Cut your marketing budget, not your strategy- part 7

Today, we have the short-term budget idea of assessing your rented data. If you buy lists of leads, this point is particularly relevant to you. Keep in mind that data always needs refreshing! 7) Assess your rented data. Most of the time, only a small amount of the data offered by data providers are relevant and being used in analytics or to drive programs. Of the hundreds of demographic or firmographic data elements you purchase, how many are actively being used? Are you using this information to drive a single program? Is the program generating enough ROI to justify the expense? Not only is this information expensive to purchase, but maintaining it carries a cost. This cost includes storing the information and maintaining the integration points or load routines into the database. Many times, the process is on autopilot with the data coming regularly through automated feeds set up by past previous process owners and over time, the organization forgets why it was important. Remember, the information contained in your rented data is always changing and has a limited lifespan so make sure you are using it right away. You should also keep in mind that the firms selling this information will always be there ready to sell you new data when you need it.