The Crucial Role of Precise B2B Account Data in Accelerating SaaS Expansion
In order to grow SaaS, it’s necessary to attract people to subscribe to the service. This can be achieved if business leads can be translated into B2B partners.
In turn, the businesses will pass the opportunity to obtain a Software-as-a-Service option to their staff and customers. You need to gather and understand essential data about the company to work out if they will be a good fit for a B2B relationship.
Unpacking the idea of a B2B account
When your company does business with another company, it’s known as B2Bz: the two businesses interact with each other to make sales. The second business acts as the consumer or customer.
A B2B account is the commercial relationship between two businesses. This is as opposed to trading or commerce between a business and an individual. In both cases, there is a customer. With B2B, it is the business itself that is the customer.
Understanding B2B data
If you were to sell items to individuals, you would end up gathering data about them. In the same way, if your sales are B2B, then you’ll gather data about your ‘customer’ business. In order to get a clear picture of the businesses you are considering trading with, you will need to gather precise data of different kinds.
Digital Marketing's Role in B2B SaaS Growth
Digital marketing is crucial for B2B technology SaaS growth because it provides targeted, scalable, and cost-effective means to reach and convert potential clients, all while gathering invaluable data to refine strategies. In an era where information is pivotal, harnessing the power of digital channels not only ensures broader reach but also optimizes the efficiency of business operations.
This information may consist of data about the business’ demographic data, which helps them understand their customers. It’s a body of information about characteristics of who buys a product or service. Accessing and interpreting this data will allow you to understand things like their active audiences, according to details such as the age, location, gender and income of those who have actively bought what the business trades in.
This type of data, firmographic data, enables you to categorize the business’s customers according to factors such as the area they are in geographically, the industry they operate in and the technologies they use to operate. The information is useful for your marketing strategies.
When you are working on a marketing strategy and trying to understand your possible B2B customers, it is useful to get a clear picture of what is happening in the real world that will impact on the businesses and the industries in which they operate. This is known as chronographic data.
Another aspect of a potential B2B partner is the set of technologies they use. This technographic data helps you to understand the business’ account in terms of factors, such as the tools they use currently and how they implement their functions.
As you should be able to work out, based on the meaning of ‘intent’ (possibility of doing something because of desiring to do so), what intent data is. The important aspects help you to understand what business may be looking to establish a B2B account with your company. This is because they are interested in buying your products or services.
Finally, it will give you a very clear picture of who the other business caters for, if you understand who buys the product or service. This is customer data, that refers to the information gathered by that business about their customers. It includes personal data, as well as information about their behavior and demographics.
The role of decision-makers data and contact information
It’s all very well building up precise data about possible B2B leads, without knowing who to contact to begin the relationship. They need to be someone who can make high-level decisions about whether the business may want to enter into a B2B commercial relationship with your business.
It’s vital to ensure you have the correct details about these people, or your efforts to turn leads into customers may be worthless.
Understanding the link between accurate B2B data and the growth of SaaS
Software-as-a-Service (SaaS) is a service that offers customers the opportunity to access specific software on the cloud, without having to buy an individual license. The customer pays a monthly subscription fee, for which they receive a license for use of the software, usually on more than one device. They also get any updates of the software and benefit from troubleshooting and adaptations.
For businesses, this option of subscribing to the software like this means it can be accessed from anywhere, using any device. They will benefit from all the features of the software. In a B2B relationship, the SaaS business supplies the software service to the other company.
To identify possible business ‘customers’ for a B2B commercial relationship, gathering precise account and contact data about the company and its decision-makers is vital. This data can be used to turn leads into customers, which will enable SaaS growth.