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3 Types of Businesses that Can’t Afford to Buy Email Lists
Email marketing is an ideal way to develop relations with your current customers and reach out to leads to convert them into your buyers. It allows you to keep your customers up to date and make the most out of your digital marketing campaigns. It provides your e-commerce store better overall engagement rates and returns on investment (ROI).
However, for a successful email marketing campaign, you require an email list that is relevant to your audience and allows you to offer them what you’re looking for.
If you’re reading this, it is pretty sure you’re in marketing and looking for a way to quickly grow your email list. Email marketing is one of the most commonly used digital marketing techniques to reach out to your potential clientele and increase your ROI.
However, the problem is, most of the people purchase or rent out email list to contact new leads. These lists are no less than trouble. They are usually recycled or contain old emails that are discarded and no longer in use.
Here are 3 types of businesses that can’t afford to buy email lists and should avoid them.
Three Types of Businesses That Should Avoid Buying An Email List
1. New Businesses
With every one of us looking for shortcuts, new businesses easily mistake purchasing lists and end up either with legal repercussions or their reputation is ruined before their business has even opened.
- New businesses either have few or no clients at all. They are often looking for a quick and easy way to grow their business, and hence why buying an email list with thousands of potential clientele or leads is their idea of growing a business.
- It might seem like a decent idea on paper, but when it comes to the engagement rate of people on these purchased lists, it is 0-5%. These lists are randomly harvested from the web and often contain irrelevant leads or emails that have been discarded.
- The sole purpose of running a business is to provide people with what they need and offer them services that they might be lacking. Since these people are randomly picked, you have no idea of what issues they’re facing or what they need.
- A purchased list does not provide you with vital information regarding your potential clientele and what they might be looking for –hence why you can’t afford to buy an email list.
With a new startup or business, finding people relevant to your company and services is crucial. This will improve your business to client communication, and you will be able to understand your clients’ needs better, resulting in an increased ROI.
2. Established Businesses That Are New To Email Marketing
Email marketing brings out an ROI of 4400%. Considering these stats, many running businesses are opting for email marketing to boost their B2C interaction and improve their overall engagement rates. It also serves you with a way to connect with both new and present clientele.
- As with new startups, owners of running businesses might think of buying an Email list. While it might provide you with hundreds of potential customers, but it isn’t the case when it comes to engagement rates and ROI via email lists.
- Running business owners often make use of their pre-existing reputation into allowing them to send out promotional emails to anyone. Who would question their reputation? They’re already up and running and have a name. But it’s a huge mistake.
- Spamming uncalled-for messages will hurt your reputation and adversely affect your reputation unless they’ve signed up for your subscriber list and are willing to receive promotional emails. It will also affect your sender reputation, and you might risk Email Service Provider (ESP) closing your account.
Increased bounce rates and low engagement rates, spam reports add to lowering your sender reputation. A better way to run an email marketing campaign for pre-existing businesses would be inviting your present clients and providing them with a way to opt-in for your email marketing campaign. Because they know what you’re offering and are interested in what you’re offering.
3. Small-Medium Businesses that are looking for a way to grow quickly
According to a research, more than 75% of marketers have currently found an incremental change in email engagement.
- However, this only implies to businesses that have an organic list, Small-medium businesses are often keen to improve their ROI. They are looking for ways to make use of their purchased email list. But purchased email lists will only add up to your problems and affect your overall reputation and engagement rate.
- Growing your business requires your customers to trust you. For this, you need to serve them with what they need and ensure they’re happy with what you’re offering them. This preserves your present clients while at the same time, boosts your overall reputation.
Furthermore, communication is the key to customer satisfaction. In case you’re communicating via emails, there’s a strong possibility they might not be delivered if you’re using purchased email lists. This adversely affects your email deliverability due to irrelevant audiences and hence damages the reputation of your business.
Steps to Take for Organic List Growth
- For the organic growth of your email list, you can follow these steps to ensure you get the most out of your digital marketing campaigns.
- Ask your potential clientele to subscribe to your blog.
- Include an opt-in on your blog for people to sign up for your services or newsletter.
- Incorporate your digital marketing with social media for the organic growth of your email list.
- In-person promotion via brochures or allowing people to sign up using SMS subscription.
- Provide a way to your happy customers with a promotional discount on referrals.
Purchased lists are often over-used or recycled and contain misinformation. These lead your email marketing to poor email deliverability and adversely affect your reputation. It also risks the closing of your accounts by the ESP. However, organic list growth incorporates SMS and Email marketing for a better engagement rate. It also includes in-person promotions and blog subscriptions.