In 2005, the term “Big Data” became mainstream, and everyone was looking to get hold of this potentially profitable resource. However, gathering accurate data was difficult for most.
So in 2010, Salesforce purchased Jigsaw, a tool widely used by sellers, as a way to democratize contact data. For a time, it was the go-to tool.
3 Reasons Data.com Shut Down
To some, it doesn’t make sense that a prominent platform such as Data.com would go down in flames — especially since it was a popular tool used by sellers across various industries. Let’s take a look at why Salesforce decided to shut it down.
Data Democracy Just Doesn’t Work
What made Data.com unique was that it used a crowdsourced data model that allowed users to vote on the data. This included voting on what services a person offers and for which company.
It’s easy to see how this could turn out disastrously. After all, wouldn’t it be better to go directly to the source to pull this information? This way, there’s accuracy in the data. With access to social media platforms like LinkedIn, this was possible. Companies could reference the data from profiles (the source), improving their data ten-fold. It also made Data.com obsolete.
Mass Emails Replaced By Personalized Segments
At one point, salespeople relied on casting a wide net with the hopes of catching leads. However, this is an outdated model that yields less than desirable results.
Now, what makes Data.com outdated is that it focuses on contact-centric data instead of company-centric data. Businesses no longer want to solicit companies and people to see if they’re the right fit. Instead, they’re adopting account-based marketing concepts, which are proven to yield a 171 percent higher contract value.
This again, makes Data.com useless to sellers, who are now looking for account-based tools. Businesses finally realize that it’s about quality, not quantity. Now they have a Data.com alternative to capitalize on this.
Changes in Privacy Laws (GDPR)
GDPR drastically changed how companies collect and use data from customers and prospects. It also made tools like Data.com at risk of breaching GDPR policies. These govern how businesses collect data, and the rights people have in deciding how entities can use their information. As a result, businesses would receive a fine of up to 4 percent of annual global turnover (or roughly $2.2 million, whichever is more).
The new rules would threaten Data.com since it didn’t rely on getting consent from customers to process its data.
A Data.com Replacement that Enriches Your Data
Big data is still big business, but only if your business has the proper analytics tool to make sense of it all. It also helps to have a platform that not only stores data but enriches it.
What this means is that the software searches for up-to-date information, including emails, addresses, phone numbers, and company names. This will increase the odds of your salespeople making contact with actual leads.
Evolving data is the future of data management systems. The only thing now is to find a solution that offers this.
Finding a Data.com Alternative
The deconstruction of Data.com isn’t the end of big data. In fact, it’s the start of a new era in how we manage it. It’s an era wherein businesses can collect information from leads and not worry about their data becoming stale.
However, it can be difficult finding a platform that simplifies the process of collecting and managing lead details in a CRM. At Leadspace, we have a customer data platform that does all of this for you, so you can focus on enhancing your marketing (and ROI).