If you’ve been around marketing online for any length of time I’m sure you will have heard the expression – “The Money Is In The List”
Well, if you thought I was now going to break the news that it isn’t true, sorry to disappoint you but I’m not.
The money is in the list or should I say, it’s in some lists.
How much money there is in your list depends on a number of factors. There are 2 really big factors and probably a few others. Let’s look at the big ones;
The Relationship You Have With Your List
Another phrase you’ll have heard being banded about is “Know, Like & Trust”. The fact is that the amount of money there is in your list depends a lot on how much those people on your list know, like and trust you. Building up that level of relationship takes time and a lot of hard work and yet is essential to creating a strong relationship with your audience and fostering long-term loyalty.
Here are some ways to build up each of these factors:
Know:
To build up the know factor with your subscribers, you need to provide them with valuable and relevant content that helps them solve their problems or fulfills their needs. You can do this by sharing your expertise, providing helpful tips and advice, and keeping your subscribers up-to-date with the latest news and developments in your industry.
You can also segment and personalize your subscribers to tailor your content to their specific needs and interests. By using data to understand your subscribers’ behavior and preferences, you can provide them with content that resonates with them and keeps them engaged.
To understand your subscribers’ behavior and preferences, there are several types of data you can obtain, including:
- Demographic data: This includes information such as age, gender, location, income, education level, and other demographic factors. This data can help you understand the basic characteristics of your subscribers and how they might differ based on different segments.
- Behavioral data: This includes information such as what content your subscribers are interacting with, how frequently they open and click on emails, what actions they take on your website or landing pages, and what products or services they purchase. This data can help you understand the specific actions and behaviors that your subscribers take, which can inform your content and messaging.
- Psychographic data: This includes information about your subscribers’ interests, values, attitudes, and lifestyles. This data can help you understand why your subscribers behave the way they do and what motivates them to take certain actions.
- Feedback data: This includes information gathered through surveys, polls, or other forms of feedback. This data can provide insights into your subscribers’ opinions, preferences, and pain points.
- Social media data: This includes information gathered through social media platforms, such as what your subscribers are sharing, what they are liking or commenting on, and what they are saying about your brand or industry. This data can provide insights into your subscribers’ interests and engagement levels.
By analyzing and combining these different types of data, you can gain a more comprehensive understanding of your subscribers’ behavior and preferences. This can help you create more effective marketing strategies, personalized messaging, and products or services that better meet the needs and interests of your subscribers.
Like:
To build up the like factor with your subscribers, you need to be authentic and personable in your communications. Share your personal stories and experiences, show your sense of humour, and use a conversational tone to connect with your subscribers on a human level.
You can also use social media and other interactive platforms to engage with your subscribers and show them that you care about their opinions and feedback. Ask for their input on new products or services, respond to their comments and messages, and provide opportunities for them to connect with you and other members of your community.
Trust:
When it comes to building up the trust factor with your subscribers, you need to be transparent and reliable in your communications. Follow through with your commitments, deliver on your promises, and be upfront about any potential issues or challenges that may arise.
As with the like factor you can also use social proof, such as customer testimonials or case studies, to show your subscribers that you have a proven track record of delivering value and results. Provide clear and concise information about your products or services, including pricing, features, and benefits, and be available to answer any questions or concerns that your subscribers may have.
Overall, building up the know, like, and trust factor with your subscriber list requires a consistent and strategic approach that prioritizes your subscribers’ needs and interests. By providing value, being authentic, and establishing credibility, you can create a strong and loyal community of subscribers who will be more likely to engage with your brand and recommend it to others.
Buyers List
The second factor that affects the money in your list is the type of list member they are.
A list of buyers, people who have purchased from you in the past, or to a lesser extent, people who have bought from someone else, are much more likely to buy again.
When you are running solo ads or similar style paid traffic, you will have to pay more to send your ad to a buyers list than to a general list who may not have bought from the list owner in the past.
When you are marketing online it is very important that as people buy from you, you move them to a buyers list.
Over time you will build up your buyers list of your own. Then you will be more confident that when you want to promote a new offer you just need to send it to your buyers list and when you do you have a much higher chance of making sales and therefore having a profitable campaign.
Until next time,
Kind regards,
P.S. If you want to learn how to build your own buyers list this 53 page PDF will show you the way. See exactly how to do it and copy my good friend Jim Here
