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Things to keep in mind when buying and renewing data

Do you still have a direct debit for a subscription you haven’t used for 12 months?

Renewing is easier than hitting cancel on your £5 a month direct debit and is more time consuming than letting it roll on for another year without having to touch a button.

I understand renewing with your data provider isn’t quite the same.

For starters, it’s a lot more money than £5 and there are more people to consider besides yourself.

Given the associated headaches, sticking with the company you know seems like the easiest option. But it’s not always the best decision.

Here are 8 things you need to be aware of ahead of buying and renewing your data to make sure it’s the best fit for you:

1. Know what an entrusted data source is

We receive a lot of enquiries from people in organisations that are not really qualified to have the conversation. The person enquiring about the list should have an in-depth understanding of your marketing campaign objectives and target audiences. In our experience, the final decision of purchasing data usually ends up being made on price only. Even the business owner may not have much expertise in marketing data. The safest route is to get go to a reputable data provider who gives you the impression that they have your best interest at heart and not their own.

2. Don’t believe the hype

You’ll hear data list owners tell you their data is the best and that it is unique in the marketplace. The truth is… it isn’t. When you speak to these companies, you don’t speak to the data experts, you speak to a salesperson paid to tell you good things about their data. So, ask the right questions so you can compare the different lists that are available. A data provider to trust is someone who will be happy to tell you where they source their data from, they will be open and honest.

3. Ask the right questions

How good is your data? You might think this is a good question, and certainly its one many people ask, but what answer are you expecting back? We guarantee that the answer will be ours is the best in town. Questions to ask should cover guarantees, legalities and data suppressions, opt-in mechanisms and sources, samples, duplicate prevention and more. A good, reliable company won’t hold any information back.

4. Don’t believe that all data is equal

Would you buy a Rolex from a man in the pub for a tenner and expect it to be real? No, you wouldn’t. Some small business owners do believe the hype from data salespeople and data brokers, then they wonder why their mail server is shut off, why they have complaints about spam. Again, go to a reliable source. As data suppliers, we have an asset you can’t buy or gain yourself, experience. We see the performance of each company we supply data to and give you a full rundown of what is working and what isn’t.

5. Don’t buy from inexperienced suppliers

We have seen many companies appearing recently claiming to be data “experts”. It’s vital to work with companies that have good data credentials so that you get lists that comply with legal and ethical marketing standards. Genuine companies won’t mind answering all your questions and concerns they’ll also be open to where the purchase their data from.

6. Be smart with your budget

One thing to watch out for is, data salespeople prefer you to buy large amounts of data and therefore spend more money with them. Why not ask for a sample of the data first to validate the list before buying large volumes. This would have no conflict of interest as the best data for your campaign and budget.

7. But don’t take the samples as gospel

If you have ever purchased a duff list after receiving a good sample, think about these questions before buying your next list:

Do you think data companies realise the importance of good samples pre-sale?

Do you think data companies have ever considered cleansing a sample before release?

I’m sure the answer is yes however with our data file we only provide live samples from our live database so we simply can’t make a sample look “good”.

8. Give data procurement the importance it deserves

Do your research. Adhere to UK and EU direct marketing laws. Think of the ethics and brand implications of using poor quality and/or illegal marketing data. Buy reputable data suppliers only, and most importantly, speak to their experts.

Feel free to talk to us today on 0191 406 6399 for more information on how we can help you make better buying decisions.

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