#NoListBuys – Why Static List Building Based on Firmographics Is Outdated and InefficientPosted on 01 Jun
Your sales team is only as good as the data they use – and if they’re stuck using static lists to identify prospects, even their most winning sales pitch will fall on unqualified, uninterested ears.
At LeadSift, we firmly believe in the #NOListBuys mantra: It’s never worth it to buy a static list based on firmographic data alone.
Firmographic data can be useful, but only when it is combined with other attributes. On its own, it doesn’t tell a compelling story about your prospects. Sure, you might be able to segment prospects by industry, size of company, annual revenue and job title and more. But what does this information tell you about whether that prospect is even remotely interested in your product?
To us, there are at least three major flaws with relying on static lists based on firmographics:
1) Knowing the right title doesn’t mean they are in the buying journey
Let’s say you’re targeting VPs of Marketing in the technology sector. You get a list of a few thousand names that hit that mark, and they’re from the right size and territory, so you forward them to your sales reps. But after a few weeks (and a few hundred cold calls), not one single demo or meeting has been scheduled.
The people you’re reaching out to are busy, and despite their apparent match with your buyer persona, they’re not actually in the buying journey. They haven’t expressed an interest in your product, and they certainly don’t have time to be pestered by a sales pitch for something that’s not even on their radar.
However, all is not lost: dynamic, contextual lists can provide prospects that are closer to making a purchase, because they combine attributes like job title with specific actions prospects have taken that indicate that your product or service is top-of-mind.
2) Static lists are riddled with old and outdated data
It’s no secret: static lists are often built, and then forgotten about. They collect dust, going weeks and months without an update as the data becomes staler and staler.
While a list of several thousand seemingly on-target names might sound nice on paper, the reality is that many of the contacts you’re buying will actually have already moved on to a new position or company before you get the chance to contact them. This leaves you with clutter and dead-ends that ultimately waste time and money.
3) You’re getting the same, stale data as everyone else
So not only are you stuck with a list of unqualified contacts, many of whom are no longer even in the position you want to target, but that static list of yours is also in the hands of dozens or even hundreds of other sales teams. And that means that the prospects that you do reach will have been spammed to death already, and even less likely to respond positively to your pitch.
However, all is not lost if you’ve been relying on static lists to pump up your pipeline. Using a tool like LeadSift can overcome all of the above shortcomings (and more!), and supply you with fresh, qualified leads that are in the buying journey. Try us out, and we bet you’ll join the #NOListBuys team in no time!