In a survey by Demand Gen Report, 64% of respondents say their biggest issue with maintaining database quality is having old or outdated data. Bad data not only affects your outreach efforts but can lead to missed opportunities and wasted resources.
To prevent this, it’s critical to ensure your business data is accurate and up-to-date. This not only helps you personalize your sales and marketing efforts but also uncovers new valuable insights about your target audience. This is where a reliable B2B contact database provider becomes invaluable.
They continuously verify and update business information, ensuring your database remains current and relevant. Here’s how the best B2B data providers can do wonders for your business:
A B2B data provider helps you zoom in on the businesses and decision-makers who are most likely to be interested in what you’re offering. You can simply sift through heaps of data to find companies that fit your ideal customer profile (ICP) like a glove.
This way, instead of blasting out emails or ads to everyone and their neighbors, data providers can help you be highly specific when it comes to building your prospect lists. You can use filters like financials, employee count, company profile and industry to create targeted lists, like Series B companies with over 200 employees in the healthcare industry.
And when you’re talking the right language and addressing specific needs and pain points, you’re bound to see a positive impact on your engagement efforts.
- Identify Key Stakeholders Within Target Accounts
So you’ve identified businesses that would love your product. Now the question arises: Who do you talk to?
With a B2B data provider, you get to know the ‘who’s who’ in your target accounts as you get full visibility into each contacts, their roles, and even the company hierarchy. This helps you zero in on the decision-makers who have the power to say ‘yes’ to what you’re offering.
- Expand Total Addressable Markets and Identify New Prospects
Total Addressable Market (TAM) is the overall revenue opportunity for your product if all potential customers were willing to buy what you’re offering. Expanding your TAM can help you generate more opportunities, unlock new revenue streams, run stronger go-to-market campaigns, and reach a wider range of customers.
With a B2B data list provider that provides accurate information on businesses, you can not only effectively navigate the market you know but also discover new markets you haven’t even tapped into yet.
By expanding your total addressable market, you open doors to new possibilities, new customers, and ultimately, new revenue streams, scaling your business beyond its current boundaries.
Well, you know this already but let’s reiterate—in the world of B2B, one size doesn’t fit all. Personalization is key. And this is where a good B2B data provider really shines.
It not only equips you with an extensive list of your target audience, but also provides key information about the accounts like employee count, revenue, location, tech stack, etc. This allows you to effectively tailor your content and messaging to address the specific needs, challenges, and interests of each segment or individual you’re targeting, making your communications more relevant, more engaging, and more likely to strike a chord.