AGENCY MARKETING TECHNOLOGY
Tap these Web sites when you're looking for leads or information about prospects
By Steve Anderson
There are any number of online lists and databases available in almost numbing variety and detail--and most at a reasonable cost
New business is the lifeblood of any agency. Although it's important to retain existing clients, if an agency doesn't look for new prospects it's going to be in trouble. The Internet has made life simpler for agency marketers by providing an easier way to identify just the right prospect and help agencies develop a good prospect list.
Let's say you want to sell that new policy for welding distributors that one of your companies has developed and you need to identify the potential prospects. Someone somewhere has created precisely the sort of business information database you need, and the owner of that database is willing to sell you the names of all the welding supply distributors in your area. Indeed, there are any number of lists and databases (the latter term is basically a "gussied up" version of the former) available in almost numbing variety and detail--and most at a reasonable cost. There are lists of almost every conceivable description, affiliation, and category. All you have to do is figure out where to find them.
For business databases, there are basically three sources of prospect names. List compilers such as Dun & Bradstreet and R.H. Donnelley essentially cull every business in the country from various sources, including telephone directories and yellow pages, and then try to verify and expand those data from at least one other source. And that's a lot of compiling because, depending on how you count them, there are more than 10 million businesses in the United States.
List managers will sell names gathered from magazines, newsletters and other sources where someone has a list of customers. Lists such as this are known as responsive lists because each person on the list has responded to an offer in some way. These generally are very targeted lists and cost more than a simple compiled list. Most of the time they are worth the extra money because you know that the people on the list fit the profile of the type of prospect you want.
The last source is from federal, state and local governments. These lists are generally free or next to free and again can be highly targeted to a specific business. The main problem is that they are hard to locate.
Putting the list to work
A number of years ago we developed a marketing plan for an Emergency Medical Service (Ambulances) Program for the State of Texas. When we began looking for prospect names we called the state government offices in Austin. They directed us to the Texas Department of Health. After talking with several people about what we were looking for, we learned that the department had available a list of every EMS provider that was licensed in the state. We purchased the entire list for only $27.50. It contained 1,300 names. We narrowed the list down to the 350 prime prospects for the program and used them as the basis for a very successful marketing program. The list was not in an electronic format so the only other cost was the expense to type the names into the database.
Another source for prospect information is the Securities and Exchange Commission's EDGAR database (www.sec.gov). Every public corporation is required to file a report, known as a 10-K, with the SEC at least once a year. The EDGAR database contains every report filed since 1996. The 10-Ks provide extensive information about a company, including detailed financial information, descriptions of products and services provided, listings of executives and key staff and a discussion of problems and issues the company faces. If your prospect is a public company, there is no better source for information about the company than a 10-K. And it's all free.
Government agencies are a good source for lists of any prospect that is licensed by the state or has to register with the state. It sometimes can take some effort to identify which agency or department has the list you are looking for, but results can be worth the effort.
Not too many years ago we used to purchase business lists on CD-ROM. Today those same lists are immediately available to you to download from the Internet onto your computer. Here are a few Web sites that provide prospect lists you should know about.
ThinkDirectMarketing.com--This site provides information, products and services to help businesses succeed at direct marketing. A key part of the site is a subscription-based prospect list source. For an annual subscription fee of $195 you can access current consumer and business listings. The database contains 130 million consumer and business names and addresses. You can search for businesses by standard methods such as name, ZIP code, SIC code, etc. The list you create can be downloaded into virtually any type of marketing database you are currently using. You can download up to 20,000 names annually. The database is provided by Acxiom Corp. and is updated continuously. ThinkDirectMarketing recently added a new service that will actually send your mail for you.
InfoUSA.com--This site is similar to the one above in that it provides access to prospect information for both businesses and consumers. Pricing is based on the specific list you select. After you complete the selection process you will be given the price, based on the number of prospects and the amount of data you want to purchase.
CorporateInformation.com--Even though this site looks intimidating, it is actually a simple and powerful search tool you can use to research an individual business or an entire industry. The site is free and you don't even have to register or set up an account to use it. Research a company and you'll be provided with numerous links to corporate profiles, news archives, financial information and message boards dedicated to that particular company. Research an industry and you'll be led to industry profiles, news and more. Research reports are available and you can limit your research by state or by country.
Dun & Bradstreet Small Business Solutions (http://sbs.dnb.com)--Dun & Bradstreet offers an intriguing suite of tools and services to small business owners. Tracking folders allow you to follow existing customers, suppliers, competition, and prospects. Basic services are free, which include up to 15 "tracked" companies. Additional services such as credit evaluations or demand letters are fee-based, but quite reasonably priced. D&B also will compile a list of new, credit-screened prospects for you, by location or by industry, for less than $1 per record. At the site, you'll also find the results of the latest D&B Small Business Survey.
Hoover's Online (www.hoovers.com)--Hoover's is known for its in-depth coverage of companies and industries, accurate lists of key decision makers, and powerful searching and targeting tools. The information is compiled from thousands of sources, including various proprietary databases, magazines, newspapers, and industry journals. It contains coverage on more than 12 million global companies, both public and private, and more than 300 different industries. With their online tool you can search for information on your next prospect.
LeadBot (www.leadbot.com)--a Web-based provider of life insurance leads. LeadBot has developed a proprietary business system that automates the collection, distribution, marketing, and storage of self-qualified prospects. The leads come from a network of consumer-facing Web sites that deliver insurance information to the public. The prospects that agents receive have reviewed insurance material and have requested a quote for coverage. In addition, LeadBot has relationships with other large lead generation corporations to buy and sell leads.
The Internet has made it easier and dramatically less expensive to find good, qualified prospects so that you can achieve your sales goals.
The author
Steve Anderson has been a licensed insurance agent for more than 20 years. He is president of steveanderson.com, Inc., which provides products and services that help agents maximize profits using commonsense technology. He can be reached at (615) 599-0085, or e-mails are welcome at steve@SteveAnderson.com. For more information, visit his Web site www.steveanderson.com.