The rental industry is very fragmented, with tens of thousands of independent businesses and operators around the country–each operating in their own niche and specific geography.
Our client found that there were very few data providers and aggregators covering this industry. Plus, those that did exist did not do a good job and were not very thorough or accurate.
This is because small businesses often are not covered by off-the-shelf data providers. However, nearly all businesses in this country are small businesses–a whopping 99.9%–creating a large challenge for any provider that serves these businesses.
As a result, if any company wants to sell to small businesses, they must invest in a custom data program to have the comprehensive data they need for sales and marketing purposes. However, creating a custom CRM is time-consuming and tedious–something that many businesses do not have the capacity or expertise to do in-house.
With this client specifically, they had an out-of-date CRM full of dirty and inaccurate data that they could not rely on. This was significantly holding back their sales and marketing efforts and was something they would need to resolve before making a big marketing push.
Thus, the client faced two different routes for enriching their CRM:
- Purchase the data
- Do the work manually
Again, the data quality that did exist was poor, and not worth the investment. Plus, doing the work manually was not something they had the internal capacity for. This led the company to seek out an external partner that had data enrichment expertise and could efficiently build out their CRM to make it more useful for their marketing efforts.