Terms

B2B Data Erosion

What is B2B Data Erosion?

B2B Data Erosion refers to the gradual degradation of the accuracy and quality of business-to-business (B2B) data over time. This phenomenon occurs as businesses change key elements such as addresses, contact information, and staff, rendering previously accurate data obsolete. It is a significant challenge in B2B environments due to the direct impact on marketing effectiveness and customer relationship management.

Causes of B2B Data Erosion

To effectively address data erosion, it’s important to understand its primary causes. Here are some of the most common factors contributing to this issue:

  • Business Changes: Mergers, acquisitions, and relocations can alter company details and contact information.
  • Employee Turnover: Changes in employment or roles within companies can lead to outdated contact lists.
  • Market Dynamics: Evolving industries and markets can shift the relevance of data over time.

Impact of Data Erosion on B2B Companies

The consequences of B2B data erosion are far-reaching and can undermine various strategic initiatives. Key impacts include:

  1. Reduced Marketing Efficiency: Outdated data can lead to misdirected marketing efforts and wasted resources.
  2. Decreased Sales Effectiveness: Sales teams may face challenges reaching the right decision-makers, affecting closure rates.
  3. Compromised Customer Insights: Inaccurate data can skew analytics and insights, leading to poor strategic decisions.
  4. Erosion of Customer Relationships: Inability to maintain up-to-date contact information can damage client relations and retention.

Strategies to Combat B2B Data Erosion

Combating data erosion requires proactive measures and the integration of robust data management practices:

  • Regular Data Audits: Conduct systematic reviews of data to identify inaccuracies and gaps.
  • Data Update Initiatives: Implement processes to regularly update data through direct verification with clients or utilizing third-party data services.
  • Leveraging Technology: Employ data management tools and platforms that automatically track and update changes in B2B data.
  • Employee Training: Ensure that staff understand the importance of data accuracy and are trained in data upkeep protocols.

Comparing B2B and B2C Data Management Challenges

While both B2B and B2C sectors face data management issues, their challenges are distinct due to the nature of their relationships and market dynamics. B2B data management often deals with more complex and multi-layered information pertaining to businesses, requiring a deeper level of detail and accuracy. B2C data, while vast, typically involves more straightforward consumer details and benefits from higher volume, quicker feedback loops, making it somewhat easier to manage and update.

Benefits of Addressing B2B Data Erosion

Prioritizing the management of B2B data erosion offers significant advantages:

  • Enhanced Marketing Precision: Accurate data enables more targeted and effective marketing campaigns.
  • Improved Sales Results: Access to reliable data increases the efficiency of sales strategies and customer acquisition.
  • Stronger Customer Relationships: Maintaining up-to-date information fosters trust and reliability in business relationships.
  • Better Decision Making: Quality data supports superior analytics and business intelligence, leading to better strategic decisions.

Other terms

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HTTP Requests

An HTTP request is a message sent by a client, like a web browser, to a server to ask for a resource, such as a web page or an image.

HTTP Requests

Escalations

Escalations are the process of moving a customer issue or sales opportunity to a more senior or specialized team member for resolution.

Escalations

Marketing Attribution

Marketing attribution is the process of identifying which touchpoints contribute to a conversion and assigning value to each of them.

Marketing Attribution

Qualified Lead

A qualified lead is a prospect vetted as a good fit for your product. They match your ideal customer profile and show genuine interest.

Qualified Lead

Sales Manager

A Sales Manager leads a sales team, setting goals, analyzing performance, and developing strategies to drive revenue and meet targets.

Sales Manager

Representational State Transfer Application Programming Interface

A Representational State Transfer (REST) API is a web service that uses a simple, stateless architecture for systems to communicate online.

Representational State Transfer Application Programming Interface

Sales Performance Management (SPM)

Sales Performance Management (SPM) is a suite of tools and processes that help businesses monitor, analyze, and boost sales team performance.

Sales Performance Management (SPM)

CRM Data

CRM data is the information businesses use to manage customer relationships. It covers contact details, purchase history, and communication logs.

CRM Data

Gated Content

Gated content is premium online material, like an ebook or webinar, that users can only access after providing their contact information.

Gated Content

Target Account List

A Target Account List (TAL) is a focused list of high-value companies that a business specifically aims to convert into customers.

Target Account List

Buyer's Journey

The buyer's journey maps the path a potential customer takes, from first becoming aware of a problem to making a final purchase decision.

