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Customer Survey Proves B2B Data Quality Is Paramount

20110223 Sital Responsiva video

Responsiva’s regular customer satisfaction surveys consistently prove that b2b data quality is the paramount consideration. Whilst pricing is always key, minimising the number of mailing returns or dead phone numbers and ensuring the business data targets are exactly right for the client target market are of considerably higher importance.

This short video from Sital gives an overview of the statistics from Responsiva’s customer satisfaction surveys. Over the years these figures have altered very little, and even in times of recession the business data quality remains the highest priority.

More than 70% of Responsiva’s prospect data orders now come from repeat customers, who have previously experienced the exceptionally high attention to detail and data accuracy provided by us.

For more information contact Responsiva on 0800 118 5000 or email us at info@responsiva.biz

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Taxi Business Data Lists

Taxi companies will appear on most business data lists, yet they are probably the most unwanted of all industry classifications.

So why are they such an issue, and what can be done about it? There are four key reasons that taxi companies become an issue when specifying business data for marketing;

 

1. Vertical Market Selection: Transport Sector

Taxi companies sit within the Transport Sector. And although it would be normal to consider this sector to predominantly contain couriers, shipping and road haulage companies, taxis also reside in this sector. If considered carefully, to what other possible sector could they belong?

A similar example would be to select the “Education Sector”. Within this sector you would expect schools, colleges, universities, training companies and could even understand nurseries. But the industry classification which is perhaps the least expected is driving schools. There are many thousands of them, and they are not the kind of environment where you may wish to market books, pencils and other educational equipment.

 

2. Company Size Selection

Another typical business data brief would be to select all large companies (say, 50+ employees) within a given catchment area. And here is where the unwanted taxi firms pop up yet again. There may be just two or three people actually employed within the company, with each driver being self-employed or contracted. Either way., for the purpose of reflecting a company’s size, taxi firms will generally tot up the total number of people working for the company; and that includes all the drivers on the books. So it becomes commonplace that taxi operations are classified as having more than 50 employees from the perspective of the business data selection.

 

3. Office Premises

In marketing to office premises, businesses will usually have an office related product or service. Such as office cleaning, office equipment, stationery or even IT services. Each one of these services will usually target businesses by a minimum employee size (e.g. 10+) to ensure a reasonable sized sales opportunity. Cleaning an office with 10 staff will possibly mean 2 – 4 hours worth of cleaning per week. But a taxi firm is typically one person behind a desk, operating a phone and single p.c.. So the IT company would not be best chuffed with this opportunity either; 10+ employees in an office will typically mean there is a server linking all the p.c.s, where as a taxi operation is unlikely to have this. But how else could a taxi company be classified? They are not factories, medical centres or even retail outlets in the regular sense.

 

It becomes easy to appreciate why business data selections should apply a “special case scenario” to taxi firms; although some marketing campaigns would welcome them, in many cases they are a blatant and unwanted anomaly. And this is made worse by …

 

4. Population Count

There are some 17,000 taxi companies within the UK. Taking one postcode area as an example (Birmingham), a general business list selection from this region would include more than 300 taxi firms. That is a lot of unwanted data if these are not your target market. By contract, there are only circa 60 taxidermist companies UK-wide, so if these were unwanted (from a pool of over 3million records) then they would hardly dilute the power of your marketing initiative by including them. And that’s the point; there are so many taxi firms that their undesired inclusion would weaken any marketing database.

 

So What Can Be Done?

At Responsiva, one of the first questions you are asked is what product or service you supply. And the very reason for this question is so that consideration may be given to potentially undesirable industry classifications and other pitfalls. It is commonplace that a company would tell Responsiva that they have historically purchased a business list which includes them, ridiculing the b2b data supplier for not understanding their target market. It is true that business data suppliers sell on volume, so by including undesirable taxi firms within the marketing list usually means their sale value is higher. But it would be wrong to suggest any malpractice that they have attempted to pepper the file with useless prospects simply to up the sale value. It is far more probable that the client was serviced by an inexperienced account manager who simply didn’t understand the business universe well enough to know that taxi firms are one of the main anomalies when it comes to selecting business data.

