Not all data is created equal and if you’re a data reseller, finding the right B2B data is a vital part of B2B campaign success. What can you ask to protect yourself from being ripped off by data ‘Del Boys’?
Businesses and potential customers are now more connected than ever, regardless of the miles and time zones separating them. In this truly global economy, data-driven marketing has emerged as a strategy that the majority of executives believe is crucial to success.
It’s no surprise then that the big data and analytics industry is booming, with revenues expected to hit $150.8bn worldwide in 2017.
Data reselling isn’t without its pitfalls though and success is often dependant on you getting hold of high-value B2B data, which isn’t always what providers are trying to sell you.
Here are 7 questions you can ask your data provider to ensure you aren’t being sold terabytes upon terabytes of dodgy data:
1. How is the data sourced?
For example, a list sourced directly from Companies House won’t provide qualified trading addresses and contact information, and your carefully crafted message may not arrive at its intended destination.
Even if you’re not collecting the data yourself, you need to be able to prove that you acquired all your data fairly and lawfully.
2. Is your data GDPR compliant?
The General Data Protection Regulations (GDPR) is the EU regulation that came into force on 25th May 2018 as well as the UK GDPR which came into effect on 1st January 2021. This legislation is intended to strengthen and unify data protection for all individuals within the UK and EU.
Penalties for companies in breach of the regulation can reach up to €20m or 4% of annual global turnover – whichever is higher.
It’s imperative that as a data reseller, any data you license to your clients complies with current UK data legislation.
3. Are you registered with the Direct Marketing Association (DMA) in the UK?
The DMA is Europe’s largest marketing association dedicated to the protection and development of the UK direct marketing industry, with members required to adhere to the DMA’s Direct Marketing Code of Practice.
Making sure your provider is registered assures both you and your customers they follow industry best-practice.
4. What deliverability warranties do you offer?
With buyers now receiving over 100 emails every day, the only way to prevent your clients’ marketing emails going straight in the trash is by targeting the right audience and crafting the right message.
This means they need to get their hands on the right data. Or rather, this means as a data reseller, you need to find it for them.
Asking your data provider for deliverability warranties is a good measure of the confidence they have in the quality of their data and the confidence you can have in your clients’ emails getting opened.
5. Can the email address be linked to a qualified trading postal address?
Linking email addresses to a qualified trading postal address provides extra assurance the data is qualified and offers the opportunity of conducting a multi-channel campaign through direct mail.
6. Are telephone numbers suppressed against the Telephone Preference Service (TPS) and Corporate Telephone Preference Service (CTPS) and how regularly does suppression take place?
If your client contacts a business or individual by telephone that’s on the TPS or CTPS register, they could end up with a penalty of up £500,000 for telephone marketing breaches.
And if you supplied them with data that led them to make the call, they aren’t going to be pleased.
Avoiding nuisance calls to anybody on these lists will also stop your clients from wasting their time chasing an audience that’s unlikely to be interested in anything they have to say.
7. How often is the data updated?
B2B data can decay by up to 40% a year, leading to a decline in response rates and deterioration in the cost-effectiveness of your clients’ campaign. Getting proof that your provider performs regular data cleansing is essential and ensures your clients have up-to-date contact information.
Dirty data is estimated to cost businesses an average of 20% of their revenue, so unless you can guarantee clients that the data you’re selling is squeaky clean it’s unlikely they’ll be clambering for it.