B2B data, or business-to-business data, includes a range of valuable information that companies use to boost sales, improve marketing efforts, and streamline revenue operations and this is why so many seek B2B data solutions. This data typically involves detailed contact and account information about key decision-makers within organizations. By leveraging this data, companies can better target their outreach, strengthen their marketing strategies, and ultimately drive growth.
In this guide, we’ll explore where B2B data comes from, the types of sources companies rely on, and how businesses can use this data effectively to support their goals. We’ll also cover the importance of data quality, the benefits of using a reliable B2B data solutions, and what to look for when choosing one.
Where Does B2B Data Come From?
Businesses gather B2B data from two main sources: public data and private data. Both types play an essential role in building a complete and reliable picture of the companies and contacts that a business wants to target.
Public Data Sources
Public data is information that’s freely accessible and available for anyone to find online. Examples of common public sources for B2B data include:
- Company websites: These provide information on services, key personnel, and contact details.
- Social media profiles: Platforms like LinkedIn offer insights into a person’s role, experience, and company connections.
- News articles: News websites often cover industry leaders, business movements, and other valuable business-related details.
- Email signatures: Sometimes, contact information is collected through email interactions, including job titles and phone numbers.
Private Data Sources
Private B2B data, on the other hand, is not publicly available and typically requires payment or permission to access. Companies purchase or subscribe to these data sources for exclusive insights. Examples include:
- Paywalled websites: These include specialized business directories or industry publications.
- Financial and market intelligence: Private databases that provide financial reports, market trends, and company financials.
- Data as a Service (DaaS) providers: Companies that specialize in gathering and offering business data to clients on a subscription basis.
Types of B2B Data: First-Party vs. Third-Party
B2B companies rely on both first-party data and third-party data to fill their databases.
First-Party B2B Data
First-party data is information that a company collects directly from its audience. Examples include:
- Email lists: When visitors subscribe to a company’s newsletter, they provide contact information.
- Social media followers: Followers often indicate interest in a brand’s services or products.
- Existing customers: The data from current clients provides useful insights into what similar companies might need.
The downside of first-party data is that it can become outdated quickly. People frequently switch roles, companies, email addresses, and phone numbers. As a result, this data requires constant updating.
Third-Party B2B Data
Third-party data vendors collect and compile B2B data from multiple sources, then clean and organize it for companies to use in their sales and marketing processes. These vendors handle the heavy lifting of gathering, validating, and distributing data on a large scale.
Methods for Accessing Third-Party B2B Data
There are two primary ways that companies receive third-party B2B data from vendors:
- Traditional Method – Downloadable Files: Some providers offer B2B data in CSV or spreadsheet files, which companies then upload to their systems, such as a CRM. However, this approach requires frequent manual updates to keep the data fresh.
- Modern Method – Sales Intelligence Platforms: In contrast, many modern data providers offer access through an online platform that integrates with other business tools. These platforms are updated in real-time, ensuring that users have access to the most accurate data without manual intervention.
Challenges of Using Third-Party B2B Data
While third-party data can save time and effort, it does come with challenges. Data accuracy, completeness, and compliance vary from one provider to another. Some vendors may cut corners on quality, so it’s essential to evaluate providers carefully.
When selecting a B2B data provider, companies should consider:
- Data Accuracy: How often does the provider verify and update their data? Are they using advanced methods to ensure the data is current?
- Compliance: Is the provider following relevant data privacy laws, such as GDPR?
- Data Completeness: Does the provider offer all the information that your sales or marketing teams need to work effectively?
How Do Providers Verify B2B Data?
Since B2B data often comes from various sources, there can be discrepancies or conflicts between them. High-quality data providers use sophisticated technology, including algorithmic and machine-learning models, to process, clean, and verify their data. They also classify it based on specific criteria, like industry or company size, to make it more usable.
Most providers focus on automated verification due to the vast volume of data they handle. However, manual verification can add another level of accuracy. For instance, Cognism, a leading B2B data provider, uses a research team to manually verify mobile numbers in their global database. This extra step improves the reliability of their data, making it particularly useful for sales prospecting.
The Growing Market for Sales Intelligence Platforms
The sales intelligence market continues to expand, providing companies with more options for data solutions. With so many platforms to choose from, businesses can select one that fits their specific needs and budget. Sales intelligence platforms streamline the data integration process, allowing businesses to focus on building relationships and closing deals rather than managing data.
Final Thoughts on Leveraging B2B Data for Growth
High-quality B2B data is a crucial asset for any business looking to succeed in today’s competitive market. By sourcing reliable data, whether through first-party or third-party channels, companies can optimize their outreach, better understand potential customers, and make more informed decisions. The right data provider will offer not only accuracy and compliance but also tools to integrate and manage data seamlessly.
For businesses, investing in the right B2B data solution can mean the difference between a well-informed strategy and missed opportunities. Choosing a provider that prioritizes quality and compliance can set a company up for lasting success in their sales and marketing efforts.
