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5 Things To Look For In A B2B Data Provider
B2B data provider is also an organization that collects data of residents from special means and then under the data regulation act sell that data to specific organizations. These organizations purchase B2B data to orient their research and to engage particular persons that can buy their products.
Data also has some types or we may call data is defined in two ways. either it is up to the mark i.e. good data or bad data i.e. malicious and not meeting up standards. I am going to eliminate all implications in the understanding of data by providing information about good and bad data.
Good data and bad data:
Data which is meeting up the standards and up to the mark is called good data.
Data which is not according to the standard and outdated is called bad data. Not all data I same, some has positive aspects and some has negative as well as some data is extracted via positive means and some by using unlawful and unethical means. Hence, data provider should be reliable in this scenario. If someone is giving malicious, outdated and imperfect data then there will be a number of issues regarding usage of that data for scrutinization of buyers.
The issues that can occur if data supplier is irresponsible:
- You can ruin reputation of company
- Rule of law will sue you as you break the law
- Annoying customers can make your company bankrupt
- Wastage of time and resources
That’s why it is very well necessary to deal with data provider who is reliable and providing data up to the market standards. We should look for 5 things in data provider. These 5 things are explained as follows:
Verified data sources:
Providers often don’t tell from where they have extracted data but there should be rule of law that compel them to tell their data extraction sources. If data provider does not reveal its sources then your suspicion portion of mind should click and you should look into this matter deeply. Try to avoid such data provider who in any case seems to be fraud, spam or unethical. It will bring you down with him as it is illegal to deal with data without proper license and guidance. On the other hand, if your data provider is well aware of code of conduct and ethics then you should deal with that person. Ask about his sources also and verify the authentication of his sources. A sit is very mandatory that your data shouldn’t be outdated. Update data will bring positive things to your company and direct you to deal with specific people.
Registered data provider:
In UK, there is data protection and regulation act that is under way. Government conducts rule of law and makes sure that there should not any malicious activity regarding people’s data. If your data provider is registered with thatdata protection act then it is very positive and authentic thing. It makes your data provider welcoming in the field of data agencies. Also verify that if they are providing valid data information. Such as valid phone numbers, valid emails, valid direct mail addresses. After the confirmation of all above things, now you are ready to work with that data provider.
TAM is total addressable market. It should be checked thoroughly. You are not going to deal with 5 to 6 data providers at the same time. That’s why analyze market before targeting someone. Use your sense and scrutinize the market in order to check authentication, rates and also validation. Different data providers are working with different rates. You should focus on someone who is not compromising quality and also providing you validate data within your company’s budget. Sales is totally number game. If you are dialing 200 calls a day and from that 200, up to 50 contacts are wrong numbers or outdated then you are in huge loss. You should contact your provider immediately and tell him about his dishonesty.
Targeted data record and guarantees:
Data should be gathered according to needs. Targeted audience is dealt with specific mean so that exact products are provided. If you are given just names and addresses of particular customers then it is not complete data. Ask your data provider about phone calls, emails so that in digital way, you can contact them and shortly, they reply you and show their concerns about your product. Guarantees should be taken from B2B data provider that the messages that you are making to specific customers will directly hit their inboxes. I ma not talking about 100% deliverability guarantees as there are also some other factors that ruin the outcomes. But at least some 80 to 90% deliverability guarantees should be given by B2B data provider. Otherwise, it should not be accepted and data provider should be dealt with iron hands.
TPS AND CTPS suppression:
There is a specific rule in telemarketing. If your data provider didn’t tell you and you continue to make calls on numbers that are listed on telephone preferences service then you will end up with very bad consequences. If you breach this law, you can be fined up to 500,000 euros from ICO.
B2B data provider should consider this fact and tell their buyers about this. Otherwise, purchasers will end up having huge fine that is unbearable for a newly enlisted company. If they have specified and allowed to use that numbers then you can use otherwise severe consequences will be at your doorstep.
Good and bad data should be verified according to the standards set by different regulatory authorities. Such verified and updated data is necessary to create hype in your dialing abilities. Data provider should be notified about all above points. B2B data provider should know about the consequences if he provides you fake and outdated data. All above mentioned steps should be followed strictly to avoid spams and frauds.