Building Your B-to-B Marketing Database
The single most important tool in B-to-B is, arguably, the marketing database. Without a robust collection of contact information, firmographic and transactional data about customers and prospects, you are at sea when it comes to customer segmentation, analytics and marketing communications of all sorts, whether for acquiring new customers or to expand the value of existing customers. In fact, you might call the database the “recorded history of the customer relationship.” So what goes into a marketing database? Plenty.
First, let’s look at the special characteristics of B-to-B databases, which differ from consumer in several important ways:
- In consumer purchasing, the decision-maker and the buyer are usually the same person—a one-man (or, more likely, woman) show. In business buying, there’s an entire cast of characters. In the mix are employees charged with product specification, users of the product and purchasing agents, not to mention the decision-makers who hold final approval over the sale.
- B-to-B databases carry data at three levels: the enterprise or parent company; the site, or location, of offices, plants and warehouses; and the multitude of individual contacts within the company.
- B-to-B data tends to degrade at the rate of 4 percent to 6 percent per month, so keeping up with changing titles, email addresses, company moves, company name changes-this requires dedicated attention, spadework and resources.
- Companies that sell through channel partners will have a mix of customers, from distributors, agents and other business partners, through end-buyers.
Here are the elements you are likely to want to capture and maintain in a B-to-B marketing database.
- Account name, address
- Phone, fax, website
- Contact(s) information
- Title, function, buying role, email, direct phone
- Parent company/enterprise link
- SIC or NAICS
- Year the company was started
- Public vs. private
- Employee size
- Credit score
- Fiscal year
- Purchase history
- Purchase preferences
- Budgets, purchase plans
- Survey questions (e.g., from market research)
- Qualification questions (from lead qualification processes)
- Promotion history (record of outbound and inbound communications)
- Customer service history
- Source (where the data came from, and when)
- Unique identifier (to match and de-duplicate records)
To assemble the data, the place to begin in inside your company. With some sleuthing, you’ll find useful information about customers all over the place. Start with contact records, whether they sit in a CRM system, in Outlook files or even in Rolodexes. But don’t stop there. You also want to pull in transactional history from your operating systems-billing, shipping, credit—and your customer service systems.
Here’s a checklist of internal data sources that you should explore. Gather up every crumb.
Ruth P. Stevens consults on customer acquisition and retention, and teaches marketing at companies and business schools around the world. She is past chair of the DMA Business-to-Business Council, and past president of the Direct Marketing Club of New York. Ruth was named one of the 100 Most Influential People in Business Marketing by Crain's BtoB magazine, and one of 20 Women to Watch by the Sales Lead Management Association. She is the author of Maximizing Lead Generation: The Complete Guide for B2B Marketers, and Trade Show and Event Marketing. Ruth serves as a director of Edmund Optics, Inc. She has held senior marketing positions at Time Warner, Ziff-Davis, and IBM and holds an MBA from Columbia University.