It's no secret that customer data you collect yourself (first-party data) is invaluable when it comes to generating leads. But first-party data has some limitations. Many marketers don't have easy access to it and, even if they do, the data often lacks depth.
Third-party data can help you supplement and enhance your first-party data.
A key growth factor in a B2B company is determined by how well the business generates leads.
Start-ups and businesses seeing a slowdown in new clients often find purchasing marketing data from a data broker valuable. By choosing your data partner wisely, you can use third-party data to your business' advantage.
How does a B2B marketing database work?
A B2B marketing database is a list of companies you are looking to attract as customers.
Among the information on the list are business names, decision maker names, email addresses, phone numbers - and other details like location and annual revenue.
Using this customer database, your marketing or sales teams can connect with prospects and send them direct marketing messages related to your products and services.
What are the reasons for buying an email list?
B2B companies usually invest a lot of resources into building their own databases.
The benefit of this method is you get to know the market and companies that fit your niche.
It's not always realistic to start from scratch. A small business on the verge of entering a new market might not even know where to start with lead generation. It's likely that you're entering unfamiliar territory when you enter a new market, launch a new product, or expand internationally. Buying business data lists can help you establish a contact base in your new market.
This data can also be used for market research, or as a supplement to other lead generation methods.
Buying a marketing database
Find a consultative data supplier
Getting high-quality leads requires a focus on quality over quantity. You may end up with more records than you need from some data suppliers. But data like this is unlikely to benefit your marketing efforts.
Instead, look for data brokers who provide consultation services as well. Before providing a data count, they will assess your needs and target audience and offer their insights.
Make sure you choose sectors and contacts who would have a need for your products or services. By doing this, fewer people will be targeted, but a greater percentage will be interested in your message, therefore giving you a higher potential ROI.
Ensure the list complies with industry standards and legal requirements
Due diligence when buying a data list is your responsibility, so be aware of this when selecting your database supplier.
The General Data Protection Regulation (GDPR) exists to protect individuals' personal data. Commercial entities (like limited companies) are not covered, although sole trader and partnership information is.
However, B2B marketing is not free from data protection principles. The Privacy and Electronic Communications Regulations (PECR) limit businesses' use of email, texts, and phone calls when marketing to other businesses.
Business-to-business marketing falls under GDPR if the business details you use contain personal data instead of business data. As an example, GDPR and PECR must be followed when sending an email to [email protected]. But you won't be subject to data protection laws if you send a marketing email to another business, such as [email protected]. That doesn't contain personal information, so it doesn't come under GDPR.
Nevertheless, for PECR, you must identify yourself and inform them of how to opt out.
Third-party marketing lists can be used for telephone marketing purposes
That said, it's important to follow the rules. Prior to purchasing or using the data, ensure telephone numbers have not been registered with the Telephone Preference Service, which contains all telephone numbers that have opted out of receiving any telephone marketing calls,
Decide what criteria to use in selecting your list
To buy a list, you should be able to select criteria that are relevant to your target market.
Business-to-business (B2B) data can be refined by company size, industry, turnover, number of employees, job titles and more.
You should question whether the data is going to be of value to you if the list cannot be tailored in this way.
Start pitching clients right away and skip the research
You must work hard to build a mailing list for your business. Buying email addresses saves you time and allows you to pitch clients sooner. A benefit like this can be especially attractive if you are entering a new market.
Making the most of your email list
When email marketing was first introduced, bulk messages were common.
But, as email became increasingly common, people wanted to eliminate as much irrelevant or unnecessary communication as they could. This has led to a broader definition of "email spam".
Keeping your email marketing on the right side of the fence is key. This means less bulk emailing, more individualised messages, and more precise segmentation of prospect lists.
Sending emails to your contact should feel like speaking directly with them, not to dozens of people like them.
The more categories or subsets you divide your list into, the more effectively you will be able to target and personalise the emails you send using your marketing databases.
Copyright 2022.Featured post made possible by More Than Words Marketing Limited