What Are the Benefits and Drawbacks of Renting Your Email Lists?
In short, renting an email list simply means to purchase a list from a third party, then to use that list in email campaigns for your business. Of course email list renting can range widely with some agreeing to deliver up to ten emails a day to your list. Still, others will only agree to send you one email a week. The important thing is that the cost agreed is well below the costs of other forms of advertising. Renting an email list can be done for either monthly payments or one off purchases.
With email list renting, the cost is generally split between you and the third party. Some will also charge you a setup fee. Remember that as soon as the contract ends, you are no longer the owner of the email addresses on the list. This is why it's important to carefully consider whether or not this form of marketing is really right for your business. Here are some of the pros and cons of email list renting:
- Renting an email list is convenient. Most email list brokers will help you get started and set up your accounts. This means that you don't have to worry about anything. You can focus on getting your message out to as many people as possible.
- One-time use. When renting email lists, you aren't obligated to continue using the service. If you decide that you want to switch services at any time, you are free to do so. However, you will incur a one-time fee to renew the account. For most companies, this is usually less than the monthly fees required for most mailing programs. In addition, you won't be obligated to maintain your subscriber list.
- Opt-in possibilities. Most email list brokers provide you the option of opting into your database with a simple email. The opt-in allows you to receive specific offers from the company. This gives you a chance to try out the product and find out whether or not it's something you'd be interested in maintaining.
- Multiple listing options. Most email list brokers allow you to manage multiple email lists. This makes it easy for you to keep your audience up to date and interested in what you are offering. Additionally, you won't have to worry about creating a new list each time you want to promote something different.
- No set up fees. One of the biggest concerns that many people have when it comes to email marketing is the perceived cost of maintaining the list. List rental businesses don't require any up front costs to get started. If you only intend on sending out one newsletter, there is no estimated reading time attached, there's no need to design unique squeeze pages, and you can determine how often you send out updates to the subscribers.
The final factor to consider when choosing which list rental business is right for you is the customer service. There are many different mailing lists available online. If you're going to be the one hosting your own newsletter, it is imperative that you work with someone who is willing to go above and beyond for the customer.
All of these factors are important and should be considered when deciding which option is best for you and your email lists. However, the most important factor may be the ultimate cost. List rental services offer a monthly fee and there are several reasons why this may be the better choice. One, there is no set up fees involved. Renting is a one-time purchase and after that, there is no additional cost associated with it.
Also, there is no set in estimated reading time. With email list rental services, you can choose how often you want to receive updates. Some opt to receive updates once a week while others wish to receive them daily. With this flexibility, there is no reason not to rent email lists from a company that you feel confident in renting from. This will ensure that you are getting a good price and reliable services.
Lastly, when renting email lists from email marketing companies, you are able to rest assured that your customers' privacy is protected. With so many people out there who would like to use your products or services, it is easy to lose control and inadvertently violate someone's privacy. When working with an email marketing service company, they take your privacy issues very seriously. In addition, they work with you to ensure that your lists remain confidential. They don't sell your email lists to third parties, nor do they make copies of your customers' personal information.