You’re most likely ignoring the single biggest asset in your entire business.
This simple marketing concept is an invaluable tool that is unmatched when it comes to lead conversion, customer retention, and revenue potential. It outperforms SEO, affiliate marketing, paid ads, and even social media. This is marketing 101 that every business owner needs to know.
It’s your email list.
According to a study done by Litmus, email marketing drives an ROI of about $36 for every single dollar spent. That’s a 3500% ROI (far outpacing every other marketing channel currently available). Email marketing is unmatched.
What Is Email Marketing?
There are a lot of unnecessarily complex definitions of email marketing out there.
Ask 10 experts, and you’ll get 100 different answers. I like to keep things simple. So, my definition of email marketing is that it’s the process of using email to communicate, nurture and build relationships with, and (eventually) sell to your customers.
This is your secret marketing weapon.
Why You Need to Prioritize Email Marketing In Your Business
There are many reasons you need to prioritize your email list, and I’ll cover some of them in a moment, but first…
There’s one primary reason that stands head and shoulders above the rest: your email list is yours. Here’s the deal… Whether you use YouTube, Instagram, Facebook, or any other social media medium as your lead generation method, you don’t own those platforms. As a result, you don’t own the following you build on them, either.
That puts a lot of risk on your business…
The algorithms could shift overnight, compromising your reach, or the social platform you use could disagree with something you posted and censor you, or worse, ban you from the platform altogether.
These scenarios could drastically impact your business, and you have no control over them. However, you own your email list—free and clear, which means you’re in full control. You’re no longer at the mercy of algorithm changes or censorship when you tap into the power of email.
Here are a few other reasons you need to prioritize email marketing in your business:
- Massive ROI potential
- Stronger audience engagement
- Better customer relationships
- Increased brand awareness
- More affordable than other marketing channels
- Immediate results
- Higher quality leads
If you’re not prioritizing email marketing, you’re leaving a lot of money on the table.
What’s worse, you’re putting unnecessary risk on your business while effectively stunting its growth, allowing your competition (who is taking advantage of email marketing) to eat your lunch. I don’t know about you, but I want my piece of the market share.
Click here if you want your piece, too.
4 Simple Ways To Monetize Your Email List
List monetization is all about turning leads into customers and customers into repeat customers. Here are 4 simple email marketing strategies to facilitate this process in your business.
1. Autoresponders
Autoresponder software automatically sends pre-written emails to subscribers based on some sort of action they take (e.g., signing up for an email list, downloading a guide, making a purchase, etc.). The action triggers the autoresponder software to send the email sequence that then starts the customer journey on auto-pilot—this is selling anytime, all the time.
2. Affiliate Marketing
Affiliate marketing is when you promote another brand’s products or services to your list. You will receive a special link created by the person you’re promoting. And anytime someone from your list purchases through that link, you get a percentage of the sales. This is pure profit.
3. Content Emails
Content emails are critical to keeping your list “warm” and engaged when you’re not actively selling anything. They are primarily designed to educate, entertain, and inspire. However, when you give your emails a monetization path, they can also become a powerful tool that can help you “sell” without actually selling.
4. List Promotions
List promotions are the holy grail of email marketing. While all the other strategies listed above are effective (and important), nothing will have the same cash-flow injection power as a full-fledged launch or campaign. This is when you create an email experience to sell a product or service to your list directly.
Are You Ready To Experience The Advantages Of Email Marketing?
Email marketing has unmatched ROI potential. So, if you’re ignoring this powerful tool in your business, it’s time to get with it. If you need help in this area or if you’re just interested in learning more about email marketing and how it can benefit your business, contact me today.