November 05, 2020
Institutional databases come in a variety of functionalities and channel specialties, and, of course, a variety of costs. It can be overwhelming to decide how much you should spend, and harder to rationalize that cost to the leadership team at your firm.
We know — we’ve been there too. Since 2006, the Dakota team has worked to raise over $40 billion for our clients, and we did it by spending long hours researching and compiling leads to find the right people to set meetings with.
At Dakota, we believe we should be as transparent about things like price up front, so that you know right off the bat if we’re in your price range and could be a potential fit.
We know our value, it’s time to show you that we mean business.
In this post, we’ll break down the cost and value of Dakota Marketplace as well as the Dakota Salesforce App.
By the end of this article you should have a good sense of the actual price for Marketplace, as well as a better sense of the value it brings to your team that can’t be truly quantified.
Dakota Marketplace is an institutional investor and database of RIAs created and maintained by the fundraising team at Dakota. We’ve used Marketplace since 2006 to raise over $40B. At its core, Marketplace is a database that allows investment salespeople to quickly find the right prospects to reach out to schedule meetings.
Used by hundreds of investment firms, Marketplace's data is curated and qualified, so your sales team can focus on what matters most: selling to buyers that allocate to outside managers, not spending time researching who to call on.
Here’s what you’ll have access to with a Dakota Marketplace subscription:
Price: $15,500 for one user, and $1,000 for every additional user license.
Dakota Marketplace is best for investment sales professionals who are looking for a detailed look into accounts that sell to outside managers.
With Dakota Marketplace, you get access to a vast number of accounts and contacts. This data allows you to spend your valuable time setting and keeping meetings rather than searching for people to call on. We are effectively guaranteeing 98-99% updated contacts, something that’s nearly impossible to achieve in most industries.
Since the data is updated daily by a team of industry experts, you’ll never have to worry about logging in and finding the information you need missing or outdated. That means you can focus on connecting with your prospects.
And, more than that, Marketplace gives you an edge by keeping you on top of the industry through additional platform content like the Dakota Live! Call and Dakota Live!, offering insights into key accounts and players.
The Dakota Marketplace for Salesforce App leverages the power of Dakota Marketplace and merges it directly with your CRM, solving the problem of disconnected and outdated data.
When you connect Dakota Marketplace with your Salesforce instance using the Fuse for Salesforce app, you can select the accounts and contacts you want linked to Dakota Marketplace and they will be updated in real time by our team.
Here’s what you’ll have access to with a Dakota Marketplace for Salesforce subscription:
Access to fresh leads daily via new accounts and contacts being added directly into your Salesforce instance from Marketplace.
Automatic updates to Marketplace contacts, including email addresses, titles, phone numbers and asset class coverage areas.
Links back to Marketplace from your Salesforce instance to access over 150 custom fields and Marketplace’s full feature set.
Fuse for Salesforce App Price: $7,500 for two users per year.
This is best for investment sales professionals who want guaranteed consistency between their institutional investment database and their CRM.
With Dakota Marketplace, you get access to a vast number of accounts and contacts. However, the problem with having access to a large number of data like that is the fear that it will become outdated. With the Dakota Marketplace for Salesforce App integration, you’ll have all of those accounts and contacts imported and updated directly into your CRM, eliminating that fear.
For every account or contact field that you link to Marketplace, we’re updating it in the background. You’re truly outsourcing and paying for our team to update your Salesforce on a real time basis. Whether it’s updating an AUM or an address to adding a contact or title, we make that update for you. No more wondering if your data is synced and up to date, and importing spreadsheets into Salesforce.
We all hate hearing it, but it really depends. There are platforms like Preqin, which offers a variety of options, including Preqin Pro and Preqin Insights, and the price varies depending on the number and needs of the users.
Similarly, the Discovery Data platform offers a variety of subscription options, depending on the type of industry data you’re looking for: investment or insurance.
Typically, though an institutional investor database could cost anywhere from $5,000 to $25,000. It all comes down to how your team plans to use the platform, and how many users you’ll be registering.
If your sales team is spending more time finding people to call on than they are holding meetings, the answer is probably yes.
It comes down to the needs and size of your sales team. Marketplace offers up-to-date, curated leads that your team can take action on right now, no research time required.
Additionally, if you’re already using Salesforce, and struggling to keep it maintained and updated with the information within your institutional investor database, then the combination Marketplace and Salesforce App subscription would be a great solution for your team.
Whether you choose one or both of these solutions, your team is guaranteed to have the time-saving benefit of accurate data. We'd love to offer you a free trial.
Gui Costin is the Founder and CEO of Dakota.
