24th Mar, 2020
Marcom, , Designation
By now you are well aware of the significance of quality B2B database and the risks you endure if you even slightly drop the quality benchmark. Whether doing cold calling or running strategic account-based marketing campaigns, quality B2B database is the starting point of your journey.
Building up the B2B contact list or database from scratch and ensuring it’s relevant, up-to-date and complete means a heavy investment, in terms of not just money but also time and people resources. Even if you invest all that’s required, you may still end up with outdated or not-so—relevant databases at the end owing to technological advancement, people’s movement, etc.
While your eventual goals and personal cost constraints may play a defining role in deciding whether it is best to build or to outsource database services, the latter is generally a better choice in most of cases.
Let’s look at some of the benefits of outsourcing database services:
1. Outsourcing database services equal to outsourcing significant risks
In the fast-paced world, technological obsolescence is a real thing and falling prey to it is avoidable if keeping a score on that front is not your job but that of database suppliers. The task of managing the complexities which may arise (from time to time) also falls upon the vendor who is a specialist provider (and thus, more adept in dealing with the intricacies of database platform or any specific database need).
2. Channelizing energies where they are required
When you outsource a task that acts as a fuel to propel your business in the direction of your vision, you not just save your money in the long-run but also the physical and mental bandwidth to focus on more important issues to accelerate your journey. Your staff can focus their responsiveness on building business in alignment with their priorities, skills, and experience.
3. Lessening the time to market (Opportunity cost)
When time equals money in the current competitive market landscape, you save an enormous amount of time by not doing the database building in-house and instead outsourcing it. A good quality outsourced database gives your business the required head start it requires.
4. Reducing the total cost of ownership
Primarily, you save on up-front capital. Also, you save on the resource cost since their attention will remain focused on their core job instead of getting diverted into building the foundation upon which they can carry out their business. You get access to all the expert-build APIs, predefined integration (for easier database sharing between departments) without spending your time or people resources on the task of building those.
5. Improving security and compliance management
With data privacy regulations getting stricter gradually on a global level, database compliance management is one aspect that businesses cannot afford to ignore. In fact, if building a database management system in-house, compliance management measures should be a part of the design and application from the beginning. It will take effort, expertise, and money to do that in-house. However, in the case of a database service provider, these are part of the core capabilities (given the nature of their business) and therefore you can be more assured of improved security and compliance management.
6. Availability of on-demand support
Outsourcing database services is not a ‘one-time’ project where the deliverable of the vendor ends just after sharing with you the database. You also get the benefit of ongoing support tailored as per your needs and budget. This ensures that your in-house teams will have the scope to seek guidance whenever any complexity may arise owing to technical upgrades or change in needs etc.
7. Improved flexibility
When you’ve built your own database solution, it is difficult to make it adapt to changing market needs because of the cost and effort associated with it. However, when you outsource a database, the burden of making any adjustments gets transferred to the database service provider. The provider is always making the requisite changes and upgrades in line with the market trend in order to remain a relevant player in the domain, thence, you get to benefit from the automatic innovation you get access to.
Now that you’re aware of these benefits, even if a few are relevant to you, it would be a wise choice to outsource your database services instead of choosing a costly way to build a good b2b contact list.