3 Reasons Today’s Marketing Datasets Are a Whole New World
Purchasing pre-populated lists for marketing is not a new concept in the business world.
3 Reasons Today’s Marketing Datasets Are a Whole New World
Purchasing pre-populated lists for marketing is not a new concept in the business world. For decades marketers have been purchasing email and direct mail lists based on a variety of “check-the-box” criteria. For instance, all single family households in a 3 mile radius with $150k+ annual income, or all email addresses of attendees to a conference. Check, check, check – and out comes a list with the most recent information made available.
Although this was a great place to start, as with any industry, marketing data providers have evolved from copy, paste characteristics to dynamic and multifaceted profiles that require input from a variety of constantly fluctuating sources. So, although list buying isn’t known as the hottest new trend, here are 3 reasons that may make you consider taking another look at purchasing marketing data.
1. Data is reactive
In this in-the-moment, real-time marketplace marketing data providers can no longer provide a stagnant list of applicable contacts based on information from months prior to pulling the list. Data providers are now providing information that is as reactive as the consumers with files being updated weekly, sometimes even daily, to ensure the most current and accurate information.
Thanks to cutting edge data technologies marketing data providers now have high-efficiency, automated systems to cleanse and append data files almost the moment a client moves locations, changes contact information, or alters their consumer profile in any way. This means less time and money wasted on returned marketing pieces, disconnected phone lines, and bounced emails.
2. Better, faster verification measures
Aside from consumer profiles being updated as characteristics change, methods of verifying the information has also improved. Because there is such a large variety of sources that intake customer information, these datasets can be cross referenced to ensure consistent accuracy among files. This can also help with appending lists.
For instance, database A has an email and phone number for Customer 1. Database B collects online purchasing information on Customer 1 and has a physical address, but not an email or contact number. By integrating these disparate data sets, the client is given a comprehensive view of the consumer in one list.
3. Deeper insights
The most impressive progress that has taken place in the marketing data industry is that consumers can now be targeted with deeper insights beyond just location and demographics and firmographics. Data enhancement solutions now offer deeper insights into consumer behaviors and interests which allow for unprecedented targeting. Data mining of online consumer interactions and social signaling has forever altered the landscape of consumer insights as now marketers have access to not only who the consumer is but what they are thinking, and what they will most likely do next. And with internet retail sales expected to grow 10% each year (Forrester Research), companies are finding these insights to be invaluably better than the targeted campaigns of yesteryear based on consumer proximity to a brick-and-mortar location.
To learn how marketers are using real-time data to target and acquire in-market prospects, download this free solutions guide.
