Unravelling business intelligence tool for your bu
Let's consider an example to understand this - As a leader of a rock band, would you go for classical music for the audience that is expecting rock music?
Sounds crazy, isn't it?
Now, coming back to our B2B scenario. Consider a customer coming to you asking for a CRM. Would you sell him an email marketing service just because you think it might help the customer?
If you think that ‘one size fits all’, it will be like you are aiming for your targets in the dark. Everyone has different motives to reach out to you. Following this method will waste the majority of your efforts.
Thus, it is important for you to know your customers and their expectations. Here, data comes into picture. Data will act like a torch for you to remove darkness and to finally aim for your goals.
What form of data is essential for your company?
Communication is the base of all sales and marketing strategies. Communication can only be done if you have the correct data about your prospects. Size of your company does not matter, knowledge of your customers matter.
Data brings you closer to your customers. If you know your future customers in a better way, you can design your marketing strategies accordingly. You can generate insights, track intent and behavior, ultimately improving chances of success.
Why is data enrichment so crucial?
Data’s accuracy and completeness helps in paving the way for generating insights, finally leading to marketing strategies. Basically, data enrichment involves diffusion of data from (in-house database) with data collected from external resources.
Data enrichment is useful for getting valuable information about your prospects. As a final step, it guides the organizations to make informed decisions. Additionally, it saves enough time for your sales team to build a repo with prospects.
What is important data quality or quantity?
According to traditional sales tactics, the more prospects you reach, the more chances of success. In this case, volume of data takes the driver’s seat while quality takes the back seat. Yet in the current market conditions (filled with many players), consistency of data is utmost important.
Talking about numbers, quantity has never been directly proportional to profits. Getting your hands on a large database will turn into a ‘bog’. Decision making procedures will become more complex, ultimately emptying your company’s wallet and reducing productivity.
If you get even 10% of the random contacts that are human-verified, would you prefer that 10% ready contacts or would you prefer to go for unverified random contacts? You will definitely opt for the 10% verified ready contacts.
Why is accuracy of data important?
You can convert your product/service into a successful brand with the combination of- content, target audience and data. Data health can be considered as the quality of data used in email marketing activities. If you maintain data hygiene in your emails, you will have higher chances of success.
How to find the right data provider for your business?
Finding and filtering the right data will consume a lot of your precious time. The easiest way to save time and to get reliable data is to join hands with a verified sales data provider.
It is worth noting that the majority of the B2B organizations choose data partners to easily reach out to prospective businesses. This helps them in saving time (required for exploring prospective businesses) and to put the saved hours into execution of strategies.
There are many data partners in the B2B domain. Choose the right data partner that aligns with your needs and fits in your budget. However, you can jot down parameters before finalizing the right data partner for your business.