The most exhausting and challenging task most B2B enterprises face is building and maintaining a customer database that is accurate and up-to-date. This requires investing a great amount of time, energy, and cost in selecting, qualifying, and building lists to generate quality B2B leads and close deals.
Before proceeding further let’s understand,
What Exactly Is B2B List Building?
B2B List Building refers to an operation in which you create a qualified contact list with whom you will communicate and convert as your customers.
To be more precise,
Let me explain it through reverse engineering –
You have clients – But from where did you started your process, of converting leads to your clients? There should be a database (List of contacts to approach), right? When you get to the roots, that is called B2B list building.
B2B list building is highly beneficial for any business, as this proffers vital information about the professionals you are seeking for. This is the most important service or steps for any business as this is the origin of your client acquiring journey.
Every company that provides B2B lists ensures to provide a condensed and highly targeted B2B list. Seldom is the case, when a company provides a fresh and updated B2B list and it gets too late when they recognize their mistake, and till the period they have already invested a lot of time and money in a piece of work that is prominent, but turns out to be a futile one.
Point To Note – Never rely on the stale or outdated database. Always schedule your database cleansing process in regular intervals.
How Only B2B Approaches To B2B List Building Process?
1. Know Your Ideal Customer Profile (ICP)
It will be unavailing efforts if you don’t know, whom to target and why to target. When you understand this, it will be easier to weed out those who are not aligned with your business.
Researching might be a bit time-consuming because you have to fetch information about those leads who are in actual need of your product/services.
Research Upon –
- Industry Type
- Company Size
- Key Challenges In the Job Role
- Primary Responsibility
And the generated list clears the way for the sales team. Putting together all the information summoned and analyzing the data you will be equipped with the Buyer’s Persona entailed to a sales prospect list.
2. Identify Target Group
Once you’ve established your customer database,the next step is to reach out to the key Decision-Makers in the companies. At first, this might be challenging, but once you achieve it, the benefits are endless.
2.1 Who Are Decision Makers?
These are the employees within a company who are authorized and have the power to make strategic decisions to acquire, expand or invest.
At Only B2B we leverage technology. Once the accurate data is collected we feed it to the CRM. By implementing few filters, specifics of the campaigns, – the most relevant list is generated. This saves time and reduces human errors.
Generally, spending time on Email List building is beneficial as a study shows it has more conversion rate than any other channel.
3. Compile And Verify The B2B List
Before beginning with our Email Marketing Campaign or whichever is appropriate to your organization it is mandatory to rigorously practice a database cleansing.
Check for Duplicates, incorrect email Ids, or any incomplete contact information. And once you perform the data compiling, standardization, and validation procedure you may start with your campaign.
In our case, we begin with Email Marketing.
Why We Use Email Marketing?
Email Marketing is the oldest and direct way of communicating with your prospects. It is considered the best way to nurture your leads and turning them into sales, Which is why the savviest entrepreneurs always demand Email Marketing campaigns to convert leads to customers.
- According to the latest study by OptinMonster, “55%-60% of the consumers subscribe to the brand’s email list to get notifications and messages.
- Email Marketing has better engagement and Click-through rate (CTR) compared to Social Media.
- Email Marketing can generate higher ROI – $38 for every $1 spent. That is a staggering result of 3800%
Source: Help Scout and Agency Analytics
B2B List Building is certainly a strenuous task to perform, but once done, it has endless benefits. It has to be embedded with database cleansing practices which we discussed in our last blog, else the efforts will be unproductive.
The prior point you should take into consideration is, to know your ideal customer. If you understand this perfectly the targeting and reaching out to your decision-makers gets uncomplicated. Do not forget to reinforce your lead generation process with technology it helps to reduce errors and time spent.
Vikas Bhatt is the Co-Founder of ONLY B2B, a premium B2B lead generation company that specializes in helping businesses achieve their growth objectives through targeted marketing & sales campaigns. With 10+ years of experience in the industry, Vikas has a deep understanding of the challenges faced by businesses today and has developed a unique approach to lead generation that has helped clients across a range of industries around the globe. As a thought leader in the B2B marketing community, ONLY B2B specializes in demand generation, content syndication, database services and more.