There are many companies that still think that the most valuable asset they own is related to finance but they need to know that data is the most valuable asset owned by any company and the same applies to B2B industries as well.
We are witnessing the proliferation of data creation from just the past couple of years as businesses have become more data-centric. You will be surprised to know that every day, around a quintillion amount of data, is produced and a larger chunk of it available has been created only during the last two years.
With the increasing importance of data, you can also see an influx of B2B marketing data providers and that’s’ what makes choosing the right one from the pool of best B2B marketing data providers difficult.
If you are completely new to the world of database management, then things will get more complicated for you. But you don’t need to worry as this blog post will guide you in choosing the right B2B marketing data providers without any issue.
Here are the qualifiers to use to evaluate a data provider offering content syndication services.
What is your lead generation process?
In order to evaluate a data provider, you will need to work with your sales team, marketing team and stakeholders in order to identify your lead generation process. Here are some of the important points to consider while identifying lead generation process for evaluating data provider offering content syndication services:-
· Come up with a customer persona on which everyone will be assigned. You can surely make a few changes but make sure the features and attributes are similar to your ideal customer.
· Be clear about the channels that you will target through all the lead generation tactics. The customer profile of your ideal customer will give you a clear idea about the places where your prospects spend time.
· On the basis of the above-mentioned points, you will need to come up with various points for evaluating a data provider.
What are your KPIs?
If you will have well-defined KPIs right from the beginning then you will be able to easily measure the ROI and & evaluate whether database marketing services are proving to be beneficial for your company or not.
Defining the KPIs for measuring the ROI will also help the stakeholders to use data effectively and come up with a proper consumption rate. But in order to define KPIs, you will have to begin working backwards and start from the number of leads you will need in order to achieve your goal.
Quantity and quality of data
The quantity of the data obtained from database marketing services will affect both the speed and flexibility of your lead generation campaign. And this is the main reason why you will need to evaluate your data provider company on the basis of their quantity of data. Along with the size of the database, you will also need to look at their speed of scaling up and turn-around time.
Along with this, you will also need to evaluate the data provider on the basis of the quality of data. And the quality of data is not analyzed on the basis of the accuracy of phone numbers and email addresses only.
If a data provider is not able to match your criteria based on the type of companies (on the basis of industry, size, and revenue) you are targeting then there is no use of working with such a company.
Check for total addressable market availability
The total addressable market (TAM) refers to the amount of money that you can generate by offering what you are selling to people. A more common term used for TAM is available to the market.
Checking the availability of Total Addressable Market is very much necessary because you will never wish to work with 7–8 data providers in order to cover the whole TAM of your marketing campaign. Sales is purely a number game. If you are making 100–200 calls every day or sending 500 emails on a daily basis and getting only 10–20 engagements then it is a total loss for you.
Don’t commit for a long term initially
You should never commit for a long term initially because your marketing team will always be on the hunt for new leads in order to meet the target. And if you are being forced to commit for a long term initially then you should never work with such a data providing company. A good data providing company will never force you in signing long term contracts as they are also aware of the urge of marketers for new leads.
You might stumble upon some data providers trying to make you succumb to long term contracts through enticing offers, but be specific about what you need and make the right decision.
Working with good data providing companies is crucial in the modern era and this is why you will need to dedicate both time and effort in zeroing down the available options and choosing the best one. Even if you are already working with a data provider company, still you can use the above-mentioned qualifiers to evaluate a B2B data provider offering content syndication services as well.