Gartner research found that organizations suffer a loss of about $15 million per year due to poor B2B data quality. Further, LinkedIn also reported that almost 30% of business data is subject to decay every year. These statistics highlight the importance of high-quality and reliable data for B2B organizations.
Moreover, the changing market demands, evolving customer expectations, and ever-increasing data volumes have made a strong case for efficient data management. However, gathering and managing data can take a lot of work. It also becomes business-critical to extract valuable insights from the data. This would require organizations to invest heavily in in-house resources and technology to manage data.
To save time, cost and enable their internal resources to focus on other business outcomes, many B2B organizations partner with data service providers.
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What is a B2B Data Provider?
A B2B data provider is a third-party organization that provides on-demand data solutions according to your business requirements. They create a data repository by gathering, storing, refining, and managing data. This repository serves your business purpose by providing high-quality and reliable business data to drive your sales and marketing campaigns and, eventually, business growth.
Why do Businesses Need B2B Data Providers?
By partnering with a B2B data provider, you can access highly accurate, reliable, and complete customer information. High-quality data helps you make informed business decisions and draw valuable insights about your customers and competitors. Further, you can also leverage the data to strategize your business growth plans. Here are some notable benefits of partnering with a B2B data provider.
- Better data-driven decisions
- Identify new business opportunities
- Achieve cost and time efficiency
- Improve sales conversions number
- Improve business processes and outcomes
B2B data providers offer custom databases for sales and marketing campaigns, generating unique insights and systematically implementing them for maximum impact. Finding the right partner can be challenging, but understanding the importance of B2B data providers in today’s competitive business world is crucial. By focusing on the impact of these providers on sales and marketing efforts, businesses can gain valuable insights and stay competitive in the market.
B2B Data & Sales
B2B sales have traditionally relied on calling, in-person meetings, and shaking hands. However, this outdated approach is outdated in remote working and hybrid work models and may overlook new opportunities that can be beneficial for businesses.
B2B data and B2B data providers have become crucial in sales management’s efforts to improve commercial performance. However, data alone cannot solve business issues, as only relevant data is relevant. Expert B2B data solutions provide expertise to analyze and derive meaningful insights from this vast amount of data.
Digital channels have led to increased access to data for sales teams, prompting businesses to invest in B2B data analytics and partner with top providers. This has accelerated with the development of predictive analytics tools. B2B data providers offer valuable insights on prospects, clients, and buying behavior, making it crucial to have the right b2b data provider by your side.
B2B Data & Marketing
B2B data services significantly impact marketing, enabling businesses to gain valuable insights into their target audience. These providers can segment audiences based on specific criteria, such as customer characteristics and behaviors, enabling tailored marketing campaigns.
B2B data providers boost personalized marketing campaigns, higher ROI, and real-time market intelligence, enabling businesses to stay ahead of the competition and adopt a more informed, strategic approach to marketing.
Businesses are utilizing B2B data service providers for various purposes, including creating Ideal Customer Profiles, boosting demand generation, enhancing lead generation, and implementing data-driven decision-making. Ideal customer profiles improve sales and marketing campaigns, while data-driven decision making eliminates guesswork and leads to more focused and fact-based decisions.
How to Choose a B2B Database Provider
Before signing any contract, every business should think carefully about where B2B database providers get their data from and what makes them stand out. Considering the following factors will help you choose the best data provider for you:
1. Conduct your research
Always have questions prepared before speaking with a sales representative. Your company will save time by thoroughly researching potential data providers and eliminating those who do not meet your needs. The following points should be considered when vetting potential B2B data providers:
- Data source: Businesses must ensure the data provider company operates ethically and legally.
- Reputation: The reputation and dependability of the provider can be assessed using reviews, product comparisons, social media profiles, and customer comments.
- Cost: Analyze the cost of the data services and the billing method. Some are available for hire through one-time, subscription-based, or upfront purchases.
- Features: As data needs increase, businesses must also talk about add-ons and integrations.
2. Define data goals
The right B2B data supplier is the one who provides you with exactly what you require. You must establish the most important data-based objectives and communicate this information to the data vendor.
Standard B2B data-focused objectives include:
- Increase brand awareness
- Engage potential buyers
- Prospect effectively
- Encourage customer retention
- Inform staff / facilitate communication
Additionally, you can request concrete examples of how prior clients have accomplished corresponding goals. Many data providers are accustomed to receiving requests of this nature and will be prepared with case studies and other step-by-step instructions.
3. Request a demo
Real-time access is the only way to get a true sense of any digital platform. Without practical experience, assessing the size and quality of a dataset would be challenging.
The majority of B2B database vendors are more than happy to provide a free sample or demo. Therefore, arrange a meeting with the data vendors you consider more appropriate and ask them to guide you through their platform.
Services Provided by B2B Data Providers in the USA
Customized Data Solutions
Every organization has unique business needs. It becomes critical to ensure the business data caters to those needs. B2B data providers understand your business requirements and offer data solutions that best suit your needs. You also gain access to intricate details of your target customers and high-value accounts. These data insights help you optimize your efforts and improve campaign performance.
