With the current situation, companies balance a desire for cost savings and increased ROI of alternate sales intelligence solutions against perceived disruptions from switching vendors – even if the new vendor delivers higher quality at a much lower cost.
As with all technology vendor choices, the same is the case with switching a data partner. While some businesses are happy to switch to a new data partner, many companies want to avoid the frustrating process of finding a new partner, onboarding, training, integrating into their tech stack and processes, and as a result, hesitate to switch, even if they have cost, performance, quality, or cultural fit issues.
Why Are Companies Reluctant to Switch Their Data Partner?
Many companies feel uncomfortable when finding a new data partner or going through an onboarding process with another vendor. They tend to stay with the old vendor even if the switch might turn out to be a lifetime deal or help them save money for their company.
While there will always be switching costs involved in any transition it just doesn’t make sense to stay with the same data partner when you know that you can get better value and service elsewhere.
Your business deserves a B2B data provider who will maintain transparency in their capabilities, ensure data accuracy, and maintain the quality and reliability of your database(s). Switching vendors may seem costly, stressful, and risky at times. However, note that sticking with the wrong B2B data partner is often more expensive and carries comparatively higher risks. While many prefer to stick with the devil they know this mindset often obscures the immense costs involved with inaction. Thus, looking at the positives, switching to a new vendor should be embraced. So, you don’t need to settle for anything less than the data partner who earns and deserves your trust.
When Is The Right Time To Switch Your Vendor?
Irrespective of your company size, you deserve top-quality data from your partner. However, switching from one vendor to another may not look easy. There are costs, it is disruptive, and it may have an impact on your sales and marketing operations. Thus, you will need to weigh the costs and benefits of switching the data partner with your vendor and determine when the timing is right. If you have properly timed and planned your transition disruptions and switching costs can be minimized to the point of being negligible.
Is your current data partner doing justice to your investment? Here are 3 primary signs that it’s time to switch to a new B2B data partner.
1. Excessive Cost Increases
Every data company (like most SaaS solutions) will raise their rates over time as they add data, features, integrations, etc. That is a part of doing business, and when it happens, you should not be surprised. However, you don’t want to do business with a data partner who will exorbitantly raise their prices without notice while failing to improve the quality of the product. Reliable data partners make it a priority, well in advance, to prepare their customers for inevitable price increases while offering more value to their users that more than justifies the increase in price.
If your data partner is increasing their pricing for the data, check if the vendor is offering access to more data, offering more accurate data than earlier, adding features like data enrichment or intent signals, or more data filters. If yes, and those are indeed valuable then you should probably renew. If not, there is no point in increasing your budget just to stick with the same solution. If your vendor’s pricing practices are not justifying the investment, it might be time to start comparing other data vendors.
2. Poor Service
If your data partner wants to ensure a long-term partnership with your company, you will see it in their commitment to service. Great customer service, right from pre-sales, onboarding, to customer support, is critical for a long-term business partnership. You should not have to settle for out-and-out negligence, poor response times, or general indifference. These issues can distract your focus from your core business which defeats the purpose of partnering with a data vendor and wastes time and money.
3. They Can’t Help You Reach Your Long-term Business Goals
Evaluate your data partner every quarter and track their key performance indicators. As part of the assessment, ask yourself if it’s clear that your vendors are aligned with your long-term business objectives. If they don’t help you achieve your business goals, it’s probably time to let them go.
Change Should Be Easy and Motivating
If fear stops change then, what should motivate you to make a change? Here are four motivation factors:
1. To Solve a Current Problem
If you feel you are having a problem that hurts your business and you don’t think your existing data partner will be able to fix it then you need to look for someone who can.
2. To Make an Improvement
You might be reaching decision-makers and getting the results with your existing vendor. However, if there is innovation or efforts to improve data quality or expand coverage your efforts are likely to stagnate. Improvement is the second most powerful factor that should motivate you to try a better data partner.
3. Regulations and Compliance
If your current data partner cannot meet your needs and keep up with data compliance, you should start exploring a data partner who is data compliant.
4. To Get More Value out of Your Data
If your data partner cannot justify the pricing, you deserve a data vendor who can justify the cost versus data quality ratio.
Why Switching to SalesIntel is Easier?
Any data partner needs to have a clear and accountable plan for working with an organization to improve data quality. This practice keeps us committed to bring the best sales intelligence platform for go-to-market teams in B2B companies and keeps us motivated to keep adding value to our B2B data. From the many values that SalesIntel brings to your data, here are a few primary features that make it easier for the B2B companies to switch to SalesIntel.
1. Quality, Quantity, and More for Less
You get access to over 5M 95% human-verified B2B contacts along with the insights you need. Our data goes through a re-verification process every 90-days to avoid data decay so you can get the up-to-date data every time you use it.
2. Highest Coverage of Work Mobile Numbers in the Industry
Dialing prospect’s mobile numbers has proven to yield shockingly higher connection rates. As per a recent study by ScaleX, sales reps are 7X more likely to reach prospects using SalesIntel work mobile numbers.
3. Data Completeness
You can fill in the gaps in your inbound and event leads or any existing B2B data list within a few clicks with our data enrichment feature. Complete data allows you to take a more focused approach while prospecting and selling.
4. Identify Customers with Buying Intention
Only 15% of companies are in the market for any specific product at any given time. SalesIntel helps you with intent data that allows you to identify and reach out to these companies that are already looking for a solution, skip to later buying stages and shorten your sales cycle. With intent data driving your sales and marketing campaigns you can easily 4x your sales pipeline expansion and achieve a 300% marketing ROI.
5. Find Whom You Need With Research-On-Demand
If at any point, you identified the data you are looking for, but it is not in our portal, our research team will work with you to find your Ideal Customer Profile (ICP) and build a custom list within 2-48 hours.
6. Smoothest Onboarding in the Industry
With SalesIntel, our clients have experienced the smoothest onboarding in the industry. Most of our customers come to SalesIntel from another data provider and our success and support teams specialize in making sure that SalesIntel is fully integrated into your tech stack and processes as well as fully trained and onboarded. SalesIntel’s platform is also built from the ground up for simplicity and ease of use. Our success stories speak for our streamlined and simplified onboarding process.
7. Continuous Improvement to Stay Aligned With Your Business Objectives
We have every detail your business needs for exponential growth. Simple. Our excellent customer service combined with the quality of the human-verified data has helped our clients reach new prospects they wouldn’t have reached otherwise. Our team tirelessly works to integrate CRMs and get involved in 3rd party partnerships to be able to deliver only the best comprehensive B2B data solution for your business.
Work With The Data Partner You Can Count On
A successful vendor relationship requires more than just technical skills. It is our data promise and commitment to customer service combined with our experience of helping B2B companies achieve their growth objectives that has fueled our success.
We are committed to doing the job right and have tailored our solutions to your needs. Join our weekly SalesIntel demo or schedule a one-on-one demo to learn how we can deliver superior results for your business.
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