Reaching out to B2B decision-makers can be incredibly challenging for businesses. While the market has great scope, it is rife with competition and erratic buying patterns. In addition, enterprises have laid down extremely stringent purchase guidelines, with multiple sellers in the purview. Hence, for sellers to identify/pursue high-value leads, compiling databases from scratch to reach out to prospects is impractical. Buying a customized database is no longer a choice but a necessity. However, it is crucial to choose a data selling company carefully. Hence, before purchasing a database, companies should consider the following five factors in detail:
Data selling companies must disclose the real accuracy rate:
Irrespective of the meticulousness followed while compiling a B2B database; marketing data is prone to degeneration over a period. Hence, if certain data selling companies claim 100% database accuracy, they are not being very transparent and forthright. A reliable service provider will always disclose the data-integrity parameters without any qualms. They will also apprise clients of data decay rates and maintenance policies well in advance.
Data selling companies should be flexible as per the marketing requirements:
The sales/marketing requirements are always unique and can never be identical to that of any other business. Also, the list of suitable and qualified prospects will always differ for every marketing campaign. The data vendor should be willing to customize based on the product/service specifications, the ICP, and the preferred marketing channels.
The right B2B data provider always provides authenticated databases:
Verbal assurances do not hold any value for investments as sizeable as database purchases. The right B2B data provider will consistently provide validated prospect data. For instance, such database providers utilize AI-enabled tools and Deep NLP capabilities to offer geo-specific accurate information. In addition, reputed providers also provide data validation services. Hence, it is crucial to incorporate these factors to make an informed decision.
The best B2B data provider delivers value for money:
Before making the final database purchase, businesses need to make a comparative cost versus data analysis of prospective vendors. The scale, reach, and quality of data should be assessed with the total cost structure. This includes subscription fees, maintenance charges, renewal fees, etc.
Reputed database providers provide support services and consider legalities:
Cross-checking data security and privacy compliance is seldom prioritized by B2B businesses during database purchases. However, it is a critical purchase consideration that cannot be neglected. The database provider should be willing to certify that the data is sourced legitimately. They should also provide contractual assurance that the database abides by the latest data industry regulations.
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Conclusion
In addition to the above B2B database purchase guidelines, B2B businesses must pay attention to online reviews and ratings. These include testimonials and case studies on the database company’s website, social media reviews, and Google reviews. It is also helpful to reach out to their clients online and ask for genuine feedback. Especially for SMEs with limited investment capabilities, database purchasing is a monumental decision that requires due diligence.
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