B2B Transactions Data
When it comes to staying competitive in the B2B space, having a clear understanding of transactional data is essential. Fortunately, there are datasets available that provide business professionals with valuable insights on B2B transactions. These datasets can help businesses gain a better understanding of customer behavior, diversified data, point of sale data, procurement data, and technology data, among others. Here we’ll look at how each type of data can provide unique insights into B2B transactions and how they can be used to track spend globally and by industry.
Consumer Behavior Data
Consumer behavior data is information collected about the behavior of consumers—their preferences, habits, and spending decisions. This type of data can help companies better understand customer attitudes, behaviors, trends, and more. For B2B transactions, this can help businesses to track customer trends and better understand customer needs in different markets. By tracking consumer behavior data, B2B companies can more accurately target and market to potential customers.
Diversified Data
Diversified data is data from multiple sources that can help businesses gain a clearer picture of complex customer insights. By combining data from multiple sources, companies can gain a better understanding of customer preferences and buying habits, which can lead to more targeted marketing campaigns and more effective customer engagement campaigns. For B2B transactions, this type of data can help businesses gain insights into customer preferences, informing product development and marketing efforts.
Point of Sale Data
Point of sale data is information collected at the time of purchase, such as payment type, customer location, time of purchase, and product purchased. This data can help retailers better understand customer behavior, allowing them to make more informed decisions about product assortment, pricing, and promotions. For B2B transactions, this type of data can help businesses gain insights into customer buying cycles and more accurately target customer segments.
Procurement Data
Procurement data is information that is collected through the process of sourcing, pricing, and contracting for goods and services. This type of data can help businesses identify potential contractor or supplier risks, track customer orders, and monitor supplier performance. For B2B transactions, this type of data can help companies better understand current customer needs and adjust marketing strategies to target the right customer segments.
Technology Data
Technology data is information collected from technology-based services and devices, such as customer relationship management systems, mobile devices, and web analytics tools. This type of data can help companies understand technology usage trends, providing insights into customer behavior and preferences. For B2B transactions, this type of data can help companies make more informed decisions about product design, marketing campaigns, and customer engagement.
By utilizing these datasets, B2B companies can better understand customer needs and preferences, allowing them to better track spend globally and by industry. This type of data can help businesses more accurately target customer segments and create effective marketing campaigns that are more likely to lead to successful B2B transactions.