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Marketing Data For A September Mailing

From past experience, the busiest two times for postal mailing activity are January and September. These months tie in nicely to reach the highest volume of recipients, with holiday absences being less prevalent. They are generally well aligned with marketing budgets; starting the year off with a flurry of activity. With a Summer sales review, marketing data campaigns are typically planned for September.

If the b2b mailing list has 4,000 records or more, there are significant cost savings to be made, both from a data list sourcing perspective and the postage. Mailsort discount applies from this volume, enjoying a massive discount on the regular cost of posting. With affiliations to mailing houses, Responsiva will refer you to a specialist in this area if desired.

The marketing data must be chosen to best fit your target audience. Working from what is probably the best single source business universe within the UK, Responsiva brokers data lists from a combined database of more than three million business records UK-wide. The prospect data can be selected by company size, geography, vertical market and premise type, in addition to the required contact fields such as senior decision makers and full company name and postal address.

The business universe receives updates on a monthly basis, ensuring that the data is as fresh as possible. Mailing gone-aways are usually in the region of 1%, and are guaranteed to be below 2%. This conforms with the marketing data industry standards and provides you with a high quality marketing file from which to deliver your sales message. Although Responsiva are not experts in marketing letter content writing, our recommendations are as follows;

  • Keep the message short; to a single side of paper if possible. Several pages of text will most likely be discarded by your prospect. Less is definitely more.
  • Do not send out expensive leaflets or brochures; these should be saved for the responders to your marketing letters. Indeed the letter should give mention that you will supply further literature if desired, and leave them with some questions so that they do respond.
  • Explain some (just a few) of the key benefits of working with your organisation.
  • Provide a very brief overview of your company’s experience in your field of expertise. This can be as short as “we have serviced more than 1,000 customers over the past 20 years“.
  • Offer something for free if you can. Ideally a sample of some kind. Let the prospect trial your service before they commit to anything longer term.
  • Ensure your letter has a call to action; what should your prospect do now?

The last point is key. It is all very well explaining the benefits of your company and how long you have been in business, but this is of limited value if you do not explain what you would like the prospect to do in response to your letter. The most simple of answers being that you would like them to call or email you to request further information, arrange an appointment or simply to take advantage of your free samples.

If you are considering a marketing campaign for September then now is the best time to contact Responsiva regarding the b2b mailing list you will needing for that campaign. After agreeing the specification with you, for your target market, Responsiva will supply you with some free samples. It is recommended that you use the remaining time in August to contact these samples (preferably by phone) to verify the marketing data quality and sense-check that they would be good prospects for you. And that being the case, hopefully you will come back by month end to source the full b2b mailing list for the September initiative.

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List Broker Customer Survey

New customers at Responsiva are invited to register their feedback on our list broker service, around two weeks from receipt of their prospect data list. This survey comprises five key questions and a free-text field for open comments. Approximately 200 customers have taken part.

The first three questions are ranked 1 to 5, with “1″ being excellent (or the most positive score) and “5″ being poor, or the most negative. For the purpose of the first three questions, Repsonsiva have allocated a percentage score as follows:

Score %
1 100%
2 75%
3 50%
4 25%
5 0%

 

 

 

Q1. Rank Responsiva’s speed of service.

Average score = 1.20. Percentage equivalent = 95%

Responsiva prides itself in offering an incredibly fast service. If we have some counts to run or a b2b data order to deliver then we strive to get the project delivered quickly. Usually (90% of the time) within 30 minutes, and at worst before 9am the following working day.

 

Q2. Rank the price you paid for the data.

Average score = 2.17. Percentage equivalent = 71%.

The price point is always a sensitive area. All companies want to make an honest profit, whilst being reasonable and fair with the price. Had this score been in excess of 75% then Responsiva’s data lists would probably be “too cheap”. And a score below 50% would suggest the price was too high. So we continue to monitor this percentage and strive to maintain it between 60% and 75%.

Some list brokers charge minimum order values of £250, whilst others are as high as £1,000. Responsiva comes in below these figures to ensure that companies looking for a small business list do not pay over the odds for it, priding ourselves as a fair-priced list broker.

 

Q3. Was the data accurately specified.

Average score = 1.48. Percentage equivalent = 88%.

