Online SOurceS Of B-tO-B Data: a cOmparative analySiS€¦ · OnlinE sOurcEs Of B-tO-B Data: a...

Online SOurceS Of B-tO-B Data:

a cOmparative analySiS

By ruth p. StevenS & Bernice GrOSSman January 2009

BuSineSS-tO-BuSineSS DataBaSe market inG

E x Ecuti v E summ a ry

As the Internet has created new ways for B-to-B marketers to compile and access prospect data,

marketers continue to be concerned about the quality and breadth of the data that is available. This

white paper evaluates the volume and accuracy of data provided by ten participating suppliers of

marketing information with online access. In general, the data coverage varied widely among vendors.

Based on these results, we urge marketers who order compiled data to ask very carefully about the

prospective vendor’s compilation practices and policies. We also strongly recommend that marketers

conduct a pre-test of the data to assess its applicability to their particular situation.

OnlinE sOurcE s Of B-tO-B Data: a cOmpar ativE analysis

1

ompiled data is critically important to B-to-B marketers for two reasons:

1. Business marketers tend to target relatively narrow audiences. Compiled data, built from such sources as government records, telephone listings and credit data, generally provides better breadth of coverage, compared to response files. For example, not all machine tool manufacturers will appear on the subscriber files of, say, American Machinist magazine.

2. Each account has a high revenue opportunity, so it’s important to gain access to every potential prospect.

Thanks to the Internet, two important develop-ments have revolutionized B-to-B compiled data. First, entirely new data sources have emerged based on information gathered using the Internet itself. Jigsaw, for example, provides an online marketplace where sales people can swap contacts. ZoomInfo scrapes information about business people from Internet pages like corporate sites and online press releases.

The second development is easy online ordering, now offered by data compilers of all stripes. Marketers can search fields, generate counts, and place orders via browser-based interfaces, and download the data instantly.

In light of these changes, we decided to research the online sources of B-to-B data, to assess their accuracy and completeness. In the later part of 2008, we invited fifteen vendors to answer a series of questions about their data and their business practices.

Ten vendors agreed to participate:

• Demandbase • OneSource

• idExec • SalesGenie

• Jigsaw • Selectory

• Lead411 • Zapdata

• NetProspex • ZoomInfo

We express our deep appreciation to them.

Invited vendors who chose not to participate were:

• Acculeads • Hoovers

• Experianb2b.com • Spoke

• GoLeads

C

thE scOpE anD intEnt Of thE stuDy

Business marketers are interested in volume (how many good contacts can I retrieve from this system?), completeness (can I get every field I want?), and accuracy (is the contact information correct?).

Gettingcountsisafairlystraightforwardprocess.For this study, we identified ten industries com-monly of interest to business marketers, and asked the vendors to tell us how many companies they hadineachoftheten,asindicatedbySIC.

Then, we selected a well-known firm in each of the ten industries, and asked the vendors to tell us how many contacts they had within those firms. We also asked whether they code firms with NAICS.Finally,weaskedthemtoreportthenumber of complete contacts, “complete” meaning

that the record included the full name, address, title, phone, fax and email.

Counts are one thing, but to assess data accuracy is not so easy. The problem is that the vendor’s record needs to be compared to some standard of correctness, which means we need to know the “truth” about the contacts that reside on the vendor’s database.

To solve this problem, we persuaded ten business people in a variety of industries and in various job categories to agree to serve as guinea pigs, by providing us with their accurate current contact information, and allowing us to publish their records as reported by the participating vendors. We’d like to express our gratitude to these intrepid individuals for their generous support of this study.

Onl ine SOurceS Of B-tO-B Data: a cOmpar at ive analyS iS

2

inDi v iDua l c Ontac t s in thE s tuDy

Industry

Technology

IT consulting

DataCommunications

Accounting

Opticalcomponents

Highereducation

Publishing

Healthcare

Legalservices

Manufacturing

Name

Theresa Kushner

PhyllisR.Kramer

SeanClemmons

Marcia El-Baz

Carmen J. Conicelli, Jr.

