The better able you are to define your target client, the better your chances of developing a list or database that will help you reach them.
For consumer lists, you want to be alert to all the details pertaining to geography, household income, age, gender, number of children, profession, hobbies, and special interests.
For business lists, determine the appropriate industries you want to reach. Wherever you can, narrow the target to a specific segment within a given industry. Based on your current client data – including the size of the business, annual sales, number of employees, number of branch locations, and so on – you can come close to creating a description of “the ideal client.”
Dig into the information you have. Look at job titles. For example, refine engineers into civil, chemical, or mechanical. Narrow physicians into groups of dermatologists, pediatricians, or oral surgeons.
With your criteria settled, you are in a better position to know what you are looking for when evaluating the potential of a new list and purchasing it. You have a benchmark. Now, give your criteria to a professional list broker and ask them to search through the myriad private lists that are available. Here’s what they’re looking for – and what you should look for as well.
First, look for recent purchasing trends. There’s probably no better way to ascertain the value of a list than by looking at recent trends and activity. When you look to see just how recently purchases were made in a business category similar to yours, you can learn a lot about the viability of the list’s potential performance.
Second, look at frequency of purchases by the people and companies on the list. Of course, many purchases are always a good thing.
Third, determine how much, on average, clients spend on their purchases. If your product or service is priced high, be sure to substantiate that there is a track record of “big spenders” on the list.
Fourth, you want a list that is fresh — one that has been updated frequently so that it is as accurate as possible.
Fifth, always look for a combination of both old and new names. It is not usually advisable to request a selection of only the names that have recently been added to the list. Often, names that have been on a list for a long time, the ones representing steady buyers, can actually be the hottest names.
Sixth, consider this: How often have other marketers used the list? If it’s been used often, it may suggest that response is strong. It could also mean that it’s been overworked.
Finally, remember that the size of the list does not always matter. You want to choose the most targeted list — and the one that best fits your criteria — not necessarily the one with the most names on it.
Be willing to make the investment. A higher price may likely be there for a good reason: it’s a great list!
Now test the list.
Marketing lists can contain hundreds of thousands of names — even millions. So before you spend money on trying to reach the entire list, test a small percentage to determine how well it will perform for you. It’s always a prudent idea to test a new list against one that you know works for you already. Using codes on mailers, order forms, and shopping carts can help you track and compare the results.
