How to Utilize a B2B Database Efficiently for Best Sales Results
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People who believe that there’s no difference between B2C marketing and B2B marketing could not be more wrong. Marketing to other businesses is extremely different than marketing to individual consumers for your products. That’s why there’s an entirely different marketing method called B2B marketing that exists. This is when businesses go looking for an online business directory in Canada which helps them take their marketing activities up a notch.
What is a B2B Marketing Database?
A B2B database is a log of all the data available on your existing and potential customers. A B2B database should include full business contacts database and not just a name and number. It should cover industry, geographic location, company size, and more. Specific details on the actual company contacts are also relevant. For instance, if your B2B database includes contact data for a person at a specific company, the database should specify whether that person is a decision maker or someone lower down in the ranks.
Why do Marketing Teams need a Reliable B2B Database?
When marketing teams don’t have the right database to fall on, one or many steps in the sales cycle can go wrong.
- Sometimes prospects could provide incorrect contact details, whether intentionally or accidentally, and that could lead to your team wasting time chasing the wrong contact
- Employee turnover causes contact lists to become out of date
- Businesses move, close, merge, or evolve, and the information in a B2B database won’t be a true reflection of your future customer
- B2B databases can be too sparse, lacking essential information about clients and decisionmakers if marketing teams don’t have the resources
Important Metrics for B2B Companies to Consider
Every activity needs a success or failure metric to know how effective it. Once B2B companies have their goals in place, then
- Marketing-qualified leads – These leads are often generated with the help of marketing efforts through traditional and digital channels such as forms, social media, cold calling, etc.
- Conversion rate – How many people that you reach out to turn into customers? It’s not necessary that all leads move through the sales funnel and come out at the end.
- Sales-qualified leads – These leads are a step above marketing qualified leads. An SQL has been nurtured along the sales funnel and is more likely to purchase than an MQL. This lead is most likely now in touch with the sales team who got their contact from a Canadian business directory database. The sales team has probably spent time nurturing them into a customer.
- Qualified leads per marketing channel – Identifying channels which bring in the right qualified leads is important as it can shape future marketing campaigns.
- Return-on-investment (ROI) – Understanding the ROI of specific marketing efforts by analyzing how much value is produced, compared to how much money is put into a campaign, you can convince executives to invest further in marketing.
Finding an online business directory in Canada that can be trusted for accurate and valuable information can be tough but look no further! Scott’s Data is a premium directory bringing you to most updated business contacts database possible.
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