Can I Sell My Customer Database?

Amassing and selling your data like this is perfectly legal.

While some states, including California and Vermont, have recently moved to put more restrictions on data brokers, they remain largely unregulated.

There are also few laws governing how social media companies may collect data about their users..

How much is a customer worth?

If we conservatively estimate that each customer tells four people and 50%, or two, become customers, the gross sales from referrals is $36,000. Therefore, the total lifetime value of a customer is $54,000 (the gross sales per customer plus gross sales from referrals)!

Can you sell a customer list?

The sale of a customer list is thought of when a business that sells to other businesses closes. They cannot sell the customer base because, if they are closed, they no longer have customers. … The sale of a customer base can be a win-win for the buyer and the seller.

How much is a customer database worth?

The idea being that is you have 1000 clients on your clinic database – when you come to sell the business – you simply multiply the number of clients by a set dollar amount – say $10 per contact – meaning that your database would be worth $10,000 of your sale price.

Is data worth more than gold?

It’s not surprising that data has surpassed the value of precious resources like gold or oil. After all, modern businesses run on data.

How do you determine the value of your customers?

How to Measure Customer ValueIdentify customer benefits. … Total customer costs. … Find the difference between customer benefits and customer costs. … Evaluate your customer experience. … Focus on more than price. … Collect customer data. … Target your most loyal customers. … Segment your customer base.Apr 9, 2020

Can you sell public information?

A: As a general matter, there are no restrictions on what a private entity may do with records and information that it collects from a public entity. … In responding to these inquiries, we can give general information regarding open government and speech issues but cannot provide specific legal advice or representation.

Legal risks of selling leads While it’s perfectly legal for real estate agents to refer business to each other, it’s still possible for agents to violate privacy laws when selling the information of prospective buyers and sellers to other agents, according to attorneys.

How do I sell consumer data?

How to Sell DataSell your data directly: The most straightforward method is to sell your data directly to another organization through a private interaction that either you or the other party sets up. … Join a private marketplace: You can also join a private data marketplace where companies exchange data.More items…•Jan 13, 2020

How much can you sell a client list for?

Instead, you should come up with a percentage of your gross earnings. So, for example, if you decide to charge 40% of your yearly revenues of $50,000, you would sell your client list for $20,000.

Who buys consumer data?

Where Can You Buy Big Data? Here Are The Biggest Consumer Data BrokersAcxiom. Acxiom started life as demographics, as a side-project by Charles Ward to collect data for use in local politics. … Nielsen. … Experian. … Equifax. … Corelogic.

What are the 5 methods of collecting data?

Here are the top six data collection methods:Interviews.Questionnaires and surveys.Observations.Documents and records.Focus groups.Oral histories.Sep 27, 2019

How valuable is an email list?

Email lists are important because email marketing is the best way to connect with customers vs. social media. In fact, you are 6x more likely to get higher click-through rates through emails instead of tweets. Also, email is 40 times more effective at acquiring new customers than Facebook or Twitter.

How do you sell information?

Checklist for selling information productsResearch market and validate your product idea.Decide what type of information you’re going to create.Make an outline of your product.Start creating your product.Revise, Edit and Proof the content.Create a website.Add an email list.More items…