Before looking for a suitable data house, it would be useful to think about the following. It will help to ensure that the data you purchase is what you really need in order to meet all of your requirements.

As obvious as it sounds, you need a clear understanding of how you will use the data and this is very important. When purchasing a database for a chosen medium, you need to check what base information is provided. Additional information such as telephone numbers, fax numbers or email addresses may not be included and will need to be budgeted for.

What marketing medium will you be using the data for? You may be considering: Direct Mail, Telemarketing, Email Marketing, Fax Marketing
Generic company databases have better value base rates compared to databases with in-depth information such as IT Infrastructure (e.g. No. of PC's) and Financial Information (e.g. Profit Margins). The base rates of a database and any additional database costs e.g. selection fees or minimum order value should be researched as it can affect your overall budget.

Costs of data can vary according to: Type of selections used, the information provided and the size of the database.
Databases are sold with different licences. The cost of your database will depend on the number of times you need to use it. If you plan to use the database more than once, you need to enquire as to what type of licence the database you need to purchase.

Although this will vary between suppliers, the most common types of licenses are: One-off use – usually mail only, One-off campaign use – mail plus telephone numbers, Limited time multiple use – use as many times as needed within a certain time frame, Eternal use – use the data as many times as need without a time limitation.

Depending on the complexity of the data you require, there will be a variety of data criteria you can choose from. This is one of the most important aspects of your campaign, as the data you select will determine the success of your campaign.

You will need to research your existing customers as this will give you a good insight into the types of companies that you have found success selling to. Look at key criteria such as geographic location, company size, industry sectors and the job functions of the individuals who place the orders with you.

The medium you are intending to use for you campaign will determine the level of information you require from your selections. If requiring data for an email campaign for instance, you need to ask that all selections are provided with an email address. The information you require also affects what direct marketing legislation is relevant to your campaign.

Following your market and customer research, you should have a good idea of the kind of organisation attributes you’re looking for. There are four key areas to first consider when selecting data: industry, geography, size, and decision maker.
Always ask a potential supplier how they collect their data. If they are vague or unable to give an answer, steer clear!
Don’t forget, the quality of a database is generally reflected by the price paid, due to the cost of regular and in-depth updating methods used by the data company.

Data can be collated through a variety of methods, from tele-research to magazine subscribers. Validated data e.g. tele-researched is usually of a higher quality than lists collated via other methods i.e. exhibition attendees or web harvesting.

Like data collection methods, updating methods vary from regular mailings to tele-research, and from gone-away updates to information given by clients.

Lists from exhibitions, conferences and seminar attendees are very rarely updated, if at all, after the event. It is also widely understood that where a reward is offered (a free magazine subscription or exhibition entry), people are likely to exaggerate their status in order receive this, thus leading to inaccurate information being collected.

A good gauge as to the potential quality of the database is how confident the supplier is in their own product. A strong guarantee (such as refund on any gone-aways) will establish confidence and will mean you only pay for the contacts that receive your message.
Most data companies state that their information is updated on a daily basis. Although this statement is correct it can be misleading with the actual age of marketing data varying considerably from 6 months to as much as 3 years. By asking the average age of the database and taking into consideration the types of businesses and contacts you will be targeting, you will be able to be sure that the oldest record supplied will still be relevant to you.

Find out more about what SO Marketing can do to source your new campaign data - call us today on 01538 750 538!

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