The money is in the List – Really?

TheMoneyistheList

Everyone's been telling you that!

Everywhere you turn you hear the saying that the money is in the list. And while that can be true, list quality is also part of the winning approach. A lot of business owners have large lists that are barely profitable. There are also some very savvy marketers out there with tiny lists that make a comfortable and dependable full-time income. 

Maybe there’s a little clarity needed here. The money really isn’t in the list, but in your relationship with your readers. The money is made when you attract the right people, earn their trust and then provide them with the right offers. Let’s break that down a bit more. 

Before you start your list, you should have a pretty good understanding of the niche you are in and who your ideal client is. Then you’ll want to find out as much as you can about this group of people. What do they like, what do they do, what problems and challenges do they face and how can you best help them. 

You might want to review the "Why it's important to know your subscribers" post here for more context.

As you learn more about your market, part of your review will be making note of where they hang out, online and offline. Are there active Facebook groups? Blogs they read and comment on? Forums they chat in? These are the places you will want to become active in yourself. Your intent is to be helpful, to share advice, and eventually guide the readers back to your site and invite them to join your list. 

That’s when your relationship building work starts. From the welcome email (you do have a welcome email that is sent out automatically when they join your list, right?), start building a relationship with your readers. Share helpful advice, but also let them get to know you. Show them that you understand their problems, have gone through them yourself. Encourage them to share their own stories and ask questions. In other words, build a relationship with your subscribers and start to earn their trust and loyalty. 

During this process, you’ll be able to gently start to introduce some offers in your emails. Don’t be pushy at first and if you can, find some “no-brainer” offers for your readers. Or create your own. You want to start them off with a few lower priced, but high-value offers. If they are affiliate offers, be sure to test and review them. You want to send high quality offers to your list. The idea is to teach your readers that when you send out a promo, it is something that’s worth looking at and if it’s a good fit for them, buy. 

You’ll need to put your subscribers first and share helpful content mixed with valuable offers, and taking these points into account will help you build a highly valuable and highly profitable email list in as short time. There’s also an added bonus.  You get to help your people and grow a loyal following.

Will you be reviewing your list-building approach in the near future?