Tips for buying a B2B marketing database
Purchasing business marketing data is the beginning of a journey that will lead to more clients and more sales, but there are many steps that you need to take before you reach that point, many businesses often fail and this, in my experience can be attributed to several reasons.
As a purchaser you want to deal with an organisation who can demonstrate an understanding of GDPR, guide and question a potential client on how they are going to use a database along what they are hoping to achieve and what their expectation is in terms of the information a marketing database can provide.
I have provided hundreds of customers with marketing data over the last 7 years but more importantly I have given them the benefit of my experience, guided them, managed expectations and helped them to achieve the end goal of more clients and sales.
Common questions I have come across regarding purchasing a B2B database
“I don’t want to buy a database that another company in my industry may have used”
My answer is this, you will find yourself competing against competitors in trade events, publications, newspapers, social media and in many other places. This is a fact of life, potential buyers will look at more than one supplier for a product. A data company simply could not survive by offering exclusive use to one client as they would restrict the number of clients they could sell to. It would drive costs up so high that only a chosen few companies would ever be able to afford it.
"I've bought a database before and they don't work"
If a customer tells me this, I always ask how did you use it, and how often. In the majority of cases they have sent one email campaign possibly two and when they didn't get sufficient enquiries it was decided the database was useless. A database should be treated as a list of prospects and you wouldn't just contact a prospect once and then never again. A database is no different, use it regularly, engage with those companies through a monthly email, follow up those that open or click through to your site. Pick up the phone and speak to them, ask questions, offer a solution.
"It's too expensive"
When you spend money on advertising or marketing you need to think about the shelf life of the activity and your potential return on investment. If you purchase a database on a 12 month license for use for a one off cost you have 12 months to secure clients which should be achievable if you regularly use the database.
"Unless you can provide me this 'job title' the database is useless"
If you sell your products or services to a decision maker with a particular job title then it is assumed that a marketing database can be provided with all contacts with the same job title.
The issue is this, when databases are put together they use a senior decision maker within a business or a job role, to list every job title within an organisation would be difficult and expensive when there are over 6 million UK businesses.
A database with a senior decision maker from the right industry is just as valuable because from there you can carry out your own telemarketing research to find out your required contacts details from the chosen job title. The database will show you how many companies you could be marketing to, if they are TPS registered and so on. To research and create a list from scratch would be far more costly and time consuming.
These are just a few of the most frequent questions I have come across along with many more.
Sometimes you just cannot find the Leprechaun at the bottom of the garden that a client is desperate to find and a great data company will tell you this and not lead you up the garden path. They will also suggest alternative solutions and guidance to help you on the journey for more clients and more sales.
If you need help call the More Than Words team today on 0330 010 8300.