|Jen Jordan brings a wealth of life and leadership experiences to her writing. After 10 years creating a variety of content for a nonprofit, Jen decided to establish her own writing business. She specializes in creating high quality blog and website content for small businesses. When she's not writing, Jen is a competitive triathlete with a goal of completing a triathlon in all 50 states.
When Small Business Should Consider Buying Information Lists
Purchasing an information list often has negative connotations because it is possible to buy contact lists that include information sold across many lists. While it is essential to be careful in choosing quality lists, there are times when investing in lists can boost your business.
Lists are a valuable B2B tool that can help small businesses connect with vendors and individual customers. Through securing quality leads, your small business can cut acquisition costs, increase your ROI, expand your market, and create a more efficient marketing strategy.
Purchasing a quality list is the most crucial step. Make sure your list is targeted to your industry and ideal customer demographics. Reliable data providers offer sample records and accuracy assurance. A non-targeted list results in wasting your resources on uninterested consumers and can lower your ROI.
Lists that aren’t targeted or accurate can hurt your small business. Using outdated or inaccurate lists or information lists that consist of harvested names can result in your marketing being flagged as SPAM. This creates issues with your email provider, as most email service providers will not allow cold lists. Using a list may require a cold email service with multiple IP addresses.
Increase Your Reach:
Despite the challenges, even a 1% return on a campaign with 150,000 cold emails from a targeted list means 1,500 new contacts. Odds are, you will have a greater success rate. With rates between 1% and 10%, the average return rate on cold emails from lists is 8.5%.
Lists can create a path to expand your customer base. New customers mean less reliance on current customers and increased sales. There are some opportunities you may have missed or contact information you didn’t previously have. Lists create new leads without hours of research, and this frees up resources for your business.
In an existing market:
When your list is accurate and targets the right demographic, your business can enjoy more ideal customers for the first time. This approach grows your brand within a streamlined audience, reducing the guesswork in targeted marketing.
To reach a new market:
If your small business is branching out into a new location or expanding your product or service line, a targeted list is a fantastic tool to inform new or potential customers. Using a list to market an area or to connect with customers seeking your new services or product, you can create a more successful launch.
Filling your sales funnel with ideal customers:
Unlike opt-in emails, cold emails include potential customers who have yet to interact with your company. Therefore, your approach must be different. Expect a lower engagement with cold emails, but that doesn’t mean they aren’t valuable.
Your goal is to reach consumers who don’t know you exist. A list offers the opportunity to fast-track locating those customers. Moving customers from a list into your sales funnel begins with your approach.
Improving customer acquisition efficiency will boost your ROI. Approaching cold contacts requires a solid strategy. Ensure your email subject line effectively presents your call to action and grabs your reader’s attention. Personalizing your subject line and email can increase your open rate by as much as 50%. Even the day of the week can matter when sending cold emails. Tuesday and Wednesday see the most success with response rates.
Keep your emails short, but be sure to deliver value in your email to increase your engagement. It takes a valuable offer that is relevant to the reader to move that contact into your sales funnel, and a campaign should consist of a few emails in a sequence.
Catching the reader’s attention, establishing touch points, continuing offering value, and an easily identified call to action (CTA) will move them through the funnel and convert them into customers.