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A guide to buying B2B Data – Part 1
We have put together a guide to buying B2B Data, which should set you on your path.
Most would agree that sales are the lifeblood of any company. The most successful B2B data companies buy good quality B2B data to ensure they generate the sales that make them thrive.
It’s true that your existing customer data is an extremely valuable asset, however, when it comes to getting new prospects and customers, you need to choose your B2B Data partner wisely. A good B2B data broker can help you find more of your best customers, and ensure you get a return on your investment. But what else do you need to consider if you want to buy B2B data?
Identify your target market – Create a Buyer Persona
Before you make any business database selections, you need to identify your target market. By that, I mean know who your ideal customers are – what their profile/makeup is – so you can target more of the same. This is often referred to as a Buyer Persona – Read our blog: The importance of Creating a Buyer Persona. Knowing your target market will allow you to get the right marketing list for your campaign.
One way to identify your target market is to look at your existing customers and see if there are any common traits. What industries are they from, are they large companies or small, are they based in a specific area? This will show you where your opportunities lie.
Another great way to identify your target market is to ask yourself what problems your products / services solve. Consider who else may also have this problem, and could therefore benefit from your solution. Or, simply work out who you like to work with and target more of those. Once you know your target market, that’s when you can start to make selections on the database.
A guide… Part 2: The B2B data selections
With any marketing data purchase, you can expect to see a variety of different selection criteria. For B2B data, your usual selections include:
- Industry – This can be by directory description, or Standard Industry Code (SIC code)
- Company Size – This is usually either by the number of employees that work there (be that on site or nationally), or by the company’s turnover
- Location – Selected by postcode, county, country, or even radius of a location
- Turnover – The last turnover figure recorded at companies house
- Contact within the company – Business Owner, Director, Sales, Marketing, IT, HR etc.
For speciality databases, there are other selection criteria available For example, the fleet database allows you to select on the number of vehicles in the fleet and they type of fleet i.e. cars, vans or trucks.
Data Bubble is a data broker and as such, we have access to a variety of different databases.
Your existing database
A point to bear in mind when buying new data is to make sure you exclude your existing database. This should include your existing customers, prospects and your exclusion list (your unsubscribes) . You don’t want to buy data you already hold, and a good data broker will ask for your exclusion list and dedupe this against any future purchases.
Good Quality Data is Paramount
Good quality data is paramount when selecting a marketing data list. Here are a few questions we recommend you should ask your supplier to provide written answers to, along with our rationale for asking them:
How is the data collected? Most business data comes from Companies House, Credit Reference Agencies and business directories, though sometimes it’s gathered from publicly available information. If the latter, make sure all steps have been taken to ensure compliance, as publicly available doesn’t necessarily mean it’s ok to market to it.
How is the data verified? Data is often collected and verified using telephone calls and verification emails. If anything different, do more due diligence.
How big is the entire business database? This ensures you are getting a true representation of the total number of records available.
How frequently is the data updated? Data should be updated on an ongoing basis, with updates being applied anything from daily to monthly. Anything over 12 months old should be avoided.
What quality guarantees are in place for incorrect records or “gone aways”? No data is 100% accurate, as things change and people move each and every day. However, you need to know if the supplier works to tolerances and if so, what those tolerances are and what their replacement policy is.
A guide… Part 3: B2B Data Licence
Many B2B lists are supplied on a 12-month contract, which means you can work the data for a period of 12 months. During the 12-month license period, a prospect becomes yours if any of these apply:
- If you’re asked for a quote, or you close a sale
- If the prospect requests you contact them again in x number of months
- If you gain confirmation that you can keep their details in your database
If the prospect gives you an alternative contact’s details, then that alternative contact is not a party to the data license. However, the prospect whose details you’re supplied with remains subject to the 12-month licence. After 12 months, the data must either be re-licensed, or deleted from your systems. As such, we always recommend that you either keep the database separate from your own, or flag the database prior to importing it into any CRM system. That enables you to easily identify the data source, such that you can easily delete the records once the licence expires
Why choose us as your trusted partner?
We help clients and prospects with the right data for their marketing campaigns. Our ethos is honesty and quality. Here are some reasons why you can trust Data Bubble
Help – We will help and advise you on the right data for your campaign, even to the point of walking away if we don’t think a campaign will work for you
Free Counts – We will let you know how many records are available by providing counts, usually on the same day. These counts can be amended an unlimited number of times, until you get to the right database for you!
Deduplication – At no additional cost, we will exclude records that are on your existing databases i.e. your existing customer / prospect / unsubscribe lists
Fast & Secure Delivery – We will send the data to you in an excel spreadsheet via out Secure FTP site, usually within a couple of hours. Some databases can take up to 24 / 48 hours to arrive, though you will be notified prior to this if that’s the case.
Quality Guarantee – We give a no quibble guarantee on all the data we provide
Peace of Mind – Besides being ISO registered (as you’d expect), we give additional reassurances by our ISO 9001 certification and our Cyber Essentials Certification. We are also members of the Chartered Institute of Marketing, and we adhere to the Data and Marketing Association’s Code of Conduct.
General Data Protection Regulations & Data Protection Act (2018) – All our suppliers have provided evidence on how their data has been gathered, processed and supplied in a GDPR & DPA compliant manner. This evidence is verified annually, to ensure ongoing compliance.
You can select your b2b contact lists based on:
- Number of employees
- Contacts i.e. Business Owner, MD, Sales, Marketing, HR, IT, plus many more
You need to know you’re targeting the right people when you buy business lists. That’s what ensures your marketing budget is best spent, right? Investing in one of our lists does exactly that. You’ll be sure you have the right business-to-business database, and you’ll have a happy sales team, confident in hitting their targets.