Email List Management Services – The Basics

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February 3, 2010 – 10:33 am

We recently had a client sign to have Data Monetization provide email list management services. They are a company that generates leads for financial organizations, and they retained the rights to do third party non-competitive after-use marketing to the leads they generate (via vendor agreement and privacy policies). Kudos for thinking ahead. :-)

“So, when do we get our first check?!?! And how much will it be?” Whoa, easy cowboy.

Unlike many spammer-type email list managers out there, we’re going to help you make more profits long term, by marketing at a measured pace with solid marketing campaigns. This was totally contrary to the email list manager they were using before, totally spammy, and totally killed their list.

We made sure the client understood, that with the year’s worth of data, we would do modest emails to their list, to build trust, and provide the list a SERVICE, not spam.

We provide a service to the contacts on the list, by simply asking them what information they are interested in. Then we start sending that information to them in newsletters, blog posts, through social networks and through other media. As we provide that valuable information to the list, we also put RELEVANT marketing information along with the info of interest. If they are interested in the products and services, they will visit those websites, and our client will get paid. Simple, non-spammy approach.

And it works. In fact, the goal with EVERY client we bring on is to increase their income from managing their lists over their past list managers. It allows them to create residual income for years to come.

7 FREE Resources to help you keep your merchant accounts

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January 20, 2010 – 1:44 pm

Mike Young has a great post on his site he put there yesterday. Great info on the major problems with merchant processors, and some of the crank down on internet marketers. What good is it if you’ve done an incredible job at managing your lists and monetizing your data, but end up with no way to transact your online sales? Look at the post, and make sure you’re compliant!

Check out Mike’s site and blog post.

Privacy Policies – Absolutely Critical (And have them match your business methods)

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December 17, 2009 – 8:47 pm

About 3 months ago, a high traffic site came to us saying, “We get about 1,000 to 2,000 leads a day, and we understand that you can take our data and help us to make lots of residual income. When can we get started?” We love it when the conversation starts that way. Aren’t referrals nice? ;-)

We started doing some of the preliminary reviews, and guess what, their privacy policy was written NOT to allow them to monetize the data. In fact, their privacy policy stated, “Your email and/or phone information will not be used for any marketing by any other parties whatsoever.” They took a blanket privacy policy from their attorney, and just stuck it on their site without any review for their business model and business goals. Their attorney should be shot!

Your privacy policy is critical for your business, and should cover all the latest spam and FTC laws. We recommend a bi annual review by a COMPETENT attorney. If you don’t have one that covers online marketing laws, l,et us know, we can let you know about some of the industry leaders.  Also, here a great link of an online industry attorney I follow: Mike Young Law.

A couple of recommendations:

  • Decide on your business objectives (what are you going to do with you list?)
  • Explicitly tell your visitors what you will do with the data. The more explicit the better
  • Let them know that approved third parties will be contacting them (Email, Phone, Postal)
  • Is is also a good idea to mention the number of times they will be contacted (Especially if monetizing phone)
  • It is better to be liberal in your privacy policy and conservative in your monetization than the reverse

One last recommendation: Be conservative to moderate in your efforts to monetize. Here at Data Monetization, we subscribe to the “mazimize long term results over short term benefits”.  Shhhhh, I’m going to share a secret, it actually brings BETTER financial returns over the long term. And it makes sense (duh!), don’t hammer your list!  When you hammer your list, you bite the hand that feeds you.

Data Monetization List of Services

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December 2, 2009 – 9:01 am

Here is a list of services and methods we use to maximize your profit goals, generating the highest dollar per lead (DPL) in the industry:

  • Call Center Upsells
  • Call Cent Cart Abandonment Systems
  • Welcome Call Strategies
  • After Sales Followup Call Upsells
  • Email Auto-Responders
  • Email Marketing and Monetization
  • Offer Bumps
  • Direct Mail Campaigns
  • Traditional List Monetization Nework ( Email/Postal/Phone)
  • ProprietaryList Segmentation and Enhancement (Increases the value of the lists)
  • Other Proprietary List Monetization Programs

What to do about Cart Abandonment and Lost Sales?

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November 20, 2009 – 3:28 pm

Every website on the planet have visitors come in the door, click around, choose some items, plan to buy something from you, then just leave. See ya! And they’re gone forever.

What do you do about these people who abandon your cart right when you’ve got them on the hook? And what does this have to do with data monetization or list management services?

Your first priority to addressing this problem is to make sure your pages are being tested and improved with landing page optimization. (Our sister company Conversion Voodoo can help you with that ;-) I am still surprised to run into large traffic websites that are still doing no optimization on their sites. Don’t they know they are losing massive amounts of money that’s just falling off the table?!?! But, even after you have experts come in and massively increase conversions, you’ll still have people abandon your carts. Boo hoo.

So, is there another way to save some of those sales that have just walked out the door? Yep, a simple cart abandonment strategy.

There are 2 strategies: online and offline.  Online strategies involve using automated email responders to contact the lost sales. Offline strategies involve contacting the visitors who abandoned at the point of sale by some means NOT via internet; could be phone, letter, postcard, coupon, showing up on their front doorstep begging, etc.

One of our Conversion Voodoo clients has had an ongoing campaign generating thousands of monthly online sales on their websites. They came to CV to increase their overall conversion rates, which CV happily did, and the client was VERY happy with the results. However, we told them that in addition to increases site conversion and creating an email auto-responder system, we could also do some “old school” techniques that could bring back even more of those lost sales.

Our Offline Cart Abandonment strategy was simple: as the client walked out of the door, we would send someone running out after them screaming at the top of their lungs, “Stop!!! Please don’t leave, I’m sure we can help you!”, figuratively speaking of course.  We would  make a call to the “lost sale” shortly after they left the site, and simply let them know we noticed that they were interested in purchasing, but then left. “Is there anything I can help you with? You are valuable to us. We notice you’re carrying a heavy burden in your wallet, let us help you lighten the burden a bit.”

With that small act of having a customer service rep call them, we increased the sales on that one campaign by 14.6%. Which added a couple million back into our clients pockets (and still adding into their pockets, as we are still running that strategy for them).  Needless to say, the client was happy. :-)

This is a simple strategy to implement, with some exceptional benefits: Increased Profits!

What is Data Monetization and List Management?

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October 10, 2009 – 2:01 pm

What is “data monetization” and how is it different from list management? In essence, data monetization is list management on steroids.

List management in today’s world is taking a company’s list, and selling/renting pieces of those list:  names with postal, phone and/or email information to companies interested in contacting those people to sell their products or services. List managers typically share those lists on a monthly basis to list buyers. It’s a fairly simple process, and can create some nice additional “found money” for companies who are compiling these lists from their own marketing campaigns and sales.

Data monetization is list management PLUS the ability to make additional profits:

  • selling that data (list of clients or prospects, or people who’ve visited your website) to data aggregators like Fresh Address
  • email management and advertising (Using your list to advertise other products or services)
  • segmenting your data to make it more valuable for list renters
  • appending data with fresher information to make sure the data stays relevant to list renters
  • aggregating the data list with other list to rent/sell to large phone/postal campaigns
  • Cart abandonment strategies to capture lost sales
  • and much more

Standard list managers do not do these extra steps, which means your data is missing out on a lot of profit opportunity.