Jim Carey

MichaelS.Hyatt

BrianA.Nester

John E. Tobin, Jr.

JamesH.Schattinger

Company

CiscoSystems

USTglobal

PiraeusData,LLC

Lutz&CarrCPA’sLLP

EdmundOptics,Inc.

NorthwesternUniversityMedillSchool

ThomasNelson

LehighValleyHospitalandHealthNetwork

NewHampshireLegalAssistance

PioneerManufacturingCompany

Title

Director,CustomerIntelligence

SeniorDirector,GlobalRelationshipManagement

VicePresidentofConsulting

Partner

ChiefFinancialOfficer

Adjunct professor

PresidentandChiefExecutiveOfficer

SeniorVicePresident,PhysicianHospitalNetworkDevelopment

ExecutiveDirector

President


3

thE pOsitiOning statEmEnts

Hereishowthevendorsdescribedthemselvesinresponsetothefollowingquestion: Provide a statement of no more than 150 words that describes your online B-to-B data product/service, including how you are positioned, meaning your competitive differentiation. In short, this question is, “Who are you, and how are you different?”

Participating vendor

Demandbase

idEXEC

Jigsaw Lead411

NetProspx

Demandbaseprovidesnewcustomeracquisitionsolutionsforsalesandmarketingprofessionals that help companies identify, reach, and convert new business. With Demandbase,customersareabletoshortensalescycles,andincreaserevenues. idEXEC is an online global database of executives at select public, private, non-profit, and government organizations. idEXEC actively tracks and continuously updates 2 million executive decision-makers at 900,000 organizations in 172 countries. Typically, the idEXEC database includes all public companies, all corporate headquarters along with their subsidiaries and branches, private companies with over 75 employees or 30 million in annual revenue, and will concentrate on the following industries: professional services, insurance, financial, andtelecom.Recordsareupdatedcontinuouslywithchangespostedimmediatelyonline every day. The idEXEC product is a complete web-based solution that allows you to search and immediately view and download your most important prospects, whetherit’sonesinglerecordorhundredsofthousands.Nospecialsoftwareisrequired – only a standard internet browser. Jigsaw is a user-generated B2B database built and maintained by its 700,000 B2B community members (marketers, sales, recruiters, analysts, business owners). The database has grown to almost 11 million contacts, 2 million companies, 6 million locations, and is updated in real time, very similar to Wikipedia.

The result is a highly differentiated database:

1) The most accurate in the industry – 2X more than traditional data compilers/crawlers, over 1.5 million hygiene actions monthly. 2) The most complete database in the industry. 100% email, phone, address, title 3) The most Contacts up and down the org chart

Jigsaw is a data ownership model. All other providers rent for one-time use, or they license annually. With Jigsaw, the client owns the data. Jigsaw’s membership currentlygrowsat1,400membersperday,thedatabasegrowsatover40,000contactsperday.70,000SMBclientsand22%oftheF1000arenowJigsawclients. We are different in 2 ways. 1. We use crawling technology and low cost inter- national research teams to provide verified data at a cost level as low as 25% of what other data providers spend. This gives us the ability to charge 25% less. 2. We provide news alerts that let our customers know when companies are growing because they are more likely to purchases products/services during these times. NetProspex,isaBoston-basedsalescontacttradingsystemthatusesthepowerofthe internet to let sales and marketing executives buy or trade business contacts. All user-contributed contacts are validated before being published. With 3 million up-to-date,accuratecontacts,NetProspexprovidesinformationondifficult-to-finddecisionmakersacrossNorthAmerica.

We also asked two qualitative questions, one inviting the vendors to explain their competitive positioning in the marketplace, and the other asking about their terms of sale.


