Defying Data Decay: How B2B Marketers Can Keep Their Data Fresh

Did you know that on average, data decays at a rate of 30% per year? In the world of business, where mergers, acquisitions, and job changes are common, maintaining up-to-date B2B data has become an indispensable necessity for B2B marketers aiming to stay ahead of the curve. In this blog post, we delve into the macro factors influencing the state of databases, alongside essential considerations for B2B marketers when procuring data from third-party providers.

Keeping on top of M&A activity

In 2023, the M&A world saw ExxonMobil purchase Pioneer Natural Resources and Chevron purchase Hess Corporation as well as Pfizer’s acquisition of Seagen, and Cisco’s acquisition of Splunk.

Reflecting on the top M&A deals of 2023, it's evident that such corporate reshufflings inevitably result in job losses, role changes, and updated contact information. This flux underscores the critical need for B2B marketers to rely on data providers that prioritize data freshness and accuracy.

As a reliable B2B data provider, LBDigital ensures that essential fields, including parent company URLs, brands, and subsidiaries, are meticulously updated. These are maintained in a corporate family tree available to marketers. Details like these empower marketers with invaluable insights into organizational structures, enabling targeted outreach and strategic decision-making.

Staying ahead of job transitions

Interestingly, the period from January to March typically witnesses a surge in job transitions, as employees seek new opportunities and companies realign their workforce. For example, the U.S. labor market saw an increase of 353,000 jobs in January, 275,000 jobs in February and 303,000 jobs in March, indicating a hike in the pace of hiring. This job growth highlights the urgency for businesses to rely on data providers that prioritize maintaining accurate and current records. At LBDigital, we require a minimum of 5+ declared touchpoints for data hygiene, accuracy and validation. Our data was recently evaluated by Truthset and was found to be among the highest quality in the industry, especially for small businesses.

In addition to accuracy, B2B marketers should thoroughly evaluate the comprehensiveness of the dataset. This entails confirming that it encompasses relevant industries, geographies, and company sizes that resonate with their target market. Moreover, it's imperative to ensure that the available fields within the dataset align with the specific requirements of their marketing strategies. At LBDigital for example, we provide the following:

• First Name

• Last Name

• Address

• City

• State

• Zip

• Email

• MD5 Email

• Phone

• Business Name

• Sales Volume

• Industry

• Title

• Company Size

By leveraging comprehensive and current datasets, businesses can construct identity graphs, enabling precise customer targeting and personalized engagement strategies. Additionally, access to accurate data facilitates cost savings in purchasing decisions and uncovers growth opportunities for sales teams, thereby enhancing overall operational efficiency and competitiveness.

In a climate characterized by constant flux and transformation, the ability to harness accurate and up-to-date B2B data is a strategic imperative. It's not just about possessing data; it's about having the right data, at the right time, to navigate the complexities of the modern business landscape.

Learn more about LBDigital’s B2B data offering or get in touch with us directly to discuss your needs.