Are you still on the fence about email marketing and not sure if building an email list is worth your time?
Today I’m going to prove to you why now is the perfect time to invest in building your email list.
Stats from SmartInsights have revealed exactly what kind of Return On Investment (ROI) email marketing can produce when done correctly.
They say that for every $1 you spend on email marketing you are likely to get a return of $40.
How amazing is that?
The Science Bit
Here are the stats that they’ve discovered:
As you can see, a $40 return on investment for every dollar spent on email.
That is outstanding.
And then we have $7.30 for Catalogs.
SEO is also worth investing in with a $22 return on every dollar spent.
And then display adverting is strong too at $19.72.
Mobile produces a return of $10.51.
And finally banner ads produce a return on investment of just $2, which that in itself is not too bad – I would take that any day.
So we’ve got some really interesting stats there and its pretty clear that email marketing remains the king of all marketing channels.
Lead Acquisition
It should be obvious that lead acquisition through building an email list is the way to go.
Lead acquisition should be what’s driving your business forward, but how do you get targeted leads?
There are a few different ways you can do it, but the most obvious way is to advertise.
Advertising a lead magnet to entice people to subscribe to your email list is the most common, and effective way to build a list quickly.
Another popular way is to run a giveaway competition, or to create compelling content.
Now, that is my preferred method of list building; creating compelling content that draws people to my websites.
But if you want to make money today, that’s probably not the best way to go about it.
Longterm Strategy
Creating content is a long-term plan so if you want to make money with an email list, right now – today, then advertise.
Otherwise you’ll most likely have to wait months, or possibly even years, to see any kind of return from the content you’ve made.
That’s because each piece of content you make is a valuable lifetime asset that will continue to produce rewards for you year after year – but it takes quite a lot of work and quite a long time to get to that point.
The Shortcut
If you want a shortcut and see money flowing into your business immediately, then advertised your lead magnet and then run those subscribers through a sales funnel.
Start with a tripwire, a low priced item, then work your customers through progressively more expensive products.
That is the most common way to do it.
The Value of an Email List
Another common belief when it comes to email marketing is that for every targeted lead you have on your email list that is worth $1 per month to your business.
For example, if you have a list of 500 subscribers that, in theory, should produce around $500 in revenue per month.
But listen I don’t know if that’s just something that marketers say that sounds good to try and get people to click on their affiliate links.
But what I do know is that every single time I email my list with an offer, I make money.
There you go, I’ll leave it there for today and hope you’ve found this useful. If you have then please pay it forward and it share with others who need to know about this stuff.