• Diversification: How to Mitigate Risk and Cost When Building an Audience

    As companies invest heavily in the development of a smooth flowing, continuous sales pipeline, the need to find your audience and engage them with inviting content is critical. But alas, a new challenge has come to the front: who has the list of contacts you need and do they have the entire audience you need or just some? If they have some, how do you get just what you want and need? If you take just what you need are you going to pay a premium? Is this new premium cost going to make targeting your audience an expensive all in gamble that you’re willing to take?

    There is no single database that will provide you anywhere near full access to your target audience. According to a recent IDC CMO Advisory study, the most frequently used data vendors are Dun & Bradstreet, Hoovers and Jigsaw. If you have experience with these providers, you know each offer unique strengths and weaknesses. Even combining all three will, in most cases, reach only a portion of a target audience. It’s easy for these providers to position themselves as a complete solution, but you know it’s impossible. To make the analogy to the stock market, would you risk all your retirement assets to one stock? Does Enron or WorldCom sound familiar?

    Your list provider should never lock you into any one “guaranteed” data solution. Seek a provider that can provide you access to a diverse portfolio of list sources. Ask your provider who their competitors are. If they site competitive data providers, you might be limiting yourself because they will certainly not include their competitors within your list strategy. Make sure you have the flexibility to adjust to changes in the market. Lastly, ensure that your costs are controlled and your solution provider is focused on the performance metrics that are important to you.

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