The short answer
A buying signal is something that changes at a company and raises the chance it buys now: a vacancy, a new decision-maker, a visit to your pricing page, a new branch, growth in the filed accounts. Eight signals do most of the work in B2B, and the best of them can be checked for free in public sources. What counts is not one signal but the combination with your target group: a company that fits and shows two signals within thirty days gets called this week. A company that does not fit does not get called, however many signals it shows.
This page sets the eight signals side by side with what they mean, where to find them and what to say when you call. Then: which signals to ignore, how to combine them, and what is allowed.
Does it fit, or is it now? Two kinds of data
Company data answers two different questions. Does this company fit? Sector, size, legal form, region and revenue answer that: data that stands still for months or years. Is it now? Signals answer that: events with a date. A target list without signals is a list of companies that might buy one day. Signals without a target group are noise. The combination is the only list you want to open again every Monday; how to pin down the target group is in lead qualification.
The eight buying signals
Signal | What it means | Where to find it | How fast to act |
|---|---|---|---|
1. Vacancy for a role that uses your product | Budget, and a problem the team cannot solve with the people it has | The company's website, VDAB, Actiris, Le Forem, job boards | Within two weeks, before the new hire starts |
2. New decision-maker | Someone who reviews suppliers in their first hundred days | Job changes on LinkedIn; appointments in the Belgian Official Gazette | Between week three and week twelve in the role |
3. Visit to your website, especially pricing or comparison pages | The company is looking around and already knows you | Company-level visitor identification | Within days, opening with a reason rather than the visit |
4. Headcount growth in the annual accounts | The company is actually growing, not just in its own communication | The social balance sheet in the accounts at the National Bank (FTE, new hires) | Within the quarter after filing |
5. New branch or move | Fit-out, telecoms, IT, cleaning, security, staff: all of it again | Establishment units in the KBO/CBE; registered-office moves in the Gazette | Before the move, not after |
6. Merger, acquisition or demerger | Two sets of systems, contracts and suppliers have to become one | The restructuring category in the Gazette | In the first six months after publication |
7. Capital increase or new shareholder | Money has come in, or an owner with new plans | The capital and shares category in the Gazette | Within weeks |
8. Presence at a trade fair or event | The company is investing in growth this month and expects contact | Exhibitor lists, event pages | Before the event: a meeting at the stand |
For all eight: the signal is the reason to call, not the message. "I saw you were on our website" lands badly; "I saw you are opening a second site in Kortrijk, how are you handling the IT there?" works.
The eight, briefly
1. Vacancies
The most useful signal, because it carries a date and a budget. Look at the role, not the count: one vacancy for a sales manager says more to a sales tool than ten vacancies for drivers. The full piece, with the Belgian and Dutch sources side by side, is finding companies that are hiring.
2. New decision-makers
A new CFO, IT manager or sales director inherits choices they did not make. In the first months they look at what stays. Job changes show on LinkedIn; for directors and managers of Belgian companies the appointment is published officially in the Gazette. How to search it is in searching the Belgian Official Gazette; how to find the right person in finding the decision-maker at an SME.
3. Website visits
The warmest signal, and the most misused. You see the company, never the person. A single homepage visit is noise; three sessions on the pricing page in a week is a signal. How identification works and where its limits are is in how Bizzy identifies website visitors.
4. Growth in the annual accounts
The social balance sheet in Belgian annual accounts shows full-time equivalents and new hires per year. That is growth that has been filed, not growth in a press release. The catch: the figures can be up to nineteen months old. How to read them is in how to get and read Belgian annual accounts.
5 to 7. Gazette publications
New establishments, registered-office moves, restructurings, capital increases and changes to the articles are published. Each means contracts get looked at again. The Gazette is free but has no alerts: you search yourself, per company or per period.
8. Events
A company with a stand at a fair has set aside budget for growth this month and expects contact. The exhibitor list is one of the few lists where everyone can be reached with a reason.
Signals to ignore
General news. An interview or an award says nothing about budget or timing.
Social interactions. A like on LinkedIn is not a buying signal; it is a reaction to a post.
One homepage visit. Job applicants, students and competitors visit your site too.
Revenue growth at small Belgian companies. Most small companies do not have to file revenue; use gross margin and headcount.
Combining signals
One signal is a reason; two signals within thirty days at a company that fits is a priority. A workable rule for a team of two to ten salespeople:
Filter on target group first: sector, size, region, legal form.
Within that, sort by the number of signals in the last thirty days.
Call the companies with two or more signals this week, with the strongest signal as your first sentence.
Put companies with one signal into nurturing until the second arrives.
Record per call which signal you called on and what it produced. After a quarter you know which signals work for your product; that is a better lead score than any model.
With or without a tool
All eight signals can be checked without a subscription: job boards, LinkedIn, the Gazette, the National Bank and exhibitor lists are free. The cost is the time to redo it every week for hundreds of companies. A tool does that work: Bizzy puts vacancies (from company websites via PredictLeads and from VDAB), job changes, website visits, events and official publications next to the register data for each company, so your list sorts itself every week. Which tools exist for intent data is in intent data tools compared.
What is allowed
A signal gives you a reason to get in touch, not permission. In Belgium you may call, except numbers on the do-not-call list (Bel-me-niet-meer), and email the generic addresses of legal persons. In the Netherlands you may call a BV, but a sole trader or partnership only with prior consent. The rules per country are in the cold outreach rules.
How to follow one of these signals in practice: how to track director changes at Belgian companies.
Two more signals with a public trail: fast growth, as in the Trends Gazelles ranking, and restructurings, covered in how to track mergers.
Frequently asked questions
What are buying signals in B2B? Events at a company that raise the chance it buys now: a vacancy for a relevant role, a new decision-maker, visits to your website, headcount growth, a new branch, a merger or acquisition, a capital increase or attendance at an event.
What is the difference between buying signals and intent data? Intent data is part of buying signals: behaviour that shows interest in a topic, such as website visits or search behaviour. Buying signals also include events that have nothing to do with you but make a purchase more likely, such as a move or a new director.
Where can I find buying signals for Belgian companies for free? Vacancies on company websites and at VDAB, Actiris and Le Forem; appointments, moves and restructurings in the Belgian Official Gazette; headcount growth in the accounts at the National Bank; new establishments in the KBO/CBE.
How many signals do you need before calling? One is enough as a reason; two within thirty days at a company that fits your target group make it a priority. A company that does not fit does not get called, however many signals it shows.
Photo: Liège-Guillemins station, Michielverbeek, CC BY-SA 4.0, via Wikimedia Commons