Data enrichment is a crucial aspect of data services. Enriching your data regularly is the best way to avoid data decay and the challenges it offers. B2B data providers provide enriched data and enrich your existing data, making it valuable for targeted customer engagement.
B2B Data Cleansing
Having reliable and validated data at your disposal becomes critical for campaign success. Data cleansing helps you validate your business data and analyze its relevance, accuracy, and reliability. This helps you improve your customer acquisition efforts by optimizing your campaign performance.
Data Quality Management
Poor quality data is as good as no data. Poor data quality will diminish your efforts and lead to poor customer experience and increased attrition. Moreover, the quality of your data will directly impact customer engagement and relationships. Data quality management improves the fitness of your business data, making it fit for analysis and designing sales and marketing strategies.
AI-Powered Data Solutions
AI technology has paved the path for new possibilities in data management. Organizations are leveraging AI, ML, RPA, and cloud technologies to enhance their data solutions and draw valuable customer and market insights from the data. Additionally, AI-driven data solutions can easily assess and address complex data challenges and present efficient, accurate, ready-to-use business data.
Risks to Avoid While Selecting a B2B Data Provider
Organizations rely on data providers to gather B2B data that is reliable, accurate, actionable, and measurable. However, partnering with a vendor that understands your business needs and can deliver customized data solutions for better outcomes is important. Here are five red flags you must avoid when choosing a B2B data provider.
Highly Inaccurate Data
Inaccurate data is a big no when it comes to marketing campaigns. B2B data typically degrades at the rate of around 15% in a month. Thus, ensuring you have updated, accurate and reliable datasets is essential. The accuracy of the data can be easily judged by finding the answers to these questions.
Less or No Data Customization Options
Personalized campaigns will prove to be the game-changer. The business objectives, requirements, and challenges of every organization are different. Customizing the data solutions according to your business needs and target audience is important. Before partnering with a vendor, understand their customization options and how they will align with your business goals and cater to your target audience. Look for answers to these questions.
Incomplete data is no data. Even if one data value is missing from your database, it can impact your campaign performance. This makes it crucial to ensure the B2B data provider has the complete information you need according to your business goals. You can ask the following questions to ensure the completeness of the data.
Low Deliverability Rate
For data to work its magic, it should be used at the right time, in the right way. Organizations expect the data to work once they invest in it. For the success of any campaign, it is crucial to reach the right audience. Often, sales and marketing teams face the issues of non-deliverability, especially for email marketing campaigns. This can adversely impact your business goals. Before investing in data solutions, find answers to these questions.
High Service Costs
The cost of services you avail will directly impact your business ROI. You want to find the most cost-efficient option without compromising the quality of data services. Ask the vendor these questions.
Benefits of Partnering with B2B Data Providers
B2B data providers give you access to reliable, accurate, and complete information that helps you make informed decisions. You draw valuable insights on markets, customers, and competitors and design your business strategies for the future. By partnering with a B2B data provider, you can:
Make Data-driven Business Decisions
Decisions that are backed by data insights help you achieve the desired results. B2B data services enable you to make data-driven decisions and not just have an assumption-based strategy. Reliable and accurate data provides information about customer expectations that help you design business strategies that will cater to those expectations.
Detect New Business Opportunities
Business data can help you analyze your previous strategies and detect untapped markets. Customer data will help you understand the buying behavior and characteristics of the audience. This will further help you create an Ideal Customer Profile, target new, relevant audience groups, and expand your business reach.
Deploying an internal team of data experts to gather, segregate, manage, analyze, and store vast volumes of business data might not always be the brightest of ideas. You spend more and assign your resources, compromising on other business operations. B2B data providers quickly provide all the information you need, helping you save costs and resources.
Accelerate MQL to SQL Conversion
Buyer intent data solutions offer insights into the current state of the lead journey. They help you predict the probability of a lead converting into sales. By personalizing the communication and engaging with the prospects when they are most active through the communication medium they prefer, you can accelerate MQL to SQL conversions.
Improve Business Processes
Accurate data solutions improve your sales and marketing campaign performance. Organizations rely on data insights to make informed business decisions and create a roadmap to achieve desired outcomes based on data analysis. This helps you set an effective framework for business processes.
The 10 Best B2B Data Providers in the USA
There are a number of B2B data providers in the USA that claim to offer accurate and reliable data solutions and help you achieve your lead generation targets. However, choosing the service that best fits your business needs is important. Here is a list of the best 10 B2B data providers in the USA that you can check out.
1. Datamatics Business Solutions Inc. (DBSInc)
With 2000+ global clients across 120+ countries and 256+ industries, Datamatics Business Solutions has helped many B2B organizations to enhance their outcomes. It has a robust repository of 40 million accurate and reliable contacts. DBSInc leverages modern-day technology to offer robust DataLabs and hybrid data cleansing process. Datamatics Business Solutions Inc. is one of the top B2B data providers in the USA, with a wide range of data services and a technology-driven approach toward data solutions.
