Here are four examples of situations where the decision must be made about rental or license, consider these hypothetical scenarios suggested by David Gaudreau of Infogroup.
1. A controlled-circulation trade magazine serving the business insurance industry is seeking new subscribers.
They are not looking for buying behavior, or evidence of past purchase.
They simply want every possible middle manager in the business insurance world, and they want to penetrate the audience as deeply as possible, with multiple touches. So they cut a deal for a multi-usage license with owners of lists based on firmographic data, pulling all the names at particular companies with particular titles.
2. A seminar promoter wants to find new attendees, and the best way to identify prospects from a large database of business people is via modeling.
So they import a large number of names under license, building predictive models, and then mail the most promising prospects.
3. An office products company knows that response lists are most productive, but needs to augment the available universe of names to optimize its catalog production volume.
So they take compiled names on a rental basis to round out the mail quantity.
4. A marketer targeting the machine tools industry wants to be sure it has every possible target site and all possible contacts at each site on its database for ongoing marketing purposes.
So it brings in compiled data, matched first at the site level and then at the contact level, experiencing a 65-70% match rate against its house file, and populates the database on a three-year licensing basis, paying per element matched.
Each of these methods gives you additional insight into both your customers and those who you might want to be customers. Enriching your current data sources is a great way to better understand exactly who your best customer really is.
About the author
Theresa Kushner is a journalist-turned-marketer and currently Executive Vice President at Dell leading their state of the art nalytics initiative. Formerly she was Vice President of Enterprise Information Management at VMware responsible for master data management, business intelligence and advanced analytics. She and Maria Villar co-write a column for LatinBusinessToday.com. They are co-authors of Managing Your Business Data: From Chaos to Confidence, published by Racom Books in 2008.Website