Judging from the occasional comment, customers frequently confuse this question with the quality of data or even their results from a campaign. The question is more akin to the brief, rather than the data quality or campaign results. However, all points are pertinent. Where Responsiva have dropped points tends to be customers who experience unsatisfactory levels of new business appointments from their telemarketing. This is not a fair measurement of the prospect data, as other factors come into the equation. However, on the two occasions in the last three years where customers have expressed dissatisfaction with the data quality (usually a high volume of email bounces in excess of 5%) a refund has been given where appropriate.

 

Q4. Would you buy from Responsiva again?

  • Yes: 83.3%
  • Maybe: 15%
  • No: 1.7%

More than 98% of customers said they would or might buy b2b data from Responsiva again. This is the biggest indicator that our list broker service is fist class, backed up by the fact that the vast majority of orders come from repeat customers.

 

Q5. Would you like Responsiva to introduce a loyalty scheme?

  • Yes: 43%
  • Maybe: 42%
  • No: 15%

The interesting point about a loyalty scheme for business data services is that we have tried this before; in 2011. Customers received points for every prospect data record purchased, redeemable at year end. Only one customer actually went on to redeem those points, despite reminders.

The scheme itself required administration, and for that reason proved more time consuming than it was worth. In general it seems that most customers would simply prefer a great service, accurate data lists and a fair price.

 

Customer Feedback

At the end of the questionnaire, customers are invited to give free text comments about their experience with Responsiva’s data list broking service. The most recent ten comments are listed below, cut word for word;

  1. Thanks very much for all your help.
  2. Thanks!
  3. Great service, called up as we had tried lots of other providers and was helped straight away – really appreciated it. Thanks
  4. Data report not received from telemarketing agency as of todays date so unsure of accuracy of data.
  5. Toby is a great guy to work with. I’ve only worked with Responsiva once, so do not know what can be improved on, as I really enjoyed my experience with him.
  6. Overall the service was good along with good advice
  7. First time I’ve used them, so its too early to say, but overall i have had a good level of service.
  8. Service is attentive and responsive
  9. This was a new venture for me personally, I would get my client to deal direct with Responsiva next time.
  10. We have bought from a few companies and this is the best data we have had so far.

 

 

 

 

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Is telemarketing data still valid?

The four main paths for direct marketing use telemarketing data, postal mailing data or email and fax broadcasting data. And each initiative has a differing success rate and associated cost.

Perhaps the most misleading cost of all is the perception that once a database of email addresses has been purchased, all subsequent marketing to them is either free or comes with an exceptionally low rate for the email broadcasting. The true cost of email marketing is the data list purchase itself when compared to the exceptionally low response rate. This is not to say that all email marketing has a low response rate, but cold emails from your first contact with a business will inevitably be disappointingly low unless the offering is exceptionally compelling. Indeed response rates can be as low as one for every 10,000 emails.

Fax broadcasting received adverse publicity some years ago, after unscrupulous traders appreciated that most fax machines were attended by office admin staff and many broadcasts were along the lines of “what do you think of XYZ? Tick box A or B and fax back to us”. The small print stated that the fax back would cost (say) £5 and without giving this point much consideration, the otherwise bored admin staff did just that. So unless there is a specific reason why fax marketing would be the most suitable avenue for your business, it is not an initiative Responsiva will generally recommend.

The particular value of postal mailings is that they are the least intrusive of the four main channels. Companies with a possible interest may either respond, discard your letter or (as frequently occurs) keep the letter until the time is right for them to respond. And although the postage costs are high, these can be reduced considerably for larger volumes of 4,000 or more units. Typical response rates are in the region of 1% – 1.5%. So a postal mailing would probably best suit a company who’s client lifetime value exceeds £250.

The most ‘expensive’ of all initiatives is telemarketing. Adding the costs of the telemarketing data to the human resource element, the cost of a single dial can be as high as £2 – £2.50, so it is important to make sure that every call counts. The first stage is to ensure the targeting is ideal; market only to the businesses of the right size, geography and business types. But also the scripting must be well honed and the telemarketer must have the right enthusiasm and passion to make the calls. The campaign will not yield well if any of these three elements are lacking; the chain is only as strong as the weakest link.

