Are lists for cold calling and direct marketing only?

When people talk about buying and making lists of prospects isn't that so they can cold call or market directly to the people on those lists? That's like a 1-3% positive response rate right? All of the talk about targeting your prospects and targeting your offer so you can get a 1-3% positive response?

Originally Posted by realtor When people talk about buying and making lists of prospects isn't that so they can cold call or market directly to the people on those lists?

Yes.

Originally Posted by realtor That's like a 1-3% positive response rate right? All of the talk about targeting your prospects and targeting your offer so you can get a 1-3% positive response?

For direct marketing purposes, your response rates will depend upon a number of factors, such as the quality of the list, quality of your offer, frequency of touches from your campaign, and how targeted it is.

If I'm selling, let's just say, anti-baldness medication, I'll get a much better response if my list is balding men, than if my list is just men (or men and women). I'll get an even better response if my list is balding men who can afford to buy medication, and it will be even better yet if my list is balding men who can afford to buy medication and have paid for medicine in the past.

All other things being equal, your response rates for calling should be far better than for direct mail, assuming your cold calling skills are adequate or better than adequate. In general, salespeople are better than mail at selling things. There are exceptions, of course, and many nuances to both direct marketing and cold calling.

I really want to be clear about this so please humor me on this one question - those lists are for cold calling and direct mail? Are there any other common uses for those lists?

Originally Posted by realtor I really want to be clear about this so please humor me on this one question - those lists are for cold calling and direct mail? Are there any other common uses for those lists?

Cold-calling in person or door-to-door visits could be added to your list. Other than that, I think you've got it covered.

Anybody else have any feedback for realtor on this topic?

Originally Posted by Skip Anderson Cold-calling in person or door-to-door visits could be added to your list. Other than that, I think you've got it covered. Anybody else have any feedback for realtor on this topic?

Thank you Skip. Anyone else with feedback?

To be extremely clear, there are two types of lists. Those who are SUSPECTS or suspected prospects, and those who are PROSPECTS or qualified prospects.

The acquisition of a list automatically makes those names SUSPECTS. They may be poorly targeted, as in they are not "premature balding men" and you sell "hair replacement" but they are both suspects.

Adding names from being in your territory or "on the road" when you meet someone or getting a referrals all get added to the PROSPECTS list, the list at the other end of the pipeline from SUSPECTS, as do responses from direct marketing; those who qualify themselves through ad/marking response. A prospect is qualified to some degree by CONTACT, be that marketing or selling, as in a telephone prospecting call.

The only other valuable use of lists is demographics and statistical analysis. And since most sales people are not going to spend time on serious statistical work, I beleive e need not enter into such a discussion here.

I had a real estate agent call me on the phone two nights ago telling me they just listed a house a block away, did I know anyone who might want to move into the area.? After my "Non
" he asked did I know anyone who might want to LIST? This is the first time I have ever been contacted that way by a real estate agent!

It is possible to buy consumer lists that targeted. However, it is also possible to make a much better approach than the one that was used on me, not that this example was bad, it just wasn't great.

A different approach would have been to say "The reason why I called was to let you know that right now is perhaps the best time in recent history to move or move up, due to prices I am getting locally for homes, your area is in demand and that means you could profit from a well timed sale of your house, would you like to get together and talk about this?"

If the answer was no, should the agent leave/hang up?

Why not ask one more question? Can you guess what it is? How about; "If now is not a good time to relocate/sell/buy perhaps I can stay in touch and get back to you when you may be interested in doing that, when would be good to give you another call Mr/Ms ____________ ?"

Through this added effort, the agent could have created a PROSPECT, albeit for months or years in the future. But a prospect nonetheless. Then that prospect list can be on auto pilot, letters and offers and Christmas gifts and a call now and then. That would increase listings over a long period of time. And quite dramatically.

That is what the prospect list is for and why you need to build it. Of course, a simply by the way, at the end of the conversation, could generate other styles of profit, ahh, but that is more advanced still.

I can use that script it is very good and thank you for explaining lists. I'm stoked about using this.

I post quickly two or three times a day, rarely taking time to proof what I write. On occasion I review and notice I did not quite get it right, this is an issue of time pressures.

This script;

"If now is not a good time to relocate/sell/buy perhaps I can stay in touch and get back to you when you may be interested in doing that, when would be good to give you another call Mr/Ms ____________ ?"

Is much better like this;

"If now is not a good time to relocate/sell/buy perhaps I can stay in touch and get back to you when you may be interested in buying/selling/relocating that, when would be good to give you another call Mr/Ms ____________ ?"

Understand, you do not know which word is correct - buying/selling/relocating - unless you have a dialog and the FUTURE CLIENT tells you what is on their mind.

Scripts is my bag, as you might be able to tell. The MySalesTrainer product contains everything you would ever want to know about what to say to prospects. Takes a year to go through it but, you can get a sample at the site below. My purpose is not to sell you but I would like you to have more information.