Advisory Expertise: Don’t Buy Email Lists – DIY Instead

Advisory Expertise: Don’t Buy Email Lists – DIY Instead

We know what you think about email marketing: so retro, so ‘90s, oh-so-dead.

This isn’t really so: it’s still an effective marketing tool, a bland way of saying it’s a reliable source of customers and income. The tricky part is sourcing a respectable list of receptive prospects. 

You may be approached by specialist agents offering to sell you lists of hot leads. Our recommendation: don’t listen. Purchased email lists can do positive harm to your business. 

First, marketing to recipients on a purchased email list violates the EU’s General Data Protection Regulation (GDPR). Second, if you’re using an email marketing service – industry best practice – if they’re at all reputable, they’ll refuse to use a purchased recipients list. 

In any case, experience suggests that productive email lists aren’t actually available for sale. Consider it another way: how likely are the people on a list to know who you are and what your company does? What would lead you to suspect they’re looking for your brand of financial services? On its face, it’s a random shot in the dark.

How can you build an email list that comprises promising leads eager to hear your voice? The simplest start is to offer something of value for free in exchange for contact details. Eastern Planning Inc. offers a helpful range of white papers on its website – provide your contact info and you can download for free. It’s a sensible system and it works.

Your company blog can work in the same way. At the end of a post, provide a link to a newsletter sign-up page. Those who opt-in can receive your blogposts direct to their email, along with exclusive content and targeted sales offerings. The logic is similar to the first approach: give something for free, get contact details in return. No one’s at risk and the benefits are clear.

For more information, please read:
Why Financial Advisors Should Never Buy Email Lists (and How to Build One for Free) | Iris

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