Buyer's Journey

Gamification

Gamification applies game mechanics like points, badges, and leaderboards to non-game activities to boost engagement and motivate users.

Gamification

Churn

Churn, also known as customer attrition, is the rate at which customers stop doing business with a company over a given period.

Churn

Sales Demo

A sales demo is a presentation where a sales rep shows a prospect how a product or service works and solves their specific problems.

Sales Demo

Omnichannel Sales

Omnichannel sales is a strategy that integrates all physical and digital sales channels to create a seamless, unified customer experience.

Omnichannel Sales

System of Record

A System of Record (SoR) is the authoritative data source for a specific type of data. It acts as the single source of truth for an organization.

System of Record

Revenue Operations (RevOps)

Revenue Operations (RevOps) is a business function that aligns a company's sales, marketing, and customer service teams to drive predictable revenue.

Revenue Operations (RevOps)

Request for Information

A Request for Information (RFI) is a formal process for gathering information from potential suppliers before issuing a more detailed proposal.

Request for Information

Lightning Components

Lightning Components is a UI framework for building dynamic web apps for mobile and desktop devices on the Salesforce Lightning Platform.

Lightning Components

Call Analytics

Call analytics is the practice of analyzing phone call data to extract insights, track key metrics, and improve overall business performance.

Call Analytics

Commission

A commission is a service charge paid to an agent for a transaction. It's typically a percentage of the sale, rewarding performance directly.

Commission

Affiliate Networks

Affiliate networks are platforms that act as intermediaries between publishers (affiliates) and merchant affiliate programs.

Affiliate Networks

Conversion Path

A conversion path is the journey a visitor takes to complete a desired goal, such as making a purchase, filling out a form, or subscribing.

Conversion Path

Customer Acquisition Cost

Customer Acquisition Cost (CAC) is the total cost a business spends to gain a new customer. It includes all sales and marketing expenses.

Customer Acquisition Cost

Video Selling

Video selling uses personalized video messages to engage prospects, build rapport, and guide them through the sales funnel to close more deals.

Video Selling

Marketing Operations

Marketing Operations (MOps) is the engine of a marketing team, managing the technology, processes, and people to run campaigns effectively.

Marketing Operations

Inside Sales Metrics

Inside sales metrics are quantifiable measures used to track the performance, activities, and effectiveness of an internal sales team.

Inside Sales Metrics

Analytical CRM

Analytical CRM analyzes customer data to uncover actionable insights, helping businesses make smarter decisions and improve customer interactions.

Analytical CRM

Mobile App Analytics

Mobile app analytics involves collecting and analyzing data from mobile apps to understand user behavior and optimize the app's performance.

Mobile App Analytics

Customer Centricity

Customer centricity is a business approach that puts the customer at the heart of every decision, aiming to build loyalty and long-term value.

Customer Centricity

Outbound Lead Generation

Outbound lead generation means proactively reaching out to potential customers who haven't yet expressed interest to introduce them to your brand.

Outbound Lead Generation

Programmatic Display Campaign

Programmatic display campaigns use automation to buy and sell digital ad space in real-time, targeting specific audiences across the web.

Programmatic Display Campaign

WordPress

WordPress is a free, open-source content management system (CMS) that allows you to easily create, manage, and publish websites and blogs.

WordPress

Cloud Storage

Cloud storage is a service model where data is stored on remote servers and accessed from the internet, rather than on a local drive.

Cloud Storage

Voice Search Optimization

Voice search optimization is the process of optimizing your content, SEO, and online listings to appear in and rank for voice-based searches.

Voice Search Optimization

On Target Earnings

On-Target Earnings (OTE) is a salesperson's total potential pay, combining base salary and commission for hitting their sales quota.

On Target Earnings

ETL

ETL, short for Extract, Transform, Load, is a data integration process for moving raw data from various sources to a central data warehouse.

ETL

Webhooks

Webhooks are automated messages sent by an app when a specific event occurs. They push real-time data to another app's unique URL.

Webhooks

Data Privacy

Data privacy is an individual's right to control their personal information, including how it's collected, processed, stored, and shared.

Data Privacy

Process Builder

Process Builder is a Salesforce automation tool that lets you create 'if/then' business processes with a user-friendly visual interface.

Process Builder

Sales Bundle

A sales bundle groups multiple products or services into a single offering, often at a discounted price to provide greater value to customers.

