Data is the lifeblood of any thriving business in the digital age. With so many B2B data suppliers claiming to offer ideal data, it can take time to narrow down the one that is the best match for your business. There are a lot of sources out there claiming that they have the finest data, but have you ever wondered what sets them apart?
Here, we'll walk you through selecting a B2B data supplier, from understanding what to look for to conducting the necessary research and making an informed decision. Read below to find out more.
Importance of Choosing the Right Data Provider
The importance of choosing the right data provider cannot be overstated. Simply put, a data provider is an entity from whom a company or organization obtains the data upon which its decisions and daily operations are based. Hence, it is essential to check that the information provided is accurate, reliable, and valuable to the business.
Collaborating with the wrong data provider can result in several problems, such as spending more money than necessary on data, exposing the company to security or privacy threats, and making choices based on inaccurate or out-of-date information.
On the other hand, having access to reliable data may enhance the quality of decisions, boost productivity, and give the business a leg up in the marketplace. In addition to the short-term benefits, having the right data provider can also have long-term benefits.
A credible data provider will be capable of adapting to the evolving requirements of the business in addition to providing up-to-date information. An organization can focus on its core competencies, leveraging the data provided to make strategic decisions and drive growth.
Types of B2B Data Providers
When choosing a data provider, it's important to determine and understand the different types of providers available. This will allow you to choose the service provider most effectively meets your company's requirements.
B2B Proprietary Data Providers
Proprietary data providers gather data through unique sources such as crawlers, email opt-ins, and other in-house data-gathering technologies. This data is derived from a vendor's daily business practices or proprietary data-gathering technologies.
Data accuracy is one of the primary benefits of choosing a proprietary data provider. Because the vendor is in charge of collecting, filtering, and updating the information, they are closer to the source, and thus the data is more likely to be reliable.
Additionally, the staff at a proprietary data provider will already be well-versed in the data they give. As data collectors and verifiers, they should be able to address any questions or issues you may have. Furthermore, they are more likely to deliver excellent service since they are vested in addressing any concerns as rapidly as possible.
However, there are certain downsides to relying on proprietary data sources. Improper maintenance of data is a major issue. Since the data comes from the vendor's regular business operations, it may need to be validated or updated regularly, leading to data decay.
To avoid this, inquire about the vendor's data verification procedures and whether or not users may readily update their own information.
B2b Data Resellers
A B2B data reseller is a third party that collects information from various sources to resell it to other businesses. Most companies offering B2B contact services fall into this group.
Among the many benefits of working with a B2B data reseller is access to the helpful resources they provide. Many resellers provide value-added services such as special tools for uploading and managing data and dedicated account managers. Because they focus on specific industries, they are better positioned to connect you with the right people for your business.
A major disadvantage is the intermediary steps required to get the reseller access to the data. Since the reseller was not directly engaged in the data collection or verification, they may need to be aware of the data's update frequency or accuracy. This can lead to questionable data accuracy. This risk can be reduced by examining the reseller's reputation via online reviews and recommendations from other customers.
B2B Data Aggregators
B2B data aggregators collect information from both paid and organic sources. These are examples of directories, websites, publicly available materials, and other private sources.
Using a B2B data aggregator is beneficial because it supplies information. By compiling information from several sources, they can provide a greater quantity of data and more details on certain people or businesses.
The reliability of the data is a significant limitation. There might be more duplication or inconsistency in the data because of the number of sources used. In addition, importing data into a CRM system might be challenging since the information collected from various data owners needs to be more consistent. Data owners and resellers from whom aggregators collect data often place limits on what the aggregators may offer to safeguard their own data list business.
How to Evaluate a B2B Data Provider?
Any B2B company's performance is directly tied to the decision of which data supplier to choose. However, choosing which data source is the best fit for your firm can be challenging because there are so many to choose from. Here are some important things to look at:
Check for Data Accuracy
One of the most crucial factors to consider when assessing a B2B data source is the accuracy of the data. Fresh and reliable data may speed up your pipeline, help you focus on potential customers, and set the stage for your outreach. Ask your provider how they get data to guarantee accuracy. Most of it should come from trusted sources. Also, check the provider's data refresh rate. Your team shouldn't prospect to former decision-makers because people change employment often.
Ensure the Completeness of the Data
When choosing a B2B data source, ensure the information they supply is complete and contains valuable information. Complete data helps you target new prospects more effectively and make smarter choices. If you want to ensure your data is complete, you can ask your provider how extensively they collect it. The more in-depth they are, the better your ability to find and connect with potential customers. Given that your sales approach is likely to evolve over time, it's usually ideal for working with a well-established provider in all markets.
