The money is in the list.
A phrase that is used ever so often by online marketers, and in fact, has proven to be true over the years. It shows a correlation between email lists and the profitability of any online marketing venture.
The concept of lists did not start today. It has been around since the early days of direct marketing. In the words of renowned copywriter Gary Halbert:
“ If you are actively engaged in direct marketing, your customer list is by far the most valuable asset your company will ever have. ”
These words hold true even in this day and age of digital and online marketing. Only this time, there has been an evolution from direct mailing lists to email lists. Nonetheless, the money is still in the list.
Firstly, what is an email list?
According to Wikipedia, an email list is a special use of email that allows for the widespread distribution of information to many Internet users. Simply put, it is a list of email addresses gathered from different sources.
Email lists are the core of email marketing. For the record, email marketing is still as viable today as it was years ago. A recent report showed an average return of $36 grossed for every $1 spent. That is a whopping 3600% ROI. Impressive right?
Yes, we live in a social media era where our means of communication are constantly evolving. But ignoring the efficacy of email lists to drive sales, conversions and engagements denies you potential benefits for your business.
Here are some of the reasons you need an email list:
Reason #1: Streamlined communication
The marketing world would barely exist without communication. For instance, think about all the leads you will lose if you just let them wander around your sales pipeline without communicating with them. The same goes for pre-existing clients. To build customer loyalty and minimize your churn rate, you must maintain constant communication with your subscribers.
This is one of the plus sides of having an email list. It serves as an effective communication stream between you and your audience.
Effectiveness of email communication
Let’s face it. Not all your social media posts will reach your audience. Remember, a sea of social media content gets put out every day. Chances are, your target audience may miss or scroll past your post without engaging.
On the other hand, with a few clicks, you can have your well-drafted email delivered almost instantly to a recipient’s inbox. When it comes to reaching your audience, the statistics prove the effectiveness of emails:
- 99% of email users check their inboxes every day, with some checking 20 times a day.
- 74% of Baby Boomers think email is the most personal channel to receive communications from brands, followed by 72% of Gen X, 64% of Millennials, and 60% of Gen Z.
- 64% of small businesses use email marketing to reach customers.
With these stats, it is safe to say that building an email list is a top priority. It is vital not only for sales and conversions but also for engaging with your audience.
This is not to say that social media is not an effective communication tool to have in your arsenal. But it should not take your focus away from your mailing list.
Emails have a great way of sparking conversations with your audience. And ultimately, they have the potential to foster long-term relationships, which leads to client lock-in.
Reason #2: Keep your website visitors coming back
Did you know that 75% of your website visitors will most likely never return? This means that your hard-earned leads may leak out from your sales pipeline unless you do something to keep them coming back.
A good solution for this leak? You guessed it, an email list.
A casual visitor who signs up to your mailing list will need some nurturing to become a regular visitor. A timely email gets the job done. It could be an invitation to proceed to check out, an email with a link to a new blog post, etc.
Reason #3: Ownership and control
An email list gives you a sense of absolute ownership and control.
For starters, you built the list through your website or lead magnet. Your sign-ups subscribed voluntarily, which is the permission you need to stay in touch (this is not an excuse to flood their inboxes with emails every second).
This is not entirely the case with your followers on social media. Yes, they follow you, but you do not reserve the right of ownership. The companies that own the platforms do.
As you may already know, these platforms constantly update their algorithm. And there are different ways these updates can alter your communication with your followers. But your email list, your rules. Even though you still have to comply with the general mailing rules, you have some measure of control. I’m sure you get the drift.
6 ways to make the most of your email list
By now, I’m guessing you are psyched about building an email list if you don’t already have one. But there is something else you must know. Having an email list is not an automatic guarantee boost to your cash flow. You have work to do if you want to tap into the wealth residing in your email list.
Not to worry, I have put together a list of 6 proven ways to make the most of your email list. Let’s dive right in.
- Create valuable email content for your subscribers
Humans are, uh…kinda selfish. It is in their nature to want to benefit before parting with something of value to them–whether it’s their time or money.
