Collecting email addresses from customers or potential customers is a tricky business, but trends have shown it’s getting easier. A recent study by Google and Boston Consulting Group shows that most customers will share their email address with a business in exchange for a small incentive.
And by most, we are actually talking 90 percent!
This is great news for businesses hoping to collect relevant email addresses to share promotions, new products, and other news via email marketing. Consumers have become increasingly concerned about their privacy and wary about how their data is collected and used. However, this method of data sharing is organic, trusted, and volunteered by the users, making it immune to most (if any) future regulatory changes.
The trick is, you need to offer the user an incentive in exchange for their email address. But, is there any other information you should be gathering? What are the best incentives to offer?
Here are a few tried and true tips and incentives you can use to promote to build your brand and collect meaningful data for your business.
What Other Data Should We Ask For?
Consumers don’t like to give personal information they feel is too invasive. That being said, what consumers identify as invasive varies greatly by demographic. Here are some examples:
- Zoomers are 57% more likely to share their email activity and 52% less willing to share their activity on other websites.
- Young urban professionals are 113% more likely to share their social media activity and 36% less likely to share their gender.
- New parents are 70% more likely to share their income and 43% less likely to share their activity on a company’s website.
- Retired or wealthy users are 34% more likely to share their activity on the company’s website and 53% less willing to share their income.
- Value shoppers are 18% more likely to share their income and 14% less likely to share their social media details.
By researching your target demographic and learning what they are more likely to share in terms of personal data, you can find the best course of action to increase signups. And if you don’t want to scare users away, consider keeping your ask as bare bones as possible since the email address is definitely what you will get the most value out of.
What Are the Best Types of Incentives I Can Offer?
Discounts & Promotions
This one works especially well for targeting first time subscribers. You could offer a first time discount to encourage them not only to sign up with their email but also to complete the checkout process using their personal discount code. A free gift with purchase could also work and to incentivize email sign ups and purchases.
Downloadable Content
A lot of businesses will offer access to e-books, videos, webinars, whitepapers or other materials in exchange for email opt-ins. This content should be relevant to your business and industry while also being informative and beneficial to the consumer. Not only will this help grow your email list, it also helps establish your brand as an authority in your industry.
Exclusive Access
There are a few ways to offer your customers the chance for exclusive access in exchange for their data. You could offer them access to exclusive products, early access to products, or access to limited-time-only products. You could also offer them entry into a contest or giveaway in exchange for their email. Consumers like having access to exclusive things, so this incentive might be the right one for you!
Why Should I Offer Incentives?
As stated previously, 9 in 10 consumers are willing to share their email address in exchange for a worthwhile incentive. This is a huge step up from those who are willing to give their email without an incentive, which is only 1 in 3 consumers.
Offering these incentives can also lead to opportunities in building your brand’s reputation. Nearly 60% of consumers believe brands are selling their data, so calming these worries with transparency and assurance is a must. Tailor your messaging so your customers will trust you to only use their data for relevant emails and nothing more.
