Buy Database for Marketing? How to be Smart about it?
Researching prospects and collating a marketing database is undoubtedly a time-intensive process. However, having a detailed, accurate, updated database is essential for generating high-quality leads. B2B businesses buy or subscribe to ready-to-use databases to pursue prospective buyers and make sales pitches. It eliminates the need for research, thus saving time and enabling marketers to focus on enticing prospects without diversions. The vast pool of online database vendors mandates businesses to be very careful about outsourcing decisions. Here are some ways to be smart about it:-
1. Businesses should buy a database from a legitimate team of experts.
There are the many database brokers and reselling companies masquerading as database experts. Businesses must look for the certified database management professionals to buy database for B2B marketing requirements. Checking their credentials, reviews, and rating on different platforms is necessary. It should be followed by reading their terms and conditions in detail.
2. The database purchase should comply with the B2B lead generation requirements.
Even the most accurate database might not suit a business if it doesn’t steer B2B lead generation. Companies need to introspect and enlist the database purchase criteria well in advance. All negotiations with prospective database vendors should focus on how the database can boost lead generation and marketing ROI.
3. The database should be unique and not match the existing CRM database.
Standard error businesses should avoid at all costs is purchasing B2B contacts that they already have. The best way to avoid this mistake is by the requesting a free sample and a trial period. Another safety net is an exclusivity clause in the contract, which allows the business to only pay for new contacts.
4. Businesses should buy databases with deliverability assurance.
The deliverability assurance states how effectively the data facilitates B2B lead generation.
Regarding email lists, deliverability assurance refers to confirming that the marketing emails will reach their intended recipients. Similarly, telemarketing lists assure businesses that the numbers are verifiable and belong to the key decision-makers.
5. Companies should pay attention to database maintenance and validation clauses.
Amongst the different database variants available in the market, the degeneration rate of B2B marketing databases is the highest. It is because the firmographic and technographic details are constantly fluctuating. Furthermore, the contact details of key prospects are often subject to change. Hence, businesses must keep the data decay aspect in mind while purchasing B2B data. They should avoid partnering with agencies that don’t commit to database cleaning and updates.
Conclusion
While the customized database can be a cost-effective, hassle-free source of lucrative prospects, the wrong outsourcing decision can be disastrous. Businesses are at a high risk of being stuck with a widely-circulated email database that directly lands in the spam folder. Furthermore, the database might be outdated, inaccurate, and unusable. The database might be well-compiled but unsuitable as per the ICP. B2B businesses should be extremely cautious and methodical while choosing a database service provider to avoid this faux pas.
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