There has been a lot of debate on whether you should create your own email list or buy an email list.
From your website, visitors or just buy email list online. If you are new to email marketing and just learning about email marketing or digital marketing in general.
It is very easy to become confused about whether to buy email list online or create one from scratch yourself.
There are plenty of blog posts which advocates one method over another for various reasons. Ranging from writers own experience with it to promote the website or service they are writing for. Hence most of the post is biased towards one site or another.
Here we are trying to list a number of factors an email marketer should keep in mind. When making a decision on whether to buy email list or create themselves.
We have tried to mention the pros and cons of each method for each of the factors. As we believe a marketer should always make the decision on how to procure a contact list for their next campaign.
Time is one of the most important things in life.
Whether you are building your new software or creating a marketing campaign for your software. You should always estimate how much time that job would consume.
Putting together an email list entirely with emails of your website visitors takes time. It takes even longer when you are just starting out. As you probably do not get much of organic traffic.
You might have to rely on referrals from social media websites & startup listing websites for traffic.
An email marketing campaign needs the email list to have a critical mass. It has to be a few thousands of emails. Unless you reach that you can’t really make a difference in terms of visits or customer acquisition for your product.
If reaching that critical mass takes you 3 months or over. Your first email campaign has to wait until then.
Whereas, with a rented email list or by buying email list you can make the process a lot faster. You can start the campaign the same day of buying the list if you have everything else in place. Buying an email list certainly win the fight against time.
When you buy email list you pay.
But how much do you pay depends on the list you are buying. The cheapest email list you can buy would not be targeted. You can buy a load of them for a little money.
But to buy an opt-in email list which is targeted toward your industry it would depend on the number of records you want to buy.
Also, there are rented list where you can run your one-off campaigns, by paying a one-off price. To send emails to recipients of a website in your targeted niche.
Calculating how much you would be spending to create your own list is not as straightforward as buying a list.
If you have a new website, you would have to calculate the price of hiring an SEO to expect if you are planning to get the traffic organically. Alternatively, sign up for Google ad sense, they are anything but cheap.
Assuming you would use a similar program to send emails in both cases, we can eliminate its price from our equation. But the list management program is going to cost you a monthly subscription. Unless you have a very small number of signups for your newsletters.
At first, glance at creating your own email list might look cheaper.
But when you take all the variables into account creating an email list of your own. It doesn’t look any cheaper than buying or renting a targeted email list. So, we would call this round as a draw between Creating an email list and to buy an email list.
Let’s consider how much work you have to put on when you buy an email list.
While a Google search might take just a couple of seconds only. Going through all the results carefully & sort listing them would take some time out of your day.
It’s not something you can do in 5 minutes. Now considering emailing the potential list owners & reaching an agreement would take at least 4/5 hours of yours. More importantly, it would it distributed in 2/3 days time, as communicating through email back and forth takes time.
The 4 hours of work to buy email list would certainly look like a cake walk when you are building your email list.
If you keep track of how much time you need to create a website/ landing pages. Create content on the website, rank your website for certain keywords, promote the website on different social media sites.
Also, list on startup sites and the list can go on and on. It’s a ton of work which would be spread within a span of 3 to 6 month.
Clearly, this round goes in favor of buying a list with a huge merging.
As anyone with slightest of knowledge about digital marketing would know, buying email list is a very very far cry from creating one yourself. If you are unwilling to put the work yourself you are better off buying one.
So, the last round of our evaluation goes to Creating your own list.
If we check the scores after 4 rounds of evaluation, buying or renting does win the battle by 2 to 1, as we regarded one round as a draw.
No matter whether you are creating your list, buying or renting it, the object is basically to convert your readers into paying customers.
Creating your own list does have an advantage when it comes to conversion. As most of the contacts in your campaign list have put in their emails in order to hear more from you.
Hence the chances of converting them into a paying customer are far higher than most of the times you buy an email list.
Although your own list converts more than the one you can buy. There are plenty of websites, where you can buy email list or rent as on-off email blast in your niche where you can get a very good conversion rate.
But it has to be within your niche & you have to select the list very carefully.
But there is another key metric which is the most important one, that’s return on investment or ROI.
You can’t really find out about this until your campaign is done. Like any other business, the bottom line matters in email marketing as well.
So return on investment would be the result to consider for your next marketing campaign.
If you’re your product or services are a unique one. It would be almost impossible to correctly estimate on ROI.
You would have to rely on the guesstimate. But if you are on a niche where email marketing is used, often you can get hold of some data.
Which might serve as an indication on whether to buy email list or create your own list for your niche. But for this be ready to do an in-depth research yourself.