Originally published September 4, 2015 , updated on May 31, 2023

Published Date: The date when the blog went live on GL website. Updated Date: The latest date when the GL Content team updated this blog.

Around 50% of sales go to the first person to contact the buyer. This statistic alone proves that potential buyers lists are invaluable to up-and-coming business owners. While it may only be a small part of the entire market research process, compiling a buyers list is certainly one of the most important. Without a potential buyers list, selling a product would be a lot like shooting the hoops blindfolded.

Generally speaking, the most effective way to compile a potential buyers list would be to approach a company that is highly experienced in the field of market research. A team of these researchers is generally better equipped to deal with the legwork involved. Consider the fact that these sorts of companies have access to vast transaction databases. Also, they have a remarkable leveraging ability with all of their existing connections. It is simple for these professional market researchers to put you in contact with the right people. Probably much easier than it would be for you to plunge headfirst into the unknown.

People usually refer to these market research professionals as “advisors” or “business advisors”. They have the ability to make lucrative suggestions to start-ups who may be struggling to get a foot in the door.