Staying a step ahead of competitors allows B2B revenue marketers to make an impact on a prospect before anyone else. And this is where your B2B prospecting database comes in handy. It gives you relevant insights that enable you to target the right contacts at the right time.
All these = BETTER CONVERSION RATES.
Plus, you also get better mileage out of your B2B prospecting tools. In this piece, we explore the importance of using the right B2B contact data as part of your sales prospecting methods and strategy.
What is a B2B database?
A B2B database is a record of data about your potential customers.
How to build a B2B prospect database
When it comes to building an effective B2B prospecting database you want to focus on lead generation. Here are a few ways to capture contact information to build your B2B prospect database.
- Place forms on your site to collect contact info
- Create engaging gated content
- Host industry-relevant webinars
- Develop a newsletter that attracts your target customer
What is a B2B database platform?
A B2B database platform is a repository that holds information on your leads. It offers insights on prospects, including, but not limited to:
- Company/employer name
- Estimated revenue
- The names of key decision-makers
- Contact information, like their email address and phone number
- Where they are in your sales cycle
It’s also important to note that a B2B prospect database should be dynamic. It can be updated or tailored to include information specific to your industry and relevant to your revenue team or deal cycle.
Why accurate B2B contact data matters in B2B prospecting
Accurate and up-to-date information is essential to a functioning B2B database. Here are three of the most important reasons you should be vigilant about reviewing yours on a regular basis:
1. Data quality & management
Sales reps agree that in B2B prospecting, in-depth knowledge of your prospects helps filter qualified leads and shorten the sales cycle. On the other hand, an out-of-date B2B database that has inaccurate contact data increases your risk of missing out on opportunities and wasting resources.
Your company has just invested in a B2B database to support your sales and marketing efforts. Of course, you are excited to see accounts that match your ideal customer profile on the list, so you whip up the perfect email to send to them about your products.
You then realize that a) it’s the wrong email, b) they’ve changed jobs, or c) their roles have changed, so they can’t influence buying decisions anymore.
Pretty heartbreaking, right?😔
When choosing a B2B prospecting database provider — or creating one of your own — that serves as a powerful B2B prospecting tool for your team, don't overlook data quality and how it’s managed.
2. ABM without the right B2B contact data is like shooting in the dark
Account-based marketing (ABM) may be the new kid on the block in B2B prospecting, but it’s a proven strategy that works. In fact, according to HubSpot 86% of marketers use it to improve their win rate.
But to launch an effective ABM program, you need detailed insights into your target accounts. You want to know the company’s firmographic data and key contacts —including its decision-makers and influencers.
These insights drive your prospecting strategy. So, if the contact data is wrong from the get-go, it isn't far-fetched to imagine yourself at the end of the program with thousands of dollars spent and no closed wins to show for it.
Additionally, if you decide to multi-thread, (and you should), you need accurate data to make sure you're building the right relationships (relationships that help accelerate or close the deal) with your sales multithreading.
The right intent data = personalized prospecting
Intent data reveals the pain points of your customers. With intent data, you can segment your buyers, create personalized content, and provide value at every stage of the buying journey.
Despite all the great things you can do with intent data, incorrect contact data will make your efforts ineffective.
For example, if you create an ebook to only target account executives, inaccurate contact data means sending irrelevant content to the wrong people.
It could also mean you can’t run a targeted campaign, leading to poor conversion rates.
In a nutshell, intent data helps you personalize the buying experience for each buyer. But it’s useless if you have the wrong contact information for a prospect.
The best B2B prospecting databases are game-changers
The rate of job changes has accelerated data decay on most B2B database platforms. In internal data tests, we have seen companies with data decay rates as high as 20%.
Meaning businesses that rely on manual updates of their B2B contact data will fall behind.
Without an accurate B2B database in your prospecting toolkit, your sales and marketing teams miss out on data-driven insights that help them prospect effectively and launch revenue-generating campaigns. Several B2B prospecting database providers today can handle managing and maintaining data.
But if you are looking for best-in-class accuracy and a B2B prospecting tool that tracks when past buyers change jobs, it wouldn't hurt to check out our video demo.
UserGems helps companies generate more revenue by combining relationship data with trigger events to surface the most relevant buyers in their B2B contact databases. With UserGems, our customers get a bigger pipeline and win more often.