Are you considering building an email list, but have some doubts about why it is needed? Many online business owners do not realize the power of building an e-mail list when they are starting out.
One of the main reasons for building an e-mail list is because this is traffic that you control and own.
It is important that you build an email list because you want to build an audience and develop a relationship with them. If one of your goals is to make money online and make auto-pilot commissions is that you’re going to have to serve your audience by solving a problem.
The bigger your e-mail list, the more money you can potentially make. Provided that your audience is targeted and suits your niche.
Why is building an e-mail list important?
- E-mail is personal
- E-mail is purposeful
- E-mail is targeted
- You own your e-mail list
- E-mail is one on one
- More people use e-mail several times a day
What is the average E-mail subscriber value?
Email subscriber value is the most important metric for list building. It’s more important than your opt-in rate or your unsubscribe rate.
Why?
Because you aren’t doing this email marketing thing as a hobby. You’re doing it to make money.
Every list building tactic has a cost. Maybe it’s “only” a time cost, but that’s a cost, too.
Once you know how much an email subscriber is worth to you, then you’ll be far better informed about which list building tactics are worthwhile.
Each email subscriber is worth $ 1 per month (i.e you can make $ 10,000 a month from a list of 10,000 subscribers).
Take that figure with a grain of salt. Or maybe a pound.
Here’s what it would take to pull that $ 10,000 a month off.
Let’s first break it down by week.
You have to earn $ 2,500 from your list of 10,000 each week.
With an average click-through rate of 3.5% (per Active Campaign), you’d get 350 clicks coming to your landing page/product page.
With a 2% conversion rate (that’s average), you’ll get 7 orders. To make your $ 2,500 that week, you’d need to make $ 357.14 off of each order.
If you are seasoned vet, consider this: You get a 5% click-through rate, resulting in 500 clicks to the landing page. You get a 3% conversion rate, resulting in 15 orders. You still need to make $ 166.66 profit from each order to make your $ 2,500 goal.
The goal should be to aim for $ 1 per subscriber per month goal. Provided that you give value and massively serve your audience this is very do-able.
In this video, I talk about how to build a big e-mail list, and how to monetize it. This may be the most important video that you watch because it can either make or break your business.
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