What to look for in ideal Data Provider?

Effective marketing database empowers your organization. Most B2B marketers rely on customer data from third party suppliers. But how do you choose among the myriad data providers out there? With accurate and continuously refreshed timely data at your fingertips, you can save time, effort and money to execute sales and marketing campaigns with an optimum ROI.

As we are all aware, bad data/outdated data by data provider will mean missed opportunities which eventually leads to decrease in business.

As per Eco Consultancy, Marketing attribution was the most common, with 48% of respondents citing this as a pain point. The second and third most common data challenges for respondents were ‘turning data into insights’ (47%) and ‘turning insights into actionable segments’ (45%).

A research report published that an astonishing 75% of organizations report errors in their contact data. This includes duplicate records, missing information, inaccurate contact records, and of course, outdated contact information.  Organizations dump thousands of records into a contact data resource that results in hundreds—if not thousands—of wasted man hours, not to mention costs to hire and pay sales reps to chase bad data.

Both businesses and customers can gain a lot from taking a data-driven approach to marketing. When you have good data provider, they can fuel your company’s successes and minimize sales and marketing efforts. If they can provide global, regularly refreshed, accurate, and up-to-date contact data it can boost your opportunities to conversion ratio by 20-40% and a 50% reduction in marketing related efforts and expenses. This allows you to gain better marketing ROI.

We have complied a checklist for ideal Data partner:

Accurateness-CleansingAptness

You’re blessed if your data partner continually updates information, intelligently consolidates disparate records and takes precise steps needed to clean bad data.

Verified Emails and Direct Numbers

Contact data is best used for campaigns when it’s verified and normalized—meaning the information is formatted consistently and conforms to data standards.

In-depth Coverage

Look for a partner who is proficient in his coverage across broad range of businesses, and makes sure the data is detailed. Depth of information means more clients can be accurately assessed and effectively targeted.

Geographical Coverage

A data partner needs to identify records from across the globe – opening up profitable global markets for your business.

Real-Time Industry Alerts

Prompt notifications on impending opportunities helps you time sales efforts for better business ROI. Additionally, awareness of internal IT initiatives and budgets helps your sales team pitch the right solution to fit the bill.

Predictive Analytics

Sophisticated lead scoring analytics and derived data capabilities can take data to the next level, inferring potential outcomes and measuring data points across various categories. The ability to filter, segment and manipulate data for analysis can also yield significant insight for sales strategy.

3rd party API Integration

Ensuring the partner’s data syncs up with your in-house CRM/MAP software making it easy to leverage information for significantly boosting your campaigns ROI. Also, make sure to see if the data partner has added technology capabilities hooked in. Integration with top marketing tools like Salesforce, Marketo, Eloqua can offer further insight into the data provided.

Price

Finding the perfect blend between value, cost and budget is no easy task but finding the key area of competency to measure in a partner can help with the equation.

Smooth Customer Support

Look for a data partner with admirable client reviews and a standing for being a reliable business partner. These are perfect indicators for understanding the right kind of support.

Speed

The most important thing is how quick the data is delivered for using in your campaigns. Your campaign goals achievement depends on how soon you get the data delivered to you.

Visualization

The application with automation should demonstrate results via visual dashboard. Deep dive to provide intelligent insights along with recommendations and optimization.

Ultimate Solution

SMARTe as data provider has designed unique marketing strategies to enable our clients’ one-to-one engagements. We offer a personalized customer experience that has been proven to be quite effective in nurturing relationships with customers. Because of this, large brands are making huge investments in order to improve the functional efficiency of their marketing operations.

With the ability to go beyond traditional data projects like serving our global clients with top-level contacts from gaming software, luxury brands, FMCG, credit unions industries and many more. Our out of the box thinking and creative data strategy recommendations especially the ‘Ex-Employee Happy Customer’ has made clients turn to us time and again for their data management plans.

With this combination of global database and larger industry segments coverage along with efficient delivery by our strong 250+ human + technology methodology we elevate customers marketing efforts.

SMARTe works as a true agile Data-as-a-Service partner to provide ‘high quality global contact data’ fueled by data science. We accelerate the buyer journey using Artificial Intelligence and NLP technologies in combination with decades of domain expertise delivering highly relevant and most accurate prospect data.