List Primer Part III: Selecting The Right List Brokerage For Your Offer
Next, ask for the broker’s best recommendation, but in a very specific way: “If you were my client, which lists would you use, and why?” After all, a little accountability goes a long way!
One list broker I used a while back also sent me information it tracked at the time on catalogers in my client’s category, how many times the competitors’ catalogs got mailed, timing and seasonality of their mailings, and what special offers were used. That all gave me a pretty good landscape of the market my client was mining.
Another time, I received a market survey of all of the catalogs (and other mailers) in a specific niche, as well as estimations of the size of that niche, based on the circulation figures of these catalogs. This gave me a pretty good overview of the total universe of names that the client had available to potentially acquire. From this information, I was able to build a projection model to estimate the size and pace the company could grow to.
Although it may seem obvious, also take into consideration the quality of the relationship you develop with your broker. Bear in mind that 40 percent of the positive and/or negative impact you can have on your direct marketing business is based upon the lists you choose. So make sure you choose a broker who’s willing to be your partner in your success, and not just another vendor in your mix.
Next week, we’ll discuss how to take all of the info you get from your broker and turn that into an action plan.
Speak to you next week.
Jim Gilbert has had a storied career in direct and digital marketing resulting in a burning desire to tell stories that educate, inform, and inspire marketers to new heights of success.
After years of marketing consulting, Jim decided it was time to “put his money where his mouth was" and build his own e-commerce company, Premo Natural Products, with its flagship product, Premo Guard Bed Bug & Mite Sprays. Premo in its second year is poised to eclipse 100 percent growth.
Jim has been writing for Target Marketing Group since 2006, first on the pages of Catalog Success Magazine, then as the first blogger for its online division. Jim continues to write for Total Retail.
Along the way, Jim has led the Florida Direct Marketing Association as their Marketing Chair and then three-term President, been an Adjunct Professor of Direct and Digital marketing for Miami International University, and created a lecture series, “The 9 Immutable Laws of Social Media Marketing,” which he has presented across the country at conferences and universities.