Data has become the life blood of modern day business. It is the basis upon which strategic decisions are made, providing not only valuable intelligence but strengthens any and all marketing activity. All data is useful if used and interpreted the right way and prospect data is a vital aid to any business wishing to expand their customer base.
Expand your Database
After a while, marketing to the same database will start to show diminishing returns. Over time
people unsubscribe or change jobs and your database becomes tired. Topping it up with fresh new prospects not only gives you an opportunity to expand your customer base, it increases your brand awareness. Through channels like email marketing, you can swiftly reach thousands of contacts specific to your target market/audience who have the propensity to purchase your products or services.
Large compiled data files are probably the most common source for B2B prospect data. They provide cost effective and quality data, with a wide range of selections to really refine your target audience. Databases like our very own IMG UK Business Index offer a 97% accuracy on address, 95% on telephone and 90% accuracy on emails. If your business is looking to grow its customer base, buying prospect data is one of the most cost-effective and targeted ways of doing that.
What B2B data also offers…
Understanding who your customers are and their behaviour is critical for any business to grow and acquire more of the right type of new customer. Without this knowledge, strategic marketing campaigns and effective communication cannot be undertaken. Harness the power of your data via profiling and analysis, and by enriching your database with information that will enable you to segment your customer database and to also target prospects who have the highest propensity to respond to your offers and purchase your products or services.
Opportunity for Data Cleaning
Utilise external databases and industry suppression files to not only ensure your data stays clean, compliant and fit for purpose, but also to enrich it with additional information, contacts and intelligence. Matching your existing data to an external source allows you to identify data that is now out of date and replace it with up to date and relevant information. Crucial to ensure effective communication, reduce financial wastage from marketing to incorrect data, and to ensure highest brand reputation.
Ensuring you have a reliable and trustworthy source for data is vital. Make sure the data you acquire is backed by industry standard guarantees and warranties in terms of data quality and compliance to industry regulations.
There are a few suppressions to consider when buying data, such as the TPS (Telephone Preference Service), MPS (Mail Preference Service) and CTPS (Corporate Telephone Preference Service). Be sure to check that these various suppressions are applied by your data supplier to ensure all data supplied to you is compliant to direct marketing industry legislation.