Guest Blogger – Bernice Grossman

Why B-to-B Data Is So Important

Money makes the world go ‘round and business makes money.  Data is the driving force in the B-to-B arena.  It feeds all of the channels; mail, phone, digital, bill board, TV, radio, etc.,  Marketing feeds sales and sales puts the money in the coffers.  Marketing and Sales must work hand-in-hand – and that’s why accurate and up-to-date data is the most important element in the marketing / sales continuum.  Just think:

D&B says that business data is said to degrade at the rate of 3% to 6% per month.  This means a third of your information on business buyers and prospects may be useless by the end of every year!

They say that:

  • A new business opens every minute.
  • A new business files for bankruptcy every 8 minutes.
  • A business closes every 3 minutes.
  • A CEO changes every minute.
  • A company name change occurs every 2 minutes.

The annual rates of change for a variety of data elements, (also from D&B) show:

  • In a year, 20.7% of the business postal addresses on your file will have changed.  So, if you are not keeping on top of it, nearly 21% of your business mail may be undeliverable.   And it can get worse:  If your customer is a new business, the rate of change is higher, at 27.3%.
  • Phone numbers change at the rate of 18% overall, and 22.7 % among new businesses.  No wonder the sales force is always complaining that the data is no good.  And then there were cell phones.
  • Even the company name is unstable, changing at the rate of 12.4% among all companies and a 36.4% among new businesses.  How are you going to sustain a business relationship when you don’t have the current company name?

So what’s a BTB marketer to do?  Start to learn the NEW TRICKS that consumer marketers are already using.   Here are my top 4:

  1. integrating sophisticated data cleansing/hygiene and de-duplication software with marketing automation systems
  2. using social media to upgrade existing information about a company / contact and adding behavioral info
  3. using new methods for BTB linking software to help connect contacts
  4. finding the new sources for connecting the BTB contacts as they continue to move inside their own companies and across other companies

Don’t get caught up in the vocabulary – delve into these new processes – they will all have very positive impacts on your BTB data.

BTB Data Management  – that’s just one reason why I will be at DMA 2011 – see you there!

Bernice Grossman, President, DMRS Group, Inc.

Bernice Grossman will be leading a panel on Event-Triggered Marketing Solutions on Monday, October 3, at 11:15 at DMA2011! And if you’re a fan of B-to-B and feel inspired to learn more about it, this year we have launched the B-to-B Symposium – a two-day event full of the latest and greatest in B-to-B marketing!

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