Sales Bundle

Inside Sales

Inside sales is a remote sales process where reps sell products or services via phone, email, and other digital tools instead of in person.

Inside Sales

Customer Success

Customer Success is a business strategy focused on proactively helping customers achieve their goals with your product or service.

Customer Success

Sender Policy Framework

Sender Policy Framework (SPF) is an email authentication method that lets you specify which mail servers can send emails on behalf of your domain.

Sender Policy Framework

Customer Buying Signals

Customer buying signals are the actions, behaviors, or statements a prospect makes that indicate they are moving towards a purchase decision.

Customer Buying Signals

Product Recommendations

Product recommendations are a marketing strategy that uses customer data to suggest relevant products, boosting sales and customer engagement.

Product Recommendations

Lead List

A lead list is a curated database of potential customers (leads) with contact information and other key data for sales and marketing outreach.

Lead List

Sales Demonstration

A sales demonstration is a presentation showing a prospect how a product or service works and how it can solve their specific problems.

Sales Demonstration

End of Quarter

“End of Quarter” (EOQ) refers to the final weeks of a business quarter when sales teams rush to meet quotas, often leading to a flurry of deals.

End of Quarter

Customer Retention

Customer retention refers to the strategies and activities a company uses to prevent customer churn and encourage them to continue buying.

Customer Retention

Sales Calls

A sales call is a real-time conversation between a salesperson and a prospect, aiming to persuade them to purchase a product or service.

Sales Calls

Data Hygiene

Data hygiene is the practice of ensuring your customer data is clean, accurate, and up-to-date by removing duplicates and correcting errors.

Data Hygiene

Service Level Agreement

A Service Level Agreement (SLA) is a contract defining the level of service between a provider and a client, including metrics and penalties.

Service Level Agreement

Sales Strategy

A sales strategy is a comprehensive plan that outlines how a business will sell its products or services to achieve its revenue goals.

Sales Strategy

Application Programming Interface Security

API security is the practice of protecting application programming interfaces from attacks, preventing data breaches and unauthorized access.

Application Programming Interface Security

Customer Retention Rate

Customer Retention Rate (CRR) is the metric that measures the percentage of customers a company has kept over a specific period of time.

Customer Retention Rate

Data Visualization

Data visualization is the practice of translating information into a visual context, like a map or graph, to make data easier to understand.

Data Visualization

Video Email

Video email involves embedding a short video directly into an email. This lets recipients watch your message without leaving their inbox.

Video Email

Competitive Advantage

A competitive advantage is a unique edge that allows a business to produce goods or services better or more cheaply than its rivals.

Competitive Advantage

Email Verification

Email verification is the process of confirming that an email address is valid and deliverable, which helps improve campaign performance.

Email Verification

Siloed

Siloed describes the isolation of data, teams, or systems within a company, which blocks collaboration and creates operational bottlenecks.

Siloed

Discount Strategies

Discount strategies are pricing tactics used to attract customers and boost sales by temporarily reducing the price of products or services.

Discount Strategies

Custom Metadata Types

Custom Metadata Types store application configurations as metadata. This makes them easily deployable between different Salesforce environments.

Custom Metadata Types

Intent leads

Intent leads are prospects who show buying signals through their online actions, indicating they're actively looking to make a purchase.

Intent leads

GPCTBA/C&I

GPCTBA/C&I is a sales qualification framework for understanding a prospect's goals, plans, challenges, timeline, budget, and authority.

GPCTBA/C&I

Chatbots

Chatbots are AI-powered programs that simulate human conversation. They interact with users via text or voice, typically for customer support.

Chatbots

Kanban

Kanban is a visual project management method that uses a board to visualize workflow, limit work-in-progress, and maximize team efficiency.

Kanban

Multi-touch Attribution

Multi-touch attribution is a marketing analytics method that credits multiple touchpoints on the customer journey for a conversion.

Multi-touch Attribution

Buying Process

The buying process is the journey a customer takes from first realizing a need to making a final purchase decision and evaluating it afterward.

Buying Process

Geo-Fencing

Geo-fencing creates a virtual boundary around a real-world location. It triggers actions on a device when it enters or exits this area.

Geo-Fencing

Interactive Voice Response

Interactive Voice Response (IVR) is an automated phone system that uses voice and keypad inputs to interact with callers and route their calls.

