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Understanding the Basics
After you've pulled together some of the required information, there are a few more details to consider. These include understanding where lists come from, list ownership and types of lists.Where Lists Come From
Most lists are by-products of doing business with an organization. Companies everywhere maintain lists of their customers. Magazine publishers have subscribers, for example. Catalogue marketers have buyers. Universities have alumni.Many of these companies make their lists available to other companies that want to reach the same population.
Generally speaking, lists are available through list brokers, which can be smaller firms or part of a full-service direct marketing firm like Cornerstone. Getting to Know the Key Players will tell you more about how list brokers operate.
Lists made available through established companies and reputable list brokers adhere to strict privacy compliance standards. Determining Privacy Compliance will help you understand how to adhere to these important laws and conventions.
Ownership
Remember that when you rent a list, you will not own the names. Although you will be able to mail to the names listed on it, your rights to the information are limited. In fact, in most cases, you will not have physical access to the list you are renting. What's more, unless your rental agreement says otherwise, you may only use the list for a one-time mailing. Prospects who provide a positive response to your mailing may be contacted again without permission or payment to the list owner.Types
Despite many variations, lists fall into two major categories: response and compiled.Response lists
Many renters regard response lists as more desirable. This is because the people on them have bought something, responded to an offer, subscribed to a magazine, attended a seminar, entered a contest, made an inquiry or taken some other action. These actions suggest that they are more likely to respond to offers from direct marketers, especially other companies with similar offers or reaching a similar audience.Compiled lists
While compiled lists may not offer the same level of responsiveness, renters seek them out for another advantage. Their size and scope mean that they can offer higher levels of segmentation. Compiled lists are usually derived from public sources like phone books and business directories.
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