The most common conclusion after running a data analysis is simple: your company is missing the critical information required to drive business objectives. Now where do you go to find the information that your organization needs?
There’s no single data source that has the ability to fulfill all of your company’s requirements. Most third party data providers have between 25-200 attributes on people and/or companies, making them powerful solutions when used in conjunction with other providers. RingLead has analyzed hundreds of data catalogs across every vertical, and identified over 3,000 unique person and company attributes, ultimately making it easier for you to find the providers that offer the broadest scope of information that your business needs.
In most cases, we find that companies have a need to acquire data from 4-9 sources. The main reasons for requiring multiple sources are:
- Compliance (GDPR, CCPA, HIPAA, etc.)
- Geographic coverage
- Industry specialties
- Attribute coverage
- Volume of contacts and companies
Here’s a quick visual of the different niches various vendors cover (not all inclusive):
Now that you know what you’re looking for, it’s time to shop for the right vendor(s). The DataExchange is your hub for transparent, flexible data buying that fits your unique business needs. Easily navigate vendors based on specific regions, industries, and fields, all while benefiting from crowdsourced reviews, trials, and side-by-side comparisons. With thousands of personal and business attributes across hundreds of data providers, The DataExchange is the most comprehensive data catalog on the web.
Because of The DataExchange, finding the right vendors isn’t all that hard. However, understanding what to purchase from each vendor can be incredibly difficult. Just like with any sale, the rep on the other line is trying to sell you everything that they can. But with data, you don’t always have to buy the entire platform from the vendors you’re working with.
If you’re working with four or more data providers and connecting their technologies independently, you’ll be forced to:
- Integrate and maintain multiple software platforms with your systems individually
- Orchestrate the timing of web service calls to individual data sources, delaying lead distribution
- Deal with normalizing multiple data structures
- Create multiple custom objects in your CRM
- Struggle with making requests for certain data providers to append specific fields in a hierarchical order
RingLead has a team of subject matter experts that have spent thousands of hours analyzing and evaluating data catalogs, software, and APIs, and can help you create an RFP. These professionals are completely agnostic and will only recommend the best possible providers for your scenario.
The RingLead team will help you:
- Discover your most critical fields (and wish list fields!)
- Determine fill rates on your critical fields
- Identify the best vendors based for your needs and evaluate match rates
- Make recommendations on what SKUs to purchase
- Build custom vendor recipes all the way down to field level vendor hierarchies
After working with the RingLead team and procuring your best of breed data sources, it’s important to utilize an enrichment orchestration platform to connect, transport, and automate 3rd party data in your downstream systems. With a simple UI, and community-driven data quality templates, RingLead’s platform allows you to fuel continuous data quality across your business by configuring batch and real-time enrichment in your sales, marketing, and data operations workflows. If you already have the best vendors for your business lined up, sign up for a free trial of RingLead Enrich today and we’ll show you how it all works. To get started on finding the right data vendors for your, we’ll help you create your RFP.
About the Author: John Kosturos is Chief Revenue Officer at RingLead where he serves as the resident expert on contact data quality and data enrichment. He has helped thousands of customers and partners solve their dirty data issues with custom solutions tailored to their exact business needs. John is an expert inside both Salesforce and marketing automation data.