5 Prerequisites to Choose the Right Database Service Provider

Data is the engine that keeps a business running. However, poor quality B2B database will cut no ice. Without quality data in hand, one might miss the bus, as feared by 94% of businesses doubting the quality of their data.

Therefore, hiring a database service provider seems to be a rosy path to secure the greatest bang for the buck. However, while choosing the best one from a flock of B2B database providers, businesses must keep some things in mind. Scroll down to figure out the golden five!

Better No Data Than Inaccurate Data

Ensure that the data offered by the database service provider is dynamic and precise. Data accuracy depends on factors like processing methods and re-verification/ enrichment policies.

Vendors provide human-verified data with regular updates to keep pace with the data decay rate. If database service providers deliver static, invalid, and unverified data, businesses might pay for figures that hardly matter, even up to a quarter of the total revenue!

Does the Data Help?

Ensure that the data offered by vendors align with the business strategies, target audience, and geographical requirements. For instance, if the company wants region-specific data on Singapore, look for companies offering B2B databases in Singapore.

On the other hand, while catering to the needs of a global community, businesses must expect international coverage from their database service provider. Moreover, some data providers offer customised data and sophisticated filters to help get access to numbers that matter.

Nothing Beyond Integration

Game-changing numbers can be futile if database service providers fail to provide data in a format that integrates with the business’s CRM platform and marketing tools. Ensure an effortless platform integration and data synchronisation.

However, if the vendor fails to support the required platforms, one cannot help but witness data wasting. Therefore, ensure that the service provider can securely integrate data into the CRM/ marketing platform.

Hit the Best Price

Data is an investment. Therefore, focusing on maximising the ROI while choosing a database service provider. Navigate the pricing plans and choose the best one that offers maximum flexibility within the budget.

Ensure that the vendor has a transparent pricing policy. Negotiating with the service providers for a better price is also acceptable. Also, inquire about pricing-related policies, like plan flexibility, subscription renewal, cancellation charges, refund process, etc., before signing the deal.

Bad Data and Privacy Policies

What if database service providers fail to meet the business’s expectations or deliver incorrect, incomplete, or inaccurate data? Make sure that they have provisions to address bad data.

In other words, ensure that the vendor shall take responsibility for data accuracy and provide discounts, concessional credits, or something similar if they provide bad data. Also, ensure that the service provider adheres to GDPR and CCPA standards and ethically collects, stores, and distributes data without privacy violations.

Wrapping it Up

Getting lured by database service providers that will get avant-garde data matching the business needs and geographical requirements isn’t a big secret. But there’s a caveat!

Investing in database service providers offering outdated information, eleven-digit contact numbers, and a pot of unverified profiles will make the business run in circles. Therefore, while choosing one, ensure it meets the above five prerequisites.

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