In today’s scenario, B2B data integration technology is the norm. The B2C marketing community has been quick to notice the positive effects of such integration activities, and they have adjusted accordingly. However, many B2B marketers have been slower to adapt to these changes.
Moreover, as the scope of e-commerce platforms grows for our markets, B2B data integration technology becomes something that you can’t afford to ignore. Such technology application can help your business generate the maximum revenue possible. Perhaps, this is why, over 57% of B2B companies in this report were shifting to online platforms for their everyday operations as opposed to traditional, offline platforms.
In the digitally advanced landscape of today, B2B integration technology is imperative to develop and maintain productive and revenue-generating relations. However, many integration solutions aren’t well-equipped enough to help your organization reach its full potential. Such B2B integration technology solutions don’t factor in modern considerations. Furthermore, a dynamic market requires solutions that can keep up with their pace.
If your B2B organization can benefit from monetizing your ecosystem, B2B data integration technology is the way to get there.
What Does B2B Integration Technology Mean?
For some of you, B2B data integration technology is a new, never-heard-before term. After all, before the hyper technologically advanced world of today, there wasn’t an explicit need for marketers to concern themselves with technology. However, business-to-business integration isn’t the brand new concept that many people assume it is. Many information technology-led organizations have successfully incorporated similar integration systems since the 1960s.
In simple words, B2B integration refers to the process of integrating, automating, and optimizing critical business processes. The business processes in question often go beyond the confines of the four walls of your organization. While the individual demographic differences remain, the one constant is the process of automating key business operations. Usually, demographic differences include geographic location, industry, company size, predicted profitability, lifetime value etc.
For most B2B companies, integrating technologies such as marketing automation software, website, online media, SEO, SMO, analytics etc. is important. Unless all of these are well-connected, there is no way that integration is possible. All in all, B2B data integration technology aims at automating essential external business operations. In the end, such processes can help you deliver customer experiences that assure a competitive edge.
The Biggest Benefits of B2B Integration Technology
As we said before, B2B data integration technology is an industry staple these days. More and more companies in the B2B sector are steadily adopting such measures to streamline their operations. Let’s take a look at the many benefits the B2B integration technology can bring to your organization.
Revamped Customer Service
As things in the B2B sector change, customer expectations have evolved too. Today’s B2B customer expects a level of service that’s far better and involved than it previously used to be. Today’s businesses have to deliver personalized, hands-on customer experiences because that’s now the norm. If you want to remain competitive in this business environment, you must be able to provide such experiences.
With B2B integration technology solutions, you have the opportunity to automate operations that are integral to delivering excellent customer service. Your teams have access to insights on customer behaviour and even forecasts. All of this helps tremendously in offering a personalized experience, necessary to prove that you know the customer well. Additionally, providing product-related information to the most interested clients can bring in more business. Offering personalized, hyper-specific recommendations can show clients that your brand understands them and that you may be a right fit for each other.
All in all, with B2B data integration technology, you have all the intel you need to deliver excellent customer service at your fingertips.
Reduced Overall Costs
According to Gartner, 40% of digital commerce companies have already made the switch to B2B data integration technology solutions. Such organizations make use of price optimization algorithms. Additionally, they make use of tools for configuring and quotes (CPQ), as well as for dynamically calculating product pricing, discounts and costing.
Usually, B2B products are costlier and more complicated to use. Additionally, there are multi-site requirements for product purchases and fluctuations in the cost as well throughout the quarter. In such a scenario, a B2B data integration technology solution can come in and help you strategize your pitches and communication keeping all these factors in mind. In turn, this leads to lowered costs across all operations.
Improved Order and Operation Efficiency
Efficiency is undoubtedly something that all marketers aspire to incorporate into their everyday activities. Not only does it make processes quicker, but it also helps you land more sales over time. Moreover, when all your sales activities align on an easy-to-access, integrated platform, efficiency will improve considerably.
Today, most B2B organizations are moving on to e-commerce platforms for improved efficiency. Moreover, they have found that B2B data integration technology services help with streamlining of otherwise-cumbersome paper-based operations. With such technology imbibed in your activities, customers will find it easy to buy, renew contracts, or just get in touch with you. This makes purchase decision-making a more positive experience for customers, earning you their cooperation and trust in the long run.
Moreover, technology such as Electronic Data Interchange (EDI) can standardize digital communication between your team and the customers. It serves as a platform to exchange invoices, electronic documents, purchase orders etc. For instance, businesses may utilize platforms like Invoice Simple which offers templates for invoicing. These serve as a simplified solution for uniquely complex processes, reducing manual work and potential errors. The addition of such a tool to your B2B data integration technology can elevate the efficiency of operation. Not only does it streamline the invoicing process, but it also enhances the professional image of your business in the eyes of your customers. Additionally, it has provisions that enable status updates and even the exchange of messages. Rather than juggling between a variety of different platforms to get everything done, a B2B data integration technology solution does it all in one place.
Additionally, such EDI is popular since around the 1980s. B2B companies in the fields of telecommunications, finance, logistics, retail, and even manufacturing now enjoy the benefits of efficient system-to-system integration. Reports suggest that the right B2B data integration technology solution can help in increasing order efficiency by as much as 80%!
Strengthened Customer Loyalty
In the case of any industry, customer loyalty is an invaluable asset. However, in the B2B scenario, customer loyalty is even more critical.