- B2B custom data & account profiling
- Data quality management
- AI-powered data solutions
- CRM data cleansing
- 99.8% data delivery on time
- ~99% data accuracy
Chart a Course for B2B Excellence
Adapt offers 100 million business contacts across the software, finance, telecommunications, transport, and logistics sectors. They serve a community of over 300,000 users. Adapt offers data segregation based on industry, departments, location, business turnover, and workforce strength.
- Weekly updates of over 2 million data sets
- Data points for lead scoring
- Web platform
- Real-time data gathering from users
- CRM direct compatibility
Datanyze has a database with over 120 million contacts, including 84 million email addresses and 48 million contact details. Datanyze also enables customers to utilize the Google Chrome extension to extract contact data from websites and LinkedIn groups.
- Free and premium pricing plans
- CCPA and GDPR compliance
- Latest information on technology categories
- User-friendly interface and comprehensive dashboard
- Refund offered for any inaccurate data encountered
Demandbase provides its partners access to global business data and helps them grow their business across geographies. The data cleansing management services are pretty handy for marketers. Customers can also leverage the InsideView feature to identify new markets, audiences, and business opportunities.
- Account intelligence
- Easy integration
- Cloud technology and intelligence
- Target account list calculator
- Plug-and-play integrations
The LeadIQ database comprises a community of users who have connected their inboxes to the platform, collaborations with more than a dozen data suppliers, and open data (found on corporate and social media websites). It also has a provision for directly entering prospects into the CRM for comparison with the existing data values.
- LinkedIn Sales Navigator compatibility
- LinkedIn filters
- Seamless integration with leading tools
- Analytics dashboard
- Easy record updating
Owler has an extensive network of over 3.5 million business people. They interact with their members monthly to get insights into their business, projects, employees and processes. This information helps them build comprehensive databases and provide sales and marketing teams with valuable datasets for their campaigns.
- Workflow tools
- Automated platform
- Sales triggers
- 15M company profiles
- 500K monthly contributions
7. Thomson Data
Thomson Data provides an extensive database and useful filters to segregate data based on location, industry, company, title, number of employees, and other fields. They have a team of over 100 data scientists to manage over 75 million contacts. They offer financial information about your target prospects along with their technology and investment history.
- Enterprise resource planning
- Verification processes
- 75+ specialized segments
- Social media integration
- Customer support
UpLead has a contact database of over 85 million contacts. They offer about 95% data accuracy through their data services. Additionally, the technology tracking system, ABM marketing applications, and competitor insights make the data services reliable and helpful for marketing teams. They leverage predictive modeling and intent data triggers to enrich the data.
- Leads showed in real-:time
- Coverage in 200+ countries
- 50+ search filters
- Several CRM integrations
- Social profiles connection
9. Visual Visitor
Visual Visitor has a database of over 640 million B2B contacts. It offers web analytics, including marketing campaign management, conversion tracking, keyword analysis, and other performance metrics. The data services include email contacts, tracking, and visitor ID tool integration.
- Free version available
- 24/7 live support
- AI integrations
- Unlimited users
- Intent data triggers
Zoominfo provides platforms for sales, marketing, talent management, and operations. They provide contact information about organizations, including employee data, certifications, history, revenues, online presence, and social media engagements.
- Marketing technology integration
- Contact syncing with the CRM
- Predictive modeling
- Website visitor tracking
- Cross-channel advertising
With the ever-expanding range of data and analytical tools, the opportunities modern marketing and sales folks have to identify and capitalize on new leads have multiplied. From finding new customers to reaching them with a hyper-personalized message, data can facilitate everything for you, and the right B2B data providers ensure that you get all the information you need to reap maximum ROI on your sales and marketing investments.
Most organizations are harnessing the power of B2B data and data providers for their business gains; it’s about time you did too. Should you need help getting started, we have our B2B data experts ready to help you in all possible ways. Write to us: firstname.lastname@example.org, and we will have one of our experts reach out to you at the earliest.
Frequently Asked Questions
Companies that provide business data are known as B2B data providers. They offer details about the business, such as names and addresses, phone numbers, financial data, and more. Both business intelligence and marketing applications can make use of this data.
B2B data can be defined as any relevant information about other businesses. Its primary application is to fuel marketing and new sales strategies or processes. Businesses use this high-quality data to increase lead generation, conduct better market research, and create more business opportunities.
A B2B database is a collection of your prospects’ contact details. A suitable B2B Dataset is a crucial component of any company’s toolkit if it wants to improve customer engagement. The target audience’s firmographic data is the main focus of B2B databases.
Any offline or online channel that a company uses to communicate with its customers qualifies as a B2B marketing channel. This includes B2B marketing inbound channels and paid B2B advertising channels (e.g., the company website, your email newsletter, etc.)
B2B data includes elements like firmographics, technographics, employee names, company names, email addresses, and phone numbers. In addition to information you can use to contact them, it contains anything that can make someone a good sales lead.