6 Reasons Why Your Should Start List Building
For any business, our biggest asset is our contact list. To continually grow our business, this list must also grow, and be nurtured.
In a digital marketplace, our greatest asset as business-owners and marketers is our contact list. These are our existing and potential consumers, clients, customers and patients. In order to grow our business, we must build up the number of contacts in our list, as well as build up the information about each contact in our list.
List building is therefore essential. Here are 6 reasons that can help you get started with focusing on building your lists:
1. Millennials are an important market now and for the future, plus they are more engaged online making it more likely for them to respond to your messages and engage with your brand if the message is relevant to them. It is crucial to know who they are and what their interests are.
64% of millennials in a study said that they respond more positively to brand messages that are tailored to their cultural interests (music, movies, sports, entertainment. - Entrepreneur.com
2. It is much easier to up-sell an existing customer than to acquire a new one.
It costs 7x more to attract a new customer than retain an existing customer. - Invesp
3. With the majority of website traffic and online brand engagement now by mobile device rather than desktop, knowing your customer, knowing what they like and delivering relevant information and offers while they are on the move encourages impulse-purchases.
44% of consumers say that they would like brands to deliver deals and coupons to their mobile devices. - Hubspot
4. Segmentation can dramatically improve conversions of any list campaign. The more you know about your consumer, the more you are able to create segments and more highly targeted content, offers, etc.
39% of marketers who segmented their email lists experienced higher open rates - Lyris
5. As outdated as it may seem, email marketing is still the most effective method to engage your customer. You will obviously need their email address for this, but if you have additional data on your customer such as their gender, their location, their interests, their family size, etc., you are able to tailor the email to trigger action more effectively.
...the rate at which e-mails prompt purchases is not only estimated to be at least 3x that of social media, but the average order value is also 17% higher - McKinsey & Company
6. Automated email marketing, also known as drip campaigns, are a cost-effective tactic to achieve loyalty to your business. You can send out relevant, consistent and personal messages to your customers based on milestones or events during their journey with your business.
Automated emails get 119% higher CTR (click-through rate) than broadcast emails - Epsilon
B2C marketers who connect with customers through automated emails see conversion rates as high as 50% - eMarketers
Mawazo, as the exclusive partner to Basebuilder in Canada, has launched a joint campaign for Roots Canada and Expedia that will build their lists over a period of 3 months. Basebuilder, which is based in The Netherlands, has been successfully running list-building campaigns for the past 6 years, with the specific focus of converting anonymous in-store traffic to rich digital profiles. With the store traffic of Roots, both Expedia and Roots are able to acquire contacts (email addresses) for their own personalized marketing. The campaign is fully CASL-compliant. Find out more!
At Mawazo, we help business owners grow their revenue by creating a measurable strategy for their digital marketing and executing it as their marketing team. We acquire leads for your company, engage them with personalized communication, turn them into customers and retain their loyalty.