Top considerations when buying and using a prospect data list

Purchasing accurate Prospect Data helps you grow your business. Obtaining the right data enables you to expand your reach and conduct targeted campaigns. In order to get the best results from your direct marketing campaigns however, there are a number of things to consider when buying and using a prospect list. First of all, it’s important you understand what prospect data you’re looking for before you select the data company which will give you the best results.

Understanding Existing Customers

Do you have in depth understanding of your existing customers? Are there clear trends in the customers that spend higher values, more frequently and more recently? If you do not have information stored on your database that relates to the size, age and sector of the company and function of the contact, then you should consider appending these variables through existing sources to enhance your knowledge of the customers. Having this customer understanding will inform your data acquisition choices.

Selecting a Data Company

Once you are confident in what you’re looking for you, can seek out the best data company. There are a number of considerations when choosing a company:

Do they have sufficient variables to refine your targeting? If you are looking to maximise penetration in certain sectors, then the more variables the company uses, the more refined your targeting will be. The more specific the targeting, the higher the response rate.

Can they support your channel requirements? E.g. If you are running an email campaign, does the company have sufficient emails that meet your criteria.

How is the data collected and how often is it updated? It is essential that the data you purchase is accurate, up to date and free of duplicate records.

The other services that the data company offers is also extremely important to understand. For example, do they provide analytical services to help you measure your campaign success? What validation and cleansing do they provide prior to outputting data to ensure it is clean and reliable. Having confidence that a data company meets each consideration is crucial before purchasing prospect data.

Briefing the Data Company

It is important to provide as much information as possible to the Data Company to help them provide the most suitable list. Applying the knowledge that you’ve gained from your existing customers to brief your chosen Data Company will refine the list to meet your specific requirements.

Analyse the Response rates

Identifying patterns using the variables on the data and applying this insight to future campaigns will enhance the impact of your campaigns. If you analyse engagement and response rates, the amount of qualified leads generated, and who were most responsive, you are in a strong position to make informed decisions about future campaigns and data acquisition.

To discuss any aspect of purchasing Prospect Data from Data8, Call 01513 554 555 to speak to a Data Supply specialist or visit: https://www.data-8.co.uk/services/data-supply to learn more.

We are attending The Business Show on 3rd and 4th December at Olympia, London, this blog was previously published on their website. Click to read more.