List building has become somewhat of a buzz phrase recently but many business owners are still none the wiser about what it actually means or whether they should be doing it or not. List building is exactly what is says it is - building a list. Unlike a ‘shopping’ list or a ‘to do’ list, however, list-building in business is the development of a database of potential customers, that is customers who have already expressed an interest in your products or services and have given their permission for you to contact them. Such a list is extremely valuable and can, if utilised in the right way, speed up the selling process and increase conversions.

In its simplest form, a list can comprise the personal details (email address, correspondence address and/or telephone number) of all the people you have already sold something to which can be stored on an Excel spreadsheet for future marketing projects. There are so many marketing opportunities for businesses which have a list of prospective clients including e-broadcasting, direct mail and promotion via social media. It also gives businesses important data about the buying habits of their customers, what products they like or dislike, which can make selling much easier and more successful.

Whichever type of business you run, whether it’s online or from shop premises, you need to stay in touch with your potential customers. Building a list is one of the most cost-effective ways of attracting new business and can become very fruitful in the future if the information gathered is handled in the right way. It’s also a great way of increasing traffic to your website and social media pages which should already be promoting your goods and services.

If you’re still dubious about whether an email list is of any real benefit to your business, then check out your own inbox as there’s likely to be at least two newsletters from companies which have gleaned your email address from you. Have a look at how they’re using their list to keep in touch with customers and promote their products. A simple data gathering exercise now can bring huge dividends in the future.

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