This is a book that may be worth taking a look at, its called Permission Marketing. Amazon says you can get a paper back version for under 4 bucks. But even googling the concept will probably yield great results. Here is the description from amazon
The man Business Week calls "the ultimate entrepreneur for the Information Age" explains "Permission Marketing" -- the groundbreaking concept that enables marketers to shape their message so that consumers will willingly accept it.
Whether it is the TV commercial that breaks into our favorite program, or the telemarketing phone call that disrupts a family dinner, traditional advertising is based on the hope of snatching our attention away from whatever we are doing. Seth Godin calls this Interruption Marketing, and, as companies are discovering, it no longer works.
Instead of annoying potential customers by interrupting their most coveted commodity -- time -- Permission Marketing offers consumers incentives to accept advertising voluntarily. Now this Internet pioneer introduces a fundamentally different way of thinking about advertising products and services. By reaching out only to those individuals who have signaled an interest in learning more about a product, Permission Marketing enables companies to develop long-term relationships with customers, create trust, build brand awareness -- and greatly improve the chances of making a sale.
In his groundbreaking book, Godin describes the four tests of Permission Marketing:
1. Does every single marketing effort you create encourage a learning relationship with your customers? Does it invite customers to "raise their hands" and start communicating?
2. Do you have a permission database? Do you track the number of people who have given you permission to communicate with them?
3. If consumers gave you permission to talk to them, would you have anything to say? Have you developed a marketing curriculum to teach people about your products?
4. Once people become customers, do you work to deepen your permission to communicate with those people?
And in numerous informative case studies, including American Airlines' frequent-flier program, Amazon.com, and Yahoo!, Godin demonstrates how marketers are already profiting from this key new approach in all forms of media.
Email can be useful, but for it to work for your business you have to devote some serious effort to it. The wrong way would be to purchase an email list and start emailing (in that case, you're no better than a spammer -- those people haven't consented to receive your emails, and you'll likely be filtered out by them or burn goodwill).
The "white hat" way to do it is to collect email addresses by having a sign-up or squeeze page, and using double opt-in to ensure that your prospects actually want to receive your emails. With a process like this you'll have a WAY better open and response rate, since anyone you email has consented and is interested in what you have to say.
If you're interested, books like Permission Marketing cover this kind of thing in-depth.