Latest BizTip Q + A - how to get a mailing list

I regularly get questions from business owners. Unlike other advisors I know, I don't always charge for my advice. Every now and then I'll post one of my answers onto the BizTips page at my website. Here is the latest question and answer...

Paul P. asked:
I'm starting my own business, and all I want to do is buy one mailing list of one-family homes valued at $250,000 and up, in Louisville, Kentucky. Everyone wants to sell me some kind of package. Lost. What can I do?

Answer:
As I'm not in your area I can't tell you exactly what information is available. However, from my experience that sort of detailed/matched information will only be available if it has been specifically collected previously by a commercial organisation or research company. General government census data doesn't usually match data like the family type with a specific home address (within a specific range of value).

I don't think you should have to buy a 'package' of data but the list you want may be quite expensive, as far as lists go, because it is for upper income households, and must have been pre-qualified (i.e. checked) to make sure the family and home value status match.

Check around for 'list brokers' who may be able to provide what you want. Ask them what they have. They may be outside your area but have suitable list for you. Prices are usually quoted per 'record' (which is per name). Check how recent the list is, and how often it is used (maybe it is over-used and recipients are sick of getting mail?)

As an alternative, why not target tight geographic areas where the home values match what you need, and start a promotional program to attract the right type of client. Your promotional/marketing plan could include the following (Note: I don't know what you will be offering, so not all ideas may be equally suitable):

* Leaflet drops
* Advertising in local papers
* Editorials in local papers based on a news-worthy story you can offer.
* Sponsoring suitable events in the area.
* Speaking to local groups (maybe Rotary, business, special interest groups)
* Website, with key words targeting the area and what you are offering.
* Joint ventures with existing businesses who already have those types of clients you are targeting:
- mail outs
- seminars
- advertising
- email newsletter advertising
- reciprocal links on website
* Building referral network based on building a relationship with the referrers.

Hope this gets you thinking!

All the best.
Stuart.

Starting a conversation with someone you don't know.

For any service business it is hard to avoid the fact that your personal ability to communicate is a huge factor in your success. After all, your clients, prospects, and referrers all need to trust you. And to trust you they need to like you - and have some understanding of who you are.

Creating conversation is at the core. And it is nowhere more important than when you are 'networking'.

Now don't cringe when I say 'networking'. The art of making conversation with people is essential. It doesn't matter whether you call it networking or just plain being friendly.

In this article by Penelope Trunk there are some excellent points made about creating conversation with people you don't know (yet).

"You don’t need to be extroverted to be a great conversationalist; you need to care about other people."

Penelope highlights an interviewer who always finds something to talk about with the interviewee, even when she doesn't know about the field they work in.

Read the article - it's worth it.

Penelope sums it up by saying...

"Of course, in order to practice this you have to open yourself up for some awkward situations. But there is no way to grow without being awkward at first, so try it."

If you ask me, that is excellent advice.

Should eBay fit into your marketing plans?

It's been a little while since my last post. Sorry about the absence. I saw an article today that caught my attention. This article by Rob Lewis at BusinessZone (UK) gives us a glimpse of what is required to make it big as an eBay seller.

Even for service providers, eBay may provide a viable outlet for selling informational products such as CD's videos, training material, and reports. eBay can also be used for research - testing price points and interest levels.

However, as mentioned in the article... "The biggest investment eBay beginners will have to make is time. Expect to do a lot of wrapping, posting, and making mistakes."

The biggest drawback is the squeeze on margins. After all, that's why most people go to eBay. To get things cheaper than they would elsewhere. And the article concludes that for businesses who are serious about online sales, getting their own website for direct selling is the ultimate goal.