Bob Dunhill. the president of Boca Raton, FL-based Dunhill International Lists, has some guidance for small business owners in the art of forging relationships with list brokers.
The best course might be to go directly to a list compiler, who has “people who care,” Dunhill says.
Let’s say you find a broker who will work with you (which means everything from finding the lists to negotiating price). Dunhill offers the following advice:
First, the marketer should make sure the broker knows what the offer is, instead of relying on your description of what sort of prospects are needed.
"List companies often don't inquire about the product or service," said Dunhill.
Second, you should invest in having their current customer files modeled or profiled.
"That includes even the small guys," said Dunhill. "That way, they can go to the list house and say, ‘I want people with this income, age, presence of children, type of residence. By adding lifestyles and interests to the demographics, they can qualify [their prospects] much further."
Dunhill feels this should be endemic knowledge for a small business owner. "[They] should already have a have a feel for basic information about their customers at their fingertips -- and if they don't, their accounts receivable files can provide it," he says
"If they have two or three thousand customers, they should be able to get information about when they bought and how often, and what they spent. I don't care if it was a meal in a restaurant or a car or a printer. Billing and invoice information is a very good source of information for a profile."
Marketers who have a clear profile of their existing customer bases should then step back and examine the products with an eye toward discovering new markets.
"Somebody who is selling something to somebody or some group should say 'Wouldn't it be great if I could sell to this other group?' He should spread his wings a little bit and think of other markets that might be out there that he could reach with a little different copy," Dunhill adds.
Dunhill also offers these tips:
*Any list you rent should be comprehensive, covering all the people or businesses in the area being targeted, whether the list is segmented by SIC or area code.
*The broker should be willing to guarantee the list's accuracy and deliverability in writing. Most list companies will certify that their lists are 92% deliverable.
*The marketer should look at a hard copy of the list, whether on labels or cards or a printout, to verify it is what he ordered. "Be watchful for obvious red flags," Dunhill said. "If he wants a list of funeral shops he shouldn't get a list of gift vendors. Mistakes happen."
*Finally, there's one obvious element no one should overlook—compare list prices.
