Ok, admit it–at some point in the past 2-3 years, you had the bright idea of using emails to search for loan prospects, right? Or maybe that “marketing” person, who you never really understood what their job was, asked you for a list of your contacts so they could blast out messages regularly, and get more attention by strutting into 12,000 email addresses every week. How’s that working out for you?
Email marketing is free(!) and can be effective, but in reality, it’s not free and there’s a lot of art to the practice, which is constantly changing. Realistically, it can easily do more harm representing you than good if misused, which based on my mail box, is fairly often in the small business lending arena.
Yes, I get my share of emails from the community I write to, particularly one Southeast bank who have me on lists with about 10 different lenders, most of whom I’ve never met. I’m guessing a few dozen lending companies have “scraped” my email address from my newsletter or website, and now inform me regularly either how easy it would be for me to get a loan, or that a loan just closed for someone else. (“Scraping” is the term for manually acquiring information from sources without necessarily getting consent to use it for contacting someone.) [Read more…]