Regardless of the type of business you are in, data plays a crucial role everywhere being the driving force behind every successful and effective business strategy. However, when it comes to business-to-business or B2B interactions, the need or value for accurate as well as reliable data can never be overstated. You can say that it serves as the primary backbone for all effective sales initiatives, marketing campaigns, and business growth. 

B2B data refers to the entire collection, as well as the analysis and utilization of contacts related to business interaction. It can be of various types, providing various insights like behavior, characteristics, business needs, and whatsoever. The primary aim of B2B data is to help businesses enable target marketing and strategic decision-making. So, by leveraging these crucial data, businesses can lead to success in today’s highly competitive landscape. 

In this article, we will discuss the importance of B2B data even in today’s lead generation process in 2023. So, let’s get started, 

Types of B2B Data You Should Know About

There are various types of B2B data you can find online. Generally, this data helps you to identify your target audience, personalize your customer experience and uncover new market trends. You can basically optimize the entire marketing campaign based on this data. Depending on the product or services you’re dealing with, you can leverage the right type of B2B data and create an effective campaign. 

The types of B2B data that you should know about include:

  • Demographic Data

Demographic data include geographical or personal factors of contacts like a person’s name, telephone number, physical address, location, or employment history, etc. The ideal purpose of demographic data is to help businesses understand or identify their potential customers, and target market, and then create a tailored marketing strategy accordingly. 

  • Chronographic Data

Chronographic data includes time-sensitive information like an event or maybe any changes in the sales or marketing opportunity. For example, you can understand if an organization has got recent funding, hired new personnel, or appointed a new chief head to their marketing. This information is crucial as well. 

  • Firmographic Data

Firmographic data includes information related to a company’s size, location, industry, employee count, revenue, ownership type, or the entire organizational hierarchy. This kind of data helps businesses to segment their market, identify their ideal target industries, and tailor overall marketing strategies, and sales strategies based on it. 

  • Technographic Data

For businesses, it’s crucial to understand the type of tools and technology their competitors are leveraging. This could be about software, IT infrastructure, hardware, digital capabilities, and online platforms. Technographic data helps businesses to understand the overall technological landscape of an organization. Hence, you can identify new opportunities for compatibility, integration, personalize your marketing efforts, and many more. 

  • Intent Data

Another important type of B2B data is intent data which reveals the behavior and activities of businesses online. By understanding or analyzing their behavior, you can indicate their intent or interest. You can prioritize your sales efforts, identify leads, and deliver targeted messaging to explore relevant solutions. 

How to Utilize The B2B Data to Its Maximum Potency?

To utilize B2B data to its maximum potency, you have to understand the ideal customer profile or ICP. If you have mistakenly selected the wrong ICP, the chances are that you will make no sales at all. ICP serves as the foundation for your entire business sales cycle. So, you have to understand how to develop your ICP at first. 

Now there are two simple ways to develop your ICP. First, you have to choose the type of businesses that will make a profit by using your product or services. And, second, you have to pick the type of buyer personas that you want to interact or chat with in those organizations. But, remember, these personas should be of significant influence in that organization. 

Here are some fundamental criteria to take into consideration:

Company Data:

  • Determine the type of industries you are aiming for like technology, healthcare, manufacturing, etc. 
  • Select the size of the business that you are targeting. For example, 11-50, 1000+ or whatsoever. 
  • Make sure you know the business location. 

Prospect Data:

  • Prospect data should be collected based on the job title of your prospect. For example, you can target the head of sales, CEO, or director of an organization. 
  • Understand the job function of your prospect. 
  • Also, make sure you take note of the tenure of the prospect.

Based on these criteria, you can utilize any lead generation tool and obtain the contact information including full name, email addresses, phone number, and social media handles of your prospects. These are important steps to undergo to utilize B2B data at its maximum potency. 

Where to Get B2B Data?

You might be wondering where you will get all these crucial B2B data that will help you identify your target audience, modify your marketing campaign, and lead your business to success. Well, there are various sources from where you can find this information. Here are some of the sources listed below:

  • Social media
  • Websites
  • Database providers

Ideally, B2B organizations trust various high-quality database providers to help them find accurate and reliable contact information. The best part about these database providers is that you no longer need to search for leads manually. All you have to provide the database is the information and it will automatically fetch some leads for you. These are the benefits of leveraging a perfect B2B database provider for your business growth in 2023. 

Contact SocialBloom to Level Up Your Marketing Strategies

SocialBloom has been successfully operating in the B2B landscape for several years now and has proven capabilities in B2B lead generation. We have helped several businesses with their marketing campaigns by providing them with quality and quantity leads within a short period of time. If you are wondering where to get B2B leads that convert and bring you more growth, schedule a discovery call with us now! We would be happy to help you.