When I first started out online I quickly learned the mantra “the money is in the list.” I heard that all over the forums and so I decided that list building would be the best way to go.
You often hear people describe a list as a “lifetime asset” but I recently learned that the average lifespan of an email address is around 2 years (Charles Kirkland ). So, technically the clock is ticking from the second you get someone on your list. You have a limited time to sell something to them and without a decent strategy you’ll miss your window of opportunity and render the whole exercise pointless.
In this post I’ll share 2 strategies you can utilize to turn email addresses into cash. Please don’t take this stuff lightly, because these are the strategies I have used to double and triple my income in the past.
1. Build the Relationship.
There are 4 parts to this.
You must build trust and you can do this by being honest. If you promote a product, remember to talk about the flaws as well as the benefits.
Be consistent. Your list needs to know what to expect from you. Some people mail offers every single day, get great open rates and make buckets of cash. I didn’t believe it was possible until I saw the stats firsthand.
Some marketers mail out offers quite infrequently, and in-between promotions, mail out gifts, blog posts or other free content to keep the list “warm”. This is a great strategy also. The point here is that you must be consistent or your audience will become confused about your offerings.
Show that you’re an authority. Whatever your niche is, you will definitely improve your sales by appearing to be an authority on the subject. Most of the time this happens organically as you research and write on a particular topic.
Infuse your own personality into your emails and don’t be afraid to give away personal information (for example, the fact you have a beloved cat, not your bank details). This will build up the likeability factor and will make you much more memorable to your subscribers.
2. Buyers Vs Freebee Seekers.
This is something I learned the hard way. My first attempt at list building in the ’make money’ niche was based around getting SEO traffic and putting them into a sales funnel. Then, each email gave them some good information and linked to my offer.
The benefit here is that the leads were free and it all worked on autopilot, once the site was ranked. But, sales were pretty low. I’m sure I could’ve refined my funnel and found a better offer but in the end I stumbled upon a much stronger way of building a buyers list.
You see, a list of buyers is much more powerful than a list of people in a niche. But how do you target buyers specifically? Here are 3 strategies I’ve used myself.
The first one is to make a product and offer 100% commissions to affiliates. If you price the offer low enough you’ll get tons of sales and you can then promote similar things to that list of proven buyers that complement your original product. This method brought in my first ever $800+ day.
The second way is to approach a merchant and ask if you can buy a mailing to their list (known as a solo ad). This can be expensive, so you better be sure you have something unique to sell. We used this method for our forex membership site. We spent $3,350 getting 3 different list owners to mail out for us. The launch is actually going on as I write this, and most prospects are enjoying a weeks free trial of the service, but in the first 24 hours we made over $1000, from people looking to lock in their membership, so we expect a big pay day at the end of the trial.
A third possibility could be to offer a report or ebook for $1 on your website. Although you’ll get for fewer leads, you know that the ones you have are quality. The thing that most people don’t understand is that people don’t value free things, so attaching a price means they are more likely to actually read the report. Just make sure you include another offer or up sell in the report or you’ll need to sell a lot of $1 reports to make a living.
Final thoughts . . .
The strategy you use really depends on your own business model, but the basic elements remain the same. Build the relationship and concentrate your efforts on finding buyers. This has helped me enormously over the last year and I’m sure it’ll help you too.
About Jimmy Wrex
Jimmy Wrex is a Niche Experimenter. You can find more traffic and conversions tactics over at his blog, NicheExperiments.com, where he and his buddy Pete blog about their niche marketing experiences and generally lark about.