When marketing and selling to Corporate Training and HR, you are always looking for better ways to find quality leads. You might attend trade shows,
network via LinkedIn, and/or purchase marketing lists from time-to-time.
But – if you purchase an INEXPENSIVE list of contacts – you may actually be using THE MOST EXPENSIVE way to source quality leads.
Although buying an inexpensive list may appear to be a cost effective option to secure lots of prospects for little investment, this is probably the worst way to source new leads.
Why? Well, that “inexpensive” list probably contains generic, outdated information, gathered by simply compiling other old lists of data. (Why else would it be so cheap?)
The result? Bad data. And bad data can create two costly issues for your sales reps and your business:
- LOST TIME: Your well paid, professional sales reps are now forced to WASTE their valuable time and energy wading through all that bad data, trying to find any prospect worthy of a conversation!
- LOST SALES/OPPORTUNITY: If your reps are wading through poor quality data, they are NOT spending that time speaking with qualified decision makers, nurturing valid leads, or managing current accounts. This is a huge issue, created by purchasing inferior lists.
In the end, that “inexpensive” list may end up costing you more than three times the cost of a high quality list, due to the time and energy wasted slogging through it.
Did you know that on average, the time spent drilling into corporate training organizations “in search of” the right contact breaks down like this:
• 75% of the time is spent LOOKING for the RIGHT person, and
• Only 25% of the time is spent actually communicating with them
So – how much money might you be wasting? Well, let’s run some numbers and see:
- Assume you are paying $42* per hour to your sales people.
- You know that hunting around for decision makers is not $42/hour work – it’s $14 per hour work!
- Why pay TRIPLE the cost for this work? Paying someone $42 per hour to do $14 per hour work just doesn’t make sense. (But, if your reps are using poor quality lists to find the “right” people to talk to, this is exactly what you’re doing.)
- Consider this added factor of loss: Every hour that your $42/hour rep is NOT doing the important work (like talking with real decision makers), it is COSTING you money!
- This can all add up to countless dollars per year in lost sales opportunities.
(*Assumes an average sales rep cost of $87,500 per year in salary and benefits.)
Now, let’s take this wasted-time calculation one step further:
- Assume your rep spends 50% of their time prospecting (20 hours/week).
- Assume that 75% of THAT time is spent searching for decision makers (15 hours/week).
So, how much money is WASTED prospecting?
- $631 per week PER SALES REP
- $2700+ per week PER SALES REP
- $32,000 per year PER SALES REP
And, what if you have two, four or six sales people? The waste is staggering.
Check out our ROI calculator and plug in your own numbers to see the see how much that “inexpensive” list is really costing you. Then, ask yourself:
“Can we afford to continue wasting this much money?”
By purchasing the wrong list, you may be creating a significant amount of waste in your organization – From wasted time, wasted money, wasted talent…to all the waste of LOST OPPORTUNITIES and LOST SALES!
As you’re reading this, well paid sales reps all over the country are calling on dead-end lists filled with BAD INFO – wrong numbers, non-decision makers, and people who left the company several years ago… all in an effort to find qualified decision makers!
- Do you really want your high paid sales reps spending their time running into dead ends over and over again?
- Do you really want to pay them to search through inaccurate data and misinformation?
FACT: A list is usually LOW COST because it’s LOW QUALITY. Spending money on such a list will COST YOU much more MONEY than the list itself, which can be detrimental to your business.
By simply choosing to invest in a high quality list of the decision-maker contacts you seek, you can eliminate much of this waste! WHAT IF your sales reps could spend every hour calling on an accurate list of decision-makers?
- What kind of time and money could your organization save if your sales reps had accurate decision-maker contact information?
- How much more revenue could your sales team close in a month? In a year?
When you factor in soft costs savings like increased productivity, shorter sales cycle, reduced turnover and greater job satisfaction – the ROI of a high quality list skyrockets!
So, before you purchase another “inexpensive” list, consider the high COSTS of doing so, and be certain to ask the following questions.
5 QUESTIONS TO ASK BEFORE YOU PURCHASE ANOTHER marketing list or database
1.) How is the data compiled, and WHO is compiling it?
2.) How often is the data updated?
3.) Does the information provide specific job functions (not just titles)?
4.) Is each person in the database involved in influencing or making decisions?
5.) What are the restrictions for use? (One-time use, no emailing, etc.)
The truth is, there are very few commercially available lists that can provide the kind of drilled down, accurate decision-maker information you need.
However…there is ONE company that specializes in developing accurate lists of decision maker contacts in Corporate Training and HR… Mentor Tech Group.
If you’re lucky enough to sell or market to the corporate training or HR world, there is a highly unique list option available to you…the Mentor Tech Group Market Intelligence database of more than 39,000 Corporate Training & HR decision maker contacts at America’s top companies!
WHAT IS THE DIFFERENCE IN A HIGH QUALITY LIST?
Mentor Tech Group offers drilled-down Market Intelligence, not just mere “data.”
Mentor Tech Group’s market intelligence lists are hand built by industry specialists who have personal conversations with every contact in our database. Our Market Intelligence Consultants gather and confirm contact details, as well as the person’s exact responsibility within the organization to determine if they merit membership in our database. (Now that’s unique!)
With the purchase of MTG data, you will receive FREE* list updates every FOUR months for one full year. Your sales staff will no longer be wasting up to 25% of their time calling on expired leads. Your marketing staff won’t be receiving loads of bounce backs on email marketing campaigns. The MTG database is current, accurate and qualified.
Because we speak to each contact in our database, we are able to gather information about their specific Job Function and their area of responsibility in the organization. We call these “Job Codes.”
This information helps us determine if a contact meets the criteria to be included in our decision-maker database. Our database is then segmented by Job Code (not nebulous job title), allowing you to identify contacts with certain specific responsibilities within an organization.
Imagine:
- No more wrong turns and dead ends calling on poor quality lists!
- No more wasted time, money and effort chasing ghosts!
- Increased sales pipeline activity, improved marketing ROI, increased sales revenues.
Don’t waste another day using poor quality data. If you want to decrease waste in your sales process and boost sales, call Mentor Tech Group and ask us the 5 Key Questions included in this article. Our answers may surprise you!
Save time and money using MTG’s accurate database:
- The best and most qualified marketing Market Intelligence in the industry
- A direct link to the decision makers you seek!
- Precisely targeted and highly accurate information, ready for you to email and call!
Call 651-457-8600, Ext. 3 for a no obligation quote!
We’re happy to build a quote that meets your target market specifications. Be sure to ask if MTG’s Total Solution option might be right for you! Contact us today.
Until next time… Happy selling!
