If you want to promote an upcoming web seminar, a website, or your products, it all begins with an email list.
You might be thinking about renting, buying or even building an email list. But what are the costs for each option, and which option is the most appropriate for your business? Don’t worry! This guide will help you get started.
Buying a List
Many experts believe that purchased lists have a bad reputation in the industry. Although it’s true that the quality is low, however, the low cost is still a great bargain for many companies.
So… if you’re purchasing list, consider if you meet these points:
- You have a plan in place how to make use of the data throughout the year
- The targeting options you get through purchased list meets your needs
The cost per name for purchased list could be anywhere from a $0.50 to $1.50. If you want high-quality list, expect to pay up to $3 per name.
Renting a B2B List
List rentals are still the number one choice to get as many lists as possible from trade publications. This is because these lists usually support the wide range of industry-relevant selection criteria.
Plus, it’s also been discovered that list rental helps you reach more target audience than you would from the purchased list.
If you’re thinking about renting a list, see if you meet these following criteria:
- You don’t find the same selection criteria through purchased list.
- You don’t really need access to the list. You just need companies to deploy the list for you.
- You need to reach a wider audience because you’re promoting an important event, such as a local in-person event or a webcast.
- You don’t need access to the list (and hence, you won’t receive an email list). You just need a company deploys list for you.
The cost for each name ranges from $0.15 to $0.60 for a single time use. Also, expect to pay a premium fee for the extra data you’ll receive through list rentals.
Building a List
List builds are an awesome solution for targeted data. They’re often built through intensive research and calling. However, unlike rental lists and purchased list, you don’t need any criteria to build a list.
That is one of the reasons why list builds can be a little bit expensive. But, if you consider the following situations, list building can also be viewed as an investment.
- You are going after very targeted users – people in specific roles and companies
- You need to reach as many prospective as possible, but also need to use the list multiple times
- You require very accurate data for your advertising campaign with high investment per person (for example, a gift or top notch dimensional direct mail).
The cost per name for a custom built list is at least $5, and that’s a relatively broad target criteria, which is also telemarketing verified. On the other hand, list builds with high target criteria can easily cost you up to $20 per name.
Warning: Before you go out to look for any of these three types of list, make sure you KNOW which one is the ‘right’ option for you. This is because the list has two different disadvantages over other marketing methods:
- The list often targets your message to a small and distinct audience, which isn’t a very good investment if you want to reach out to a broad range of audience.
- People receiving your message may not respond from you, as they were not expecting in the first place, which can lead to very low response rate as compared with an opt-in list that is built organically over a period of time.
Over to you…
What would you do? Buy, rent, or build lists? Or would you rather build an opt-in list organically? Share your ideas in the comments below. Or if you need help with an email list, please contact us.