Data collection is an integral aspect of B2B marketing. The higher the quality of the marketing database, the greater the scope to target, engage, and convert qualified prospects. Without a robust database, marketers are likely to miss out on several crucial lead generation and revenue generation opportunities. To save time and money, most B2B start-ups today prefer to liaise with suitable database management agencies. Yet, some businesses prefer to build and utilize an in-house database.
How to Create a B2B Marketing Database?
Building and managing a B2B marketing database requires considerable acumen and know-how. For businesses attempting this from scratch, the following steps can serve as useful directives:
- Identifying the Target Audience
A B2B marketing database can be built successfully only if the business has established the right buyer persona. For every product/service, there is an Ideal Client Profile (ICP) that should be established and detailed at the very outset. This will ensure that the marketers compiling the database don’t end up with unsuitable prospects. The profiles drawn up must include the target company details (size, location, turnover, etc), designations targeted, purchase history, and more.
- Selecting Reliable Database Source
Is the database required to initiate B2B telemarketing services, email marketing, or social media marketing? What is the primary business model and offerings? What percentage of the marketing budget can be devoted to database sourcing? Based on the answers to these questions (as well as the ICP definition), the database sources should be chosen. Data sourcing involves scanning through search engines, websites, social media, online directories, and existing contacts. Of course, there are shorter and easier ways to source data. It is by either getting a database subscription or purchasing a customized database from a professional service provider.
- Database Validation and Enrichment
For B2B telemarketing services and email deliverability to be optimal, each new database entry has to be validated. This is essentially the process of verifying the data to make sure that it is usable, accurate, and meets the ICP criteria. Manual validation saves businesses from falling into the trap of spam-laden, fake, or duplicate data entries. Depending on automated validation alone may not always be effective in detecting these validation errors.
Furthermore, to enrich the existing database with addition layers of valuable client information, validating these layers is a must. The level of enrichment of a B2B database directly determines its efficiency in facilitating sales and marketing. For instance, a basic contact database can be enriched with additional social media details, alternative phone numbers, and CRM data. Similarly, the intent database can be enriched with the recent financial and transactional details of firms.
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- Data Segmentation
Once the correctness of the contacts list has been manually verified, the next step is to carry out data segmentation. This is akin to the market segmentation carried out for B2B telemarketing services. Inserting the necessary demographic, technographic, firmographic, and financial filters in the database application or software will help in quick segregation. Businesses can proceed with marketing campaigns even after the third step of data validation. But the desired marketing ROI can only be achieved after proper segmentation.
Having spent valuable time and resources to create a database (or outsource one), businesses should focus on maximizing the ROI. For the marketing database to yield maximum returns, the B2B demand generation campaign should be highly targeted. Personalized marketing messages and tailored content will allure potential buyers for maximum conversions. A well-built and regularly updated database also helps businesses with robust CRM initiatives to enhance client loyalty in the long run.