How To Avoid Losing Money Building A List
You now know that having a mailing list is crucial for your internet success. No? Well, read my blog at www.internetmarketing-tactics.com/blog.html.
It's kinda hard to say how much money you can make from a mailing list. I've done promotion with less than 2,000 click through's and generated over $10,000 USD. At the same time, I've made less than $100 USD from 500 clickthroughs.
Isn't that weird?
If you ask me, I'll say it's rather hard to predict what kind of results you can get.
Generally, it all depends. It all depends on who you have on your list.
Meaning, if you have built your list by offering "freebies" to your subscribers then you can expect that you will earn the 1% profit rate. However, if you have built your list from current customers who have already bought from you in the past, then you can expect that your earnings percentage rate will climb considerably.
Your current customers are where your profits lie in wait. And it is much, much easier to earn a decent income from the higher ticketed items when you know that the people you are marketing this to will spend their money.
I mean, in all honesty-- I have doubts I'll be rich if I'm selling $7 products. Some do, but definitely not me.
One of the things I teach in internet marketing is the X-factor. Marketing results vary because there are so many variables and influencers in one single promotion.
You can calculate all you want like a mad scientist but it's not going to be the real truth. A benchmark, maybe. Well... a benchmark is still better than shooting in the dark.
This is not to say that you can't make a living by building a list of "freebie seekers". The best way to go with them is to offer them something good for a small price. This is usually the kind of thing they will go for. Or maybe, consider promoting pay-per-lead program. They don't have to pay and you get paid for sending them to subscribe something else.
To really earn good profits from your mailing list there is a secret. The secret is... Have More Than ONE List. Heard of that before? Good.
Yup. That's it. That's the secret.
And boy, I'm TIRED of using the word "secret" again. (smile)
That's the trick. Have more than one mailing list.
Now, if you only have one list you rely on to earn money, then you already know what to expect. If your conversion is 1% or whatever, then promoting a $27 will earn you $27 out of 100 subscribers.
Don’t forgot–- 10,000 subscribers does not means that you can command 10,000 visitors. No way, bucko. The best bet you can hope for is 20% conversion which will translate to 2,000 visitors. And that's if it's your lucky day.
But, that equation DOUBLES if you have two lists to pull in profits from. Want to triple it? Then have 3 lists. And so on and so forth.
Do you think that the so called "gurus" only rely on one list for their earnings?
If you do, then you better take up a new "guru" to admire because it's obviously he’s not going to be in business for long. And the smart ones will have their list to be highly targeted to that topic. This is call sub-listing.
So instead of picking a general topic like earning money, you narrow that down to stay-at-home parents earning money. Then, to be sure you turn a profit with your little "niche" list, you only promote those products or services that will be of use, or help to them. THAT'S how you make your money from mailing lists. That's how the big boys do it. And that's how YOU should be doing it.
Have you thought of branding?
Most people think that "branding" is just a way to pound your slogan into your potential customer’s heads. I was that at first. But now, I realized that branding of YOUR PERSONALITY is very important online.
Here's a true story...
Last week, I was away speaking and did not check my email. To my astonishment, I was downloading over 200 emails and 80% of them are subscriptions that I have with others. You know, I was just being a spy to know what's happening in the internet marketing world. (smile)
The shocking fact is this-- There are tons of marketers trying to 'sell' me all kind of latest courses or software when they are all the 'same'. But for those that I recognized them by their brand, I paused to read what they have to say. Isn't that powerful? This is what I mean by grapping the mindshare of a subscriber.
You see, branding in part is about conveying a specific emotion and likeness towards you.
You can't just choose some colors you like for a logo, create a neat graphic, and have that be your brand for all of eternity. Branding is about much more than that. It's about conveying who you are... and more often than not, it's about conveying an emotion. What can a reader feel about you?
That means that you need to start by thinking about exactly what you stand for.
Remember, people buy on emotion and justify with logic. If you can get yourself and your products to become associated with a specific emotion, you'll be able to get your potential customers in the right emotional state-- before you even start throwing any sales pitch in front of them.
Connect to your potential customers emotionally, and they'll become customers.
Applying a brand to your subscribers is a good start.
You don't want your potential customers to have to stop and think what the recommendation that you're giving will mean to them. Instead, you want to translate those recommendations into benefits and outcomes. You want to hook into their emotion and allow them to visualize how it will make them feel to use your follow your recommendation.
Got that clear? Good.
If you have been reading the "Sunday Email" series, I'll always ask for your favor to leave a Comment if you find value of what you've read. It'll be most appreciated because I read every single one of them. (smile)
You "Chan" Do It!
-Patric Chan
YouChanDoIt.com
P.S: If you want to print any of this stuff here, please ask for permision first by emailing to support@youchandoit.com. You'll definitely get an approval but I just want to know you and wish to thank you personally for publishing it. Other than that, I'll let you customized my link with your affiliate url.
----
It's kinda hard to say how much money you can make from a mailing list. I've done promotion with less than 2,000 click through's and generated over $10,000 USD. At the same time, I've made less than $100 USD from 500 clickthroughs.
Isn't that weird?
If you ask me, I'll say it's rather hard to predict what kind of results you can get.
Generally, it all depends. It all depends on who you have on your list.
