23rd Apr, 2020
Marcom, , Designation
When you outsource your database needs, you significantly save your research time and get more scope for the actual job, i.e. pitching and selling.
However, this ideal scenario is majorly dependent upon the quality of database you receive, which brings the focus to the database vendor you select.
One right choice would translate into a good quality database, more SQLs, and quicker closure and on the other hand, a wrong turn at this point will doom all your lead generation efforts.
Given the immense amount of significance riding on this one choice, here we have compiled a quick-checklist of major mistakes that you may commit and land with an incompatible database partner if you’re not very careful.
1. Not vetting the vendor
The data you’d receive from the vendor would only be as good as the vendor itself. Thorough research about the company along with a deep scan of the industry reviews about the same will help you get the right partner on board and a miss at this stage will lead you on the way of disappointment (and low lead count as well).
2. Hitting the send button or dialing the number right away
Once you get the database which ticks all your listed requirements, the typical urge would be to start the drill right away but save some sweat there and invest some time in researching about those contacts and building a prospect profile. This will require some time but will give you hooks for account-based-marketing, making your outreach more impactful and conversion-prone.
3. Not going for a customized list
There is never a ‘one-size-fits-all’ when it comes to database. Based on your unique targets and strategies, you’d need a customised market outreach which is possible with a curated contact list. The way to achieve that starts with a customised database and a smart vendor will have the provision of profile selection with which you can drill down the technographic, demographic, firmographic info, etc. to give you a laser-focused view of your target audience.
4. Not purchasing up-to-the-minute list
The shelf-life of database comprising decision-makers, is often quite small since those people would be getting promotions or changing jobs as well. While a substandard database provider will continue selling outdated and inaccurate data, you need to look for the one who keeps a track of the changes and provides you with the most updated database. No point paying for a database which will give you more bounce-backs than actual connects.
5. Not paying attention to profile selection
If the database which you are getting fits all the criteria of your target audience then do this last check to ensure it’s not a spent-out list. If the same set of database has been sold to your competitor and other companies in your domain prior to you, chances are that the leads must have already been sieved in that list. Therefore, despite the oddly-100% fitment to your criterion, the database may not serve you anything given the typical shelf life of any B2B product/ service would easily be 2 years. So, no use of that database till then and even afterwards since it would be a much-dated database by then. To avoid this, ensure to go very granular with your profile selection.
When you have come to terms with the fact that it is wiser to spend more time in doing what you must do (generate business from the database) instead of struggling to build a database from scratch, this is the next step on which hinges the success of your campaign – partnering with a database vendor.
We’ve tried to all major pits which you may encounter (but have to avoid at any cost) while looking for that partner.
Do you have anything which can be added to this list? We’d love to hear from you, please drop your thoughts in the comments section below.