Finding the best B2B data provider for your business might feel like a tall task. It is a challenge that is worth taking on. If you get the right B2B data, it can boost the growth of your business.
If you don’t know what the best B2B data provider might look like, don’t stress! Often you hear of B2B data in the business world, but you might not know what it is. If that is the case, you are in the right place. We will look at exactly what it is and what it can do for a business. This article will take you through the step-by-step guide to finding the best B2B data provider.
What is a B2B Data Provider?
To know how to find the best B2B data provider, you need to know what to be searching for. Let’s start simple. B2B data is business-to-business data.
You may have heard of businesses using B2B data for their marketing strategies. This is because the information on a data list is contact information. These contact details can create lead generation. Buying B2B data lists is a great way to build a toolbox for the best marketing campaign possible. You may have also heard of B2C data. This is business-to-consumer data. B2C data lists consist of similar data but are for individuals rather than a whole company.
A B2B data provider is a company that supplies customers with business-to-business data lists. These lists should be quality-checked if you buy from the right provider. A B2B data provider is also sometimes called a data provider.
Now you know what B2B data is and what a B2B data provider is. Next, it will help to learn what is on those lists. The contact details often include things like phone numbers, email addresses, company names, and staff lists among other things. B2B data providers make databases with lots of these details that can be industry-specific. Then businesses within those industries can buy the data lists.
What Makes the Best B2B Data Provider?
The next question is, what makes the best B2B data provider? This is a good question. There are so many things to the job that can make one company the best B2B data provider for you. What the best B2B data provider looks like for you, might be different to the next. However, there are some key points that set the foundation for the best B2B data providers.
The Best Data
One of these points is the actual data lists themselves. No good provider will supply you with data lists riddled with spelling mistakes. The data should be accurate too; without duplicates of information. The best B2B data provider will be sure to supply only top-quality data that has been through checks. These checks can cut out mistakes and take out expired data.
The best B2B data provider will also give you a good experience. If you work directly with customers in your business, you will know how important customer service is. An experience with a business can make a lasting impression. It can also form your opinion if you want to buy from them again. B2B data providers should also be treating you with the same respect you treat your customers.
Sometimes things do go wrong. Even with the best B2B data providers. But a good provider will also take care of you after the sale. Data can become outdated very quickly. This can be a big problem if you don’t have your data regularly checked. You might end up calling wrong numbers, or even numbers on the TPS register.
The TPS register is the UK’s telephone preference service. If a number is on this list, they are essentially ‘do not call lists. This is because the owner of the number has requested to not receive cold calls. If a number is registered on this list, you must not call it. Legally, you must have your data checked every 28 days. The TPS can fine you up to £500,000 if you call a registered number. This is because the general rule is to wait 28 days for a number to appear on the TPS register.
Suits Your Needs
Expect good turnarounds. The best B2B data providers will have speedy delivery and a reasonable price. The budget is also something to keep in mind. Before investing in a B2B data list, think about what you want and what you can afford. Do your research and find out who offers what. When you find the best B2B data provider for you, the price will match your budget. The data lists will also match the quality you desire.
If you are not sure what you can afford, when researching, ask different providers for quotes. This way, you can figure out what you can get for the price you need. Learn what is on the lists you can afford then decide on the best provider.
Another thing to keep in mind whilst researching is what exactly you want. This goes beyond just the budget and customer experience, but to the core of the service. You need to know what kind of data you want to buy. Different B2B data lists will be made up of different industry-specific data.
Proof In the Pudding
The final way to find the best B2B data provider is by trying it out. As with many things, the proof is in the pudding. The best B2B data provider will give you the best results. So, try using the data lists and see what it can do for your business. This leads me to the next point. It is not just the experience that is important when investing in B2B data, but the outcome is important too.
You now know what the best B2B data provider might look like and what kind of service they might provide. So, we can move on to what it can really do for your business.
What The Best B2B Data Provider Can Do For You
As I mentioned before, the term B2B data or B2B marketing data is mentioned lots when talking about marketing strategies. This is because data lists are designed to aid a great marketing campaign.
