Methods for Building a Prospect Database

There are many ways to build a prospect database, but none can add new prospects as quickly as buying a list. Still, these methods are worth trying since they don't cost much and they generally result in better prospects than commercial lists. In addition, unlike buying rights to use a commercial

Use these five techniques to build your own prospect database:

1. The old-fashioned cold call is a surefire way to build a database of leads. But don't stop there. Remember that every time a person on your staff comes in contact with a prospect, his or her information should be added to your leads database.

2. Join prominent community organizations: chambers of commerce, convention and visitors' bureaus, and charitable groups. Participate in community events where you can reach your target market.

3. Cross-pollinate with businesses that target similar markets. Some examples include: a hair salon and a clothing boutique, or an accounting business and a law firm. Share lists, swap brochures and promotional materials, offer discounts to each other's customers, or cosponsor events, such as an educational seminar for clients of both businesses.

4. Provide registration cards at events, and conduct periodic surveys. These are also good ways to beef up your prospect list.

5. Business card fish bowls at trade shows and other registration tactics are other ways to capture information on prospects.