The future of business lies in data. And while you’re likely already sending marketing emails, text messages and direct mail to existing customers, it might be wise to also apply these methods to reach prospects who haven’t heard of your business yet. Information on these would-be customers is known as “prospect data.”

Naturally, if you want to expand your reach, the data you’re working with needs to be accurate, but is purchasing it the right move? Here’s a closer look.

Pros and cons