Understand customer prospect databases
A customer prospect is a potential client. Businesses always need to find as many customer prospects as possible to grow bigger.
Customer prospects should be kept in an organized way so that businesses can understand, segment and target the right groups for maximum conversion.
Most businesses keep a record of customer prospects in a CSV file or a customer retention management tool (CRM). For enterprises that process a large number of customer prospects and tons of information about them, there’s a need to operate a customer prospect database.
In other cases, professional data providers usually provide accessible customer prospect databases to their clients with various tools and features to help them get the data that they want.
What do customer prospects databases do?
A customer prospect database can be very beneficial for a business. If your business has a lot of data about potential customers, you probably need to design and build a database that is manageable and accessible whenever you need it.
However, most small and medium-sized businesses don’t really need a prospect database to manage the data. Instead, there’s a much bigger need for them to generate excellent customer prospects.
Customer prospects databases as data providers can help businesses generate excellent prospects fast at a very affordable price.
There are many prospect databases on the Internet but finding a great one is not as easy as you may think.
Since every prospect provider claims to be the best on the market, the reality can be very different. The only way to find out if they are as good as they advertise is to give them a try but do so with a strategy.
When it comes to trying a service, you look for ways to minimize the risk of losing money. Try a prospect database if they offer the following:
- Free trials
- No credit card is required
- Excellent support
- Refund policies
- Discounts for first-time clients.
At Limeleads, a leading B2B leads provider, we offer all the above-mentioned and more. We make sure you’ll have a risk-free experience and be a partner to help you make the most out of your lead generation effort.
If you need anything else, do not hesitate to contact us at [email protected] or via our live chat support, we’re happy to help you with anything.
How to get the most out of a customer prospect database?
Now that you have a sizable list of good prospects, what should you do next?
The main purpose of getting prospects is to turn them into leads. Leads are potential clients who show interest in buying your products or services.
There are a few ways to reach out to prospects and turn them into leads. Read further below
1. Cold emailing
Cold emailing is the most common strategy to reach out to prospects and turn them into leads.
Cold emailing is a process of sending out emails to people that haven’t known about you (prospects) to make them interested in what you have to offer.
This strategy is one of the most effective ways to generate leads from a list of prospects. While it has many advantages compared to outreach methods, it also has some disadvantages that you need to be aware of
Cold emailing pros
- Can reach thousands of prospects quickly
- Relatively easy to start
- Much less annoying compared to cold calling
- Email automation is very helpful
Cold emailing cons
- Can be complicated when running on a large scale
- Can tarnish your domain if it’s not done properly
2. Cold calling
Cold calling is one of the oldest forms of outreach strategies, it dates back to the time when the telephone was invented.
Cold calling has many disadvantages compared to other outreach methods, however, many companies are still relying on it for lead generation.
If cold calling works for you, it usually has a good conversion rate compared to other methods. Below are pros and cons of cold calling that you should know about
Cold calling pros
- Cold calling process usually isn’t complicated to start
- It can have a high conversion rate depending on your niche and what you have to offer
- Cold calling is great for outreach with high personalization
Cold calling cons
- Annoying to the receivers
- Can be expensive when running on a large scale
- Reach prospects slowly compared to email marketing and paid ads
- Doesn’t work effectively for most business models
3. Paid ads
Instead of targeting a large audience on popular platforms such as Facebook, Google, Youtube, Twitter, etc, you can target a custom audience that uses the email addresses obtained from a reliable B2B leads database.
Then, the ads will show up in their news feeds (social media platforms) or search result pages (Google, Bing, etc) time and time again to entice them to take an action.
This is also called hyper-targeting by many marketers. It can be very effective especially when you can ensure the accuracy of your prospects.
Hyper-targeting with ads pros
- Target very specific prospects for the highest conversion rate
- This can be a complex task for beginners
Hyper-targeting with ads cons
- Running ads is often expensive
- When you stop ads, you’ll stop getting leads and clients.
Utilizing a good customer prospect database is very beneficial for your business’ lead and sales generation effort. There’s one thing you should always pay close attention to ensure is that the database provides high-quality prospects, otherwise, you’ll only waste your time and investment.
Regarding the outreach strategies to turn prospects into leads and clients, we recommend focusing on email marketing because it’s the most affordable and fastest way to get in touch with prospects.
You can also try the other strategies to see if they work for you but do so moderately because they tend to be more expensive.
If you got stuck anywhere in your lead and sales generation process, do not hesitate to contact us at [email protected] or via our live chat support, we’ll try our best to help you!