Six questions to ask when you’re choosing a data supplier

Kirsty Winter, General Manager at Insight Data, is offering top advice to fenestration companies to ensure the prospect data they purchase is accurate, relevant and compliant with UK data laws.

If any business, large or small, wants to increase its sales potential it must necessarily find ways that will bring it in contact with customers. One of the most effective is the purchase of data that provides the business with up-to-the-minute information about the companies and organisations that will help establish drive and convert sales.

Insight Data is one of those companies. We’re experts in the compilation of data, centring on the fenestration and construction industry, and we constantly update our existing records while seeking out newly-formed companies we think will be a good fit for our clients. All this information is uploaded to our Salestracker platform, the UK’s most accurate prospect and marketing data with in-depth market intelligence all online, in real-time.

So if you’re a company looking for more leads, it makes perfect sense to pair up with data suppliers like Insight. However, doing your homework is always a clever idea, and to help you make an informed choice we’ve compiled a list of questions we feel are worth asking any potential data supplier before you get them on board.

1: What is the source of the data?

In an age where the truth of what we read is often highly questionable, it is vital that you have complete faith in your supplier’s knowledge bank. You need to make sure that it is collected from a reliable source, and not harvested second or even third-hand. Here at Insight Data, our trained and experienced call centre staff make more than 20,000 telephone calls a month, checking and updating records. We have data analysts who constantly analyse the quality and accuracy of our information. This means our clients can make informed decisions based on data that is guaranteed to be trustworthy.

2: Is the provider allowed to collect and sell that data?

Since May 2018, GDPR (General Data Protection Regulations) laws have defined how personal data can be collected, stored and sold by data providers.  So a valid approach is to make sure the data supplier is GDPR-compliant, and that you are too. One of the main GDPR-related issues for data suppliers is that they must clearly document the personal data they hold, how and when it was sourced, how it will be used, how it is updated and who will have access to it.

3: When was the last time the data was updated?

There’s nothing more frustrating for a business chasing leads to discover that emails bounce back, phone numbers have changed, staff have left or even that the lead has gone bankrupt. In other words, the data you’ve been supplied with isn’t fit for purpose.

On average, records on the Insight Database are verified and updated every 90 days. We even credit check the companies on our database for financial stability so our customers can feel confident they’re targeting solvent firms. Plus, we also send more than five million emails a year, which means on average every email address is tested twice a week.

4: How is the data maintained?

We’ve already addressed the issue of how important fresh data is. If the provider states that the data is fresh because it is regularly maintained, it is a good idea to ask how this is done. One of the best ways to check is to request the date stamp records for databases. Data collectors use date stamps to ensure all their records are within an acceptable window of freshness.

5: Has the data been screened against TPS?

TPS or Telephone Preference Service laws enable a person to opt-out of receiving marketing calls. Screening personal record databases is a legal requirement and state that all organisations do not make calls to numbers registered on the TPS unless they have your consent to do so. So make sure to ask the data provider if the data has been screened against TPS and if so, when was it screened and how often has it been screened?

6: Are there any clauses in the agreement you are making that you do not share information with a third party?

If you can’t see the ‘no sharing’ clause in the terms and conditions, it’s possible that the data you are buying has been shared illegally with third parties. As confidentiality is a key principle to GDPR compliance, it’s important to ensure that you buy data sets that comply with those laws.

 

Any reputable list broker should be able to answer every one of these questions. If the seller cannot provide any of the information above, it is highly recommended that you should avoid that supplier. It could leave you and your organisation liable. For more information about Insight Data, and how we handle information give us a call on 01934 808 293 or visit: https://www.insightdata.co.uk/