3. Test new-business lists. One of the most popular forms of compiled lists are the new-business lists. These lists offer the mailer access to new and early stage companies that are in the market for a wide variety of goods and services. New-business lists are released to the market once a month. Furthermore, if one new business list works, chances are good that others will work well for you, too. Interestingly, if you take the new business lists from the top five compilers for any given month, only 20 percent to 30 percent of the names will appear on each list. That means there’s little overlap, so you should be mailing multiple new-business sources each month.
4. Hybrid compiled/response lists can reduce testing risks. If you have built your business by mailing to buyer, paid-subscriber and controlled- circulation lists, and want to develop a comfort level with compiled lists, you might want to test into the category with a compiled/response hybrid list. A hybrid list is one in which, through data appending, a response flag is added to a compiled record. This typically occurs as a byproduct of a monthly or quarterly cooperative database build. In my experience with using such hybrids, they typically will perform 10 percent to 20 percent better than a straight compiled SIC list selection.
While the hybrid SIC list will have a much smaller record count than the complete SIC universe, you can test into the compiled list category this way with a bit less risk. Then you can expand into the larger universe of the straight compiled SICs that performed best in the hybrid test.
5. Create your own compiled list from your housefiles. The title-slugging technique reminds me that every mailer can apply this tactic to its house file. For example, the maintenance products company used earlier to illustrate the benefits of mailing more titles could penetrate its current customer base more deeply by slugging appropriate titles into the records of existing customers. This is also a good reactivation technique when applied to customers who haven’t ordered in 18 to 24 months. Often, the individual name you have on your file is that of a person who has transferred or left the company altogether. Smartly directed title slugs will often find you a new champion within an inactive account.