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The Essential Components of a Good Data Vendor

The Essential Components of a Good Data Vendor

The digital marketing realm is an ever-expanding universe that continues to grow and provide new ways for businesses to connect to their customers. Marketing teams have eagerly hunted for new and innovative ways for taking advantage of lead and customer data to ensure better campaigns, and thereby better conversion rates and customer experience. It is now possible to easily quantify information, such as consumer behavior and buying decisions, the effectiveness of different marketing channels, and more, to form clear buyer personas, customer segments, and better campaigns.

Big data rules the world of marketing. However, as marketers continue to utilize this data in more and more creative ways, the importance of quality data increases tremendously. Bad data results in ineffective campaigns and mis-represented customer segments, which can negatively impact your company’s brand and marketing budget.

Industry vets have painstakingly realized: you cannot collect quality data on your own. Imagine yourself as a dog-walker on the first day of your job. You’ve to take care of ten different pooches, all walking in a different direction with a different motive. The same applies to marketers trying to swim in the sea of data without any support from a good data vendor. 

The sooner you realize it is extremely hard to manage data on your own and invest in a good data vendor, the quicker you can start to truly unleash data’s true potential. The next step in your journey of finding the right partner is understanding the essential components of a good data vendor.

Up-to-date and Clean Data

A good data vendor will have accurate, up-to-date data that’s complete and exhaustive of the respective industry. Check how often they update their data and what processes and resources they utilize for updating. Up-to-date data ensures data cleanliness. It pays attention to the same issue highlighted by the popular saying in the programming world: “trash in, trash out.” Bad quality input leads to flawed output. Maintaining a database that does not have any “garbage,” that is incomplete, incorrect, outdated, or duplicate datasets ensures a more accurate data analysis.

Data Accuracy and improved data analysis means:

  • More accurate customer segmentation: Scrubbers firmographic and demographic data allows marketers to identify market fit and curate customer profiles better. 
  • Better industry fit: For instance, a medical software company focusing on physicians has no need for automotive business executive contacts.
  • Consistent and accurate contact data for quality leads: It ensures quicker conversions and improved lead scoring.
  • Improved customer experience: Data cleanliness ensures you will avoid sending duplicate messages or emails to a single customer, less emails to unsubscribed customers, and have less annoyed or disgruntled leads or customers. 

For these reasons, your data vendor should update and comb data several times a year so you know that there are no issues in your data, such as duplicates, and your firmographic information is validated. In your conversations with a data vendor, these are questions to ask to ensure a plan is in place for data updating.

Flexibility and Customization

Flexibility and customization is also important to ensure you see the highest possible impact from your data. A good data vendor will ensure the data is easy to download, retrieve, change and manage, but more importantly the data comes with customization and flexibility. Data flexibility lets you tailor your queries according to your particular needs. 

Think about the times you have unsubscribed from emails or simply passed over countless spam messages with uninteresting subject lines. What led you to that decision? While a property owner list may seem like a strong base for a campaign, a first-time home-buyer campaign that lands in the inbox of a seasoned real estate investor will be passed over every time. Prospects respond to messaging that appeals to their specific needs, and customization in your data lays the foundation for more thoughtful campaigns.

Good documentation and Resources

Many people never realize that they are not getting the best results due to not truly understanding the possibilities of their data. A good data vendor will provide well-written documentation for good customer service and to ensure full use of the product. Good documentation communicates, instructs, and records useful information for operational and reference purposes. This will make it easier to track and inspect the progress of the data system and to understand its workings.

BatchData as your Data Solution

A robust data solution will incorporate all three of the components mentioned above to ensure precise, high quality data. It will allow you to generate accurate insights and analysis for effective campaigns. Therefore, it’s essential you find a data vendor. BatchData is one of the nation’s leading real estate data quality, verification and identity resolution, helping over 10,000 businesses worldwide harness accurate data for a more compelling customer view. Contact us here to see how we can help.

Austin Proctor

Austin Proctor

Technical Writing Manager @ BatchData

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