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