Marketers understand how powerful Email marketing can be. It is widely accepted to have consistently strong response rates and ROI, low production costs, and delivers a powerful, personalized, one-to-one medium for engaging your customers or your opt-in list.
Wouldn’t it be great if you could extend the power of email marketing, and use that very same medium for prospecting and new customer acquisition instead of using it only to engage your existing list?
The good news is, you CAN use this great medium for prospecting. The bad news is, this practice has been in use by some of the biggest marketers in the world for at least 15 years – with superb results – and you have been missing the boat. So get on board and I’ll explain.
Right about now you might be saying, “I have a little bit of a problem with your marketing knowledge there, miss. That’s illegal! Those people haven’t consented to receive email from me! THAT. IS. SPAM!” So let me start right there: no it most certainly is not.
This practice – known as “third party list rental” – is 100% legal, and when done properly, is fully compliant with data privacy laws all over the world. It’s also a mature, precise, sophisticated marketing tactic that brings very strong engagement and conversion results, driving a wide spectrum of KPIs that are important to your success. Here’s how it works:
- Find the Lists that are right for your campaign. In the USA – the most prolific data market in the world by a factor of 20 – there are around 20,000 B2B lists and 30,000 Consumer lists available for this type of List Rental. They range in size from a few hundred thousand to tens of millions of records, and offer incredibly granular options for targeting specific consumers that meet your criteria. If you are not actively looking – or having an expert look for you – at hundreds of these lists every time you decide to do a campaign, you are almost certainly missing some very strong, highly responsive list sources that will drive engagement and conversion.
- Prep your creative. Have your agency or designer prep the HTML files that are going to be used for the campaign. Set them up for personalization, include lots of great clickable images and a compelling offer or three, and be sure to have a terrific subject line. Or, create a couple subject lines and do some instant A/B testing.
- Deliver your creative to the list owners you have selected for your campaign. They will deploy your message to the precise segment of their audience that you want to reach with your beautiful, dedicated email.
How and Why This Works
Third party list owners spend a lot of money every year collecting, cultivating and cleaning their rentable email lists. They collect data on people who buy certain products, register for websites, sign up for services, subscribe to magazines or digital content, use loyalty cards, do product research or shop in store or online. Each time they collect a new record, they do also collect a very specific type of consent from that individual data subject. That consent gives the list owner permission to occasionally send emails to that individual that are marketing products and offers from trusted third parties.
In turn, the list owner agrees that they will never give these third parties advertisers the actual email address of the people on their list. The list owner actually deploys approved emails to those people from their list who have been selected to receive certain messages – but the email address itself is never surrendered to anyone. This gives the list owner full control over who gets to market to their list, thereby ensuring that the recipients are respected, and only receive professional, legitimate emails and offers. If the list owners didn’t control the list this way, their consumers would quickly unsubscribe, and this precious asset that the list owner has been building would shrivel and quickly die.
A word to the wise here: any consumer list owner that offers to give you the actual email addresses from their list is selling you a shitty, poorly maintained list. If you use that data, you’ll get a huge bounce rate, terrible opens and clicks numbers, and you’ll get thrown in the spam pokey. Why? Because you did not collect consent from those people and therefore do not have permission to email those people. Don’t waste your time or money on this kind of thing – play by the rules, and you’ll be very successful.
Mechanics and Logistics
- You’ll select a date and time for your email to be deployed. The list owner ensures that their recipients are not getting pounded all day and night with emails, so you’ll agree on a deployment schedule.
- If you’re working with a campaign partner (like Infocore!) to find and vet the lists, negotiate with the list owners and oversee the message testing, deployment and performance reporting, you’re in good hands – there’s a bit of detail in getting these third party list rental campaigns to give you optimal performance. If you don’t have the expertise in house, find a good partner to make sure your marketing spend is well cared for.
- Note that this is not buying banner ads on a newsletter. The email that gets deployed to the people you select is a fully dedicated email that looks and behaves exactly as you’ve designed it.
- A few days after the campaign, you’ll get performance reporting back from each list owner. Their reporting will show you total number of emails delivered, the number of opens and the open rate, the number of clicks and the CTR, etc.
- Warning, self-promotion ahead: If you work with Infocore, our proprietary CampaignTrac platform gives you a full audit of those open and click results, lets you monitor deployments and performance in real time, and gives you much richer results reporting, including things like response curve analysis by day part, as well as user agent data (i.e. the kind of device, browser and operating system used by everyone who opens and clicks).
Performance and Pricing Expectations
- Expect excellent delivery rates – the sources we work with regularly achieve a 90%+ delivery rate.
- Expect opens in the 12% - 20% range.
- Expect CTRs in the 1% - 3% range.
- If your HTML is ready to be tested and deployed, you can be in market with your email campaign in 48 hours from order date.
- These campaigns are purchased on a CPM-delivered basis – you pay a price per 1000 records delivered. Pricing ranges based on volume, selects, etc.
Running out of space! If you’d like to learn more about typical pricing, campaign timing, benchmarking data on Opens and Clicks by day or week or time of day, best practices for multi touch campaigns, the range of available third party audiences (like New Moms, Pet Owners, Car Shoppers, Jewelry Buyers, Frequent Travelers) etc., please Contact Us and we’ll be glad to get you more detail.