Meaning, if you have built your list by offering "freebies" to your subscribers then you can expect that you will earn the 1% profit rate. However, if you have built your list from current customers who have already bought from you in the past, then you can expect that your earnings percentage rate will climb considerably.
Your current customers are where your profits lie in wait. And it is much, much easier to earn a decent income from the higher ticketed items when you know that the people you are marketing this to will spend their money.
I mean, in all honesty-- I have doubts I'll be rich if I'm selling $7 products. Some do, but definitely not me.
One of the things I teach in internet marketing is the X-factor. Marketing results vary because there are so many variables and influencers in one single promotion.
You can calculate all you want like a mad scientist but it's not going to be the real truth. A benchmark, maybe. Well... a benchmark is still better than shooting in the dark.
This is not to say that you can't make a living by building a list of "freebie seekers". The best way to go with them is to offer them something good for a small price. This is usually the kind of thing they will go for. Or maybe, consider promoting pay-per-lead program. They don't have to pay and you get paid for sending them to subscribe something else.
To really earn good profits from your mailing list there is a secret. The secret is... Have More Than ONE List. Heard of that before? Good.
Yup. That's it. That's the secret.
And boy, I'm TIRED of using the word "secret" again. (smile)
That's the trick. Have more than one mailing list.
Now, if you only have one list you rely on to earn money, then you already know what to expect. If your conversion is 1% or whatever, then promoting a $27 will earn you $27 out of 100 subscribers.
Don’t forgot–- 10,000 subscribers does not means that you can command 10,000 visitors. No way, bucko. The best bet you can hope for is 20% conversion which will translate to 2,000 visitors. And that's if it's your lucky day.
But, that equation DOUBLES if you have two lists to pull in profits from. Want to triple it? Then have 3 lists. And so on and so forth.
Do you think that the so called "gurus" only rely on one list for their earnings?
If you do, then you better take up a new "guru" to admire because it's obviously he’s not going to be in business for long. And the smart ones will have their list to be highly targeted to that topic. This is call sub-listing.
So instead of picking a general topic like earning money, you narrow that down to stay-at-home parents earning money. Then, to be sure you turn a profit with your little "niche" list, you only promote those products or services that will be of use, or help to them. THAT'S how you make your money from mailing lists. That's how the big boys do it. And that's how YOU should be doing it.
Have you thought of branding?
Most people think that "branding" is just a way to pound your slogan into your potential customer’s heads. I was that at first. But now, I realized that branding of YOUR PERSONALITY is very important online.
Here's a true story...
Last week, I was away speaking and did not check my email. To my astonishment, I was downloading over 200 emails and 80% of them are subscriptions that I have with others. You know, I was just being a spy to know what's happening in the internet marketing world. (smile)
The shocking fact is this-- There are tons of marketers trying to 'sell' me all kind of latest courses or software when they are all the 'same'. But for those that I recognized them by their brand, I paused to read what they have to say. Isn't that powerful? This is what I mean by grapping the mindshare of a subscriber.
You see, branding in part is about conveying a specific emotion and likeness towards you.
You can't just choose some colors you like for a logo, create a neat graphic, and have that be your brand for all of eternity. Branding is about much more than that. It's about conveying who you are... and more often than not, it's about conveying an emotion. What can a reader feel about you?
That means that you need to start by thinking about exactly what you stand for.
Remember, people buy on emotion and justify with logic. If you can get yourself and your products to become associated with a specific emotion, you'll be able to get your potential customers in the right emotional state-- before you even start throwing any sales pitch in front of them.
Connect to your potential customers emotionally, and they'll become customers.
Applying a brand to your subscribers is a good start.
You don't want your potential customers to have to stop and think what the recommendation that you're giving will mean to them. Instead, you want to translate those recommendations into benefits and outcomes. You want to hook into their emotion and allow them to visualize how it will make them feel to use your follow your recommendation.
Got that clear? Good.
If you have been reading the "Sunday Email" series, I'll always ask for your favor to leave a Comment if you find value of what you've read. It'll be most appreciated because I read every single one of them. (smile)
You "Chan" Do It!
-Patric Chan
YouChanDoIt.com
P.S: If you want to print any of this stuff here, please ask for permision first by emailing to support@youchandoit.com. You'll definitely get an approval but I just want to know you and wish to thank you personally for publishing it. Other than that, I'll let you customized my link with your affiliate url.
----
posted by Patric Chan at 8:41 AM
3 Comments:
Patric,
I really appreciate your blog. It is written with a truth not usually seen from internet marketers.
It is current, valuable and refreshing.
Thanks Patric. You're right about branding since I do stop and real your emails. I find them more stimulating than all the other marketning emails that I receive every day - all pushing products all the time. At least you dont do that all the time and always tend to share valuable information with us.
It's just a pity your course is slightly more expensive than what I can afford. If you did allow for installment payments, then I would consider signing up.
Thanks.
Think & Create
Patrick,
Thanks for such sensible advice and information.
I am having some of the problems you mention, I have alist but not a very active one, unless it is a free offer!
I have ordered a new (cheaper) autoresponder with mulitple list facilities which will hopefully allow me to target mail.
Here's to future success (for me - you already have it!;-)
regards,
Katie
Post a Comment
<< Home