Why You Need An Email List ~
An email list is the fundamental and most essential asset for any online business. By building an email list, you are inadvertently laying the foundation for a profitable and sustainable business in the online marketing industry. However, a majority of online businesses often get their fundamentals wrong. Rather than focusing on the collection and building of an email list, they place an unwarranted precedence on traffic generation. This is contrary to the popular adage in the field of online marketing; ‘The money is in the list’. As such, if the incoming traffic is not converted into an email list, you will be undermining your efforts in the creation of a successful online venture.
However, having a big email list does not necessarily guarantee burgeoning sales and profits. If the money were actually in the list, scammers would be billionaires. But we all know that this is not true. A more accurate adage would thus be; ‘The money is in the relationship with the email list’. Understanding the needs and desires of your subscribers and targeting them accordingly is a guaranteed recipe for success in the internet marketing industry. If you provide value to the list, it will inherently create and perpetuate your relationship with them, which will then make them more susceptible to purchase your product or service. It is therefore the relationship that will pay you rich dividends for an indefinite period of time.
Paid Traffic – Highly targeted customers for a relatively inexpensive amount
A major hurdle experienced by most online businesses is in building a responsive email list. You might have a list of 30,000 subscribers, but your potential income is only realized if your subscribers open the email, click on the link and purchase your product or service. The average email open rate of online businesses is around 20%. However, this rate can be increased by directing laser-targeted traffic to your website. But targeted traffic can often be difficult to procure by utilizing free traffic mechanisms. As such, to get highly targeted customers you must look into purchasing your traffic. With paid traffic the average email open rate shoots up to 50% as most of the visitors are genuinely interested in purchasing your product or service. The cost of purchasing your traffic should therefore be considered as a capital investment that will be greatly offset by the revenue and profits that it will fetch your online business.
In order to convert paid advertising into a long term profitable business, you have to focus on 3 things;
1. Generate an email list through advertising.- By offering something for free you will be enticing the target audience who will be most benefited by your product.
2. Use Good Marketing and Salesmanship to convert these leads into customers. You need to show them the benefits of your product or service.
3. Delighting your customers by having exceptional customer service and a good product.
What you need to create a responsive email list
Building a responsive email that consists of a substantial number of subscribers should be the top priority for an online business. Once it is in place, you can then focus on generating substantial profits through pitching and up-selling to your subscribers. But to build the email list you need to have the following entities in place:
1. A web Domain
2. A Hosting account
3. A Bribe – something you will be giving your subscribers for free.
4. Email management system or Auto-responder
5. An Opt-in page
6. Thank You Page
A lot of effort is required on your part as the business owner to set-up the aforementioned entities. But the cost and effort involved in setting them up is negligible to the income that they will generate for you in the long run.
How to get highly targeted subscribers in your email list?
Anybody can build a list. But the difficult task is to get your prospective customer to be a part of the list. But in the vast ocean that is the World Wide Web, where will you find your target audience? A simple yet eloquent source is blogs. Blogs are a popular destination for customers who are looking for highly opinionated views on the latest news and developments in any niche. And most of the blog owners have an email list of all their subscribers. Therefore, a blogger in your target niche would possess an email list with your prospects. These prospects are your target customers as they are highly interested in purchasing a product in your niche. And if you can convince them through your pitch that your product is what they are looking for and how it will benefit them, then you are on the path to creating a successful online business.
The Other People’s List (OPL) Method – Highly targeted traffic for an inexpensive rate
The OPL method is an often overlooked yet vitally important technique for the procurement of highly targeted customers to your online business. If you don’t have a list or don’t know how to get one, then this method will help you in building a highly responsive list for your online business. It is inexpensive and effective for all niches and the consistency with which the OPL method provides substantial amounts of laser-targeted traffic is truly commendable.
As the name suggests, in the OPL method, you will be getting prospective subscribers from a compiled list of another marketer, blogger or business. But before you do so, you need to contact them through email and ask for permission to use their list in return for a monetary compensation. Such types of advertisements, called Solo Ads, are a predominant source of communication with your target customer, especially if you are just starting out in the online marketing industry.
Upon successful negotiations, you will then be able to send your advertisement to thousands of potential subscribers. If your advertisements appeals to them, the link in your email should direct them to the landing page where they will be captured into your email list.
It is worth the time to identify the needs and desires of the person that makes up your ideal customer and your advertisements should be genuinely geared towards fulfilling their desires or goals. When you do so, building and collecting an email list becomes an effortless task. Helping your customer get what they want is thus the ideal foundation for the prosperity of your business.