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Why Not All B2B Data Is the Same
B2B Data is something that has undergone different stages of transformations from the elementary data that was common in the early 1900s to the more complex data that we see today. More importantly, it’s not only B2B Data that has gone through multiple stages of transformations since the general spectrum of marketing has also evolved over the years.
One aspect that’s clear about B2B data around the world is that you’ll never get hold of records containing similar B2B data. In other words, B2B data list varies from one service provider to another. There’s a misconception that this aspect does not matter when one wants to buy a data list. On the contrary, it matters a lot considering that there are numerous factors that cause these disparities have a direct impact on your business.
Why B2B Data Is Important
The quality of B2B data will affect your business organization in two major ways. First, it will have a direct impact on your marketing strategy by dictating the tools that should be used in marketing campaigns. Secondly, major business decision, including budgetary allocations, the number of products to be produced and others revolve around B2B data. In general, B2B data is a backbone of a business organization with the powers to dictate the action plans that need to be taken by the business. The variation in B2B data is a wake-up call to thousands of marketers worldwide that have mastered the art of buying B2B data lists from service providers. This is a clear indication that there are a number of data lists that don’t meet the required threshold. When purchasing a data list from service providers, marketers are advised to go for reputable companies that are known not only for high-quality data but also for data that are compliant with the set regulations.
Why Not All B2B Data Is the Same
Factors that contribute to the disparities of B2B data have been discussed below.
1. Where you extracted your B2B data
The first most crucial step to undertake if you want to purchase B2B data is establishing the source of your data. Making any mistake at this level will be detrimental to your business operation. In order to avoid making mistake, there are several guidelines that’ll help in this quest.
a) Check whether the information was legally as well ethically obtained
b) Check for any form of ambiguity
c) Avoid putting more consideration on prices
Why making selecting data provider based on the price could be dangerous
There’s no dispute that lots of people get swayed by a slight reduction in the general prices. Just like appearance can be deceptive on the surface, going for a cheaper service can you’re your organization in a horrible situation more so when you’re dealing with personal data. Undeniably, price is an important asset that needs to be incorporated into major business decisions.
However, most people fail to understand that price and quality are always separable. In this regard, it is common knowledge that low prices reciprocate poor quality data that may turn costly to your business in the longest run. Undoubtedly, high-quality data will cost you a fortune because it’s costly in terms of both time and resources to generate. Essentially, it’s hard to find B2B data that’s 100 percent reputable but it’s up to the data provider to convince marketers that what they’re offering meets the required threshold. For example, you need to be convinced that you’ll have the right audience that’ll help in improving email marketing. That is to say, you’ll have your emails go to the right group of people.
2. Unclean data
Your B2B data may have been corrupted and that’s why it’s it looks different from others. In order to understand how this concept works, it’s important to distinguish clean data from dirty data. These two terms stand for totally different things that could bring conflicting effects on your business. Clean data is accurate as well as legal and carries everything that’s needed to boost your marketing campaigns. Unclean data on the other hand lacks the aspect of clarity and will hinder any effort to connect with the correct people on the market. It’s from this that you need to ensure that data is clean before purchasing it. Doing this will prevent your business from experiencing unexpected risks.
3. Legality of data
The recent development in marketing campaigns has seen the rise of new regulations that guide personal data collection. The emergence of these rules has affected not only how data needs to be processed but also collected. The most recent changes on Data Protection Law was more than two years ago that gave birth to the General Data Protection Regulation (GDPR). This is one law that’s sending shock waves to various business entities around the world. Among other things, the law advocate for hefty penalties for any organization or a person that contravenes these provisions. In fact, your business can lose up to 20 million euros or a 2 percent global market share for failing to protect client’s data. Although these provisions will only apply to the EU citizens, most business organizations will be affected by these provisions especially those dealing with EU citizens.
This is the reason you need to ensure that your data list comes from a reputable company. Has somebody that will provide vital information, including when as well as where your data list was sourced. These are simple steps that will prevent you from taking steps that will end up jeopardizing the smooth working of your company.
B2B Data that’s considered as the basis of all marketing strategies varies from one database to another. The variation B2B data is attributed to various factors, including where it was collected, its legal aspects among other factors. While purchasing B2B data, marketers are expected to look at different facets such as the ethical aspect of the service provider, the nature of the lists as well as its legality.