If you want to know more about the impact of firmographic data on sales and how you can use it, here’s what you need to know. 

Companies are increasingly adopting a data-driven approach to their business processes, including sales. This is especially true for B2B companies who want to make the most out of data, but even though many companies are already utilizing data, not many use it with a focused account-based approach. 

In other words, companies need to have a directed approach toward data and translate it into more sales. That’s where filmographic data can help, as it helps companies define the details of potential clients, similar to how demographics help B2C companies. 

With proper data, B2B companies can easily recognize firms they can focus on and have the information they need to engage them correctly. Today we’ll talk about how to use this data to improve sales. 

Make sure you get quality firmographic data 

Data gathering isn’t simple, especially if you want to use that data for focused and coordinated business moves. Firmographic data can help your organization only if it’s accurate and valuable. You will get poor leads if you try to create a sales pipeline using narrow or inaccurate data. 

Take the time to determine the scope of data you need, find suitable data sources, and enrich it with additional information when possible. Still, many companies can’t set up the whole data infrastructure and don’t have to. 

Instead of collecting firmographic data in-house, you can outsource this process to a third-party company with relevant technologies and knowledge. Why waste resources on something that isn’t your primary business focus when you can leave it to the professionals? 

Use paid ads with utmost precision 

Starting a paid ad campaign on search engines or social media is one of the ways companies try to boost their sales. However, if you want your paid campaign to be effective, you need to have the correct information about your potential customers and target them to perfection. 

That’s where firmographic data comes into play, as it can help you find your customer personas accurately. Not only can you target people more effectively, but this information also lets you learn how to approach them, what kind of messaging they like, and how to create ad visuals. 

All these things are vital to an effective ad campaign, so if you want to start one, use firmographic data. 

Understand your sales ROI 

Firmographic data can give you valuable answers about specific leads, including how much revenue you could potentially gain out of them. In other words, this is a precious thing to know regardless of your business industry or business model. 

It’s always great to have information that can tell you potential outcomes, risks, and rewards. Firmographic data can involve company size or what kind of product package a particular company uses. 

However, getting richer data might help you get more complex insights like learning the chances of a particular company requiring added services or upgrades in the future. All of this information can help you understand what leads you should target. Ultimately, it’s all about learning where to invest your money if you want to see significant returns. 

Improving your messaging with data 

Understanding where your potential customers are in their current business landscape is essential. Why? For example, imagine you’re sending messages to a lead and talking about how your products or services can help them expand and grow while they are downsizing. 

Not only will you waste time preparing for that client, but they will almost certainly reject your offer. Creating personalized and relevant messaging is a vital part of grabbing potential clients’ attention. You need information about the individuals you’re communicating with and their organizations.

With firmographic data, you will clearly understand where the organization is now, its short-term goals, and where they plan on being in the future. 

Create and identify new market segments 

Data analytics has always been valuable for finding new business opportunities and discovering unknown insights. Going through your firmographic data can help you learn about who is interested in your solutions or products from a specific niche, region, industry, etc. 

Segmenting your audience is always a good idea. The more information you have about potential clients, the more you will be able to segment them into different groups to fine-tune your marketing and sales strategies. 

The bottom line 

If you want to sell effectively to your customers, it’s essential to understand them and predict their needs. Firmographic data lets you look at your clients as business organizations with unique needs, goals, challenges, and advantages. 

This information lets you create rich profiles about your customers to facilitate a steady influx of qualified leads and traffic.