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What is Business Data?

Date Added: September 03, 2012 01:39:09 PM
Author: Henry Careey
Category: Business & Finance
The term business data usually refers to data that is used for marketing products or services. It can also mean other data such as accounts, production logs and any data related to running a business. However, the majority of the time it refers to the data companies hold about their customers. The Importance of Business Data Good quality business data is the lifeblood of successful firms. This data enables them to find new potential clients and to send them marketing material they will actually respond to. There are two basic sources for this information. The first source, which should never be overlooked, is your own sales data. When you sell something to a company or private individual, you should always try to collect their contact details. Later you will be able to use this data to send them information about similar products and services. The chances are that they will buy further products from you. However, you should never rely on just your own sales data. Doing so means that you are unnecessarily minimising the pool of people you could potentially sell your products to. To grow your business you need to target new consumers as often as possible. Luckily, you can easily do this by buying email or data lists from business data brokers. These brokers collect the contact details of businesses together into databases. They then divide this data up into sectors and sell those contact details onto other companies. These companies use these lists to send out their marketing material and gain new customers. Buying the Best Business Data However, not every broker offers a good service. Some brokers sell lists that are years out of date. If you are unlucky enough to buy a list from one of these brokers, you could find yourself sending out marketing materials to firms who have been out of business for years. When it comes to business data freshness is vital. It is important to look for a data broker that regularly reviews their list of contacts and updates it. The best brokers provide lists that include the email addresses of the person that is the decision maker when it comes to where certain products are bought. Lists made up solely of general email addresses are worse than useless, and should be avoided. The Data Octopus sells only fresh business data . They make 50,000+ phone calls each month to check the validity of the contact details they hold and update their lists.
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