So you found an unbelievable deal on a mailing list for your business’s next direct mail piece. And even though it’s from a company you’ve never heard of before, you figure it’s worth it to save a few bucks. Data is data, right?
Wrong. Here at InfoUSA, we estimate 80% of business and 20% of consumer data changes annually. Without any guarantees on the accuracy and freshness of the information you’re buying, there’s a good chance that a cheap list could turn costly in the end.
What Is Bad Data Really Costing Your Business?
Wasted labor can be a huge drain on your business’s bottom line. In fact, businesses lose an estimated $20,000 annually per sales representative on bad leads.1 Just think about it—not only are you paying employees to spend time doing nonproductive tasks, but every bad lead they chase also means less time spent connecting with potential customers. It’s a negative hit to your business’s productivity and sales.
Consider the hard costs associated with just one undelivered piece of direct mail—the postage, printing, and paper may not seem like a lot, but it all adds up very quickly. The average company wastes $180,000 annually on direct mail sent to undeliverable or incorrect addresses.2 Just consider what that kind of loss could mean to your business’s marketing budget.
It’s no surprise that inaccurate or incomplete data can result in missed opportunities. But did you know that bad data quality costs U.S. businesses more than $600 billion annually?3 Run a quick estimate of your missed revenue and you might discover that you’re losing out on more than you think.
Look for True Value Instead
- Experience – First and foremost, how long has the company been in business? There are a lot of fly-by-night data shops that will open and close quickly. Buyer beware.
- Quality control – Some companies simply skim data from other reputable providers and sell it—regardless of quality or age. Look for a provider that compiles and verifies its own data on an ongoing basis.
- Reputation – Check out reviews from other buyers. Consumer ratings sites such as ResellerRatings.com can offer valuable insights into other customers’ experiences.
- Service – There’s no substitute for good old-fashioned customer service. Be sure you’re choosing a company that has experts on staff to assist you when you need it.
Trust the Experts