Permissions is the current buzz word around data, even for what you believe is a customer of yours, if they haven’t purchased in a while, do you have permission to email them, and if asked can you prove this? It is of the utmost importance to gain and regularly check permissions are in place.
To build a fully permissioned prospect base, there are two options –build a list of opted in prospects yourself via your website or Purchase a list from a reputable data provider;
A great way to collect fully opted-in email addresses, would be to use a opt in form popup, such as Optinmonster, Optimonk or Convertplug. A service such as this will help you create smarter opt-in forms and test them. These forms can be embedded on your site anywhere and make it easy to create personalised and targeted messaging. The upside of collecting this data is that the users will be actively engaged already in your products, but the downside could be low volumes and speed of getting enough people opting in to build a good volume for email, so I recommend looking at a lead magnet.
A lead magnet is basically a freebie in exchange for an email address. Most are digital materials like PDFs, infographics, free samples, or videos anything that would be enough of a reason for the end user to part with their email address.
Some popular lead magnet examples are…
The second and much faster way to build a prospect list is to purchase a list of your target consumers from a data supplier. Rather than gaining the permission to email prospects yourself, data owners source an opt in that allows you to contact them as a third-party. The data available here will include extra business knowledge that will further enhance your targeting ability – i.e. we hold the number of employees for a company, so you can make sure that your local computing service company isn’t buying the contact details for Microsoft.
Make no mistake about it – where you choose to buy your data from will be pivotal to the success or failure of your email marketing campaign. There are many factors you can look at to help you make this choice;
Most data owners aren’t interested in dealing with smaller customers and tend to concentrate their time and resources on licensing their data to re-sellers. For instance, Koju Media is a re-seller of 118 information database, any reputable data company should be forthcoming with where their data comes from.
Check the company’s credentials – ICO and DMA memberships are two very helpful guides (although don’t right off a data company that has just started, as membership of the DMA takes 6 months to join at the least.)
It’s common practice for a sample of 20 records to be provided before purchase, giving the consumer an idea of exactly what to expect. If a data company was not willing to provide a sample, it would be a strong indicator that they might not have exactly what you need.
Always bear in mind, If the price is too good to be true, then the data won’t be! Data is sold on a per ’000 basis and a normal data set should cost about £250 per ‘000, some data companies will put either a premium or an admin charge on smaller volumes of data.
Premium data sets such as a brand-new business or a specific secondary contact within a company such as a HR manager or Fleet manager, will cost more, possibly between 400-1k per ‘000
Have a look at the testimonials you can check if they are legitimate by having a quick look at the website of the company they are from to check they are real.
Data Quantity and response rates
If it is your first foray into the world of email, inevitably the next question is how much data do I need and what can I expect as response. For your first campaign, we would suggest a 12-15% open rate and a 1-1.2% click through rate, use these figures and consider the following;
In the light of changing regulations, it will become rare for people to be able to buy data to be granted eternal licenses, leaving the single use or annual license as options. Single use data is often only very marginally cheaper that an annual licence and Campaigns will often be re-run with slightly different messaging/offers to strike a chord with the recipient. An annual licence is what we recommend, this will come with a limit to the number of uses most likely 12 contacts in that time frame.
Over use of data is not a good idea for a few reasons;
If you need any further advice on data lists for email, you can speak to us here at Koju, look out for the second part of this series which will focus on how to get the best from your email marketing campaign with advice on content, design, subject lines and segmentation.