Business owners are always naturally on the lookout for a good deal. Bigger, better - and usually cheaper. The fact that we've been inundated with calls from people looking for a way to redeem their data faux pas is testament to this. They hoped for bigger and better datasets at a lower price, and it's come back to bite them.
In a time of economic turmoil, and businesses pivoting their models to remain financially viable, the one thing we can guarantee is that cheap data is just not worth it. Dodgy data providers are preying on desperate, unsuspecting businesses and selling them cheap data which is non-compliant and sub-par quality – on the premise of an inexpensive initial layout.
Are you asking the right questions? Are your data suppliers asking you the right questions? It's time to hold yourself accountable before the consequences of poor data make their way through your door. We want to help you understand what you risk when you choose cheap data, and how a higher price leads to higher profit.
What's at risk when you choose quantity over quality?
We see the fallout from poor choices all too often, and the last month has been unprecedented. Public brands - especially regulated organisations - stand to lose an unimaginable lot when they delve into the murky waters of cheap data. Word of mouth and public reputation are only the tip of the iceberg of what's at risk.
Imagine handing over a mile-long list of leads to your telemarketing or sales base, only to find out a full day later that those leads are worthless. You might shrug it off as a bad purchase, but what about the unseen knock-on effects it'll have on your team? You're up against a potential rift between staff, decreased sales, diminished leads, obliterated morale, and should we even touch on the demolished profits you're facing? Also, the fines. You could face mammoth financial repercussions if you're using dodgy data.
Would you trust that a Rolex you bought in a pub for £50 will be genuine? We're guessing not, so why did 100,000 email addresses for £500 seem like a good idea? We could blame it on impaired judgment in both instances - but the difference is - your entire brand is not at risk when you slide over a red note at the bar. If you're having trouble flagging data cowboys that are out for a quick buck, we've got some light reading at the ready for you.
What does quality data cost - and why?
Let's just be real here. We all want the best available product for the lowest possible cost. If we can draw a quick parallel between expensive cars and cheap cars - it starts to make more sense.
You spend a fair amount each month on your elite BMW, while your mate chooses a cheap run-around that cost him a couple of grand. You know that no matter what, as long as you pay that monthly instalment, you're good to go. Your mate might have a few lucky streaks, but pretty soon, he's going to be ringing you up asking for a lift while his Corsa is in for repairs (which are likely going to cost more than the car is worth!)
Your BMW is reliable. It costs a decent chunk, but you know it's going to get you from A to B and back again. The cheap run-around - well, we know where that's headed. Cheap and not so cheerful! Not to mention the tangible risks you face when you drive an unsafe car. Ask yourself - would it not make more sense to spend a bit more to eliminate so many consequences?
In all honesty, good quality data is not exorbitantly expensive. You'd be right in saying this is a biased statement; a creative freedom we allow ourselves because we know what we can provide. Bespoke UK B2B data, fully compliant and qualified should cost you in the region of 15p-45p per line, dependent on volume and brief. (Click here if you're done reading and just want to get on with buying proper data!)
If you're battling to justify a higher cost for better output, consider the amount of work that's gone into sourcing your reliable data; staff costs, running and maintaining a large file, the volume of leads. You just can't expect that same level of output if you're only willing to input a couple hundred towards hundreds of thousands of lines of data.
Why quality data works: you get what you pay for?
Databroker scours the market for quality providers, offering guaranteed accuracy and unrivalled compliance. Building and maintaining these quality files costs hundreds of thousands per year.
Ever considered the components in the recipe to success? Files will include some or all of these feeds (all costing investment) to provide you with unmatched precision in your data lists.
- Large UK based call centres making thousands of verification calls
- Feeds from directory services such as 118s
- Royal Mail PAF file
- BT OSIS Telephone file
- Movers and pre-movers data
- Preference services, such as TPS & cTPS
- Job boards/relocation boards
- Social media feeds
- Publications and industry news
- Relevant subscriptions & catalogues
- Hard bounce verifications
- Ping tests
- Search engine information
- Business information questionnaires
- Technology information
- Customer feedback
If you're ready to buy genuine, high-quality data that will provide you with the resources you need to start making more money (without landing you in any hot water) - we're here and keen to chat. Get in touch with us today by filling out this form, reach us on 0161 941 5700 or email us at firstname.lastname@example.org