Whether you are experienced or a first time buyer of data, the marketplace is full of jargon and potential pitfalls. Let Koju Media provide some clarity on the data assumptions that people make;
Data assumption one – the data I have purchased is mine forever
Whether data is purchased or collected, permissions need to be gathered on it to ensure that you can continue to market to it. Business data is generally sold on a 12 month multi use lease, Consumer data is leased for 28 days, but can be extended to 12 months with an additional fee
Data assumption two – but I only collect data from my customers
See above – current DPA guidelines say you can market to customers within a reasonable time of permission being given, this will become more tightly regulated when GDPR starts next May (see our GDPR document for full details)
Data assumption three – I bought data 18 months ago, I don’t need to re-license it
Any purchased data will contain seeded records, so if you are contacting said data outside of the license terms, you will be charged again to re-license..
Data assumption four – I bought the data, so I can share or sell it as I wish
This again goes against the terms and conditions of data usage, data is licensed to your company only
Data assumption five – Cleanse and permissions cost too much, I’ll risk the fine
The ICO has recently stepped up its game, perhaps in preparation for GDPR, and a number of high profile companies have recently been fined. From next May the maximum fines for misusing data will increase to a potential 4% of global turnover – ouch!
Data assumption six – I only have Business data, this doesn’t apply to me
If your data has a personal contact name in the email, such as email@example.com this is and as such is governed by the same guidelines as a personal record.
Data assumption seven – It’s the same data I can get from Google
Good Idea…In theory! going on a prospects website will give you a potential phone number or email, after you or your staff have invested time and effort, but that number is for their clients to call, not cold callers. Calling them in this manner, you don’t necessarily have a contact name and run the risk of the company being on TPS or CTPS – a potential 5k fine.
Data assumption eight – Data is too expensive
Then you are spending with the wrong provider! Some specialised data will cost more, but in general, you should not be paying more than 30p per record or £300 per thousand for B2B. B2C cost’s vary a bit more by channel
If you have any questions on the above, you can drop us a line @ firstname.lastname@example.org or visit our contact us page here. If you are worried about the data you hold, or the upcoming GDPR changes, we can provide a free data audit report, offering a full range of data cleansing solutions and enhancements (where available) to suit businesses of all shapes and sizes.