Driving B2B Sales with Data
B2B data has become a valuable asset for businesses looking to sell products or services to other companies. B2B data contains the information and up-to-date profiles of the key decision-makers that influence a business decision. With this information, sales and marketing efforts can be honed on those decision-makers. In this way, sales and marketing activities are likely to yield much more effective results.
An up-to-date list of doctors in Ontario can help businesses create the Ideal Customer Profile, improve the lead generation process, and increase outbound sales, among other perks. The amount of data will increase in the coming years. Identifying what data is important to any particular niche and doing business can be tricky within this ocean of data. However, armed with proper knowledge, companies can better drive their B2B sales using quality data.
Filtering the Data
There is no end to the data a business possesses, nor the amount of data a company can acquire. However, low quality and irrelevant data will not affect sales, no matter how well companies use it.
The first step to figuring out what data is relevant is building an Ideal Customer Profile or the ICP. The ICP is a vital step to realizing the driving force of the business‘ sales cycle. If the ICP is not well built or recognized, no matter how revolutionary the product is, it will be marketed to the wrong audience. Ultimately, there are no or low sales.
Developing the ICP requires thinking about what companies need and what the product marketers are selling. Who are the key decision-makers within those companies? Understanding what industry to target is also important. An authentic and updated list of doctors in Ontario should contain high-income, high-profile data for the healthcare industry. After company data, the next step is to figure out the prospect data. The job titles, departments, and tenures of those marketers will be targeting are needed. Lastly, the contact data of those specific persons can come from contact databases such as a Toronto medical directory.
Understanding the Types and Sources of B2B Data
Several types of data are available for different kinds of products and services. These types of data include:
Anyone can obtain this data from different sources such as social media, websites, or vendors. Understanding the different data types can further help filter through data to figure out what you will specifically need. Some of the essential, most necessary from the list above are:
1. Account data
It provides information on companies and contains information such as company name, website traffic, information about the CEO, and any recent funding, to name a few. Knowing this information can refine your marketing pitch by personalizing it more in light of the company information.
2. Contact data
It might be one of the most valuable information to marketers. It contains the contact information such as the name, job title, and email address of the people you want to target.
3. Intent data
It uses behavioral data to analyze and make conclusions about a user’s buying intent. This data can give a business insight into who is more likely to be interested in their product.
Marketers can figure out their target customers or client base, and they know the kind of data they need to build their marketing pitch. The next step is figuring out how to get the data that they need.
One of the best ways to get good quality data is by looking for a reliable vendor. Often, data can contain incorrect or missing information or information that has not been updated in years. When the dynamics of a business can change in an hour, such data will be useless, but unknowingly using it can cause a considerable loss to the company.
Reliable vendors’ data, such as MD Select‘s Toronto medical directory, can be assuaged for their competence based on how frequently and regularly they update data and how expansive their data is. Along with the quantity of data, a good vendor’s data is also well managed.
Many vendors further help by sourcing prospects that fit the criteria of a business’ ICP. This cuts the work of the company in half. Once accurate, reliable data specific to a business’ ICP is received, a marketing or sales strategy can be designed specifically to the data of the target customer or client base on hand.
Making the Most of your B2B Data
B2B data provides leads. The accurate measure of success is turning those leads into sales. There are three types of leads: cold (business and the lead have never had any engagement), warm (there have been some interactions), and hot leads (the prospective client has not only shown interest in the product but conveyed the willingness to buy it). Data can be used in various ways to achieve sales by Using different types of leads.
- Demand generation: Using data to raise brand awareness
- Lead generation: Nurturing the interest in your product or service to target individuals to take the action of purchasing
- Lead routing: Turning leads into sales is not a one-time communication. It takes several follow-ups and ensures that the potential lead is not forgotten or routed to the wrong people within the business.
Data is available in copious amounts. On the other hand, obtaining good-quality data, such as in Ontario medical directory, is not as readily open or accessible. However, good B2B data can drive sales up by a significant amount. To read more, click here!