The Importance of Different B2B Data Groups

Photo of author

( — May 10, 2022) — Business-to-business services generate a lot of data that can, later on, be used to improve the service itself or find new customers. Gathering and analyzing this data allows B2B companies to stay sharp in their production and marketing and keep up with the markets. When considering purchasing or gathering B2B data, one is always better off understanding different data types and every B2B data group. From B2B sales data to internal procedures data, every source of information can be helpful for a company that understands how these groups can benefit them.

Categorizing B2B data

Generally speaking, B2B data is any kind of data point generated by B2B companies or firms that could become clients for such companies. Thus, looking from the perspective of a B2B firm, any business that is our potential competitor or customer is generating B2B data. And we are doing it as well.

When categorizing B2B data we should start with the major divide into internal data and external data. Internal data is the data B2B companies collect about themselves. The company usually does it on its own, although it can hire some outside help if specific technology or expertise is needed. Internal data may include all information about the internal procedures of the company, their efficiency, and their effect on the bottom line. Additionally, every revenue B2B data group, such as the company’s sales data is considered internal.

External data, on the other hand, is the data company gathers about the outside market conditions and other firms, whether potential clients or competitors. This type of data is usually provided by third-party data suppliers as it is nearly impossible for most companies to collect all the information they need on their own. External B2B data types are, for example, firmographics and technographic, as well as company intent data. Also, such information as online job postings data forms a B2B data group, as it can be used both as competitive data and as company growth data about potential customers.

These general categories of data can then be further grouped in many various ways. As there is virtually no limit to how a particular company might look at the information they have from an analytical point of view, the same data points can belong to multiple groups. The most important thing to know about these groups is how to use them for your benefit.

What are the benefits of particular B2B data groups?

The main advantages of utilizing data for business decisions are common for pretty much every B2B data group. These include but are not limited to higher-quality business decisions, better-informed strategies, increased procedural efficiency, and avoidance of costly errors.

But we can also look at the more particular ways how specific B2B data groups advance business goals and benefit the company. Here are some examples.

  1. Firmographic data allows for market segmentation, which is the key to a successful sales strategy for a B2B company. All kinds of general data about the company that allows it to measure against other firms are considered firmographics. This includes the company’s age, profit rates, size, growth trends, and similar data points. Having this sort of information allows for classifying both clients and competitors. With such classes in place, it is easier for all departments from marketing to sales to direct their attention and efforts more efficiently.

  2. Internal data helps to conduct a high-quality self-analysis for the company. This allows us to see where the company is losing money, which processes are lagging, and what actions may have caused the loss of customers or opportunities. Thus, for example, judging from the changes in such B2B data groups as sales data or the time taken to do certain tasks, firms can decide how personnel changes affect the efficiency of the related departments. Knowing this enables companies to maximize the effectiveness of these procedures and thus their return value.

  3. Intent data is defined as the B2B data group concerned with customer online activity. When companies analyze how clients behave on their website, what they click on, do they create an account, and so on, they try to determine if it shows buying intent. This once again allows focusing marketing and sales efforts to work on closing the deals when such intents are recognized. Additionally, it helps to notice online visitors with buying intent sooner in the future and determine which aspects of the website work to raise such intent.

  4. Demographic data about the personnel of the company of interest assists in market segmentation as well. Furthermore, such demographic data about the decision-makers of the company helps sales and marketing to prepare better approach strategies. This data includes information about the age, education, interest, and other key features of the employees of the company. Combined with other key groups, demographics paint a full picture of the business of interest.

Finding the right B2B data provider

One final thing to consider regarding B2B data groups is where you get your data from. As mentioned, for most companies turning to B2B data providers is a necessity in order to capture all the knowledge they need. 

However, as with everything else in life, some providers are better than others. So, the real question is finding the right one for you. The key advice is to always check the reputation of the supplier, how well they are received, and how long they have been in the business. Additionally, it is always important how many different B2B data groups they can offer. Find a trusted provider with many types of data to choose from and you should be alright.