You may have heard this before, but the money is in the list. The email list, to be exact. Everyone talks about it, people rave, they insist on it and swear by it, but oftentimes people really don’t see the goods behind it. What is email marketing anyway? It happens to be, still to this day, one of the best marketing strategies for those wanting to drive more customer acquisition and retention.
80% of SMB Retail Professionals Report on eMarketer That Email Marketing Matters the Most
After all, once those customers are on the list…. They’re on it for good (until of course they unsubscribe). That means you can tap into that list for returning customers and make more revenue just off of that list.
We’re thinking, though, that the challenge with email marketing is how to get a list that’ll make you passive revenue with upsells, retention, and return business. Fair question.
For starters: you need a VERY substantial email list. Several thousand subscribers or more. Seems like a lot (and it is), and it’s quite a mountain to climb, but with the right strategy, you’ll collect all of them in days.
All you need is a lead magnet — an offer of some kind your audience would really like in exchange for their contact information. That’s it. You’re not selling anything. You’re not asking them to buy anything. You’re simply giving them something — FOR FREE. You, however, get that contact information. They become a potential revenue source. And that’s where the money is at.
With That Email List, You Can Then Decide Just What Kind of Emails You’d Want to Send to Them
Could be newsletters, promotions, recommendations, or just emails saying HELLO. Whatever the case, the most important aspect of an email list with respect to email marketing is that you’re building your reputation and rapport. It’s as if you’re a retail manager in a store, and you’re actually able to talk to every single customer walking through the door (virtually impossible to do).
Email marketing makes it possible.