The true value of telemarketing data is that this is the one initiative where questions can be asked and the database is updated. Questions such as;

  • Who do you currently buy from?
  • How much do you spend?
  • When do you spend it?
  • Who is the best person to speak with?
  • When should I call back?

Some of these questions do not have to be so brutally frank; asking how much a business spends on your products or services (i.e., with their current supplier) can sound harshly direct. So an alternative question can give a better flavour. If you supply training services, the question could be along the lines of asking how many employees are typically put through a training program each year. Or how many they would consider are in need of training. Or if your business services photocopiers and printers, simply asking how many photocopiers and printers the business has, and perhaps the makes and models to fine tune their prospective future needs. Often the best questions in this area are about the volume of goods/people the company has, so that you can ascertain their likely future spend within a reasonable banding.

Call-back dates are vital in telemarketing. If an opportunity for a sale or appointment is unavailable from the initial call, the database should always be updated with the best date and time to call back. More often than not a prospect will not be in a position to buy when you call, so maintaining that relationship and developing the prospect for the future is vital.

Telemarketing data from Responsiva is always screened against the Telephone Preference Service. This ensures your compliance with data protection legislation. Simply plucking company phone numbers from the internet or business directories is not the right thing to do. For starters it would probably breach their T’s & C’s, secondly it takes longer for a human resource to identify phone numbers (whilst being paid by you to do so) and thirdly most internet directories do not include contact names, company sizes or identify whether or not the phone number is TPS-registered.

 

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New Business Data Vertical Markets

Over recent months Responsiva have developed a new suite of business data groups, or vertical markets.

When seeking out a new prospect list, one of the most daunting tasks is sifting through the industry classifications to identify the good from the bad. With more than 2,000 classifications to choose from, this process can take several hours and requires the manual intervention to ensure accuracy. Responsiva has now amalgamated all of these classifications into a succinct list of 35 vertical markets. Just over two million of the b2b data records can be classified, with counts and percentages as follows;

Vertical   Market  Business Count % of Universe
Business   consultants & Training                      73,134 3.6%
Catering                        7,527 0.4%
Cleaning   Services                      26,454 1.3%
Computers,   Software & Hardware Consultancy                      70,483 3.5%
Construction   & Demolition                    182,503 9.0%
Education   Sector                      68,839 3.4%
Farming &   Agriculture                      60,356 3.0%
Finance &   Accounting                      58,958 2.9%
Food   Production                      12,309 0.6%
Hotels, Bars   & Restaurants                    173,701 8.6%
Insurance                        8,435 0.4%
Legal Services                      15,470 0.8%
Manufacturing   & Engineering                    141,888 7.0%
Marketing, PR   & Advertising                      12,468 0.6%
Medical Sector                      85,028 4.2%
Membership   organisations & political parties                      47,113 2.3%
Mining &   Raw Materials                        2,763 0.1%
Motor, Repairs   & Fuel                      83,222 4.1%
Personal   Services                      92,742 4.6%
Photography   & Media                      21,737 1.1%
Printing &   Publishing                      21,990 1.1%
Property                      83,295 4.1%
Public Sector                      10,488 0.5%
Recruitment                      16,529 0.8%
Recycling   & Waste Management                        8,244 0.4%
Rental Sector                      19,827 1.0%
Retail                    263,610 13.1%
Security   Services                        7,013 0.3%
Social &   Charity                      55,378 2.7%
Sports,   Leisure & Recreation                      76,868 3.8%
Surveyors,   Architects & Testing                      55,465 2.7%
Telecoms                        9,295 0.5%
Transport   & Storage                      78,586 3.9%
Utilities   (Gas, Water & Electricity)                        3,091 0.2%
Wholesale                      64,529 3.2%
Totals:                2,019,338 100%

 

Within each of these business data vertical markets resides every possible business classification. For example, within the group “Hotels, Bars & Restaurants” there is every business classification listing from pubs, wine bars, guest houses, hotels, all forms of restaurant (Indian, Chinese, Italian etc), take-aways, internet cafes, tea rooms to any other establishment you would associate with either overnight paid accommodation or having a meal or drink.

In applying these business groups to any data selection, the buyer is able to quickly identify the particular areas of interest or exclusion. Furthermore, if any further explanation is required of a particular group then this is easily expanded to illustrate the full listing of sectors therein.