One of the key things that a B2B data list can do is improve your reach. When businesses try to contact people for lead generation, they might spend lots of time figuring out who to call. This can waste valuable time, either of your own or of your employees. You could work much more efficiently with a data list.
B2B data providers allow you to gain a new audience and make connections that would otherwise take a long time. Not only can data lists help you make new connections, but they can improve your long-term relationships. When you have more time to spare and more contacts, you can begin to build bonds.
If you build a level of trust, a lead is more likely to work with you. Once they have done business with you and have had a good experience, it can lead to return customers. When businesses in your industry know your name, you start to build a good reputation. Through word of mouth and referrals, you can become a known name.
Even if a cold call doesn’t lead to a sale, it can create a connection. As we have all seen from the pandemic, connections are vital to the survival of a business. Especially through tough times. Businesses leaned on each other for support. Everyone was keen to help out when industries were being knocked down by the pandemic. These kinds of bonds must be formed first by reaching out.
The Best B2B Data is GDPR Compliant
One of the next things to think about is compliance. It is absolutely essential that your data is GDPR compliant. If you take one thing from this article, be it that the best B2B data will always be GDPR compliant. The data you buy should never be putting your business at a legal risk.
What is GDPR?
That might seem scary if you have no idea what compliancy or GDPR is. If so, do not worry. We can go through a brief summary now. But if you want a full and in-depth understanding of the ins and outs of GDPR, check out our blog. We have multiple articles about GDPR compliance. One is the complete guide to B2B marketing data. There is another on our site all about how to source GDPR-compliant B2B marketing lists. If you read them through, you might feel more equipped to start looking into buying the data.
In short, GDPR stands for general data protection regulations. The data protection act of 2018 put in place new and more strict rules about how data is handled. They were designed to protect the data owner’s privacy.
You can find out if your provider’s data is compliant by asking for their compliance documentation. Also, there is another way. Check compliance by running the provider’s registration number through the ICO. They must be registered with the Information Commissioner’s Office to legally handle personal data.
There are three main reasons you should follow data protection laws. The first is obvious… it is the law. Your business will be in trouble if you fail to comply with the law. This can result in high fines that cost your business more than it can handle. If you fail to comply, you can be left with fines of up to 20 million euros.
Another reason is the damage it can do to your business beyond the bank. A business’ reputation is what keeps it running. Customers want a brand they can trust. If you get caught out not handling private information properly, you lose that respect. A reputation can be damaged so quickly in such an inter-connected world. Globalisation has meant businesses can’t get away with things in the same way they used to. Social media videos of poor customer experiences go viral. The same applies to failing to be GDPR compliant.
Reason number three is the most important. At the heart of the matter, you should want to follow the law anyway, because it protects your customers. You should want to look after your clients. A business should care about the people or organisations that it works with. Any potential customer will want to feel secure and that your business is reliable.
Where to Look For B2B Data Providers
Having looked at what makes the best B2B data provider, it is now the time to find them. There are a couple of ways to find out where the best B2B data provider will be. One of the ways is simple. Just look online. You can do a few searches and see what pops up. Type in industry-specific keywords and see what lands on the first page of your search engine. Have a look through different sites and figure out who is providing the right kind of data for you.
But don’t just trust what appears first. One provider’s site may have lots of traffic, but no good reviews. The next way to find the best B2B data provider is the old-school method. Ask other businesses!
You can always ask for recommendations from businesses that have used data providers. Read reviews online, or ask for testimonials directly from a provider.
Another thing you could try is searching for local agencies. As mentioned before, building strong bonds between businesses is essential. It can be even more beneficial if you build a local community. We have a whole article dedicated to explaining the benefits of using local businesses. Working with people who are passionate about the local economy as much as you can create magic for an area. Read here to learn why we love Worcester.
Hopefully, you now feel more prepared to invest in data lists with the best B2B data provider. You will know you made the right choice when you start seeing the results. When your business grows and you can’t keep up with the expansion, you will know you hit the jackpot.
Just remember, look for industry-specific data providers, check the accuracy, read reviews and make sure the data is GDPR compliant. This way, you will find the best B2B data provider for your business.