4

OneSource

SalesGenie

Selectory

Zapdata

ZoomInfo

OneSource®, a recognized leader in global business information services, delivers unparalleled company, executive and industry intelligence that make business professionals more effective and productive in completing their critical dailytasks.OneSourcecombinesandorganizescontentfromover2500 information sources supplied by 50 content providers creating an unequalled information resource. This includes public and private company profiles, executives, corporate families, industries, financials, news, analyst reports, and trade and businesspressarticles.OneSourcelinksallofitsinformationonover17millioncompaniesand21millionexecutivesworldwide.OneSourceisavailableviaperson-alized web-based subscriptions to the Business Browser service providing a compre-hensive view of a company’s business, history, competition, industry, strengths and weaknesses, among others. All of the information can be searched by multiple criteria and one can chose from a library or build customized research documents. An alerts feature allows company tracking as well as news and selected topics. Since1972,infoUSAhascompiledandmaintaineditssignaturedatabaseof 13.7millionUSbusinessesand1.4millionCanadianbusinesses.Asbusinessescontinually emerge, change, and dissolve, our database keeps the information up-to-date and as accurate as possible. The database is compiled in two phases. First,infoUSAcompiles4,000+telephonedirectoriesandover350newbusinesssourcessuchasSecretariesofState,countycourthousesandpublicrecordnotices.Throughthesesourcesandadditionalprocessing,infoUSAwillgatherandverifybase-level information such as company name, telephone, address, and industry. Second,infoUSAcallseachbusinessannuallytoverifytheinformationwehave andtoobtainadditionalinformation.infoUSAdataiscreatedtoprimarilypowerresearch and marketing endeavors; the database is not a derivative of another productorapplication.Asaresult,thecoverageoftheinfoUSAdatabaseisintendedto represent all active business sites. Selectory® helps sales and marketing professionals find new customers and grow their sales by building targeted lists, profiling existing customers and running directmarketingcampaignsfromtheirdesktop.Selectoryoffersitsusersunlimitedsearching, viewing and printing of detailed, location-specific company and contact information.Selectoryprovidesaccessto23millionbusinesses—15millionintheU.S.andCanada,and8millionothersworldwide.Selectoryallowsyouto:Buildtargetedlistsusingupto40searchcriteria—DownloadinformationforcampaignsorforimportingintoCRMapplications—Noneedtodealwithalistbroker—buildalistinminutes—Pinpointthebestopportunitiesinyourtargetmarket—Lookupcompanyandcontactdetailsbeforemakingthecall—Addtagsornotes,and keep all your sales data in a single place. Zapdatagivesyouaccessto15millionUScompaniessothatyoucancreatealistofprospect and license the list online with a credit card. Zapdata includes advanced features such as suppression of previous lists, preview and analysis of your prospect list. ZoomInfoisabusinessinformationservicewithprofilesonover45millionpeopleand5millioncompanies.BecauseZoomInfocrawlstheWeb24-hours-a-day,365-days-a-year, we’re able to deliver customers the freshest business information available. While other sales and marketing tools only scratch the surface by delivering high-level overviews of companies and their senior management teams, ZoomInfo digs deep into organizations to give you insight into the typically hard-to-uncover decision makers at companies of all sizes, from the Fortune 1000 toSMBs.AndnotonlydoesZoomInfoputyouintouchwiththerightperson, it also gives you in-depth insight into the person’s career history, education and affiliations, and into the company, to quickly build rapport.


5

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Stat

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yes

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ce

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Mac

hine

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xcep

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al

48Communications

Doyoucodefirms

withNAICS?

