048: Email Marketing: Are You Building a Buyer’s List? (Or Any Kind of Email List At All?) and the “Why Didn’t You Buy” Email

Remember this: Your customers get trained to open your emails. Your customers get trained to buy from you. Your customers get trained to attend your webinars. Whoever has the biggest email list wins. Facebook and Twitter followers are not that list. https://www.youtube.com/watch?v=wA_ajtl4Z7g Think about that for a second. You can post all day but who has the biggest list in the world? Facebook. When you're on Facebook, don't you receive emails from them AT LEAST weekly? Even if a customer opens your website or followers check out your Facebook page, all of the most popular sites (Amazon, eBay, Netflix, Facebook, Pinterest, Instagram) use email lists too. "It worked so well, I stopped doing it."In other words, don't neglect your list. When we first start out doing something, sometimes it goes so well that we get lazy and we backslide. Then, we start losing income and we have to work twice as hard to get to where we were. Numbers, Numbers, Numbers A lot of people are shooting for the wrong kind of numbers... It's not a big achievement to say you have a 0% refund rate if your website says absolutely no refunds and you spend your time ineffectively arguing with customers over $5 and $10 transactions. Don't waste your time moving people from one list to another to achieve a "false" click-thru rate: Say you have a list of 10k subscribers. Many people send out an email saying something like, "I have a new course coming up soon and I don't want you to get bombarded" so "instead, I want you to go join this other list to be on the exclusive XYZ launch list." They'll send their subscribers to that new list to sign up for the launch. Let's say out of your 10k subscribers only 100 sign up on the new list. That's a really small amount... When they announce the launch, 80 of those 100 click on it and they have an 80% click thru rate. In reality, your total interested subscribers are really only less than 1%. It's a lot of unnecessary steps. A better use of your marketing is to get 100 new subscribers per day to your EXISTING list. How? Add some exciting content to your blog, like videos. Then, on the sidebar, you say something like "if you want to get exclusive articles, sign up here" and then you create the opt-in page where you offer a free report of your best few pieces of content. Now, you have additional potential customers on your list. The service you use for this is called AWeber. AWeber is a permission-based (i.e. your customers "opted in") email marketing system... $1 Dollar Visitor Value This means that when you average everything out, when someone lands on your webpage, you want that visit to be worth $1. If you're selling something for $100 you want that to convert at 1% to equal $1. If 100 people go to your webpage and you have a $100 product you want at least 1 buyer for that $100 product. That's why you want 10k subscribers, at a minimum, so if you have a $1 per visitor value you still make that $10k per month. Daily 1% List Decay Your email list is going to decay every day by 1%.If you have a list of 10k people, you can expect to lose 100 people per day. At first, that goal of adding 100 people a day we talked about earlier sounds like a lot, but at some point it will level off in that if you're losing 100 people per day but you're gaining people at 100 per day you are still at a net list of 10k. Expect a 2% click thru rate list-wide. That means if you have 10,000 subscribers, expect 200 people to click thru when you send an email. If you have a $100 product for sale that is moving, then you can expect at least $200 a day in sales just from 2 people at a product that's $100 each purchase. Then, if you email your list about the same product for the next 5-7 days in a row, the rate of clicks remain about the same. At a 2% click through rate, if you sent out 10 emails on that same product,