However, did you know that you can go one step further? Rather than simply selecting a data list provider, you can work with a data consultancy, which will go the extra mile to ensure that your data works as hard as it possibly can for your company.
The latter will offer value-added services that will help you to make the very most of your data. It’s the difference between going to the supermarket and buying food for the week, and having a chef teach you some delicious recipes that you can cook up using the food that you have purchased.
Let’s take a look at both options in turn.
B2B data list provider
A data list provider is just that: an organisation that can supply you with data that will allow you to target your ideal customers. This data is likely to have been compiled from various sources, including:
- Data licensing
- Registered public data
- Other data vendors
- The Internet
Whether you require direct mail data, email data, telephone data, or a combination of the three, a good list provider will be able to get you what you need. In fact, it is possible to acquire data almost instantly – many providers offer an online service, whereby you can use a tool to generate the ideal list or lists for your organisation.
Of course, this data should be of high quality, legally compliant and useful to your business. So it is important to take steps to ensure that your list provider is a suitable partner. For more information, why not ready our post: 5 things to look for in a B2B data provider.
B2B data consultancy
A data consultancy will do all of the above – and more. In addition to providing data, a consultancy will provide additional services such as database cleansing, profiling, and analysis, all of which will help you to improve your targeting and ROI.
Each of these services focuses on improving the database that you already have – and then expanding it further. Therefore, they go hand-in-hand with purchasing new data.
1. Database cleansing
This process simply involves reviewing your current database and removing any “dirty” records – that is, data that is outdated, inaccurate or incomplete. As a result, your data can work harder for your company, generating more leads and leading to more sales.
2. Profiling and analysis
According to Data Matters UK, profiling is: “A simple analysis that provides basic information, often demographic, about customers or a group of customers, in order to describe the characteristics of the group.”
In doing this, you can work out who your best customers are, where they’re coming from and what they have in common. Armed with this insight, you can acquire similar prospects to help boost sales.
3. TPS/CTPS compliance
If you have a database, of any size, you need to make sure your prospects are happy to be on it. The Telephone Preference Service (TPS) and the Corporate Telephone Preference Service (CTPS) registers give people a chance to “opt out” of receiving unsolicited sales calls. Every business is required to check the data they hold against these registers every 28 days – breaching this rule could land you with a hefty fine of up to £500,000 from the Information Commissioner’s Office (ICO). A data consultancy can help you to keep on top of these requirements.
Both list providers and consultancies can provide you with the B2B data that will help your business to reach more of the right people. While the former can provide you with high-quality, useful data, the latter can also offer you additional, value-added services that will help you to utilise your data to achieve the optimum results. So it’s well worth taking these differences into account when carrying out your research.
You may not need as thorough a service as can be proved by a consultancy. However, for many businesses, there is a host of benefits to be accrued from partnering with an organisation that can help you to cover all the bases when it comes to data.