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ount

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the

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2) to

tal c

ount

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ll fir

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oom

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oom

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, but

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ons

**Fo

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irm

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Herearethecountsforcontactsateachoftenwell-knowncompanies,inresponsetothequestion,

Prov

ide

the

tota

l num

ber

of c

onta

cts y

ou h

ave

at e

ach

firm

, U.S

. onl

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head

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and

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and

base

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457

1,16

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2,488

23,5

96

1,524

1,81

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6,96

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7,426

713

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d 41

1

13

9 11

1 2 11

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389

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248 0

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163

176

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s G

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853

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mic

als

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rs

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and

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ster

HospitalCorporation

of A

mer

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OhioState

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rsity

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roso

ft

Level3


6


7

Herearethefiguresoncompletecountsforeachindustry,inresponsetothequestion,

The

num

ber

of “

com

plet

e” c

onta

ct r

ecor

ds y

ou h

ave

at e

ach

firm

. C

ompl

ete

mea

ns in

clud

ing

full

nam

e, a

ddre

ss, ti

tle, p

hone

, fax

and

em

ail.

cO

mp

lE

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nt

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ts

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cO

mp

an

y

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and

base 0 313

584

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8,439

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4,492

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13

44

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N/A

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25

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aw

457

1,16

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1,26

6

2,488

23,5

96

1,524

1,81

7

6,96

6

7,426

713

Lea

d 41

1

10

1 9 0 0 11

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353

439

243 0

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s G

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39

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23

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261

168

27

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378

314

398

124

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713

346

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m

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mic

als

Northwestern

Mut

ual

Pricewaterhouse

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Mor

riso

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and

Foer

ster

HospitalCorporation

of A

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OhioState

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ft

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Net

Pros

pex

does

not

pro

vide

fax

num

bers

, so

thes

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chni

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inco

mpl

ete

by o

ur d

efini

tion

. O

neSo

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did

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pro

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cou

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n co

mpl

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cont

acts

.


8

Herearetherecordsforourtenindividualbusinesspeople,inresponsetothe

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. Ple

ase

pull

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peo

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to in

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rese

arch

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we

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them

they

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res

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cate

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o w

e ha

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John

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603-224-4107

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thE salEs tErms

While we had no intention of asking about pricing, we did want to learn whether the vendors are willing to sell small amounts of data for one-off campaigns, or whether they insist on annual subscriptions by the seat. Three vendors did not provide an answer to this question.

Hereishowthevendorsrespondedtothefollowing: Please describe your sales terms. For example, do you sell only through annual subscription? Can marketers purchase data from you on a one-off basis? Note: We are not asking for pricing information here.

Participating vendor

Demandbase

idEXEC

Jigsaw Lead411 NetProspx

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ZoomInfo

Demandbasesellsourdataandsolutionsdirectlyonlineatwww.demandbase.com,through our direct sales force, and through channel partners. Customers are offered $20 of free contacts upon registration, and can thereafter purchase contacts one at a time or in bulk without a subscription. Corporate volume discounts are also available for larger purchasers. Oursalemodelisvaried.Customerscanpurchasestaticone-offdatapurchases(lists, bulk uploads), or they can buy annual subscriptions. The big differentiator is that in either model, the customer owns the data. Unlike one-time list rental, or one-year licenses, with our competitiors, Jigsaw lets you own it in perpetuity. For static purchase, you don’t get updates, in subscription,model you do, but either way, with Jigsaw, you buy it once and own it forever. Monthly/annual subscription or $0.25 a record for lists. NetProspexprovidesbothannualsubscriptionsandone-offpurchase.Nolimitsonamountofcontacts.Productisanonlineself-servicemodelwithdetailedselectioncriteria. Users can pick exact contacts they want from preview information provided in results sets. AOneSourcesubscriptionisavailableonanannualbasis.Marketerscanalsopurchase on a one-off basis and clients can generate lists pertinent to their needs. Selectoryissoldasanannualsubscriptionandisavailableinavarietyofdifferentslices and pricing options. Users can customize their database by geography, company size, industry and more. We sell a single company report or a list online on a pay-as-you-go basis and a one-off basis. We also offer prepaid contracts but no subscription. In a prepaid contracts your purchases are deducted from your balance.

OBsErvatiOns aBOut thE Data

Goingintothisstudy,wefiguredthat,becauseB-to-B data is a mature category, most vendors havefairlysimilaraccesstoinformationaboutU.S.businesses. We also assumed that data accuracy would be a serious problem, on the grounds that we don’t know any business marketer who doesn’t complain endlessly about data quality.

