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I can use various sources (eg Apollo, Lusha, Sales Navigator, third party list providers, etc) to generate a list of leads within a geographic region against a customer profile / business type. Generally I have no idea about how comprehensive or up to date this list of leads is.
For example if I want a list of all the sports stores in Boston, how do I know if the list I get from any list provider has captured 80% or only 30% of all the stores currently operating? Also, how many are bad / old data?
ProspectSafari promises to get close to 100% coverage with very little old data. How is this possible and why is this important? Why is a complete list of clean leads (100% coverage) better that a clean list of leads of unknown coverage?
The reality is that you have no way of knowing how comprehensive a list is unless you know how it was built.
Most providers (Apollo, Lusha, etc) have a database that is dependent on sources like Linkedin. This has better coverage for large (enterprise) businesses but still only covers about 50% of the target market and about 80% of the “leads” will be outside the true target. Performance on small or niche businesses is generally less than 10%
Whether you are selling to niche businesses worldwide or specific businesses types locally, it is very useful and important to work through a prospect list that represents ALL businesses that match the ideal customer profile within a given location.
You can break the list down into smaller lists each covering a specific business type and location, but each list should represent as close to 100% market coverage as possible.
From this starting point you can categorise and prioritise into groups for specific sales or marketing actions (or no action), but you will know that this is the total market.
This allows you to plan your campaigns and make evidence-based forecasts about similar campaigns in other locations. It also means you have given yourself the best possible starting list.
Furthermore you now have a database of ALL of your target market in the region. Putting in place a low-cost nurturing campaigns on this database will generate 3x the leads over 2-3 sales cycles vs a single sales campaign.
So for larger businesses, the combination of 2x coverage (100% vs 50%) and the above nuture campaign will boost sales results by up to 6x.
If you are targeting small, local businesses or niche business types then you have additional challenges.
There is far less data available for small businesses and much of it is unreliable.
A list of small businesses in a given location needs to be freshly sourced from public / open sourced data that the business itself contributes to and keeps current.
The marvellous variety of small businesses, each seeking out their own niche and differentiator, makes classification by business type often quite tricky. Complex search algorithms leveraging company descriptions are often required in order to assemble the correct prospect list.
If the business has a website then that should be freshly scraped looking for specific data of interest, as this too can be assumed to be current.
Some CRMs offer lead generation within the same platform, but these generally are designed for enterprise business sales. They are both expensive and very poor at providing small business data, typically covering less than 10% of the market.
ProspectSafari has excellent coverage of small / local / niche businesses around the world and includes lead generation for a very low price. By interrogating public access data in real time rather than relying on an outdated proprietary database, ProspectSafari gets fresh and complete data every time.
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