You’ve got a list. What should you do with it?
Understanding demographics is crucial for entrepreneurs as they strive to connect with their buyer personas through the power of lists. Entrepreneurs try to find the buyer personas that will be most receptive to their product offering. They attempt to target specific customers and to identify those customers’ interests with precision. Entrepreneurs know that they can improve the odds of reaching potential clients by leveraging the power of lists.
Let’s look at an example from when I used to sell health insurance. Throughout the year, there is only one time during which anybody can switch health insurance, and that is between October 15th and December 7th. Enrollment outside of that standard period is possible only for a very specific group of people that have a special enrollment period. (Currently, with the Affordable Care Act, sometimes there are extensions to that standard enrollment period.) People who are aging into Medicare and who are just turning 65 years old are eligible to switch health insurance outside of the standard period.
Understanding Buyer Personas
Therefore, my buyer persona would be 64-year-olds who are about to turn 65 in the coming two or three months. I would leverage the power of lists by filtering the search to people from the age of 64 to 64, and narrow the results to people who are about to turn 65 in the upcoming months. I was particularly interested in that specific age demographic, although I would also look at other demographics such as income per year and net worth.
You can leverage the power of lists at all times to reach your buyer personas. Let’s say you have an expensive home improvement product and you need to target people with high net worth. You can use the lists to filter for people who can afford your luxurious product by narrowing down the search to certain ZIP codes, such as 90210 (Beverly Hills, California).
Focusing Your List
You can find out what type of mortgage they have, and how much they owe on the mortgage. You can find out what type of AC they have and what fuel type they use. You can filter for older houses built in 1946 or 1973, since chances are that these people are in more need of repairs then those who have a more recent house that was built in 1998.
Why buy a lead for $30, $40, or even $50, when you can significantly reduce your costs by leveraging the power of lists! You can take more risks and contact more people because the cost is so low. Remember the incredible VALUE of list marketing. Yes, you need, to cultivate the many names on your list to convert them into actual leads. You need to reach out to them multiple times in multiple ways to make sure your message breaks through. But at the end of the day, lists are precise and inexpensive.
Eric is The List Broker, an Orlando-based marketing expert with unique authority in list marketing. His blog posts offer insight and observations that will empower your marketing efforts.