Data sharing is transforming B2B directories into powerful growth tools. Here’s why it matters and how it works:
- Better Data Quality: Shared data reduces errors - 70% of CRM data becomes outdated annually, costing businesses time and money.
- New Growth Opportunities: Cross-industry data sharing uncovers trends, links services, and drives innovation.
- Market Expansion: Insights from shared data can increase revenue, reduce churn, and streamline operations.
- Stronger Partnerships: Clear agreements, secure systems, and aligned goals ensure successful collaborations.
With global data volume projected to reach 175 zettabytes in 2025, B2B directories must evolve into collaborative ecosystems to stay relevant. This guide shows how to leverage data sharing for better results while addressing security and compliance challenges.
Key Benefits of B2B Directory Data Sharing
Sharing data turns static directories into dynamic, value-driven platforms, offering a range of advantages that elevate their role in business operations.
Improved Directory Content Quality
Bad data can cost businesses a fortune. Studies show that 70% of CRM data becomes outdated, incomplete, or inaccurate over time. Sales teams, for example, lose around 500 hours each year dealing with incorrect prospect information. Data integrity is constantly under threat due to factors like:
- 60% of employees changing roles within their organization annually
- 23–30% of email addresses becoming invalid each year
- 18% of phone numbers changing annually
- 20% of physical addresses requiring updates annually
"Organisations that promote data sharing will outperform their counterparts on most business value indicators." - Gartner
Platforms such as The B2B Ecosystem tackle these challenges with advanced data validation and frequent verification. These techniques not only ensure that directories remain accurate but also reduce the time and resources wasted on manual updates. Beyond accuracy, shared data can spark collaboration and innovation across industries.
Cross-Industry Growth Opportunities
Sharing data between industries opens up new growth avenues. For instance, the partnership between Salesforce and Snowflake introduced data-sharing features that have reshaped how businesses work together. This type of collaboration allows B2B directories to:
- Link complementary services across different sectors
- Detect emerging market trends
- Drive innovation through shared knowledge
A great example is the financial services industry, where shared data helps improve fraud prevention by analyzing transaction patterns across various business types. Similarly, manufacturing companies use external data - like weather forecasts, labor strikes, or civil unrest reports - to fine-tune their supply chain strategies. These integrations not only boost efficiency but also pave the way for new market opportunities.
Expanding Markets with Shared Data
Data sharing also fuels market expansion by delivering actionable insights and boosting operational efficiency. Take Heap, for example: their data-sharing initiative led to a 20% increase in total contract value, a nearly 50% drop in customer churn, and an eight-figure revenue stream from their Heap Connect product.
The secret? Breaking down data silos while keeping security intact. Modern B2B directories achieve this by:
- Setting clear partnership goals
- Enforcing strong data governance
- Using advanced analytics to uncover market opportunities
- Monitoring performance metrics tied to business outcomes
In marketing, for instance, shared data between advertisers, publishers, and agencies has provided deeper insights into market trends. This has resulted in more effective campaigns and better ROI. By offering these insights, directories position themselves as valuable strategic partners for businesses looking to grow.
Creating Strong Data Sharing Agreements
Sharing data effectively requires well-thought-out agreements, covering everything from partner selection to ongoing management.
Choosing Compatible Partners
Select partners whose data-sharing capabilities align with your goals. As Joseph Santos, Director of the Data Advisory Team at ZoomInfo, explains: "It's not about having the most data, but having the right data that aligns with your objectives."
Key factors for evaluating potential partners include:
-
Data Quality Metrics
- How often data is updated
- Match rates with your existing data
- Variety of data sources
- Depth of industry coverage
-
Technical Compatibility
- Integration capabilities
- Standardized data formats
- API availability
- Real-time synchronization options
"Perhaps the most important aspect of vendor evaluation is how the vendor can become an extension of your team - a true partner in your data journey." – Joseph Santos, ZoomInfo
Once you've chosen a partner, ensure the data is protected with strong legal and technical measures.
Data Security and Legal Requirements
Security and compliance are crucial for any data-sharing arrangement. Scott Barsness, Architect/Solution Engineer at BOK Financial, highlights: "Data sharing is going to get bigger, but there have to be more security controls and mechanisms around it. I think it's still new and it sounds good, but there are still a lot of unknowns."
Important security components include:
-
Regulatory Compliance
- Adherence to GDPR and CCPA
- Compliance with industry-specific rules
- Regular audits
- Detailed security documentation
-
Technical Safeguards
- End-to-end encryption
- Access control systems
- Regular security assessments
- Incident response protocols
Setting Partnership Goals
Define goals that are clear, measurable, and time-sensitive. Regularly review and adjust these goals to ensure alignment. Focus on:
- Metrics that are specific and measurable
- Objectives that benefit both parties
- Deadlines that are clearly defined
- Regular evaluations for progress and adjustments
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Using Shared Data to Improve Directories
Leverage systematic data validation, market research, and advanced analytics to enhance the effectiveness of directories.
Methods for Ensuring Data Quality
A solid approach to data quality involves:
- Automated checks to maintain real-time accuracy.
- Data profiling to spot irregularities.
- Unified data sources for consistent and reliable information.
