Pro: Email Is Efficient
Perhaps the biggest benefit of email marketing is the efficiency. In fact, it's almost impossible to get a better ROI out of such an easy marketing approach.
Sure, you still have to take the time to write a compelling email, but once it is written, you can send it to your entire list with just the press of a button.
And the old adage that "time is money" is very true. An email list lets you concentrate less on marketing and more on improving your product, while staying front of mind with your customers.
Con: The Response Rate May Be Low
The average open rate for marketing emails for the financial services industry is 16% with about a 4% click through rate.
If you bought a cold list from an outside source, then it may not be targeted to your exact demographic, which could dramatically lower the open rate. .
Sending marketing emails to your existing client list would likely have much better results than to a cold list.
The Bottom Line
Now you know the pros and cons of buying a cold email list. To get more great marketing tips, visit our blog.
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