Everything You Need to Know About Purchasing Industry Data For Your Agency
When learning to write, we are told to show, not tell. The same philosophy applies to how your agency brands itself. Instead of telling brands they need your agency, show them why.
Two things get the attention of the brands you want to bring on as clients. Thought leadership and expertise. If you’re not super confident about your thought leadership strategy, take a few minutes tp read this post and come back to learn how to leverage industry data to showcase your agency’s expertise.
This post is about showcasing your expertise in any industry to gain more clients. And that expertise comes from having a solid pulse on the industries you provide services for. People love data, and the brands you are targeting are no exception.
Why Does My Agency Need Industry Data Insights?
Knowing the industry data means knowing how to use it to your clients’ advantage.
Demonstrating expertise in the industries you work with at your agency is the number one way to retain and attract business.
Your consumers are just as curious about industry data as you are. They’re going to seek it out, so don’t you want it to be your agency that cites and holds a speaker up to that data? And can you imagine the credibility your agency will gain if you’re the source who interprets industry data into actionable insights?
Many agencies use a data service to understand the pain points of their target audience and how to address them. They then create resources citing data paired with their PR and marketing expertise.
Not to mention, you need industry data for your own agency’s growth strategy. Keeping up with industry data will keep the services and industries you work within fresh and impactful.
Brands and Their Perception of Your Agency
Brands care more about expertise than anything when looking for an agency. You can gain a competitive advantage by knowing which data to purchase and leverage for your agency.
As you know, there is a lot of research that goes into deciding to sign on with an agency. Brands will be seeking out information themselves and will pay close attention to industry data. If your agency can be the one to cite the data and explain it in a way that resonates, your agency will instantly be more credible.
Different Industry Data Options
When it comes to your data provider, there are a lot of options. Here are a few I’ve used, but many options are available.
IBIS World is one of the most credible sources of insights from thousands of industries. Their platform helps agencies make business decisions based on industry trends and helps them retain expertise to serve their clients.
Coldlytics is another popular option, and I like them because they allow agencies to design the data they want to gather. They also put humans on the project instead of relying on scraping or bots.
D&B Hoovers is another service I like because it emphasizes the value of always having fresh data. Their platform is also the easiest to use which is enticing to marketers who aren’t supper technically inclined.
On a budget? If you’re still growing your agency and can’t justify the cost of data, you can still educate yourself by following the right publications that often publish data-driven resources. Try a Google search for industry data in the past year and that may be all you need!
What To Look For In a Data Provider
Just like brands don’t want the cheap option for their agency, the same philosophy should be applied to your data acquisition.
You want a reputable company with accurate insights so that you can develop a plan for your agency and your clients. Here are a few things to keep in mind when vetting data providers:
Ask for testimonials and case studies if they’re not publicly available on their websites
Request a sample of similar data insights they’ve produced for other agencies to get a feel for their expertise
If they believe in the data they provide, a good data provider will offer a refund policy
Ask all of your questions to identify good customer service and insights
Shop around and talk to at least three data providers before choosing one
Final Thoughts: I’m Ready to Leverage Industry Data!
If your agency can leverage both industry data and social proof, you’ll be unstoppable!
As the CEO of The Campfire Circle, an agency for agencies, I help agencies find and make the most out of data to generate new business. If you need my expertise, you can contact me here.
Having industry insights from new data constantly hitting the scene will enhance your thought leadership strategy and build the trust brands crave when coming on board with a new agency.
What is your main source for gathering industry data? I’d love to read all about it in the comments below!
