This is Why Cheap Lists are Never the Right Answer
On paper, buying a cheap list can seem like a great way to cut costs and ensure your sales and marketing efforts increase your return on investment. But, in reality, you’re likely just wasting your money on outdated contact information and data that won’t get you anywhere.
According to our database experts, 80% of business and 20% of consumer data changes annually. That means without a guarantee on data accuracy, that cheap list is going to quickly burn a hole in your budget. It’s no shocker here, but you really do get what you pay for.
In fact, bad data costs the U.S. economy $3.1 trillion per year, according to a report in the Harvard Business Review. The report said 27% of people are unsure how much of their data is bad. The report also said one in three business leaders don’t trust the information they’re provided.
So what does a quality mailing, email, or telemarketing list include? Quality data. Simple, right? Well, there’ a bit more to it than those two words. These fly-by-night data shops, as they’re often called, lack the expertise and quality control to provide business owners and sales professionals with the newest information.
Some of these companies even resell data from more reputable companies at a lower cost. You’re asking: “What’s the catch?” There is one. Typically, data resellers are trying to sell you much older data for a lower price. Now is that data worth your money if there’s a higher chance of old mailing addresses, incorrect phone numbers, email addresses, fax numbers, and other contact information? In short, no.
Be sure to read consumer reviews of the companies you’re looking at on reputable websites such as ResellerRatings.com. These reviews offer valuable insights into the experiences of real customers. Lastly, nothing beats good old-fashioned customer service. When it doubt, don’t hesitate to call the data company on the phone. Have plenty of questions, and be prepared for their answers.