Building your own email marketing list used to be really easy. That’s all changed. These days, it takes a long time to build up a substantial client list using the standard lead capture and email marketing strategies. Is it a better idea to just buy or rent the email lists and bypass the list building headaches so you can skip the list building and get right into email marketing and making money? Here are a few things to keep in mind if you decide to use this strategy...
Bad List Brokers Are the Most Expensive
The most expensive list brokers aren’t always the brokers with the highest prices. The cheap list companies sometimes gather email addresses by sending automated programs out to websites and gathering email addresses. You know those Viagra emails you get and those emails about payday loans? Most of those are coming from companies who have found your email list on the internet somewhere. They know nothing about you and they haven’t qualified whether you’re a good prospect or not.
If you use cheap list brokering services, you could end up being labeled as a spammer. It can happen very fast, especially if you’re sending out a lot of emails. Your response rates will also be very low when working with these kinds of companies, making the list much more expensive than it appeared to be in the first place.
Would you rather buy/rent 100 well qualified names for $10 or 1,000 trash emails that will bring you nothing but spam complaints? That’s something to think about. Cheap isn’t always cheap. Sometimes it costs you a lot of wasted time and it could cost you your reputation.
You Can Build Your Own List
Okay, so now you know that the good list brokers are the ones to work with. But what if you could hire a virtual assistant to gather 100 leads for the same price, or better, than what you’d pay for a high end list broker? In some cases, it’s less expensive to go with the broker, but not always. It’s important to check out their data and find out if they’re really going to give you the information you need at a good price. Many of the higher end email list vendors won’t even sell you the list of customer emails.
Instead, they’ll rent it to you and charge you EVERY time you mail to it. This is hardly a smart idea if your mail campaign is still new and you haven’t had a chance to optimize your response rates. You could send it out once and only get enough information back to determine what you need to change on your next campaign. Meanwhile, you’ve lost money and you have to pay the list broker again just so that you can mail the newly refined version of your campaign.
As you can see, there are advantages to building your own email list, but you’ll want to weigh all of the options and all the potential costs before investing your money.
Email Alone Isn’t Enough Anymore
Email marketing is a great tool for keeping up with your existing customers. Sometimes, it can be an effective means of following up with your warm prospects. But email marketing alone isn’t’ going to get the very best results. You’re better off using email marketing in conjunction with direct mail and/or phone prospecting.
The more types of contact you make to your prospects and customers, the more responses you’ll get. This is something to keep in mind when you’re thinking about renting a list. Will you have access to other contact information so that you can supplement your email marketing with other types of marketing? If so, and if you work with a good broker or build a well-qualified list, you can make a big impact with email marketing.
If you’d like to find out how effective email marketing can be for your business when you do it right, call the digital marketing professionals at MSI right now for a free quote. We specialize in more than just email marketing, and the more methods you use to build relationships with your prospects and customers, the more responses you’ll get and the more profitable your email marketing will become.