Strategy Why You Should Rent Your Customer List (1,130 words)
Renting or exchanging names with competitors is common among consumer catalogers. Generally speaking, consumer food, apparel and hard goods categories do exchange names. Most often, the competitors you exchange with will be your best-performing prospect lists. If you can get good names, it is recommended that you exchange with your competitors. The rule I like to follow is this:
Only exchange with those companies when you can also benefit from using their customer list.
Exchanging names with competitors is not risky as long as you too can benefit from this reciprocal arrangement.
Stephen R. Lett is president of Lett Direct Inc., a catalog consulting firm. Lett is on the faculty at Indiana University, where he teaches direct marketing at the MBA level. He can be reached at (317) 844-8228 or by e-mail at email@example.com.