How Value Exchanges Grow Your Contact Database

Growing your contact database isn’t always easy. The average person receives 100 to 120 emails per day. People want a reason to provide you with their contact information. So, give them a reason. Create a value exchange.

A value exchange is exactly what it sounds like: exchanging one value for another. In exchange for their contact information on your website, your organization provides something valuable like exclusive content, tools, or resources related to their interests. This can include templates, reports, guides, discounts, early access to products, invites to special events, and more, making it worthwhile for contacts to opt in.

A contact database built on mutual value is more successful than one built on coercion. Rather than demanding contacts share their information, incentivize them by providing value in return. Demonstrate how participating benefits both parties, so contacts feel their involvement is worthwhile. When contacts freely opt-in knowing the advantages, the resulting relationships become higher quality and mutually beneficial. Voluntary participation yields better data and touchpoints, so focus first on the value you can provide, and the quality contacts will naturally follow.

For example, you are a Kilimanjaro tour company looking to boost your contacts. What information can you supply contacts about hiking Mt. Kilimanjaro? You decide to create a training plan to get people ready for their hikes with an additional packing/gear list. People typically only hike Mt. Kilimanjaro once, so they likely don’t know what they need to do to prepare for their trip. They receive insider knowledge, and you receive a contact that you can include in your email marketing efforts. It’s a win-win for all.

When creating a value exchange resource, start by thinking about what would truly be useful, interesting or helpful for your audience. Don't just create content to promote your product - provide information, insights, tools or entertainment that your audience will genuinely appreciate.

Brainstorm a list of topics your business is knowledgeable about. Would you be able to provide a step-by-step guide on how to do those things?

For example, if you sell accounting software, create an ebook on small business tax tips or a checklist for organizing finances. If you have an office furniture company, make engaging videos on how to optimize and design office spaces.

Make sure the resource is tailored for your specific audience. Include keywords and phrases they would search for and frame the information in a way that speaks directly to their pain points and interests.

Give content away for free to gauge its value. If you’re unsure whether or not people want a report or guide, offer it for free on social media or as a download without filling out a form. Measure performance and if there are a lot of downloads, shares, and likes, then there is clear value.

Once you have proof, gate the content moving forward to start generating contacts. This means putting your content behind a wall, so people have to fill in their contact information in order to download the content.

Now it’s time to promote the resource heavily in your marketing channels through social media, email, paid ads, and search engine optimization. Don't just link to it and expect people to find it— actively put it in front of your audiences who need it most.

Value exchanges most often live on your website, behind a gate. Make access to the resource conditional on providing some information of value to your business. This could be an email address signup, survey completion, or exchange of contact information. Just ensure you clearly communicate the value exchange upfront. 

Some people are bound to find your value exchange via search engines. Where else can people discover your resources?

Posting sneak peeks of your value exchange on social media allows people to find your resources without necessarily realizing it was exactly what they needed. Instead, they might stumble across your post and realize your value exchange can help them. Posting value exchange announcements and creating digital ads lets you expand your reach and helpfulness to followers and non-followers.

Have a blog post that’s relevant to your value exchange? Link it! Internal linking across your site is a great way to drive traffic to specific blog posts, resources, case studies, and other pages. Additionally, consider having a pop-up on relevant blogs so people can easily access your value exchange.

Share value exchanges with your current audience to verify your abilities regarding your products and services. If your resource is truly valuable, they may send it along to coworkers and others within their network, thus growing yours.

Get creative with your value exchange distribution! Think of where you see valuable resources. How can you replicate the ones that attract you?

When people exchange their email for your resource, it’s important to follow up with them. Contacts want to be front-of-mind with the businesses they use. Even a short email welcoming them to your business is enough to engage your audience.

Email automations are a great way to send personalized emails when a user activates a trigger. With automation, you don’t have to constantly monitor your value exchanges, but contacts will feel connected with you nonetheless.

With this approach, you provide value to your audience, building trust and establishing your expertise. In exchange, you gain valuable leads and customer data to drive future marketing and sales efforts. It’s a true win-win.