Data is indisputably the best asset for modern businesses. However, not all data is beneficial for organisations. It is only the relevant, accurate, and up-to-date data that can help them succeed in their customer outreach efforts. Inaccurate data can lead to disastrous marketing campaigns and drain the company’s financial resources and reputation.
Instead of collecting and managing data, having a data provider agency makes it easier. There is no lack of top B2B data providers in the market. Each one claims to be the best data provider. However, the question is how businesses determine which one is truly the best. Even if they find the best data provider, does it really meet their needs?
Here are five tips to help businesses choose the best sales and marketing B2B data provider.
Check data accuracy
Undoubtedly the most important factor to check while choosing a B2B data provider is the accuracy of the data. Ask the data provider about the accuracy of the data they are offering. Check if they are straightforward about it.
Also, check the frequency of data. The thing about marketing databases is that it gets old and outdated quickly. It means it needs to be updated frequently to keep up with the changing needs. Another thing to check is the sources and the means of data collection.
In a nutshell, ask these questions:
- How accurate is their data?
- How frequently do they update their data?
- How do they collect it?
See whether the data provider offers insights or not
Data without insights is not beneficial. Enterprises must use more than just the data collected to contact their prospects and offer services randomly. The key is to figure out when they need their services and when they are most likely to invest in them. The good thing is that data providers can use intelligence to provide these insights to businesses.
Carefully check whether the data provider provides these insights or not. Check whether they monitor the latest news and insights properly or not. It will help businesses succeed in their marketing efforts and stay ahead of the rest of the competition.
Consider data compliance
Data includes sensitive information of accounts and individuals, and, as such, privacy and data protection laws are regularly updated across the globe. Organisations do not want to violate any law because of their data provider’s carelessness. Therefore, check whether the data provider complies with the data privacy laws.
Ask these questions and only choose them when they give satisfactory answers.
- Do they comply with GDPR?
- Who are they registered with (National or international regulators)?
- Are their software GDPR-compliant?
- Do they maintain proper records of their data collection process?
It is essential to ensure the data provider complies with all laws before using their services.
Check the pricing
Most companies make the mistake of focusing on ROI while choosing a data provider. However, it is necessary to know the pricing and the negotiation options. Take time to settle on one data provider. Research thoroughly and learn the estimated market price to negotiate with the provider.
Get the answers to these questions before making a choice.
- Is there any premium pricing option?
- What other features and offers are included in premium?
- Are the services and features businesses will receive help them achieve their goals?
If the data provider needs to be more specific about their pricing policy instead of being upfront, they are probably not a good option.
Availability of customisation options
Every organisation has different needs and goals. Each database can only cater to some. It is essential to check the customisation options the data provider offers and whether they align with the business goals. Misalignment can prove to be disastrous for the business.
Ask the following things from the data provider.
- Do they offer a database per location?
- Can the database be customised according to our needs?
- How many details will be available in the data?
Data has the power to help enterprises succeed and thrive. At the same time, it also has the potential to cause great damage. Therefore, choose a data provider only after careful consideration. Checking their customer service and whether they align with an organisation’s goals is integral. Ensure their data’s accuracy, completeness, and compliance before deciding.
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