Keys to Building a Targeted Business Database
Mon, 02/03/2014 - 21:49 — Brandon Steffek
There are overwhelming amounts of criteria selects to choose from when building a prospect database for a ticket sales campaign targeting businesses. Only research of proven corporate ticket buyers will give you access to these known elements and that is exactly what we will be discussing here. Through the course of this blog, you will learn how to determine the appropriate business types and sizes based on the specific ticket package you are looking to successfully sell.
Once you decide on the ticket package you want to push, you need to determine the types of businesses you want to target. First, you need to identify certain industries that are proven to buy that specific ticket package. Research shows that general contractors, business management consultants, high-tech, accountants, manufacturers, etc., are all legitimate candidates. The best way to key in on proven industries that buy is to take a look at who are customers with you already and try to replicate similar companies in your campaign. You can select these industries at all sizes for the most part, unless you are selling premium packages.
Secondly, you must flip the previous approach of selecting industries you know buy and omit industries we know do not have a need for entertaining clients or rewarding employees. A few examples of industries to ignore for season ticket sales are retail establishments, schools, churches, government and social services/non-profits. Even though schools and churches are great group ticket buyers, we are going to stay away from them when building a season ticket prospect database. Once you have omit these industries it is best to then set the company size criteria a bit higher than you would in the first step. Essentially what you are doing is loosening the industry criteria but at the same time bumping the sizes up so everything stays balanced.
Now that you have figured out what industries to focus on and which to stay away from you must consider what sales volumes and/or employees sizes to target. There is a common misconception that you only want to only target companies with 20+ employees, which is a mistake. Research shows companies in the 1-4, 5-9, and 10-19 employee size ranges can represent up to 60% of your corporate season ticket buyers. It is obvious there are many more companies at the smaller sizes, but the facts are hard to ignore when a majority of buyers are represented in these smaller size buckets.
One key to selecting the size of company is by considering the investment you are looking to obtain from the business. If you are selling suite leases, you need to take into account the sales volumes of the companies and justify that they can actually afford your investment. Be careful here though, highly qualified professional categories like attorneys/legal services can be eliminated by setting the size criteria too high, which is a huge mistake. Attorneys are across the board the top buying category for most ticket types.
Another factor to consider is the employee size of the company. If you are pushing corporate group tickets, make sure the employee size of the business is relative to the minimum group size you will be offering. You do not want to build a database of companies with 5+ employees if your minimum group size is 25. There are always friends and family that are obviously eligible to join, but try and make your life easier by focusing on companies that qualify on their own before considering other guests.
Through the course of this blog, we have covered how to target the appropriate company types and sizes when initiating a ticket sales campaign geared towards businesses. Keep in mind there are other factors involved when building databases, but none are more important than these two. Spending more time and effort focusing on these areas will prove to increase your ROI and ultimately the success of each campaign.