? That is because it is an important factor to consider while utilizing data services provided by an organization. 

However, many marketers overlook the relative worth when choosing an organization since they just pay attention to ROI. In many of these businesses, it leads to financial turmoil. 

Make sure to conduct thorough research as a B2B marketer rather than making snap judgments. Recognize the anticipated price range for a business your size. Additionally, be aware of the level of negotiation possible.

Following are the points you need to make sure to know clearly before availing of a data service:

• Verify the company’s premium pricing policies.
• Learn about the additional services and promotions that are included with the premium.
• Examine and confirm whether this premium will actually assist you in achieving your other goal.

The B2B Sales Intelligence Platform to Win more Deals in Less Time!

 

Benefits of B2B Data Providers’ Products:

1. It helps in making informed business decisions based on your company insights.
2. They enable you to detect new revenue opportunities.
3. You get an experience of high service and pricing personalization.
4. You can assess the risks and avoid fraudulent actions.
5. Lastly, it allows you to reduce your costs and establish a smooth internal process.

Things To Avoid In A Data Partner:

• Extensive database does not equal quality database

Many B2B data solutions providers claim that they have data containing hundreds of millions of contacts. While this is possible, you must also research and find out how much this data is worthwhile. 

On the other hand, think about your target market. Do you need millions of contacts and get confused while approaching each of them with your marketing campaigns?

For most of you, the answer would be ‘no’. Filter out contacts that you need to reach — decision-makers who are in charge of their budget.

• You may be overcharged for the Data

According to an estimation by Dun and Bradstreet — every 30 minutes, about 120 businesses have a change of addresses, about 20 CEOs get over their positions, and about 75 office phone numbers are likely to change. 

In addition, they say that more than 70% of records are either inaccurate or incomplete. With such a change of figures, you can quickly figure out that contact data is prone to change all the time. When there is so much change, it might be next to impossible to reach most contacts.

• Lead Generation may not always be the answer

Lead generation is a problem in itself. Having access to a full-fledged database does not assure lead generation. Lead generation is a whole different ball game and requires more than just a good dataset. 

Many factors are responsible for generating leads. Businesses that look for a dataset that will solve all the problems are making a mistake. Accessing a viable dataset may be a step closer to reaching your target audience.

But that is not all! Create incredible marketing campaigns by equipping them with accurate data.

Choosing the right B2B data provider often comes as an excellent decision for a marketing manager. Without giving much thought to it — accurate data fuels the sales and marketing activities. 

The only aim to find the perfect B2B data partner is to help close the deals. At Infotanks Media, we provide datasets that fit the bill for your business. Our data experts and analysts give the best guidance to help you reach your marketing goals!

We regularly update our 50+ million contact points using our networks and human-verify them in real-time to provide businesses with the most accurate, contactable, and relevant data across industries worldwide.