Let’s say that you need to buy marketing data for a new campaign. You know that you need data that is accurate, in-depth, and relevant. It needs to contain all the fields needed to segment audiences for greater engagement.
It needs to be relevant so that you target only those businesses that may become customers. And it needs to be accurate so that your email workflows do not exceed the bounce threshold set by your email service provider.
The problem is that B2B data decays at a rate of 5% a month, and many data providers don’t go to the lengths needed to ensure that their data lists are accurate and relevant. Making you wary of data lists that may cost you dearly even after you’ve paid for them. Wondering how to buy marketing data without running the risks associated with inaccurate, outdated data?
Consider these next four points, and you’ll have a better chance of spotting any lemons.
Determine the verification and accuracy process used by the vendor.
To maintain the quality of their databases, data providers should have a robust data verification process in place. The verification process could be manual or automatic, but the outcome should be the same: high quality, accurate data on real prospects.
At GCL we check our data against live databases and verify the accuracy of data by telephone and DNS email.
Establish a minimum guarantee of list accuracy.
Such a guarantee may vary depending on the data fields included in a list. It is common to guarantee a deliverable rate as high as 95% on direct mail, but not email or contact name accuracy, which changes with higher frequency. Before you buy marketing data, determine which fields would be most valuable so that you know what to look for in a list.
Demand a credit return if a certain number of records does not meet the guarantee.
In addition to a guarantee, it would be a good idea to place the order with the provision that if a check of 30 records does not meet the guarantee, you get a cash or credit return. You’ll need to report the specific data errors, so remember to record any corrections. Data providers will usually be grateful for your feedback.
Speak to other businesses that have used the list.
The hard part can be getting the contact details of those who have already used the list. List brokers can be reluctant to divulge the names of their clients but press anyway as it’s by far the best way to get an objective assessment of any list.
At GCL we pride ourselves on providing quality data lists. We keep our large internal database continuously updated with data from carefully selected partners, and use our 50-seat call centre to tele-verify all data every six to twelve months to ensure accuracy. If you need to buy marketing data and would like to learn about how bespoke databases deliver the highest ROI, visit our website for more information on data building.
Image Credit: DMA
