5 Good Habits you should follow to find the Right Data Provider
The data landscape is riddled with useless junk being passed on as gold. Data collection, assimilation and usage are not an easy undertaking.
Digital marketing is at a crossroads. The deluge of digital data began in the late 90s when the internet was evolving. With years passing by and methods of data collection changing, we have upon us today a whole lot of data, and honestly it's puzzling what we should do with it.
Digital marketing came about because of the internet. It evolved just as rapidly. The data deluge fueled marketing decisions heavily. Today, the marketing process has become a little more complex than before, and the lion's share of most budgets is allocated to internet-based activities. Digital marketing needs data, and the internet seems to be a perpetual source.
As a new-age digital marketer, your thirst for good data knows no limit. However, the catch is that your source of data is not up to its task.
Here are a few tips you can use to fight this trend, change the way you use data, and make hard cash from it -
- Know your sources : Data seems to be infinite and the opportunities to collect it are endless. To get the best out of data, you need to know where your data is coming from. If your data acquisition source is external, make sure you know where they are. Do they have the necessary skill sets to accomplish the task assigned, and do they follow high quality standards towards this process. You can get short changed very easily in this competitive environment. Always ensure that you stay informed about the processes, stages, and quality check points.
- Are the standards too high : Do you get a feeling that maybe the provider is going overboard with their assurances of quality and standards. Sadly, this happens more often than not. One of the best ways to decipher this is to find the spots where you know for sure that the numbers quoted are just too high to be true. If such a feeling creeps in, please re-evaluate.
- Segmentation : A data provider should not be measured by the number of contacts he offers, but by the segments he can pack into them. A good provider is able to give you multiple segments as standard. This shows their data collection strength, proving without a doubt that they do have what it takes to make your digital marketing campaigns work.
- Quality checks : Verify the number of quality checks the provider has put their data through. The more the better. One of the biggest issues with data is quality. It is a well-known fact that data decays at the speed of sound (if not light). Putting data through rigorous quality checks ensures that it is easy to use, does justice to the campaign parameters, and does not affect ROI badly.
- Product Portfolio : A company is as strong as the products they sell. If the data provider that you are working with has a big product portfolio, and it qualifies on the above parameters, then you have found the right one. There are only a few data providers who can truly provide you with pre-designed lists. This capacity comes through years of navigating the data landscape and understanding the business.
Database marketing can be tricky, and when not done in a smart manner, it can blow up in your face. Every data provider in the business is able to provide you with solutions, but that does not mean these solutions will suit your needs. Careful analysis and research are extremely important when picking the right data provider.