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about the conversions...that depends on who your target is ofcourse...If it is just emails that are generated by a bot that goes harvesting emails on the net(and not single or double optin) then you are prolly looking at 1/5 or 1/4 of 1 PERCENT of your emails converting! Now, that may seem like nothing(and it is virtually nothing) but if you are doing alot of volume, it can be good.
I am not sure what the numbers are on single or double optin email, but Im sure it is much better than just email harvesting spam.
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