List Building
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List Building

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List Building List Building Presentation Transcript

  • List Building When to Rent, Buy and/or Profile
  • How to get started
    • Before you decide if renting, purchasing or prospect sourcing contacts to supplement your house list is prudent you need to know some key data points:
      • Establish your revenue goal
      • Establish you average deal size
      • Establish the average percent of inbound leads that become clients
  • What does all this tell you?
    • Revenue Goal ÷ Avg. Deal Size = Total # of deals needed to reach revenue goal
    • Required # of Deals ÷ % of Leads Closed = # of leads needed to meet revenue goal
    • Now find the average response rate for house list
      • How many leads are generated, on average, when sending to the house list at any given time?
    • If you found that your house list is indeed sufficient then there is no need to continue through this presentation
      • You’re house list is the most effective way to generate leads
      • Remember that generating an excess in leads that your sales team is unable to follow up with in a timely manner actually creates more harm then good
    Is your house list sufficient?
  • Options for building lists
    • Budget is an important variable, if it’s limited some options may not be viable
    • Based on average response rate (from most expensive to least) the best options are:
        • Renting
        • Prospect Sourcing
        • Purchasing
  • Universe study
    • A universe study should be done before renting or purchasing list
    • A universe study is an ideal way to research the big picture:
      • Find out what niche your target buyer is most likely to exist in
      • What are the costs associated for various lists
      • What industry publications prospects read
      • What is the cost for a minimum order
      • What selects are available to you
  • Selects
    • Specifications for the people you want to reach: i.e. geography, department, and position title
    • Need to take advantage of as many of these selects as possible
      • Helps create the most targeted and therefore smallest list possible
    • While most vendors charge for each select, you often recoup these charges as they weed out those unqualified, thereby producing smaller, less expensive lists
  • Readership communities
    • Research Communities: good idea to explore and find out where your prospects get their information
      • Research publications (print & online) to see if they rent their lists
        • If they do rent lists this is a good thing (counter to conventional wisdom), as opposed to selling their lists
  • Media purchases
    • No Deals to be found
    • Get what you pay for:
      • The more expensive the list, the higher quality it is and the less it’s been sent out
  • List renting
    • If best option contact list broker and list specifics (opt-in, double opt-in, how often its sent)
    • What costs are associated
      • Typically average list is $.25-.50/name with 5,000 contact minimum order
  • Pros of list renting
    • The list owner allows you to see the list’s statistics (avg response rates, avg leads generated, etc.) before you rent
    • Rented lists usually generate .5%-2% response rate
    • The list owner manages the number of times the list is sent out, which prevents overuse
    • Once the email is created, the owner will send it for you
  • Cons of list renting
    • You do not own the addresses on the list – you only get the contact information of individuals that take part in your offer and fill out one of your forms
    • A fee is charged each time an email is sent
  • List purchasing
    • Purchasing a list is the same process as renting except you pay a one time fee,
      • Usually less than a rental fee ($.10-2/name), to keep a physical copy of the list
  • Pros of list purchasing
    • You own the addresses on the list immediately
    • This is a shortcut to instantly boosting the size of your house list
    • You can use it as many times as you want
    • Once purchased, sending to it again is free
  • Cons of list purchasing
    • Rarely are purchased lists opt-in
    • Rarely are purchased lists targeted
    • Chances of your communication being marked as spam are higher because it’s unsolicited
    • If there are too many spam complaints, your risk of being blacklisted is higher
    • The list can be sold to many people, which puts it at risk for overuse
    • Purchased lists have a much lower average response rate, around .5%
  • Prospect sourcing
    • Includes searching for new clients, collecting contact information and adding it to the house list via several online data collection methods
    • Process of collecting this information is difficult and most good prospect sourcers have over 10 years experience
    • If you don’t have access to someone with that knowledge, ramping up can be an insurmountable obstacle
    • Need the proper technology to be effective
  • Pros of prospect sourcing
    • Once technology and ability are acquired there are no additional costs
    • It helps expand your house list – you own the data you collect
    • You gain contact data for specific companies you are interested in
    • It can augment your house list at any time with new data
  • Cons of prospect sourcing
    • Addresses are not opt-in
    • You can gather outdated email addresses
    • The process is time consuming if done internally
    • The skills needed require considerable time to acquire
    • The technology needed is expensive
  • Before picking an option…
    • Test them out!
      • Make sure the list you’re planning to use is legitimate before sending out the actual marketing campaign
  • Call to action
    • Full Report – http://crunk.starrtincup.com/lists
    • Contact: William Tincup
    • W: www.starrtincup.com
    • E: tincup@starrtincup.com
    • P: 817-204-0400