Interactive Voice Response

Digital Strategy

A digital strategy outlines how your business will use online channels, data, and technology to achieve its goals and connect with customers.

Digital Strategy

Draw on Sales Commission

A draw on commission is an advance payment a salesperson receives against future earnings, which is later repaid from earned commissions.

Draw on Sales Commission

Account View Through Rate

Account View-Through Rate (AVTR) is the percentage of target accounts that see an ad and later visit your website without clicking on it.

Account View Through Rate

Sales Pipeline Velocity Formula

The sales pipeline velocity formula is a key metric that measures how quickly deals move through your pipeline and turn into revenue.

Sales Pipeline Velocity Formula

Sales Development Representative (SDR)

A Sales Development Representative (SDR) is a sales specialist who finds and qualifies new leads, building a pipeline for the sales team.

Sales Development Representative (SDR)

Value-Added Reseller

A Value-Added Reseller (VAR) is a company that adds features or services to an existing product, then resells it as an integrated solution.

Value-Added Reseller

Stakeholder

A stakeholder is any individual, group, or party that has an interest in an organization and the outcomes of its actions.

Stakeholder

No Spam

“No Spam” is a commitment to sending only relevant, solicited messages. It means avoiding bulk, unwanted emails to respect the recipient's inbox.

No Spam

Lead Generation Software

Lead generation software helps businesses automate finding and capturing potential customers' contact information to build sales pipelines.

Lead Generation Software

End of Day

End of Day (EOD) refers to the close of business hours. It's a common deadline for tasks and reports to be completed before the workday ends.

End of Day

Network Monitoring

Network monitoring is the continuous process of tracking a computer network's performance and health to detect and resolve issues proactively.

Network Monitoring

InMail Messages

LinkedIn InMail messages are a premium feature that lets you directly message any LinkedIn member, even if you're not connected to them.

InMail Messages

Cold Email

A cold email is an initial outreach sent to a potential customer with whom you've had no prior contact, aiming to introduce your business.

Cold Email

Behavioral Analytics

Learn about behavioral analytics, including implementing behavioral analytics successfully, & key metrics in behavioral analytics.

Behavioral Analytics

Nurture Campaign

A nurture campaign is a series of automated messages designed to build relationships with potential customers and guide them toward a purchase.

Nurture Campaign

Decision Buying Stage

The decision stage is where a well-researched buyer chooses a vendor. They compare specific products and pricing before making their final purchase.

Decision Buying Stage

Logo Retention

Logo retention is a key B2B metric that measures a company's ability to retain its customers, or 'logos,' over a specific period.

Logo Retention

CSS

CSS, or Cascading Style Sheets, is the code that styles a website. It controls the colors, fonts, layout, and overall look of a web page.

CSS

Workflow Automation

Workflow automation uses rule-based logic to run a sequence of tasks that would otherwise require manual human effort to complete.

Workflow Automation

Sales Training

Sales training is the process of honing a salesperson's skills and knowledge to enhance their effectiveness and drive sales success.

Sales Training

Sales Development

Sales development is the process of identifying and qualifying potential customers to create a pipeline of sales-ready leads for closers.

Sales Development

Generic Keywords

Generic keywords are broad search terms that lack specific details like brand or location. They attract a wide audience with less specific intent.

Generic Keywords

Sales Cycle

A sales cycle is the series of steps a company takes to close a new customer. It starts with prospecting and ends with a signed deal.

Sales Cycle

Intent Data

Intent data tracks a user's online behavior—like searches and site visits—to identify signals that they are ready to make a purchase.

Intent Data

Business to customer

Learn about business to customer, including maximizing B2C sales strategies, B2C vs. B2B: unveiling differences, & core principles of B2C success.

Business to customer

Lead Velocity Rate

Lead Velocity Rate (LVR) is the growth rate of your qualified leads, measured month-over-month. It's a key indicator of future revenue.

Lead Velocity Rate

Programmatic Advertising

Programmatic advertising uses AI and real-time bidding to automate the buying and selling of digital ad space, targeting specific audiences.

Programmatic Advertising

Account-Based Sales

Account-Based Sales (ABS) is a focused B2B strategy where sales and marketing teams treat high-value accounts as individual markets of one.

Account-Based Sales

Demographic Segmentation in Marketing

Demographic segmentation divides a market into groups based on traits like age, gender, and income, allowing for more targeted marketing efforts.

Demographic Segmentation in Marketing