Everything to Know Before Buying an Insurance Prospect List

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While traditional advertising methods like billboards and magazine ads can save time, it can be difficult to track real outcomes. Direct marketing is often the best way to reach potential buyers in a tangible manner. Learn how to make direct marketing successful.

Find an knowledgeable mailinglist broker that can be found anywhere in the United States. Mailing list brokers act as your guide and provide relevant lists of potential clients who are interested in the insurance product that you offer. You can request to narrow down information based upon income. You can ask for information based on income, household ownership, age, and children.

Mailing list brokers provide contact information for people at work or at home so that you can market to them. They can help you find consumers or businesses that have purchased products or services similar in your niche or are within your money range.

At least two of the five major national consumer databases must be available to your list broker. Mailing list brokers most often acquire their lists from major mailing list owners. These list owners have vast databases that contain information about millions of customers. These “compiled lists” are filled with data from many sources.

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Others mailing list owners have more targeted databases that contain detailed information from specific people who have asked about a product or service. These “response list” can include people who buy or sell a particular product or prospects in the desired occupation or field.

While list brokers cannot guarantee the number of insurance leads that a mailing list will generate for them, it is important to know how many names actually reach the intended recipient. To keep their mailing lists current, list owners add new data to the database and remove outdated information. Industry standards for deliverability are approximately 90 percent, with high turnover businesses closer to 85%.

Depending on the market segment you are trying to reach, list brokers can provide both business and consumer mailing lists. Information from government offices and public business directories can be used to compile business listings. The consumer lists are compiled using both public and private information, as well as those that the list compiler might have connections to.

REFINE YOUR MAILING LIST AND TARGET IT

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A public record list could contain a million names. Therefore, you want to narrow down your search to a small number of people. Mailing list brokers offer many methods to target specific demographics. A unrefined mailing list can be cheaper than a more refined one, but it may cost more over the long-term due to poor response rates and deliverability of around 70%.

You can narrow down business-to-business lists by selecting a SIC code, community or city, or even a mile radius. Career status and past affiliations. A consumer list can also include information about buying history, family income and location.

Your list will become more targeted and refined the more category filters you choose. Targeted mailing lists are more likely to provide prime leads and offer the highest return on your investment. Specific targeting comes with an increased cost. This means that you will pay more per name. Do not buy a list just because it is cheaper overall. Why? It only takes one quality lead from a targeted customer to increase your profits.

No matter what type of mailing list you choose, remember that they are the property of their owners. You are renting a list, not buying it when you purchase it from a broker. A mailing list is typically rented to you for a single selling campaign. You might rent the list for a second purpose.

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DECIDING WHAT MAILING LIST COMPANY TO US

A mailing list broker or compiler can help you choose the right list. List brokers will help you narrow down the potential clients by using the many options available to target markets your search. Look for a list broker who has worked with customers that target the same type of customer as you. These list experts know what works. An honest broker of mailing lists is not looking to make quick sales. It may prove difficult to create a mailing list if your requirements are too narrow. A broker or owner of the list will help you expand your search to find an effective one.

Many brokers don’t offer design or mailing services. Instead, they recommend full-service companies that can help you get your materials to your clients. There are some list brokers who can help you with the details. To get a decent return rate, your mailing must have distinct values. You may be able to get a discount by contacting a medium-sized printing house. Referred mail houses will not charge $100 an hour for the design or analysis of your mailing piece.

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The cost per thousand impressions (CPM) is the standard pricing for compiled mailing lists. A typical order will have 5,000 to 10,000 names with a cost per thousand impressions of $100 (10c per name for consumer records) and $160 to $300 (16-30c per name for business concerns). No matter the size of the mailing list, a minimum charge is $500 for brokers who handle mailing lists.

Direct mail is the most widely used form of business to business and business-to consumer correspondence. Mail is a common medium of communication for almost everyone. However, there is no guarantee about how many leads or sales you will generate. Each case is different and success depends on the quality and effectiveness of your direct marketing campaigns.