Test the Data Providers' Sample Data
Testing its sample data is integral to assessing a B2B data supplier. You can find out if the information is reliable and useful for your business. To achieve this, you may ask for and examine a subset of the provider's data to see whether or not it meets your needs, is up-to-date, and can be integrated into your systems. This will give you a good insight into the quality of the data and whether it is relevant to your organization before committing to purchase a full dataset.
Check Data Provider's Data Compliance
If you're looking into a B2B data supplier, one thing you should look for is their compliance with the standards set by international authorities. Issues of data privacy and compliance are becoming increasingly significant, and new rules and regulations are being produced internationally every year. . If you take the time to verify data compliance, you can rest certain that your business is partnering with a reliable data supplier that respects your data's privacy in accordance with local and international laws.
Look for Affordability
Since you will be partnering with a data provider for the long term, you must consider costs too. Cheaper solutions may not be the best for your sales and marketing efforts. However, you should evaluate the value of excellent data to your company and determine how much you can expect to gain from your investment. To discover the finest supplier for your business, compare price plans and features. If a data source is confident in its data and service, it should back it up with a promise of accuracy. This will assure you that you are spending money wisely on high-quality data that will benefit your business.
Research the Provider's Reputation and Track Record
Determine the provider's credibility and delivery performance. Examine reviews and testimonies from existing clients to learn more about the provider's track record with similar businesses. It's also wise to see whether the provider is credentialed by any organizations or groups in the field. This can be a useful method for gauging the provider's reliability and the accuracy of the data they give
Evaluate the Data Provider's Documentation and Support Resources
When choosing a B2B data provider, it is also crucial to consider the quality of the company's documentation and support services. Accessing and using the data effectively requires clear and thorough documentation, while a helpful support team is there to assist with any problems or queries that may arise.
How to Use B2B Data Provider's Data in Sales and Marketing?
Once you've decided on a reliable B2B data source, you'll want to put their data to good use. A few examples of how to put a B2B data provider's information to use in marketing and sales are as follows:
Market Research: Data from B2B information providers may be utilized for in-depth market analysis. You may find development possibilities and devise methods to grasp them by analyzing data on industry trends.
Targeted Outreach: Targeting new prospects using B2B data is one of the most apparent uses. Using data on sectors, job titles, and decision-makers, you may develop highly focused lists of potential consumers and send tailored messages.
Lead Qualification: B2B data providers may qualify leads. You can determine which leads are most likely to buy your product or service based on business size, revenue, and industry.
Personalized Marketing: Personalizing marketing communications increases conversion rates. Email, social media, and direct mail can be personalized with B2B data provider data.
Identifying Decision Makers: B2B data providers may identify corporate decision-makers. Sales teams may reach out to the proper people in a firm and boost their chances of landing a contract.
Account-Based Marketing: B2B data providers may help you establish account-based marketing campaigns for specific clients. Using decision-maker data, you may customize messaging and campaigns for individual organizations.
Choosing Nymblr as Your B2B Data Provider
Finding the appropriate data supplier is more crucial than ever since just 3% of sales teams have 75% of representatives achieving quota. Since there is no universally applicable answer, you and your team will need to prioritize your needs and identify the service that best meets those demands.
NYMBLR is the go-to source for any and all of your business's data needs. Over 700 million decision-makers are at your disposal, and you'll have access to verified leads of the most accomplished business people. NYMBLR's outbound sales automation solutions are among its strongest features since they were developed with the needs of B2B sales teams and organizations in mind.
By using the real-time email and contact validation tool, users can be certain that the information they get is accurate and that they will really be able to communicate with their intended targets. NYMBLR can help any business generate more leads and expand quickly, no matter the size.
Other key features include:
· 80+ million US-based contacts
· APIs (available to everyone)
· Unlimited users
· Real-time email verification
· Team management
· White Label experience
Cost Efficiency
The low cost of utilizing Nymblr is perhaps one of its most attractive aspects. Sales teams need affordable access to reliable B2B databases to stay within their budgets. This implies that companies of all sizes can afford access to up-to-date information such as emails, phone numbers, social media accounts, and corporate websites.
Conclusion
The right B2B data provider can undoubtedly change the game of your company's sales and marketing efforts. Using the approaches described in this guide, you may identify the best data provider for your company. If you have any queries, you can contact us, and we'll be happy to help!
