Hints and tips
Building a targeted business prospect list
Posted on by Cindy Yip
Estimated read time: 3 mins
Targeting the right businesses with the right offer at the right time can substantially increase your chances of B2B prospecting success and help aid growth for your business. But as well as maximising your opportunities for making a sale, careful targeting can also save you money by reducing waste.
Follow these simple steps below, for the easiest, most cost-effective and profitable way to build a targeted business prospect list.
Step 1: Knowing your customers
First, think about who your existing customers are and build a picture of your best customers by looking at the information you have on them. Look at their business sector, size by turnover and number of employees, geographical location and number of locations, ownership of products, purchasing behaviour and so on.
Step 2: Revealing look-a-like prospects
By building a list of new business prospects who most ‘look like’ your existing customers, you can target the people who share similar characteristics and are therefore more likely to become your customers. It’s important to have a flexible database that allows you to refine the business prospect criteria. Applying selection filters on your data will add real depth and quality to your targeting.
Step 3: Segmenting your business prospects
Effective B2B prospecting is all about making the right offer to the right person at the right time. That said, your direct mail will still need to grab your reader’s attention, hold their interest, and compel them to the action you want. The way to do this is through an engaging proposition. ‘Segmenting’ means identifying a sub-group (or segment) of your prospect list that has a set of common needs. This will allow you to tailor your message to that need so they are more likely to be interested in your offer.
Step 4: Ensuring quality and accuracy
As well as using your own customer or prospect databases, buying up-to-date business lists to market to can help to ensure data accuracy. With List Builder, you have instant access to 5.1 million records to help you find new clients.
Step 5: Buying B2B prospect data
Purchasing a business prospect list through List Builder provides you with all of the decision makers’ details, including address, telephone and email. These details are updated regularly and are safe for you to contact. This means you can contact your new prospects with absolute confidence, improves your response rates and saves you time and money. You can also ‘check before you buy’ by seeing a partial set of your data or by running a query to see if a specific business is in your selection before you purchase, giving you that final peace of mind that you’ve got the right list.