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How to Identify the Right Corporate Database for your Business?

The success of your B2B marketing campaign is directly reliant on the right database. An accurate database ensures that your sales and marketing teams don’t waste time chasing false leads. It is the innate nature of B2B marketing data to decay by a significant percentage every month. Choosing the best corporate database will give your business the much-needed extra edge to outdo competitors. Here’s why you need the right B2B database:-

  • A good database provides fresh and highly relevant contacts, for your sales and marketing team to pursue.
  • It ensures a steady flow of leads passing into your sales funnel.
  • Liaising with a seasoned database specialist will ensure your compliance with the latest data security norms.
  • It increases the speed and productivity of your marketing executives. There is a direct focus on wooing leads, rather than unearthing and painstakingly compiling contact information in the first place.

Identifying the Right Corporate Database

Before you opt for any service agreement, get a thorough understanding of how regularly the database is updated. Also, adjudge the relevance of the database vis-à-vis your specific marketing requirements. To obtain the exact fit in terms of cost-effectiveness, accuracy, efficiency, and intuitiveness of data, here are some valuable tips:-

Reliability is Paramount

There has to be a high level of transparency in terms of sourcing and updating the marketing data. A reliable data service provider will never withhold crucial information or try to mislead you with unverified figures. Be it in terms of data standardization, segmenting, cleansing, or verification, the reliability of the database expert is paramount. 

  1. Opt for an AI-driven Corporate Database

A majority of businesses today are realizing the crucial fact that manual databases have lost their relevance. No matter how tediously one maintains them, the chances of errors are still quite high in the manual compilation. On the other hand, AI-driven databases offer the following advantages:-

  • Automated and intuitive prediction of high-potential leads
  • Use intelligent insights to differentiate between genuine buyers and wayward visitors
  • Customized data profiling/segmenting as per the marketing team’s requirements
  • Enables precision-based targeting of your ICP (Ideal Customer Profile)
  • Considerably reduces the time, money, and tediousness of the manual updating process
  1. Specify the type of B2B data required

There are three broad categories of data for B2B marketers. Based on your marketing campaign, budget, and target audience, you need to decide which one will best suit your needs:-

  • Behavioural Database– This AI-driven database is centred on user feeds and cookies tracking browsing patterns and purchases. Other sources include online forms, surveys, the use of free online tools, and so on. If your marketing campaign is largely centred on online engagement levels and digital marketing, this is the apt choice.
  • Organizational and Demographic Database– For businesses that largely rely on telephonic and email marketing, this corporate database fits all the right brackets. It enlists all the prospective businesses that one can approach in specified geographical zones. Furthermore, it provides the contact details and designation of the appropriate person to contact in each company.
  • Market Research Database – If you own or manage a company in a high-risk industry, relying on this predictive database is a good idea. In-depth market research is conducted by qualified data scientists. From investment opportunities to consumer trends and promotional advice, this is particularly helpful for crafting the right marketing strategy.
  1. Avoid Brokers and Resellers

In recent years, there has been a massive boom in the B2B database market. This has been in response to the high demand for verified, high-potential data. There are quite many brokers and resellers that are providing marketing data at throwaway prices. You might be tempted to opt for these. But remember, liaising with a seasoned database specialist team will ensure that your database will always remain relevant and usable. In the absence of verifiability and precision from a reseller, you might be delivered an unorganized database filled with errors.

Conclusion

Be it channel sales management, field sales reporting, cold calling, or email marketing, your database is the crux of all. A successful collaboration with a proficient database company can streamline your marketing and operational hassles to a great extent. With the above points in mind, making the right choice will certainly be a lot easier.

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