You don’t want to come off as a pushy salesperson shoving products and services in their face every minute. People hate that and will not hesitate to unsubscribe from such emails (I mean, I would).
Do you want to encourage your subscribers to bring out their credit cards? The secret is providing them with valuable and consistent content. It could be excerpts from a blog post showing them how to get something done or weekly tips to get better results.
However you choose to do this, the goal is the same–to subtly convince your subscribers of the value your products or services will bring to their lives. You want your emails to be something your subscribers anticipate with excitement, knowing they will get some value out of it.
- Take advantage of social proof
There is something about seeing other people’s results that validates the means through which they achieved them. This is the power of social proof. If you want your subscribers to trust the credibility of your business or brand, you have to take advantage of social proof in your emails.
It helps to share success stories or testimonials of other people who benefited from whatever you are offering. One good place to start is with case studies. There are many reasons why you should be writing case studies. One of them is that it gives your subscribers the power to discover your solutions for themselves.
- Segment your list
Your email list will comprise of different people with diverse interests and preferences. It is in your best interest to gain insight into the specific needs of your audience to create customized experiences that resonate with them. The best way to do that is through segmentation.
Segmentation is simply the act of breaking down your email lists into smaller segments based on similar interests and preferences. This helps you communicate more effectively with your customers. Reports show that marketers who segment their email campaigns record as much as a 760% increase in revenue.
A great place to start is analyzing the personal information your sign-ups provide when they subscribe to your email list. You can leverage this data to create several different segmented groups. For example, you can create segments based on any of the following:
- Demographics — age, gender, location, etc.
- Behavioral patterns
- Open rates
- Purchase history
Once your email list is segmented, you can start creating email content targeted towards each segment. The results of this have proven to be profitable. A report showed that through email list segmentation, 39% of marketers experienced higher open rates, 28% experienced lower unsubscribe rates, and 24% experienced greater revenue.
- Create personalized experiences for your email subscribers
One of the reasons to segment your email list is to make personalization possible.
Humans naturally crave special treatment. They want the feeling of being seen and understood. This is why personalization works wonders in marketing. For instance, a survey conducted across different industries showed that 72% of consumers only engage with personalized messaging.
A one-size-fits-all approach to your messaging may not fly with your email list. Instead, your goal should be to create tailored messaging for each individual. Creating personalized experiences for your subscribers pays off big time.
- Utilize the power of social sharing
If you play your cards right, your email list can grow into a community of loyal subscribers. Their engagement with your content can also become powerful tools for spreading brand awareness. And social sharing is the way to go.
Adding social sharing buttons to your emails gives your subscribers an easy way to share your content with their social networks. This can be a share button to Facebook, Twitter, Instagram, Et cetera.
Imagine how far you can extend your reach when your subscribers share your content with new audiences on their social media. Chances are, you will have new leads engaging with the content and subscribing to your email list.
- Use email automation
Email marketing, when done manually, can be very tedious and time-consuming. This is especially true when you have a large email list.
For instance, how long will it take to create personalized emails if you have an email list with 20,000 subscribers? One week? Two? You will be exhausted, that’s for sure. To maximize your email ROI, you have to give your subscribers a worthwhile experience. It is one of the keys to driving sales and conversions.
This is where automation comes in. Email automation is a marketing technique that uses automated workflows to send timely emails to a list of people.
Email automation saves you time and makes it easier to serve your subscribers better. With email automation, you can:
- Nurture your leads better.
- Send transactional emails promptly.
- Create personalized experiences for your subscribers.
- Onboard new sign-ups.
Final Thoughts
Building and growing an email list takes time and commitment. You need to consistently think of creative ways to add value for your subscribers. The tips outlined above will help you optimize your email list to get better sales, conversions, and engagements.
If you are looking to take advantage of the power of case studies to establish your expertise, GoWP has a done-for-you case study service. Our case studies are results-driven, and you’ll have everything you need to start nurturing the subscribers on your mailing list. You can schedule a call with our team to go over the service in more detail.