To demonstrate the value of this new business grouping tool, for July 2013 only Responsiva are offering to apply it free of charge to your business database. Provided your database already includes industry classification or SIC codes (as all good business databases do) we will apply our new business grouping model to your file without charge.

 

What is the Value of this Tool?

Responsiva would normally charge £200 + vat to apply this business group model, so already there is a cost-saving by receiving this free information. But its true value and purpose is during the measurement of your campaign success. i.e., where are your positive results coming from? These business groups enable you to swiftly analyse your campaigns (or Responsiva will offer to do this for you) and enable you to identify future prospect data from within those high performing sectors.

If you have any questions regarding this new field, please give Responsiva a call on 0800 118 5000.

 

 

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The Cobbler’s Shoes And b2b data

You may have heard the story of the cobbler, whose kids were clothed in worn-out shoes? The point being to ask whether you would buy shoes from such a trader? Or would you go to the dentist who has manky teeth? I am often approached by mailing houses, offering to print, pack & post Responsiva’s monthly postal mailings; but when I ask them what mailing activity they run they explain that all their new business comes from word of mouth. Or the business coach who offers to help me make my business run without me, whose own business couldn’t run without them. Or even from telemarketing companies who generate new business from networking events or email marketing, rather than by picking up the phone.

No matter what your line of work, if you offer a product or service then you are best placed to take the benefit from it; you can ensure you receive the best possible service, and at cost price too. So with all these benefits, if you cannot sell your service to yourself then ask yourself what kind of service it is you are offering?

As an experienced b2b data list broker, Responsiva supplies business lists for postal mailings and telephone marketing. And with that we send out a postal mailing to new prospects most months. And not just because of any support in our own service, but more importantly because it yields a healthy return on investment. Response rates are typically around 1% – 1.5%, and up to one quarter of those responders ultimately convert to becoming a new customer. The ratios (measured over four years) have proven that for every £1 spent on postal mailings have delivered approximately £2.50 in profit from new business sales. That’s not revenue; for this the ratio is obviously higher. This is quite simply a straightforward 5:2 return on investment ratio from sending out a regular business mailing to new prospects most months. Although Responsiva obviously sources the b2b data list at cost price, the truth is that the mailing list is supplied for multiple usage. So many of the business prospects are re-mailed a few times, making the cost of the data list considerably more efficient. But this does raise the question as to whether a re-mailed business is more or less likely to respond? Responsiva’s statistics on this subject go back more than ten years, and is an area of both interest and focus. If you mailed 1,000 prospects for he first time, are they more or less likely to respond than if you had already mailed them one or two months ago? And are these any more or less responsive than business prospects you had mailed six times over the last one or two years?

The reality is quite straightforward and well worth remembering. The results are the same; a prospect is just as likely to respond if you have mailed them previously (though our measurements only go up to six times) than if you are touching them for the first time. That said, you must remove all mailing returns and responders from any future mailings, which will typically comprise around 3% of the mailing list.

All companies should have around ten channels to deliver new business enquiries, and postal mailings have proven to be a consistent route to market. And the postage is not so expensive when running campaigns of 4,000 units or more, due to the Mailsort discounts which are applied. And if you are thinking “but we could never run 4,000 postal letters every month; we are just a really small business. We couldn’t afford it and couldn’t cope with the volume of responses” then consider this fact: Responsiva is operated by just one person. You can never have too many new business enquiries; it is just a case of how you manage them.

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Are Marketing Lists Stronger In The Summer?

I have often considered marketing as a combination of;

  • What you say
  • Who you say it to
  • When you say it

The “what you say” element is quite literally the telemarketing script or postal mailing /email broadcast text content. And the “who you say it to” is a direct link to the b2b data file you source from a list broker. It is essential to get both elements right when initiating a marketing campaign.

But how important is the “when you say it” element, which relates to timing? And what effect does the campaign timing have on results?

It is impossible to determine the ever changing moods of prospects, and whether or not they will receive your marketing piece more warmly one day in comparison to the next. But there are some elements to business which genuinely are seasonal.

