So, what makes a marketing list of contacts “good” or “bad?”
Here’s an interesting corollary when it comes to marketing lists. It goes like this: A good list has the potential to generate a good response with an “average” sales message. But a bad list won’t yield the response you need, regardless of how good your sales message may be. And in the world of marketing lists, you better believe that there are good names on not-so-good lists and bad names on some great lists.
Essentially, a bad marketing list is one that’s simply not targeted. The more “random” lists are, the less value it has — unless of course you have a product or service you can sell to everyone at every address in America.
Messaging to large numbers of people, hoping that some will respond, isn’t proper list selection and deployment. This is called “guessing.” And guessing who may buy — along with hoping that many will buy — probably won’t generate too many responses.
A good marketing list of contacts, on the other hand, is one that is targeted. A good list is the one that matches your offer with people who have a propensity, potential desire, or likelihood to be interested in what you are selling.
A smaller, more targeted marketing list is of greater value, response-wise, than a larger list that isn’t targeted. Keeping names on a list for “old time’s sake” doesn’t add to the value of your list.
How long will a good marketing list of contacts last?
It’s up to you. It’s how you segment the list. It’s how you target the contacts. It’s how you maintain the list of contacts.
Good marketing lists include people who have made themselves known to you as being interested in what you have to offer. When someone requests information, for example, they are saying, “Tell me more. I’m interested, and I’m willing.”
Good marketing lists include people who match a certain profile. In its simplest form, this profile can include age, income, education, and so on It can also include incredibly specific information, such as credit rating, vacation home ownership, number of vehicles in the household, best time and channel to communicate and so on.
Good marketing lists are those you can use again and again. When you look at your list and determine that there is both short-term and added safeguards for a long-term potential in the contact names, is a sure sign that your list has value. Good list maintenance is another positive sign.
When your marketing list of contacts performs admirably three or four times in a row, you know you’re on the right track. After each use gather the analytics and interpret what the data means for longevity and what maintenance is needed on the marketing contacts.
Good marketing contact lists are like 100-ounce bars of gold: solid, valuable, and precious!
Finally, good lists are bargains! They don’t really cost you more. In fact, good marketing lists that target and narrow your universe help to lower your acquisition and processing costs. Become the master at updating targeted contact lists by always obtaining fresh data using analytical skills.
How often do you update your marketing lists? Are you using analytics? If so, how are you interpreting the data?
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