Here’s how to implement it:
- Initial Data Assessment: Evaluate new data for completeness, correct formatting, and accuracy.
- Continuous Monitoring: Keep an eye on key metrics like data freshness, accuracy, and consistency.
- Error Resolution: Use root cause analysis to document and fix any issues while implementing corrective measures.
High-quality data not only highlights market gaps but also uncovers potential partnerships.
Identifying Market Opportunities
Accurate data is key to uncovering new market opportunities for B2B directories. Perform a content gap analysis by:
- Mapping customer journeys to identify unmet needs.
- Tracking search behavior to see what users are looking for.
- Comparing your coverage with competitors to find areas for improvement.
Market Trend Analysis can further refine your strategy by:
- Monitoring growth in emerging industries.
- Observing changes in user search habits.
- Analyzing query patterns across different geographic regions.
AI Tools to Strengthen Data Analysis
AI-based tools like the QuantAIfy suite can make directory data processing more efficient. Key tools include:
- GTM Brain: Evaluates market entry possibilities and provides strategic recommendations.
- TAM Analyst: Assesses the size and potential of addressable markets.
- AI Process Optimizer: Simplifies data integration workflows.
Here’s a breakdown of essential tool features:
| Feature | Importance | Impact |
|---|---|---|
| Data Integration | Critical | Ensures smooth system connections |
| Automated Analysis | High | Speeds up insight generation |
| Predictive Capabilities | Medium | Helps identify future trends |
| Reporting Tools | High | Makes findings easy to understand |
Tracking Data Sharing Results
To maintain growth and improve outcomes, tracking the results of data sharing is essential. Modern B2B directories rely on detailed analytics to fine-tune their data-sharing strategies and maximize their impact.
Key Success Metrics
To evaluate success, focus on financial, strategic, and operational metrics. Financial metrics highlight direct business outcomes, while strategic ones assess the health of partnerships over time.
| Metric Type | Primary Metrics | Measurement Focus |
|---|---|---|
| Financial | Revenue, ROI, LTV | Monetary outcomes |
| Strategic | Partner Satisfaction, Customer Satisfaction | Partnership longevity |
| Operational | Engagement Rates, Training Completion, Surveys | Day-to-day efficiency |
Real-world examples demonstrate the importance of tracking these metrics. For instance, AvePoint saw its channel revenue grow from 20% to 50% in just two years by closely monitoring its partnerships. Similarly, Palo Alto Networks achieved a 40% quarter-over-quarter increase in partner engagement through robust tracking systems. These examples highlight how data-driven feedback can fuel ongoing improvements and expansion.
Partner and User Input
Feedback from partners and users is another vital piece of the puzzle. It helps refine data-sharing efforts and strengthens relationships. Here are two ways to gather actionable insights:
- Regular Partner Surveys: Focus on areas like data quality, integration performance, partnership value, and potential opportunities.
- User Experience Monitoring: Use tools like in-app feedback, track usage patterns, and measure satisfaction levels.
This input not only identifies areas for improvement but also builds stronger, more effective partnerships.
Growing Partnership Networks
Expanding your network starts with fostering a transparent data-sharing culture and utilizing secure, neutral platforms. Research from Gartner shows that organizations sharing data externally see three times the economic benefit compared to those that don’t.
To identify promising partnerships, rely on proven metrics. McKinsey predicts that the integrated network economy could reach $60 trillion by 2025.
"Although it's not easy to change the status quo, data and analytics leaders must focus on establishing trust-based mechanisms and preparing a data-sharing environment." – Gartner
Conclusion: Making Data Sharing Work
Sharing B2B directory data effectively requires solid legal agreements, strong security measures, and a well-thought-out plan for scaling. Experts in the field have pinpointed strategies to maximize the benefits of partnerships while reducing potential risks.
Legal Framework and Security
Having clear legal agreements in place is a must before any data sharing begins. Jocelyn Paulley, Partner at Gowling WLG, explains:
"It's important to have a company or contracts governing data sharing and stewardship, to clearly define risks and responsibilities"
Once legal and security measures are secured, the next step is focusing on execution.
Steps for Practical Implementation
-
Start Small, Then Expand
Begin with limited data sharing and gradually scale up. Vidyard, for example, grew its partner-sourced revenue from $25K to $350K in just one year. -
Focus on Data Quality and Security
Use validation processes and security controls to ensure data integrity. Tools from The B2B Ecosystem - like GTM Brain and TAM Analyst - help maintain high-quality data while revealing new market opportunities. -
Monitor and Improve Regularly
Keep an eye on partnership metrics to refine strategies. Gorgias adopted this approach, and partnerships now drive nearly 50% of its revenue within eight months of implementing strategic data sharing.
These steps provide a strong starting point for long-term success.
Building for the Future
Jack Hardinges, Head of Programmes at the Open Data Institute, stresses the importance of sustainability:
"We need to build organisations and structures that are persistent in order to facilitate impactful data sharing"
Regular security audits, clear governance policies, ongoing communication with partners, and defined success metrics are essential for maintaining and growing partnerships.
Scott Barsness, Architect/Solution Engineer at BOK Financial, adds:
"Data sharing is going to get bigger, but there have to be more security controls and mechanisms around it. I think it's still new and it sounds good, but there are still a lot of unknowns."
