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Should I Be Purchasing Email Lists?

Inbound marketing takes time, but the need to generate new leads quickly can affect your sales performance negatively. If used correctly, buying an email list can contribute to boosting your marketing efforts. This article will help cover the benefits and drawbacks of buying an email list. We will help you decide whether or not buying an email list is the right decision for your business. 

Buy an Email List

What is Email Marketing?

First let’s discuss: what is email marketing? Email marketing is a digital marketing strategy that entails sending emails to existing and prospective customers. It converts the prospects into customers and builds your clientele into a loyal fan base. Regardless of social media’s roaring success, email marketing is the most direct and one of the most effective ways to connect to your leads. It nurtures and consistently wins out other marketing channels. 

The Importance of Email Marketing 

The reason you should not take the decision to buy an email list lightly is due to the grave importance of email marketing in itself. Its impact, while being able to serve an increasingly positive impact, can also serve a negative one. Here are some reasons to explain the importance of email marketing:

  • Over 90% of people over the age of 15 still check and read their email. This is done on a daily basis and includes both young and mature demographics, unlike other marketing platforms.
  • You control and have ownership over your email list. Social media platforms have the ability to suspend or delete an account at any time, regardless of you losing contact with your following. This can be done without notice, but with an email list, you decide when to change or create a new one.
  • Email is more easily convertible. People are more likely to buy a product through email offers compared to anywhere else. The convertibility and return on investment of emails is at least three times higher than that of social media. 

Benefits of Buying an Email List

Buying an Email List

In instances where you need to quickly reap the benefits of an email list, buying one of quality contacts can be a great option when trying to fill your sales gap. If you buy a targeted list, many of them will be likely to become opt-in leads or customers. The greatest benefit of all is that the hard work and time of building this list is given to you virtually overnight. Keep in mind that you need to make sure this list is clean, targeted, and containing quality clients. If done correctly, you can ensure effective email marketing and accrue the benefits. 

Benefits of Buying an Email List

Here are five benefits of purchasing your email list:

Eliminates Wait Time and Frees Up Resources

The time-consumption of manually building a list could make a more efficient use of time elsewhere in your business needs. Purchased leads give you a head start and give you more time and resources to not look for new leads, but close on them.

Expands Your Reach Overnight

Every time a new list is acquired, you expand your growth to a new potential audience. The more people that get your message, the bigger the pool of potential leads you can acquire. Optimization of your marketing campaign can serve an impact regardless if your list was purchased or manually built upon time. When leads are nurtured properly, you are sure to boost your campaign.Email List

Increases your ROI (rate of interest)

Acquiring a list from a reputable provider can not only save you time and money on building the list, but on marketing efforts as well. You can be sure that the recipients are receptive to your message instead of wasting that effort on people who are not interested in your product or service. 

Fills in Sale Funnels

By purchasing a reputable list, you can expand your B2B audience and turn these prospects into customers. When these are pushed to the appropriate funnels, you can start nurturing those incoming leads. Those already or becoming loyal customers will be handled by sales.

Improvement of Cost Payback

When you send your marketing message to those customers with a genuine interest in your product, you are accelerating your lead generation and speeding up your rate of return. Seeing profits faster doesn’t always mean being associated with the big numbers. The smaller and more targeted a list is, the higher the quality of contacts it may contain.

Bottom line is, purchasing an email list contains many potential benefits in a shorter time span. Email marketing platforms can also aid in expanding your reach quickly.

Drawbacks of Buying An Email List

Even though buying an email list may seem like a quick fix to generate business, it can actually be a huge waste of time and money. According to some, this shortcut can actually do your business more harm than good. Here are five reasons why buying your email list is a bad idea:

Low-Quality List

Email list sellers aren’t always very honest. So, claims about quality and reputability of lists can be damning. Things such as missing information or incomplete data for leads, out-of-date information, and illegally harvested emails can make a 5,000-name list pretty worthless. 

Spammers

When people join an email list and get sold to another company, it’s probably because they checked off a box in the terms and conditions section about receiving offers from related companies. This does not guarantee that they are genuinely interested in your product, even if your message is well-written and advertised to create credible leads. It is more common for people to write your emails off as spam if they didn’t directly sign up through your company.

Other Companies Are Using That Same List

You have to consider that just because you bought that list doesn’t mean other people didn’t buy the same one as well. Just like they’re receiving advertising emails from you, the same type of emails are being sent by other companies. So, odds are they are already annoyed with the amount in their inbox and will not result in any credible leads.

Drawbacks of Buying an Email List

Facing Legal Fines and Bills

There are countries – including ours – who have laws against unsolicited bulk emails. One example is the CAN-SPAM Act in the United States. Even though buying an email list isn’t breaking the law, if enough subscribers complain (which is inevitable when buying a list) you can face an expensive settlement just to prove that you did nothing wrong. In addition, different countries have different laws. So be sure read up on the laws of email marketing before you buy a list containing international leads.

Poor Response Rate

An average response rate on a 10,000 name list is about five percent. Selling a certain amount of units of product to that percentage could result in a good netting. Yet, usually on bought email lists, the response rate is far lower than five percent. Some might not even open your email, let alone click to your company’s sales link. If a low percentage of those names take a look at your email, but aren’t engaged with the offer, you are bound to not sell a single item. Even then, while five percent is an okay response rate, the average on open rates with targeted lists falls into a healthy 20 to 25 percent. Your purchased list may not even come close to reaching that. 

How to Build a Good Email List

The bottom line is that buying an email list isn’t worth the time, cost, and hassle you invert into maybe seeing results. Growing your own targeted list with potential subscribers and responsive customers will bring you far greater success.

So, if it is more promising to build your own list, what are some useful tips to create an efficient one? Here are ten tips for creating your own email marketing list: 

  • Use engaging content to attract an audience: this builds trust and interest in your brand
  • Create pop-ups for each of the pages on your website
  • Use a lead magnet: gives potential subscribers an incentive to agree to a specific exchange with their email address
  • Create a timed pop up survey on your website
  • Get a reputable email service provider
  • Create a personalized call to action for each blog post or landing page on your website
  • Advertise your email newsletter on social media accounts and other marketing platforms
  • Create more landing pages
  • Encourage viewers to sign up immediately

Ultimately it’s all going to depend on your website’s content and how you advertise yourself on other platforms, but these subtle actions can push your potential subscribers to convert when they are ready. 

Email Marketing List

Get Help with Your Email Marketing

There are many great email marketing examples to follow after building up an efficient list. Hiring a reputable marketing agency, such as SEO Design Chicago, can contribute to handing the technicalities of advertising while you deal with building up your company’s success. Let us contribute to your marketing success story. Here at SEO Design Chicago our experts want to help you pursue your growth in online presence to create new leads and potential customers. Contact us today for any digital marketing help and interest in our services.

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