The Three B’s of Getting a List of Prospects

A business without a list of prospects is a business in trouble. Getting people to sell to can be one of the biggest challenges you face as an insurance agent or financial advisor. However, there are three ways you can get a list of prospects.

First, I’d like to make one thing clear. The purpose of any lead generation system is to produce a list of prospects that are ready to buy now or soon to be ready to buy. If you focus on prospects like these, qualified prospects, you can’t help but make money. In contrast, if you focus your time and energy on people who aren’t ready to buy now or ready to buy soon you will go broke no matter how hard you work.

When it comes to building a list of prospects there are three ways to get that list.

The first way to get a list of prospects is to buy the list. In reality you are renting the list. There are a couple challenges when it comes to buying a list of prospects.

The first challenge when it comes to buying a list is the fact you can only mail the list you rent one time. That’s why if you rent a list it’s extremely important you follow a two-step process. For the first step your goal should be to do nothing more than generate a qualified lead. Once the prospect responds to your offer then that prospect is on your list so you can mail them as often as you like.

The second challenge with renting a list is the fact you probably don’t know a lot about how lists are generated. You probably don’t have a relationship with a list broker who will focus on helping you rent the best list. Unless you do you probably won’t rent a good list.

Finally, you are required to rent a minimum of 5,000 names when you rent a list. That’s a big problem for two reasons. First, unless you have a tested and proven piece you should never drop 5,000 pieces of anything. Second, unless you mail all 5,000 names you really can’t measure how good the list is or isn’t.

The second way to get a list is to borrow a list. For example, if a local business owner had a list of clients that business owner might let you mail something to their clients. As you may have suspected there are some challenges with borrowing a list too.

First, you might be amazed to know how many business owners do not have a mailing list for their clients. Second, unless you have a client list of equal size most business owners won’t allow you to mail to their clients in exchange for allowing them to mail to your clients. However, some will allow you to mail to their clients if you mail an offer as a ride along in something the business is already mailing and you pay all the postage.

The third and best way to get a list of qualified prospects is to build the list yourself. To build your list set up your own lead generation system to capture and qualify your prospects. Once you have your system in place you will always have quality prospects to sell to.