Businesses who want to target as many people as possible with their products or services may be interested in buying data that allows them to email, call or send promotional literature to more contacts.
However, the world of data services can be complex, so read this guide for a better understanding of how you can buy a list to promote your business.
The benefits of buying data
- Purchasing data helps you connect with potential customers you would not otherwise have been able to contact.
- You can then direct e-marketing campaigns, leaflets and sales calls to new names, with the intention to lead to more awareness and sales for your business.
- It is very difficult to build up data organically, so having new lists you can target regularly will see you reach thousands more people than you could with your own.
- List companies will enable you to create reports on your data and marketing strategies by assessing the bounce rates of e-mails, conversion figures and click-through-rates. This will enable you to tailor your campaign to really target your market.
How to choose a data list
More than 200 companies offer mailing lists, making it very difficult for businesses to know how to choose one that will benefit them the most. Here are just some things to consider when picking data:
- Targeting businesses or consumers? – You first need to ascertain whether you are targeting other companies or the general public, as there will be thousands of lists available for each. Your decision should be based on what service or goods you are selling.
- Breakdown data to really target your market – There is no point sending your email or letter to 50,000 people if only a handful of them will be interested in the subject. That is why it is so important to really analyse the data carefully to only send it to people who are relevant. You can split the data based on their geography, company size, industry and job title, and it is worth finding out as much information as possible about the list to make sure it is the right one to be targeting.
- Choose fresh data only – Do not buy data and sit on it for a while, as data decays at a rapid rate. Indeed, 30% of your list will be irrelevant within 12 months, so you will need to refresh it constantly to get good conversion rates.
- Compare data lists – Spend time comparing data lists and companies to ensure you are getting addresses that are relevant to you and are dealing with a company you can forge an ongoing relationship with.
- Avoid dodgy data firms – Make sure the business is a member of the Direct Marketing Association so you know they are reputable, and ask to see a sample of the data beforehand to get a good idea of what you can expect. Make sure the data is legally compliant and up to date.
Watch out for hidden costs
You can expect to pay from 10p to 40p per contact, but what you get varies significantly between each company. If you choose the cheapest quote, you should be aware that they may make you pay extra for phone numbers, addresses, delivery, company data and names.
For the higher end of the budget, you will receive most, if not all, of this, depending on whether you want to use the data once or repeatedly.
Once you have a good contact at a data services agency, you might be privy to new databases or discounts before anyone else.