Imagine commercial contract solicitors, or even insolvency practitioners. Most businesses only want their services when they have a contractual litigation issue or (for the latter) their company is in severe financial difficulty. It isn’t practical to market your services to companies asking “do you have a problem we can help with?” because so many prospects would be immediately disqualified from having any need or desire of these services. Quite possibly they never will have a need too, but if ever they did it would be very much a question of timing.

Airt conditioning consultants work all year round; servicing maintenance contracts on a regular basis throughout the year. They don’t only want commercial customers when it’s hot, and offices are in need of an air conditioning fix. However, it is during the heat-wave times that the employees are at their most uncomfortable, stuck in a hot office environment. Here is where telemarketing can be particularly potent, as opposed to direct mail. The telemarketing list can be segmented by region and allocated the day’s weather forecast first thing in the morning. The regions expecting a swelteringly hot day can be targeted by phone; would your office benefit from a free review of its air conditioning systems? With the calls made during the hottest times of the day (say 11am to 3pm) they have the strongest possible chance of hitting at the right time. The beauty of telemarketing companies is that they are able to switch between client campaigns to suit the best timing of the calls.

Meanwhile, a telemarketing campaign to public houses, restaurants and hotels is probably best avoiding precisely these times of day (11am – 3pm) because they are traditionally busy times, during the lunch period. So a call during these hours is more likely to go unanswered or be met with an abrupt response.

Another particularly potent campaign for the summer months are the suppliers of water coolers and other office refreshment service companies. Again, the hotter the day the greater the probability that any prospect with a potential need will have a stronger desire to meet with the supplier of these services.

Neither of these approaches could be considered preying on the vulnerable, as it cannot be known from the telemarketing data which companies are in need of these services before the calls are made. As a telemarketing service provider you would simply be maximising your opportunity around the time of year, and hopefully generating your client a higher volume of quality appointments.

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Has your Business Reached Market Saturation?

The best place to start is to understand what market saturation means. It is effectively when the market for your product or service already owns (or has been introduced to) this product or service. And so possible future sales would only be generated from obsolescence, replacement or population growth.

Some examples; household white goods, tv’s and other modern conveniences. Almost everyone (with space & fixtures) has a washing machine, so future sales will come from replacement of old models and a growth in population, such as first time property buyers. The same could be said for cars; replacement of old vehicles, and individuals having recently passed their test being regarded as the population growth element.

One well-known example from modern times is mobile phones. In 1990 almost nobody had a mobile phone. But during the early 1990’s they became affordable to most consumers. So from 1990 to 1999 the Western World’s population grew from less than 5% ownership to more than 90%. But before the new Millennium had been reached, as almost everyone had a mobile phone, the market had become saturated. In economic terms, the Nineties were the golden age for mobile phones; the sales growth was astronomical. Whereas today most sales are made from upgrading old mobile phones, replacing lost, stolen and damaged phones, as well as the population growth element. i.e., kids getting their first phone.

From a business perspective, the level of sales your company will make relies to some degree on the level of market saturation of your product or service. In essence, supply and demand. New products and services to the market will have a low saturation level.

A good recent example of market saturation is business coaching. Although business coaches have been around for many years, there was surge in the UK marketplace from 2003. As a relatively new concept to the small business owner, their offering focuses on three main objectives; to coach the business owner on their team development, spend less time in the business (and more time working on the business from a strategic capacity) and to grow company profit. The market saturation levels can be well documented by the success rate of the telemarketing services in support of business coaches. From 2003 – 2008 Responsiva supplied nearly one million appointment-setting telephone marketing calls for business coaches across the UK. Working to similar scripts and prospect data lists throughout, the results changed over this five year period. The average number of appointments generated per day between 2003 and 2005 was three to four. Of course there were some variances between the talents of the telemarketers, but three or four appointments was a typical day’s work from an experienced operator. On a good day it could be as high as ten, and some days it could be zero; telephone marketing can go this way. Between 2006 and 2007 these averages dipped to about two per day, and by 2008 it had dropped to one. Could it be the telemarketers just not performing? Or the b2b data list they were calling from? Or even the script itself? Not really; all these elements had a reasonable level of consistency about them throughout the five year period.

What had changed over this five year period was the marketplace itself. By 2008 there were many hundreds of business coaches, so the supply had increased massively. Furthermore, if Responsiva had made one million calls, what about all the other telemarketing activity being made across the UK? If those one million calls represented as much as ten per cent of the calls being made then ten million calls would be a reasonable estimate to the UK market over that time period.

