ABC: Always Be Compiling
One of my lasting recollections from yesterday’s elections was how effectively the Obama campaign used its database. I never made a donation. I never attended an event. I never even talked with a chugger. All I did was forward a laugh-out-loud viral video to my wife and I was hooked.
Early yesterday morning I received an email from the campaign reminding me that it wasn’t over yet and there was still time to send that viral video to friends. They were encouraging me to send to ten friends and they would send it to ten friends…You get the idea.
We all know that identifying a target market is imperative to any marketer. That is frequently followed by the slow, painful process of compiling a list of likely targets or a “prospect universe”. Whether you build it yourself or buy it from a third party, it is often difficult to capture more than 75% of a population. Each new data source shows diminishing returns so you need to think creatively about how to source new names. Inbound and outbound marketing helps but the acquisition costs can be prohibitive.
Can you suggest any other creative examples of ways to economically build a prospect database?