In a world where new platforms or must-do marketing tactics crop up almost weekly, it’s easy to get swept up in all the hype.
Wanting to find something new that’s the big secret to skyrocketing your business is only natural, but before you add shiny objects, you need to nail the marketing basics.
There’s nothing more foundational to your digital marketing master plan than your email marketing list. While platforms and tactics come and go, email marketing remains the most effective way for most businesses to build their know, like and trust factor.
Even here in 2016, email marketing has the highest ROI of all other marketing channels. So, while it may be oh-so tempting to chase shiny objects, if you really want to grow, your email marketing may need a little more TLC this year.
Why Are You Building Your List?
Time for the hard truth. Email marketing only works if you actually do it. Too many times businesses, from retail to restaurants to coaches, hustle to collect email addresses with no plan about what they’re going to do with those email addresses.
If you’re going to build your email list, you need a plan to back it up and be clear on why you’re actually building your list in the first place.
Collecting emails and letting them languish in an email marketing program because you’re saving them for a rainy day defeats the point.
The moment when someone opts-in to your list is the moment they’re MOST excited about your business. They’re ready to learn more. So you need to have a plan in place to nurture them so they get to know you and want to do business with you.
Once you know why you’re building your list, it’s time to get serious about digital marketing and building a business with an online presence. Here are a few considerations:
Start Building Your List BEFORE You Need It
List building takes time, which is why you can’t decide you’re going to launch an online program in a month when you have a teeny, tiny list.
Too often I have people come to me with fantastical launch plans for their signature program, but when we dig in, the math just doesn’t work out. An average “conversion” of subscribers to a buyer is 1%.
That means if you have a list of 500 people, you’ve got 5 buyers.
While having 5 customers is nothing to sneeze at, you need to make sure investing in a launch makes sense and your goals are firmly tethered to reality.
If you’re going to launch anything online, you need to focus on building your list months, if not years before you’re ready to go. That gives you time to find the right-for-you customers who know, like and trust you. Which brings me to the next point.
Don’t Let List Size Hold You Back
Hands down, when it comes to digital marketing if you’re selling online, email marketing is the MOST effective way to make sales.
There’s a saying that “the money is in the list.”
But that’s not always the case. For there to be “money” in your list, you need to be committed to delivering value to your subscribers week in, week out. (More on that in the Newsletter Map which you can grab for free here.)
While I’m a firm believer that email marketing works and it is the highest ROI marketing tactic around, it’s not the only way to build a business.
It all comes down to what you’re selling. If you’re offering services, your list may not be how you bring people to your door. Referrals, introductions, networking or other means may be where the “money” really is.
That’s what’s worked for me over the past year and I’ve built a multi-six figure business with a small list. The nature of my work hasn’t required a “big” list for me to find new customers and sign new clients.
If You Can’t Be Consistent, Size Doesn’t Matter
Email marketing is a staple of the work I do on a day-to-day basis, which gives me a unique perspective on email marketing.
I literally get to see the inner workings of my client’s businesses, and when it comes to list building, the #1 predictor of success isn’t always list size.
Yes, bigger lists offer the opportunity to reach more people and make your offer, but if you can’t be consistent, it doesn’t matter how big your list is.
I’ve seen small lists defy the odds because the offer was amazing and the value leading up to it was nothing short of amazing. I’ve seen big lists completely fail at launch time because they didn’t bother to communicate with their community for months leading up to the launch.
It all comes down to trust. When it comes to online marketing, people have fewer cues when it comes to making a decision to do business with you. Consistency breeds trust in a deep and meaningful way, especially if you’re of service and deliver real value week in, week out.
Being successful with email marketing really comes down to three simple things: getting clear about your goals, being realistic about what it can do for you and breeding trust with consistency.
Want more strategies? Then you’ll love this free resource below to help you get more out of your email marketing: