This kind of shotgun approach to list buying is both rarely effective and very expensive. But data and analytics do not have to be hard.
A) First, evaluate your data needs properly
- know what revenue target your marketing team signed up for;
- know your target geos, industries, company size segments, and personas;
- know your average outbound conversion rates;
- then reverse engineer by subtracting your forecasted inbound leads—and “voila”.
B) Next, using your existing database, count only the records that were engaged with you in the last year and whose target segment (geo, industry, company size, personas) matches your own.
The gap between what you need (A) and what you have (B) tells you (C) how much you need to purchase.
As simple as 1+1 = 2, Total Data Needs – Existing Relevant Data = Data to Purchase.