There are several types of lead generation avenues that exist in the marketplace. Many organizations look to trade shows, SEO efforts, online advertising, et cetera as avenues to effectively optimize their lead generation efforts. While many of these options can be effective in building a list of prospects, another proven option exists; which is acquiring a targeted lead list from a reputable lead generation organization.
There are multiple, credible sources from which a business can acquire a quality list:
- Purchase a list from a list broker
- Build your own
- Partner with a lead generation firm
Buying a list from a broker can be very cost effective but it also carries a risk. A list broker is a marketing organization that compiles and sells contact information to be used for various marketing campaigns. You can work with the list broker to define your target market and in turn, they will build a list “universe” based off of this criterion. Going with the cheapest list broker may not always give you the results you anticipated.
There was once a client that needed a list quickly and didn’t have a large budget to spend. The client thought that the biggest bang for his buck would be getting tens of thousands of contact records for only a few thousand dollars. The problem was that the prospect information was not vetted. The sales team uncovered that they were not calling on the target market and instead were spending a great deal of time cleaning up the database versus selling on it. Finding a reputable list broker is essential; otherwise, although you found a cheap source, you may be stuck with a list that has a high invalidity rate.
Another option is building your own database and there are many steps you can take to do so. Websites like Jigsaw are available to find up to date contact information for organizations and the employees that work there. Every contact includes a phone number, role at the company, address and even an email address: all tools that enable you to determine if the prospect is an influencer or a decision maker. While this option is cost effective, this site, like many others, may require a membership or fee to view the results.
You could also reach out to your sales teams to provide you with the top 50 to 100 prospects and build a list of contacts using this as your guide. Working with your sales team provides reassurance that you are focused on the right organizations to close sales. In fact, once someone is on your list you can continue to market to these contacts for future offerings, increasing the chances that they will make additional purchases. Although working with internal teams to create your own list has its advantages, doing so can be very time consuming and may take a lot of manpower to uncover the information needed.
While building your own list may appear to be a cheaper option, it is often challenging because it is very time intensive and means your valuable resources have to redirect their attention away from their jobs to build the list. Thus it is often advantageous to find a lead generation partner that is experienced in building prospect lists for their clients. If you consider this route, then hire a partner who is familiar with the intricacies of your industry and has the knowledge around what markets to penetrate. They should also have experience with which titles to target and will be able to determine an acceptable list validity rate. While this option may be more expensive than the others listed above, an outsourced lead generation expert can save you time and money in the long run by getting in contact with the right potential customers from the start.
One thing is for certain, you do not want your sales team spending more time cleaning up a list and hunting for the correct contacts instead of doing what you have hired them to do – sell. Utilizing one of these avenues increases the chances of converting list contacts from prospects to closed deals.
Take a look at what your sales teams are doing for you currently. Are they able to focus their efforts on engaging with qualified leads or are they instead spending much of their time speaking to the wrong people or correcting bad information in the database?
Want More Insight?
Contact Invenio Solutions to hear how we have used integrated marketing efforts to help multiple organizations grow sales, increase their lead pipeline and generate more revenue with lead generation and telemarketing programs.