B2B marketing needs to be a much more precision-targeted ball-game altogether compared to B2C, which is more mass and ubiquitous. The focus should be on quality of database rather than the volume, because both the audience and budgets are severely constrained in numbers. Hence hand-picking of the data, and picking them up from the right sources can hold the key.
There has been a proliferation of ‘Database vendors’ in recent times boasting of millions of database of professionals, profiles with high credit card limits, businessmen, doctors etcetera. However, any B2B marketer who has tried them out would have a really frustrating story to tell. More often than not, the data would be old, obsolete and inaccurate. These vendors play on volumes, hence they will lure you with ‘large databases’ which in fact would contain just a sliver of your target profiles, while the rest is junk.
A superior quality database, even small, can make a big difference to your marketing efforts. Using a method of ‘Data Quality Scoring’ or ‘Lead Scoring’ can help you in segregating good data from bad, especially if you are using data from a secondary source or past records. This method, in layman terms, checks the rich-ness and relevance of each data-point (profile) on quality dimensions and assigns a score to each as a match against your business. The process, though quite tedious and intensive, can further help you in creating sub-profiles and plan your communication in a more customized, personalized manner, thus increasing the chances of higher conversions. If your business requires you to connect with HR Heads of organizations, a tool like LinkedIn Sales Navigator would be helpful in segregating specific profiles and creating Data Quality Scores basis their industry exposure, past experience, mutual connections and other key points that align most with your business.
It would be a smart decision to look towards like-minded businesses for database, rather than database vendors. Indian cities host a large number of trade exhibitions and events every year, and the number is growing steadily, like ‘Vibrant Gujarat’ ‘AceTech’, ‘Auto Expo’ et al. If you are targeting textile manufacturers, a good way to start would be to explore events and exhibitions firms who would have direct access to the manufacturers participating regularly in textile exhibitions.