B2B businesses in Malaysia are increasingly relying on professional database providers to find new clients. A high-quality B2B database can be a valuable asset for any business. Accurate data enables marketers to conveniently reach out to potential leads who are the right fit for the products/services. It enables comprehensive segmentation of the target audience as per location, company size, turnover, decision-making authority, and more. Resultantly, customised outreach strategies for each market segment expedite lead generation, and tailored sales pitches boost conversions. However, it is important to remember that these advantages can be leveraged only if the database is accurate, updated, and of high quality.
Ensuring the Accuracy and Quality of B2B Database in Malaysia
- Before investing in a B2B database in Malaysia, businesses should carefully inspect it for human errors. Manual entry of prospect details can lead to inaccuracies. Too many of these errors lead to wasted time and resources. Sample checks, random checks, and free trials will enable businesses to assess thoroughly.
- An important question to ask database sellers is how regularly the databases are cleaned and updated. Contact information and firmographic details are highly subject to change. This is technically known as data decay and not updating regularly will lead to an outdated database.
- Always choose a B2B database provider with an impeccable reputation for providing high-quality data. Going through online reviews across multiple platforms, testimonials, and case studies can be helpful.
- Companies must enquire about the sources used by database agencies. The more varied and authentic the sources, the higher will be the data quality. Similarly, the data collection process and quality control guidelines should be reviewed in detail.
- Apart from spot checks and manual validation, businesses can also use AI-powered data validation tools. Running these over the database will display spelling errors, missing information, and inconsistent formatting.
Essential Factors for B2B Database Malaysia
Be it an SME database, a startup database, or a corporate database, the basic evaluation parameters are the same. As elaborated above, data accuracy and quality should be the topmost priorities of all businesses alike. Apart from these, the essential factors to choose the right B2B database include:-
- Data Coverage and Relevance– The relevance of an outsourced B2B database largely depends on whether it provides complete coverage of the target audience. From geographical and industrial coverage to company size, business verticals, and job titles, every parameter should correspond to the ICP. In addition to coverage, relevance is also an important factor to consider. The data fields should be in sync with the marketing requirements and sales objectives.
- Database Features and Customisation– One of the basic requirements is that marketers should be able to filter data as per their targeting requirements. A well-defined data structure with backup and recovery options is essential. API and integration capabilities are paramount so that important data points can be exchanged between different platforms. Analytics and reporting tools, scalability options, and customisable features should be assessed as per the business requirements.
- SME Database Price– The cost-effectiveness of a B2B database should be assessed vis-à-vis its maintenance costs and ROI. This is especially important for SMEs with limited marketing budgets. Studying the key deliverables and projected KPIs can help know if the investment is worthwhile.
- Compliance with Privacy and Security Regulations– The Personal Data Protection Act 2010 (PDPA) lists multiple areas of compliance for B2B database compilation and usage. From Consent and Purpose Limitations to Data Security, Transfer, and Rights of Individuals, the database should abide by the latest guidelines.
- Onboarding and Client Support Services– Be it addressing technical glitches or providing comprehensive assistance during onboarding, the client support team should be responsive and efficient. Besides enquiring about the support service of prospective database agencies, businesses should check out online reviews and ratings.
From mere contact lists, B2B databases in Malaysia have evolved as full-spectrum prospecting and sales enablement services. Hence, the best database agencies today don’t just sell B2B data but are proficient at managing and leveraging it. While scrutinising the essential database factors, businesses should evaluate the service provider’s compatibility with their sales and marketing SOPs. Data analysts need to closely work with the internal team to provide valuable insights and boost ROI. Lastly and most importantly, in-house database maintenance can be financially implausible for SMEs. Therefore, data updates, maintenance, cleaning, and compliance are best managed by a professional team.