The European Union now comprises 27 member countries and half a billion people. Recent entrants have seen a rapid growth in B2B trading. Poland, for example, imported goods worth more than £2.4 billion from the UK last year.
So how do you target businesses across a range of countries, with different structures and diverse languages?
One source of pan-European data is brokers. Choose a broker that can supply data for all the countries you want to target. Otherwise, you will have to work with several different brokers, which can be time- consuming and expensive, often due to multiple set-up fees for each list you source. Also, before choosing a broker, consider whether commission rates could influence the broker's choice of provider and whether it would be better to go direct to the data source.
Data prices can vary widely across Europe, so check whether you are paying more for data from one market than another. You may find that the most expensive data isn't from your most profitable market. If possible, try to find a one-stop shop that standardises data prices across Europe.
Industry classifications can vary from one country to another, which means that it might be time-consuming trying to describe your target group for each country and you might end up with inconsistencies. Try to use a provider that has a standardised pan-European classification system.
File and address formats need to be consistent or you will waste time trying to convert and import your data into your customer relationship management system. A provider who can supply a consistent file format across a number of countries will be a dream for your IT manager!
Beware of duplication. Buying lists from several sources often means you can be paying twice or three times for the same information. Ensure that your provider can de-duplicate the database, or can provide "net name" deals.
Ask how the data is obtained. Data collected at a local national level tends to be more accurate and up-to-date than data collected across Europe from a single source, such as a call centre based only in one country.