Prospect List

What is a prospect list?

A prospect list is a collection of names and addresses of prospective customers to be targeted for a direct marketing campaign. These names and addresses should match a particular identified target market. Prospect lists can be developed by two basic methods, specifically as mailing lists for rental, often from information in the ‘public domain’ and the type of prospect list included in business information available from Companies House or researched by telephoning companies in a specific sector. A warm prospect list may be generated in response to an advertising or direct marketing campaign. Prospect lists could include controlled circulation or subscription lists, exhibition attendees, buyers of business equipment or services or indeed customer lists of any sort.

A prospect list is available for rent from list owners or list brokers. Prospect list owners are the generators of mailing lists, either specifically for rental or as a by-product of their main business. The Prospect list providers aim is to sell you their list to fit the profile you are seeking. Apart from general information about the origin of the Prospect List, which may be in brochures or other advertising literature, you should ask to see a data card that gives a full and transparent description of the prospect list you are considering renting.

Prospect lists are priced per thousand names. Prospect list suppliers may have a one off price for use of all the names. In addition to the base price, there will usually be further charges for each selection and for the output format you require. All prospect lists include seed names which are dummy records addressed to the prospect list owner or his agent. Unauthorised usage of a prospect list will, therefore, be detected by the prospect list owner and may lead to legal action.

Methods of updating a prospect list vary depending on the source of the information. All Prospect List Owners in the UK must register under the ACT and collect data fairly. Prospect List warranties state the details of registration and attest that the individuals have been offered an opt-out or that the data has been fairly obtained from publicly available sources.

A prospect list is the most effective form of information about an intended group of potential customers and therefore purchasing a good one is a valuable investment to make. Marketing analysis can be as flexible as the shifting markets it seeks to study. An understanding of marketing shows us how to adapt the product, message, promotion and the prospect list is key because it is the source of who we are reaching. A prospect list will determine the characteristics and nature of all of these things. We aim to make today’s prospect list, tomorrow’s customer list.