Through B2B data integration technology solutions, your organization will have a clear advantage. After all, you will be giving prospects and clients an unparalleled service that is fast, precise and customized. All of these come together to portray your brand as competent, knowledgeable and professional. These factors go a long way in building customer loyalty for your brand.
Add in the fact that you can also provide them with optimized prices, ordering ease, order visibility, and prompt service. When all of these come together with positive customer experience, you will be in a position to create a group of loyalists for your brand.
B2B Data Integration Technology: Case Study
Although for many of us B2B data integration technology is a relatively new concept, Chinese businesses have been reaping its rewards since much longer. Chinese corporations like Alibaba were earning almost a billion dollars revenue in 2014. This is one of the most widely known brands to adopt integration technology early on. In 2012, Amazon Supply launched its B2B platform, and in hardly two years they had over two million product offerings across 17 categories. Moreover, Forrester estimates that B2B e-commerce sales in 2020 would hit almost $1.1 trillion and amount to nearly 12% of all US B2B sales. All in all, big companies started shifting from traditionally offline processes to integrated online transactions.
Since the volume of sales is growing these days with more significant purchases and more frequently increasing budgets, businesses find B2B data integration technology extremely helpful. As companies want to optimize and monetize their entire ecosystem, these solutions become a necessity. As we move closer to 2020, a more technologically centralized environment becomes key to the maintenance and efficacy of your operations.
Why B2B Data Integration Technology Needs a Manual Data Solution Partner
Surely, by now you have understood that B2B data integration technology is incredibly necessary for the smooth functioning of your brand and business. This kind of integration surely has many benefits that it can bring. However, that doesn’t mean that it is without fault. Owing to the enormous amount of data processed and many operations that are integrated, there are some common problems that such technology cannot surpass. In such a scenario, it is necessary to have a manual data solution partner who can help you manage these problems effectively.
As B2B organizations use integration technology to bring in efficiency and monetize their operations ecosystem, they need a reliable data partner. Here’s how a Data Partner can help you out.
Preventing the Formation of Data Silos
In the case of B2B companies, there is more than one information system in place. Usually CRM, SharePoint, ERP, etc. are all used for data exchange and collection. However, employing multiple systems can lead to the formation of data silos. Such silos end up creating vulnerabilities that will eventually crop up in ugly ways, hampering productivity across operations. Traditional enterprise content management (ECM) systems that are usually used by B2B organizations take a single closed repository approach to data and records. Consequently, such systems can’t keep up with the abundance and rapid flow of data.
In such a scenario, a manual data solutions company is a great partner to have onboard. Thanks to their expertise in dealing with data from multiple channels, they are adept at managing, organizing and appending various data systems for a smoother processing experience. Additionally, with regular CRM cleaning services, you can assure that your information is well-cleaned and adjusted for maximum efficiency. B2B data integration technology demands that you maintain and append all your intel regularly.
Ensuring Efficiency
As we said before, B2B data integration technology can surely help you improve your operational efficiency. However, for any system to work at its optimum capacity, it is vital that regular cleaning and maintenance of database records becomes a part of your operations.
Data decay is a reality for marketers across industries. Moreover, such decay ends up making a massive dent in your bottom line over time. To ensure that your B2B data integration system works at optimum efficiency, it is necessary to battle data decay. With a CRM data cleaning service and regular appending of your technology systems, there will be fewer mistakes and wasted resources. By ensuring that the people you contact are viable leads, your team’s productivity will be at the maximum.
Moreover, your teams will have everything they need for performing at optimum efficiency. All in all, maximizing the potential of your integration technology can’t start without data solutions in place.
Creating Data Consistency
With integration systems, the data that comes in from multiple sources will be sorted as per different guidelines. Depending on a variety of factors, the various platforms you use will employ different formats. In such a situation, there is much confusion between your team and this, in turn, jeopardizes the primary function of integration technology – speed, ease and efficiency.
With a data solutions partner, your integration technology gets all the support that it needs to run efficiently. Here, services like data-scrubbing, and crm appending help create a more consistent format for the information that all your teams use. Such services help bring a systematic and well-organized demeanour to your overall technology systems, easing all critical processes for your teams. After all, a streamlined information format will help you optimize everything from lead generation and email marketing campaigns to reselling and upselling endeavours. Apart from bringing in consistency, such services also provide you with a comprehensive format for arranging and accessing intel.
Why Is BizProspex the Best Option for Your Data Solution Needs?
By now it must be evident that a data solutions partner is essential for the success of any B2B data integration technology. However, isn’t it even more necessary to pick a partner who understands your requirements and can consistently deliver on them?
This is where BizProspex comes in.
We are one of the best data solution company catering to B2B clients. Backed by a skilled team with industry-relevant experience, we’re well equipped to handle any challenge your company may face. Our team makes sure to understand what your core problem exactly is and only then do we get down to finding the most appropriate solution for it. With our CRM data cleaning services, help your customer relationship management software truly shine. BizProspex’s other services include manual data mining, IT Intent list generation, custom lead list generation, technology append solutions, skip tracing and even de-duping, scrubbing or merging data.
Our biggest strength is that we put our client’s growth and organizational goals at the forefront of every service that we provide. Whatever we do, is according to your end-goal and project requirements.
Additionally, we have a great track record with over 400+ satisfied clients from across the B2B industry. If you’ve not yet found a data service partner, who can take on your projects like a true partner, reach out to us today! Our 120% money back guarantee inclusive free sample might help you gauge our abilities with no risk.