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Is buying data really a bad idea for your business?

Is buying data really a bad idea for your business?

MarketingFile - Is buying data really a bad idea for your business?

I’m going to let you into a little secret. Collecting your own client data is much better than buying in data from a list provider. You always have a better chance of selling to someone if they have offered you their information.

Yet, this does not mean that buying good quality data as part of a wider strategy is a bad idea.

There are many articles stating that purchasing prospect data is never a good idea. But, is this actually the case? Let’s have a look at some of the objections to purchasing a list.

Some companies sell lists of ill-gotten email addresses which will harm your company's reputation

This is true, but there are dodgy companies in all industries. That does not mean that there are no reputable companies.

Avoid companies who promise thousands of records for pennies. Instead, work with a company that will help you select targeted prospects.

Do your research and look for a company that is a member of the UK Direct Marketing Association. You can check on their website here.

Good email address lists aren't for sale. Even if the addresses were once good, they will now be overused

This assumes that companies hold a master list that they distribute in full to anyone who asks. But this is not how it works. No reputable company will sell a list to anyone, let alone everyone.

They only sell a selection of data, based on the individual requirements of each company. Many, many companies may buy a selection of data from the same list without any name appearing twice.

To ensure spamming doesn’t take place, list owners restrict usage. They also seed their data to track usage.

People on a purchased list don't know you

If you are one of the approximately 5.5m SMEs in this country, the chances are that they don’t know you. But, if you don’t reach out to them, the chances are that they never will.
Structure your campaign the right way, and your message has a good chance of being well received.

Poor lists and shoddy campaigns have made people weary of buying prospect data. But high quality, targeted data enables you to contact people you’d not reach in any other way.

Done the right way, prospect data is a cost-effective way to promote your business and find new clients.

To find out how we can help you make the right decision about data, click here to get in touch.

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