The problem: In less than a year, one third of your data becomes obsolete, essentially rendering your executive database useless. Reason: Week after week, every week, seven executives out of 1,000 leave for new jobs.
The solution: Set up a robust and reliable process to update your data regularly. This can be done successfully by your own team or contracted to external providers.
Do you need data for your internal usage? Examples: Your CRM is fed with updated organizational charts designed to help your salesforce have a broader understanding of the executives associated with their accounts, and your servers are fed with the latest corporate news to watch your financial investments or monitor your competitive environment.
Do you collect data that you will monetize? Examples: You provide a SaaS application powered by advanced algorithms to let customers see their best business opportunities, or you license corporate organizational charts that integrate with your custom information to provide a comprehensive service to your subscribers.
Whatever your plan, use exclusively verified, current data. Having unreliable data generates mistrust and is bound to fail.
Share your project entirely with potential providers. The more you can tell your data provider about your project, the more experts can assist you with insightful and beneficial suggestions. Feeding data ultimately is a journey. Mutual trust and tiny details make huge differences for your business.
Obtain a sample of your expected data (e.g., all the executive names with their business titles and their company phone number in the pharma industry in the Americas). Check whether the data are actionable and integrate it with your existing data.
Ask for a data feed agreement. Most contractual clauses are common-sense business practices. The agreement should include the data to be delivered, the permitted use of this data (e.g., the data are accessible to all your employees), the update process (e.g. weekly delivered on your secured server), and the budget.
As an example, our annual pricing for a data feed agreement starts at $9,990. This agreement and pricing covers up to 10,000 companies and 100,000 decision-makers with weekly updates for an unlimited internal annual use within a small company.
To know more, please email us at firstname.lastname@example.org.