In this digital era, one of connected devices, omnichannel marketing and big data, modern businesses are increasingly data-driven.
Companies use data to inform business plans, drive marketing campaigns, uncover actionable insights, and determine future business direction.
Leveraging the deluge of data that exists today is fundamental and conducive to business success – which is precisely why so many businesses often rely on B2B data resellers to provide them with up-to-date, high-quality data.
The problem, however, is that the B2B data reseller market is full of companies all claiming to have the “best” and “most up-to-date” business data lists. For many of these resellers, price is the main differentiator – they have no other unique selling point to compete on.
As the market has expanded, these B2B data resellers – aware of the fact that they cannot compete on quality – have focused solely on cutting the price of their data.
But the thing is, competing on price is a race to the bottom.
B2B data resellers who constantly cut their prices to secure a sale will eventually reach a point of lowest product quality and lowest profit.
As prices are cut, profit margins decrease, and as profit margins decrease, so too does the amount of time and money invested into data collection and processing.
What eventually happens is that these resellers, having cut their prices significantly, have to cannibalise their own service offering to make a profit.
As this cycle of cannibalisation continues, these B2B data resellers are forced to sell their business data lists at a certain price point, as that’s what their customers have come to expect.
This kind of approach is not practical nor sustainable. As the customer, you should be wary of B2B data resellers who claim to sell “high-quality and up-to-date data” at prices that seem too good to be true.
Also, with the General Data Protection Regulation (GDPR) now in effect, B2B data resellers selling data at ridiculously low prices may not have the budget or resource to ensure that data has been collected in a GDPR compliant manner.
Data plays such a key role in the success – or failure – of so many business functions, relying on price alone to source where you obtain data could be a serious (or potentially fatal) mistake.
Business data must be viewed as an important investment decision – and you must obtain high-quality data where possible.
At Marketscan we understand our clients need a cost-effective solution but without compromising on quality.
For campaigns to succeed and reach the right people, the business data lists you purchase not only need to be of high quality and up-to-date but also compliant.
We compile, blend and enhance data acquired from five of the UK’s top data sources – Companies House, Thomson, Dun & Bradstreet, Corpdata, 118 Information – to create our Megabase, the UK’s largest, most comprehensive and GDPR compliant business database.
The Megabase provides superior market coverage, depth and quality of data, achieved by the selective combination and enhancement of the data records we obtain.
The Megabase is routinely updated on a monthly basis, ensuring that our customers receive the best and most accurate data possible.
Furthermore, we can segment specific data sets upon your request to help you and your clients target particular audiences. And if a certain sample size of data is needed to test a market first, we can provide it.
We not only operate as a B2B data provider but also as your trusted data expert, providing you with consultancy and advice on how to make the most out of the data you provide your clients.
Marketscan’s Megabase is the perfect example of the positive impacts of properly investing in data. Businesses and business operations are driven by data – and data is an ongoing investment.
You need to be able to drive results, so spend a little more on the data you resell to your clients to ensure they have the best chance of success in the future.
Find out more about the business data lists we provide.