How To Choose Your Business List
Last week’s blog was all about what to do with your marketing list, so in a backwards kind of way, I thought it might also be useful to have a few pointers towards how to select your ideal prospect list.
Who Are Your Current Clients?
This might seem obvious, but the best starting place, assuming you’re not a new start-up business, is knowing who your existing clients are. By that, I don’t mean names – knowing that you sell to Andy at ABC Ltd and Debs at XYZ Ltd won’t help – I mean the profile. So put a little time and effort into analysing your existing clients.
A little work will allow you to work out the industries you sell to and where the value lies. In other words, create a graph / spreadsheet / some form of visual representation of who spends what with you. If you have a CRM system (Customer Relationship Management) or book-keeping software, this should be easily done by the click of a relevant button. If you haven’t, it may need some more manual input; nevertheless it will be worth it.
Building The Profile
Now that you know who buys from you and how much they spend, you can do some further analytics to build a profile of your client base. You should hopefully be able to determine the geographical regions your clients are based in and depending on the level of information you hold on them, maybe the industry sectors and the company sizes. Don’t worry if you can’t ascertain this from the information you hold – it may be possible to get help from a third party such as Data Bubble, who can build a profile for you.
Once you have this profile, you will be able to see the industry sectors and types of companies that spend the most with you. Furthermore, you can see the geographical areas where spend is focused and this will highlight the areas where your presence is both strong and weak. Given that you will now be targeting the industry that spends the most, you can take advantage in two ways:
a) If you know an industry is particularly prevalent in one area and you have penetration there, you can focus efforts to attract more of the market within that region and
b) If an industry is more geographically spread and you have little or no presence in certain geographical areas, you can focus efforts there
In both examples, the fact that you already sell to that particular industry gives you the perfect introduction, since you can demonstrate experience in the field and sell yourself as industry experts.
How Are You Going To Undertake Your Campaign?
Your next consideration is how you intend to reach your prospects. That might be via a mailshot, an email broadcast, a telemarketing campaign or a mixture of two or more, maybe incorporating some SMS text broadcasting. Are you looking at doing a one-off blast or starting an ongoing campaign, mixing up some different formats and starting to build your “touches”? Since the different mediums can affect the price of the data list, be sure to know your plan in advance. There’s little point in buying an information field that’s not going to be used and similarly, should you decide against spending that extra £30 on getting emails too, only to decide later that you want them, you may end up in your having to purchase a whole new list.
Now You Can Go And Buy Your Business List
Armed with this information, you are in the best possible place to purchase your business list. You know the industry sectors you’re aiming for, the typical size of companies that buy from you AND the geographical information you need to target a particular region.
If you wanted to undertake even more analytics (or if you employed a company to do it for you), you could even drill down further into the ideal person within the company or the minimum / maximum turnover most applicable, or maybe even the age of the company!
Still Not Sure?
It’s understandable. This is no easy task, especially if you’ve not done it before, so you want to be sure you get it right.
We’ve been in this industry for some time and whilst we’re a list broker / data supplier, we’d be more than happy to offer you some further guidance. We won’t tell you what to do, but we can give you the benefit of our extensive experience. Why not visit our website’s Help and Advice page for more information, as well as our blogs. Alternatively, call us on 01274 483936 for a chat or to arrange meeting up for coffee and a choccy biccy……we like choccy biccies!!
We hope you like our blog and welcome your feedback. By the way, these pointers are exactly that – pointers – and are no way exhaustive, merely a starting point to help you on your way. Take a look at our website’s Help and Advice page for more information, as well as our other blogs.