As a B2B company, a great deal of your success likely depends on being able to get into contact with decision-makers in other businesses. Unfortunately, this is often easier said than done. Obtaining reliable contact information for decision-makers can be challenging for a number of reasons, which is why many companies in this position choose to purchase B2B data outright. By doing so, they can obtain a list of contact and other information that can help them convert leads into paying clients.
If you’re even thinking about putting some of your marketing budget towards buying B2B data, however, it’s important that you understand how this data is aggregated and how the entire process generally works.
How B2B Data is Aggregated
There are numerous ways through which B2B data can be collected. More often than not, business contact information is added to databases upon installation of the business phone system itself. Depending on the company aggregating the data, the client may need to opt into having their information listed in the database (ideal), but it some cases, the data is automatically added and clients who don’t want to be sold to must opt out.
Some other common means of aggregating data include:
- using social media
- web crawling
Keeping Information Up-to-Date
One of the greatest inherent challenges in handling B2B data is that of keeping it up-to-date. Think about it; many of the biggest companies that your business would like to work with may have changes in decision-makers and other positions quite frequently, which can make keeping this data current and accurate very difficult. Generally, the only ways in which the data can be kept current are if the account holder manually updates their information or if the B2B data provider selects the data to be updated/cleansed manually.
The Role of Third Parties
So, if most B2B data is readily available in opt-in or opt-out databases, what’s the point in hiring a B2B data provider or reseller? The answer is that these third party companies offer additional services that may come in handy for your business. For example, they may handle the cleansing and updating of the data for you, or they may add value to the data in other ways that would require a lot of time and resources for your business.
The Challenge of Keeping Clean Data
If you’re looking to buy B2B data and a company assures you that their information is “constantly” being updated, you should take this with a grain of salt. Unfortunately, with the high turnover of decision-makers in B2B environments, there’s simply no way to constantly update and cleanse data. This would be beyond the scope and manpower of any B2B data provider out there. Instead, try looking for a company that cleanses and updates its data once every few months. This is far more realistic.
Now that you have a little insider knowledge in the world of B2B data aggregation and management, you can make a more confident and better informed decision when it comes time to purchase your own B2B data from a reputable and experienced company.