Think list building isn’t important for your online business? Here are 2 truths and a lie that may change your mind.
List building. Everyone talks about it, but do you really know why it’s so important for your business?
If you’ve been here before you know how I feel about traffic that you own. The ability to direct your audience can make all of the difference in the world to your marketing, but how is it done and why is list building just so important?
There’s talk around the neighborhood, so knowing how list building can help your online business isn’t just about e-mail marketing, did you know that? Or am I talking smack? Let’s dispel some rumors as I give you 2 truths and a lie about list building, do you know which is which?
Rumor #1: E-Mail marketing is dead
Smart Insights reports a 23% or more for email open rates in 2018. Think about that for a second. If you had a list with 10,000 people on it and 23% opened your emails, that’s 2,300 people who open those story-selling pieces of electronic communications. If your click through rate was only 4%, that’s 92 people who land on your sales page or wherever you lead them. If your sales page converted at 20% that would be 18 sales through email marketing alone. The bigger the list gets, the bigger that number gets, too.
I can also tell you that a list of 10,000 uploaded as both a custom audience as well as a look a like in the ad platform will equal an ad funnel that converts, if set up properly.
E-mail marketing is not dead so that is truth #1.
Rumor #2: List building costs money
It does. Rapid fire testing a lead magnet alone can run you around $300, and that is just the process of vetting your offer. Afterwards, you’ll need an ad budget to build that list. While organic shares and inbound marketing can be effective, there is nothing more effective than putting an ad in front of your ideal buyer – it builds your list faster and should be considered an investment in your business. If you don’t have a list and audience building budget for the top of your funnel, you’ll light a pile of cash on fire if you think you can run an ad to sell your course or program because people just do not buy from people they do not know. Build your list and keep your e-mail marketing ascending your audience through the decision making process. Both ads and e-mail sequences go hand in hand in the warming up process where you are building the know, like and trust factor.
List building is an investment, so there is truth #2.
Rumor #3: Your e-mail list is only for e-mail marketing
I can see where you would think this, but not only can to speak directly to the audience you’ve created in your list, but you can create audience for Facebook ads. That means that you can take your list, upload it into the ad platform and put an ad directly to the people on it. You can also use a little magic and create what Facebook calls a look a like audience and put ads in front of the people with the same characteristics as those on your list. Cool, huh? This is one of the most effective ways to increase your list and get reach those who are most likely interested in what you have to say. Let me tell you, the bigger that list gets, the better your ads perform as well because warm audiences BUY.
So there are 2 truths and a lie about list building as well as why it’s so important and should be considered an investment in your business. If you can’t invest in your business, should you even be in business?
I come across people every day who balk at the cost of building a successful business, but someone told me that if you are standing in front of a mountain of gold, you shouldn’t quibble about the cost of a shovel.
Unsure how to start your e-mail marketing? Here are 2 very effective e-mail sequence strategies to help warm them up on autopilot 🙂