Business Data Jargon Buster: Part One

Online business to Business data, it is a tricky language full of baffling acronyms and colloquialisms. For the uninitiated, data purchasing can go horribly wrong, with the end result being a failed campaign in addition to wasted marketing budget. A bit like ending up with the sheep testicle stew rather than delicious rack of lamb for your holidays… grim.

As part of my mission to cut through the cr*p and tell it how it is I have put together a list of blogs to help you understand the whys and wherefores of data. Think of it as your business data pocket translation guide.

Mr Ravinder Kumar Rishi holds 0 appointments at 0 active companies, has resigned from 6 companies and held 1 appointments at 1 dissolved companies. RAVINDER is not registered as holding any current appointments.

The combined cash at bank value for all businesses where RAVINDER holds a current appointment equals £0, a combined total current assets value of £0 with a total current liabilities of £0 and a total current net worth of £0. Roles associated with Mr Ravinder Kumar Rishi within the recorded businesses include: Director, Company Secretary

Here is the beginners secrets Business Data jargon; Part One.

DMA: Direct Internet marketing Association

This is the governing body for direct marketing, some people ensure all members comply to best practice guidelines and then the rules and regulations of gathering, storing and selling data. You might want to only ever purchase from data companies who are registered DMA members. Offers that are too good to be true tend to be just that. A million records for £50 on eBay would be the data equivalent of “a bloke down the pub” and could end up costing you a hundred times that in ténue for data misuse – leave well alone plus stick on the straight and narrow with the DMA.

TPS/CTPS/MPS

Whilst we are on the subject of rules we should cover off the Suppression services;

  • TPS – Telephone Preference Service
  • MPS instant Mailing Preference Service
  • CTPS – Corporate Preference Company

Anyone who has registered with any of the above suppression services is certainly off-limits where dm is concerned. Aside from the fact it is , the burkha and will cost you thousands in fines (TPS), why fuss wasting time and money trying to hook up with someone who is just not interested? It happens to be damaging to your brand and your budget. Keep your self-respect, money in your pocket and make sure all data you buy is analyzed against the relevant suppression files. This is standard for DMA members, so you shouldn’t need to worry – unless you speak to the fact that bloke in the pub of course…

Data Licence

Data is typically sold on a lease. This means that the data owner leases you the data rather than sells you the data outright. Outright expenses are usually very expensive as data owners, understandably, want to take care of the investment they have put into gathering, storing and protecting the data. If they lease you the data then they retain usage and you have to comply with the rules of the lease. There are two styles of data licence; single-use and multiple-use for 12 months. These include fairly explanatory, single-use you can only communicate with that online business or record, once. Multi-use, you can communicate with them as many times as you want within the 12-month period depending on the license.

Records Seed

“How will anyone know I am using data after shouldn’t be? ” The answer is data seeds. Every data submit purchased has between 1 and 3 dummy files. These dummy records are called data seeds and they are certainly, there to monitor activity to that record. If you send an email, it’s actual recorded. If you send 20 emails, they are also recorded. Begin using the data out of licence the seed reports will show the mis-use you will be charged, but if you comply with the rules you will be high-quality.

SIC Codes

Now we are getting to the nitty-gritty of actually selecting your data. SIC Codes are Standard Industry Language. Every business is given a SIC code according to what they do. You want to sell knives? Then SIC for butchers is an efficient place to start. A good data salesperson should also advise you on several other industries you could target that you might not have considered. For example; places to eat, catering colleges, specialist kitchenware shops and department stores.

Facts Count

This one is easy, once you have decided on what industries and also SIC codes to target and applied any other criteria which include business size or location; your contact will go at bay and get a data count for you. This is the total number of reports which match your criteria, your “data pot” as it were. From this pot you can decide on how many records you need in your campaign. In some cases the number of records will be less than you required, in which case you can expand your criteria such as target even more industries or extend the geographical boundaries. Again, the best list broker will be able to advise on the best way to increase the actual pot numbers yet maintain the campaign focus.