Subtitle: How to identify Your High-Value Prospects-Before You Run a Program
Published by/Authors: Dan McDade CEO of PointClear
Gated: Yes – a small gate
Length: 19 Pages
This eBook is about the return on investment of a marketing budget and growing your business. How this is done is a guide to database segmentation, prioritization and testing which can be applied to find the prospects most likely to buy, as well as those who will generate larger deals.
Why it Matters:
"Dan McDade gets to the bottom line quickly making the statement that you can expect an increase in your results by 140% without increasing your budget."
He says people don’t use a predictable targeting approach because they think it is hard to do, they don’t know better or they believe they already know which segments are in their sweet spot. Poor targeting, the author says, results in enormous costs and wasted resources with a meager return on investment. This short treatise is divided into four steps:
Step 1: Define the Prospect Universe. How large is it? Can it be segmented?
Step 2: Segment your Markets to prepare them for testing. Don’t fall into the trap of going as large as possible. Be specific about the types of companies in a market place that will buy your products.
SLMA comment: As an example, for instance, I translated this to mean for a product in healthcare:
- Hospitals or physicians?
- If hospitals what size range of hospitals by beds?
- Small hospitals: Fewer than 100 beds
- Medium hospitals: 100 to 499 beds
- Large hospitals: 500 or more beds
- Type of Hospitals
- For Profit
- If physicians:
- Are the doctors in private practice or employee type doctors?
- Are the doctors in general practice or specialty practices?
- What specialty are they in?
As you can see if you didn’t segment hospitals you could be reaching out to 5600 in the U.S. when you may only need to reach those over 500 beds. As for physicians there are over 500,000 in the U.S. covering dozens of specialties. Maybe you only need to reach out to one or two specialties.
Step 3: Contact your Segments. Test the segments, the right list is as good as gold. This is the largest part of the eBook and probably the most important. McDade discusses two issues most companies deal with regarding lists and cleaning up in-house lists. The cleanup they say shouldn’t be limited to cleanup but also to segmentation. There is a section on how the cleanup initiatives impact results.
Step 4: Analyze your Results. Determine which segments have the highest lead rates. Dan talks about validating results, the value of continued testing and understanding the segments that are the best performers.
This is the most succinct, to the point description of database creation and results measurements I have read. McDade knows what works and what doesn’t.
Why it’s Important
“Dan McDade’s eBook, How to identify Your High-Value Prospects-Before you Run a Program, doesn’t just tell you what’s wrong with your marketing approach to lead generation but also what to do about it.”
- C-Level Folks
- Marketing Operations
- Content Management and Creation
- Product Management
This review was conducted independently without the advice or consent of the publisher. Of course, we only review those papers that are worth it for you to read, we leave the others to someone else.
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