If you're among the thousands of data providers delivering alternative data to the investment community, financial institutions, or corporations, then this post is for you.
As the data industry has matured, we observed a few consistent challenges that affect go-to-market (GTM) teams at data providers, regardless of whether you're a newcomer or an established player. Here at Amplify Data, we set out to address these challenges across sales, delivery, and customer success head on by building a software platform that simplifies operations and empowers GTM teams to operate autonomously.
In this post, we’ll outline three major challenges that we see, share how Amplify solves those challenges, and why we partnered with the leading cloud data platform, Snowflake, as our computational backbone.
Many people assume that selling data is as simple as flipping a switch to move it from point A to point B—but the reality is far more complex. The data sales process is lengthy and intricate, and many providers encounter common pitfalls along the way.
Data providers can no longer build a business by reselling the same database to multiple buyers. Larger funds may take all the data en masse as they have an army of analysts and data engineers, while smaller funds (or corporate buyers) have limited resources and often require specific subsets tailored to their unique needs.
Failing to customize data for buyers can also mean missed opportunities as highlighted by an unhappy data buyer:
“We were evaluating consumer transaction data from a well-known vendor, but they couldn’t slice the dataset by the specific tickers we needed. We had to walk away, leaving a significant deal on the table.”
- Data Buyer at a prominent NY-based research firm
Customers have standardized their technology stacks on one of the leading data platforms, and tend to be a "Snowflake shop" or "Google shop" for example. Vendors that force buyers to integrate with outdated or rigid delivery methods risk losing deals.
As one buyer noted:
“I’d definitely prioritize buying data from a vendor that could serve their data directly into Snowflake over one that could not.”
- Data Buyer at DoorDash
Nothing is more exciting than when an agreement for a trial or data sale is finalized (obviously the latter is preferred)! But that is when many data providers struggle with limited insight into how buyers interact with their data. This blind spot makes it difficult to assess whether the data meets client needs, uncover potential issues, or identify upsell opportunities.
One provider shared her frustration:
“A large hedge fund with over $100B AUM finally started trialing our dataset after months of negotiations. But once the trial began, we had no visibility into how they were using the data or whether it met their expectations. Apart from a couple of emails, it was radio silence.”
- Director of Partnerships, Audit Analytics (an IdeaGen company)
Amplify is a no-code platform that enables personalized data sales, flexible data delivery, and visibility into usage all the while reducing infrastructure costs. Amplify orchestrates and abstracts away all the underlying complex infrastructure so that non-technical commercial teams can go back to running their business, as opposed to dealing with tickets, slacks, emails, and other time-consuming requests.
Leading data providers like Consumer Edge, Dewey, pass_by, and the Warren Group, are already leveraging the Amplify solution to accelerate their go-to-market processes with their clients and prospects to drive bigger revenue opportunities.
“The data customization you [Amplify] provide takes 3 weeks of <expletive deleted> stupidity and makes it take 10 minutes total. It’s dope.”
- Head of Data at 10B+ NYC-based Hedge Fund
Amplify enables providers to quickly customize datasets without engineering support. With our no-code tools, providers can personalize offerings, open up new revenue streams and accelerate sales cycles.
With Amplify, sales teams can:
Amplify empowers data providers to meet buyers where they are, offering delivery through Snowflake Share, cloud-based file deliveries, APIs, or even SFTP. Buyers can self-connect to their preferred environments, avoiding credential-swapping headaches.
With Amplify, Delivery teams can:
Amplify eliminates blind spots by providing real-time visibility into data usage. Providers can track trial activity, monitor transfer statuses, and proactively manage accounts to mitigate churn or upsell opportunities.
With Amplify, Customer Success teams can:
Snowflake is integral to Amplify’s success. We chose Snowflake not only for its technical robustness but for its alignment with the evolving needs of modern data providers and buyers. Its unique blend of usability, ecosystem benefits, and efficiency makes it an essential partner in our mission to transform the way data providers run their business.
As the demand for alternative data continues to surge, data providers face an evolving landscape of buyer expectations, technological advancements, and operational challenges. At Amplify, we’re proud to be building the Operating System for Data Businesses, empowering providers to seamlessly capture and capitalize on this growing demand. By leveraging the power and infrastructure of industry leaders like Snowflake, we enable data providers to focus on what truly matters - creating and delivering exceptional data products.
If you’re a data provider looking to streamline your operations, accelerate your sales cycles, and drive customer success, Amplify is here to help.
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