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Having said that its still a bad idea. I would suggest that the vast majority of business owners are not interested in unsolicited messages even if they are relevant. A list gained through opt in will always out perform a scraped list.

Is it a bad idea? I have no idea.

On the face of it, I would agree that having opt ins is better, but I can find just as much to show it works as that it doesn’t work. (Ah, the marvels of the “fact” filled internet.)

The result of any form of marketing varies depending on a whole heap of things from directing to the right people to the quality of the content. Even a poor heading will reduce the chance of an email being read.