The next thing to consider is what the market truly is; how many viable businesses are out there? From the three million or so business entities out there, an estimated 500,000 are viable targets. So ten million telemarketing calls to 500,000 prospects gives a typical ratio of twenty calls per business. And that was by 2008. So it follows that by 2008 most viable prospects would have heard of business coaching. Many took advantage of the appointment with a local business coach, and some went on to employ one. Without doubt this is a good example of market saturation, which ultimately yields a lower return on investment, because the success of the telemarketing calls dropped. No matter how good the prospect data list, and no matter how talented the telemarketer, if you phone a business who has already been called twenty times (offering an appointment with their local business coach) then the simple fact is that the chances of the call being a successful one is quite low. And over the course of a week’s calling (say 600 dials) that telemarketer will generate less appointments than they would if they were calling into virgin territory; i.e., a region which has never previously been serviced by a business coach..

Today’s market for business coaching is still buoyant of course. Business owners still need (and many still desire) coaching. But few have to wait long before they are approached by one, and often they are approached by several in the same week.

As per the start of this article, new customers will generally be found from obsolescence, replacement or population growth. i.e., they wish to change coaches (so find a new one) or the new businesses (and their business owners) which come into the market. And there will still be a few out there who, after perhaps several months or years of consideration, now feel they are in a position where a business coach would be right for them.

Responsiva has supplied marketing data for business coaches for more than ten years, and during this time has developed a unique set of screening filters. This ensures that the business coach is targeting the right kind of business owner based on their tailored service. So if you are a business coach looking to increase your market share within your catchment area then please speak with us to ensure you are working with well-targeted marketing data for your telemarketing or direct mail initiatives.

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Business Data Quality

One of the most frequently asked questions at Responsiva is how recently our data has been updated. As a data list broker, strictly speaking it isn’t “our” data; Responsiva supplies prospect data from a business data universe which has been amalgamated from numerous well-respected b2b data sources. A list of these data sources can be found on the Responsiva home page.

Because the full b2b data universe comprises more than three million trading entities across the UK, it isn’t feasible to identify and report on precisely which records were last updated on which specific dates. However, all of the feeds into this business database have their own update process. The business data industry standard is to ensure that all companies are telephoned at least once per year for a verification and update. Any b2b data source which doesn’t operate in this manner would not be included within Responsiva’s preferred choice of data list sources. Or (as with Companies House data) used solely to gap-fill fields such as company turnover.

Responsiva conducted a customer survey throughout 2010, which resulted in 92% of business data buyers stating that data quality was more important to them than price, speed of service or any other aspect. A short video of these statistics is available here : http://www.youtube.com/watch?v=frZFhqZwJ7I

It is a particularly interesting statistic, because in reality most buyers are more keep on price when it comes down to the final decision. This is most likely because there is no other information to go on at the front end; all data list brokers will say their data is of top notch quality, so what else can the buyer do? That’s why Responsiva provide free data samples with every quote, and an earlier blog covers what you should do with these samples to test their quality. See here for more information: http://www.responsiva.biz/blog/2013/06/17/business-data-samples/

By testing the quality of the sample data list, a buyer can be sure to make their decision on the one true element that matters to them. i.e., quality. Responsiva’s data is guaranteed in quality. At least 98% of the postal addresses and phone numbers will be accurate. Usually this is around 99%. And although there has yet to be a claim against this guarantee, it is something that we stand by and will credit (or refund) any excess.

Email addresses are a different matter, as they decay faster. So there is a guarantee of no more than 5% in hard bounces. Soft bounces will typically generate an additional 5%. But Responsiva are always happy to negotiate additional email addresses into the proposal to cater for this and ensure a satisfactory deliverability of your email list broadcast.

So when you are next looking for quotes (and haven’t made any firm decision on your preferred list broker) be sure to ask for samples and then test those samples. Price really shouldn’t come into the equation; it’s all about the business data quality. And only then should price and service be included as a secondary consideration. It only takes an hour to call 20 samples and sense-check their accuracy, and this will be one of the best investments of time you can spend before choosing your preferred supplier.

 

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