The Importance of Building an Effective Prospect Database

Building an effective prospect database is a key component to grow your customer base and generate leads. While many business-to-business (B2B) companies have figured out that creating a central marketing data warehouse can help them handle existing customer relations, there is still a lot of work to be done when it comes to prospect database development.

Unlike a customer database, a prospect database consists of non-customers, or people you would like to acquire. It is an organized archive of your potential customers which is qualified based on various benchmarks such as target industry, location, and other demographics. Understanding the fundamental structure and purpose of your prospect database is important before you start adding data.

How to Build An Effective Prospect Database

When building an effective prospect database, the first thing that you need to do is to establish your targeted new prospects. After that, you can use any of the listed tools below to build your prospect database:

Third-party mailing lists

An effective way to generate new contacts is by using a third-party company that will help you send emails on your behalf to their data. Basically, you’ll pay for each contact that is generated and the contacts in the database will be opt-in so you’ll be abiding by email laws.

Social media

Did you know that 82% of the world’s population has a social media account?

This means that social media platforms such as Facebook, LinkedIn, Twitter, Google Plus, etc are excellent tools to look for potential contacts for your database.

Events

As one of the oldest methods of generating new contacts, exhibiting at events is still an effective tool to grow your database. Generally, you can request a list of all of the guests to get all the details of the people who talk to you on your stand.

Directories

Online directories such as Yelp, Manta, Yellow Pages, etc are the most popular tool to capture lead prospects when building an effective database. Simply use filters to sort out your target industry. 

Marketing content

Another way to build an effective prospect database is to create unique, thought-provoking blogs that have some sort of data capture. These contacts are more engaged with you as they’re providing their details through your website in return for your content.

Purchased data

The most common way to build a prospect database is to purchase a targeted business-to-business B2B list. You will pay per contact and that cost surges depending on how segmented the data is.

Once you have gathered your targeted contacts, segmenting them into similar groups and profiling them appropriately are two critical steps that you need to do.

The Benefits of Having an Effective Prospect Database

Having an effective prospect database is probably one of the best methods of generating leads and driving more sales and revenue. Here are some of the benefits of having this list:

A reliable source of data

One of the benefits of having an effective prospect database is the assurance of having a reliable source of information on your targeted prospects. The data from your prospect database plays a critical role in establishing good relationships with your potential customers. The more you know about your customer, the better interaction might happen.

Proper segmentation of contacts

With your prospect database, you can easily organize contacts in different categories based on their input. Also, you can quickly remove unwanted contacts from your database which is essential for achieving customer growth and satisfaction.

Boost customer support service

Without an effective prospect database, your team might become inefficient and inconvenient to your prospective customers. By having one, you are assured that your team has all the necessary information about your targeted market – meaning they can quickly determine the customers’ behavior and answer their concerns.

Furthermore, many companies handling call center for customer support are now building an effective prospect database to help them boost their customer service and drive sales.

Why choose Markable Solutions for B2B prospect email database?

For custom target prospect list, our rates are highly competitive. We also frees up your inside sales team for prospecting rather than contact list development. Request a quote for prospect list development : Try it