Expanding Access to Services for Small Businesses with Differentiated Data
THROUGH THE USE OF DIFFERENTIATED DATA, THE EQUIFAX COMMERCIAL B2bConnect™ PLUS IS HELPING SUPPLY BUSINESSES WITH THE SERVICES THEY NEED TO GROW. By leveraging the differentiated data in the new B2bConnect™ Plus database, businesses are able to combine the small business records, individual contacts, and corporate associations in the market, with the credit card transactions and revenue growth information to better recognize the companies they should market their services to. The result of which is having greater insight into knowing who to engage, and when, with the right services.
”Pre-COVID, the number of new business formations hovered around 300,000 applications per month,” said Bill Phelan, General Manager of the Equifax U.S. Information Services (USIS) Commercial business. “But over the past few years the number of small business startups increased by more than 30%, per month. This growing market has made it difficult for small businesses to gain access to the limited resources to grow their business – everything from access to credit, to utilities and communications. For those businesses offering professional services, knowing who to engage with, and when, is a critical component for market growth. This is a problem we are helping solve.”
These near real-time insights into revenue and growth on millions of small businesses are the result of a partnership with Enigma, a business data and intelligence company, where more than 60 million U.S. based business records from Equifax are combined with more than 8 million in credit card transactions from Enigma. This creates visibility into the growth trajectory of businesses – which is valuable knowledge for marketers on predicting when a small business will need a new service.
Learn more about Equifax commercial data assets and B2bConnect™ here.