Is The Money Really In the List?
I was networking earlier this week and I was told by lots of people that email marketing is dead. Yet when I asked what made them think that, or what evidence do they have for this they couldn’t give me a valid reason!
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The truth is email marketing is not dead.
Email marketing generates about 40 times the investment when you do it right. Yes, for every Pound, Dollar or Groat you invest you’ll get 40 times back. Plus, those who have built good email lists report that they get over half their website traffic from their email marketing efforts. That’s just one small reason it’s important to invest in email marketing.
There are a lot of other reasons for email marketing including:
- You own your list. When you build an audience on social media you don’t own that audience. But when you build an email list you own it and they are your customers or your prospects for as long as the subscriber chooses to stay on your list.
- You can move your list. If you have a problem with your email service provider you can change it to a new one and move your list legally if you have used double opt-in methods to build the list. That makes it easier to choose tools that benefit your business and your customers.
- You can market to your list. When you own the list you can market to them in a manner you desire if it meets the laws and rules regarding spam and GDPR. Essentially, this means that you get permission to market to them and market to them with products and services related to what they subscribed for.
- You can engage with your list. These are your people. They’re your group. They’re your tribe. You can open that email list to replies and have conversations with your list members. Plus, you can easily invite them to other platforms and communities that you value.
- You can build relationships with your list. By speaking to your list members as part of your community you can build relationships with them. If you send good information and show them that you’re going to send good and relevant information to them they’re going to open your emails and they’re going to click the links you provide and engage with you outside of email too. Your subscribers will also make recommendations to you if you ask them!
- If Facebook or Twitter goes down, you can still reach your audience. This may seem like something that will never happen but there are many platforms that have disappeared over the years. If you don’t own it, it can be taken away.
Once you build a targeted email list you can essentially give yourself a raise whenever you want to simply by telling your list about a solution to their problems whether it’s a solution you created or a solution someone else created.
To help you create the best possible lead magnets I’m going to share a series of blog posts breaking down all the little things. In this series of articles, you’re going to learn the best way to build your email list so that you can build profitable relationships with your audience. We’ll start by creating and marketing a lead magnet.
A lead magnet is an ethical bribe that you give to your subscribers
It’s a transaction – they’ll give you their email address and possibly other information too in exchange for the lead magnet.
You will then build the relationship with your subscribers and find out that money isn’t actually in your list but in your relationship with your list.
Those that think email marketing is dead thought this because they just want to push their content onto their subscribers. They don’t get the results, so they push harder. Then their subscribers leave in droves… It’s now a self-fulfilling prophecy – If I did this and it happened I’d think email marketing was dead.
If you thought you could build your business using only social media or Facebook ads then following this series is just what you need.
By the end, you’re going to have a good start on your email list and you’re going to start seeing traffic improve, sales improve, and your business will snowball and become sustainable no matter what happens to any particular social media platform.