We were surprised on both fronts. First, we did not expect such a wide variance among company counts and contact counts reported by various vendors.InSIC32,stone,clayandglassproducts,for example, when we asked how many companies each vendor had on file, the counts ranged from 385 to 36,382, with all kinds of quantities in between.

In terms of completeness, the least likely data element to be available was email address, followed by fax number. This probably reflects the relative recency of these media as business communications tools.

Second,wewerepleasantlysurprisedbythelevelof data accuracy revealed in this study. When vendors reported having the individual’s record, it was correct in the vast majority of cases.

The major problem was in coverage. The number of vendors reporting no record on any given individual ranged from a minimum of three to a high of seven. Among the ten individuals, the higherrankingbusinesspeople(CEO,president)tended to enjoy better coverage among the data providers.

aDvicE tO BusinEss marKEtErs OrDEring cOmpilED Data OnlinE

Analysis of these results suggests that business marketers should exercise caution when ordering data from compliers. Marketers are advised to develop a detailed ordering methodology, to increase the likelihood that the data they receive is what they were seeking.

Someguidelines:

• Giventhewidevariancesindataquantity and quality, it’s essential that you investigate thoroughly the data sources and maintenance practices of the vendors you are considering.

• Donotassumethatallsubsidiariesoflarge compilerswillhavethesamedata.SalesGenie, OneSourceandidEXECareallunitsof InfoGroup.SelectoryandZapdataaredivisions ofD&B.Allshoweddramaticdifferences.

• Whenyoudoplaceyourorder,beveryspecific about industry selections. Find out if the vendorusesSIC,orsomekindofconversion algorithm.Notthatanymethodiswrong— just that you want to know exactly what you are getting.

• Keepaneyeoutforvendorspecializationby industry.NetProspex,forexample,appears to have particular depth in the business services category, but does not cover education at all.

• It’sagoodideatoconductacomparativetest beforeyoubuy.Onewaytodothisisby running an append test, sending each potential vendor a list of 5000 of your house names and asking them to add data fields. Be sure you include a few dozen records on which you know the “truth,” to assess accuracy of what comes back. Another method is to order a sample of names, and verify their accuracy by telephone.

We hope our research is useful to business marketers who are renting or buying data online. This information will serve as a guide as you conduct your due diligence.


19

This publication is part of a series entitled Business-to-Business Database Marketing, byBerniceGrossmanandRuthP.Stevens.Paperspublishedtodateinclude:

“OurDataisaMess!HowtoCleanUpYourMarketingDatabase” (October2005)

“KeepitClean:AddressStandardizationDataMaintenanceforBusinessMarketers” (February 2006)

“OutsourcingYourMarketingDatabase:A‘RequestforInformation’istheFirstStep” (March 2006)

“EnhancingYourB-to-BDatabasewithDataAppend” (November2006)

“15ThornyDataProblemThatVexB-to-BMarketers,andHowtoSolveThem” (November2006)

“WhatB-to-BMarketersareREALLYDoingwithTheirDatabases” (September2007)

These papers are available for download at www.dmrsgroup.com and www.ruthstevens.com

BErnicE grOs sm a n ispresidentofDMRSGroup,Inc.,amarketing databaseconsultancyinNewYorkCity.SheispastchairoftheB-to-BCouncilofTheDMA.Reachheratbgrossman@dmrsgroup.com

ruth p. s tE v Ens consultsoncustomeracquisition&retention,andteachesmarketingtograduatestudentsatColumbiaBusinessSchool.She is the author of The DMA Lead Generation Handbook, and her new book is Trade Show and Event [email protected]

The authors gratefully acknowledge the helpful suggestions provided byCyndiR.Greenglass,presidentofDiamondMarketingSolutions,and

RobertLesser,presidentofDirectImpactMarketing.

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