Email lists provide direct access to your audience, delivering messages directly into their inboxes. This allows you to create tailored messaging and content that builds trust and a genuine connection with your subscribers.
To determine your list value, start by calculating all of your relevant business expenses and subtracting them from revenue. This will give you a truer picture of your list’s value.
1. Increased Sales
Email lists are a piece of owned media that you have complete control over. This is unlike social media where the platform owns your followers and contacts list.
In the digital world, email is a high-converting tool that has the potential to produce loyal customers. It’s also an asset that you can nurture over time to turn it into a thriving community of brand advocates.
Your email list provides you with an opportunity to connect with your audience and keep them up to date on new products, promotions, or events. This can help increase sales by driving traffic to your website or store.
Additionally, your emails can be used to drive engagement by delivering relevant, inspiring content that will start to build trust with your subscribers over time. This could include things like free interactive tools, birthday and holiday greetings, or exclusive coupons that can be used in-store or online.
Buying an email list can be tempting because it might give you the impression that you’re reaching your target audience., says Emails Nest However, email addresses that are purchased or rented often get spammed and may no longer be valid for your marketing purposes. An email list built on the principles of permission and transparency will have greater value than one that is built from bought or rented contacts.
There are many ways to grow your email list, including social media promotion, CTAs on your website, giveaway competitions, collaborating with other businesses, guest blogging, and more. Be sure to choose a method that fits your business and your budget. However, the most important thing is to make it easy for your visitors to subscribe. This can be done by providing multiple sign-up options, creating an opt-in form on every page of your site, and offering compelling incentives (such as the case study or cheat sheets that ConversionLab uses). You should also make it clear that you’ll never share your email address with any third parties.
2. Increased Customer Retention
Email marketing provides the opportunity to connect with your audience in a more direct way than other digital channels. It also gives you the ability to personalize messages and target your audience based on purchase behavior, interests and demographics. Additionally, email lists are a digital asset that you own and can maintain even if platforms like Facebook or Twitter change their rules.
If you want to grow your business, it’s important to focus on customer retention and build relationships with your customers. One great way to do this is through an email marketing strategy, which can help you increase customer lifetime value and encourage new customers to come your way.
A good email marketing strategy can involve providing valuable content that is relevant to your audience and offering exclusive deals or rewards that your subscribers would be interested in. For example, a clothing boutique could offer their customers personalized fashion recommendations and behind-the-scenes looks into the brand. This would show that the clothing boutique cares about their audience and builds a strong relationship with them.
Another important aspect of an email marketing strategy is making it easy for people to sign up for your list. A simple sign-up sheet can work well, and it should always include a double opt-in process to ensure that people actually want to receive your emails. This demonstrates your respect for your audience’s privacy and compliance with laws like GDPR, CAN-SPAM and HIPAA.
You can also promote your email list through social media by including a link to a lead generation card on all of your tweets, which pre-populates a user’s name, @username and email address when clicked. By doing this, you can create an instant connection with your audience and encourage them to subscribe for more great content.
3. Increased Traffic
Whether you’re just starting out or have an established business, building your email list is an essential first step to growing your brand. Email marketing provides a cost-effective way to reach your target audience and encourages customers to engage with your business and share their experience with others.
You can collect email addresses with online forms on your website and social media channels, in-store signup sheets, or chatbots that offer future updates, newsletters, or exclusive content as an incentive to subscribe. Many of these methods also allow you to personalize emails based on subscribers’ previous behavior and preferences, further increasing engagement and conversions.
Running contests and giveaways is another popular and effective way to grow your email list. Not only do these tactics generate lots of organic engagement, but participants often share the content they receive from your business with their friends and followers, further boosting your reach.
Once you have the email address of your new subscribers, make sure to deliver on your promises. Avoid bombarding them with sales-related content right away. Instead, focus on providing valuable information and resources that are relevant to their interests. This will keep them engaged and happy with your business.
Finally, always use a double opt-in to ensure that your subscribers actually want to be part of your email list. This is important in order to avoid violating laws like GDPR, CAN-SPAM, and HIPAA.
It’s also a good idea to periodically clean up your email list by purging inactive subscribers who haven’t opened or engaged with your emails for a long period of time. This will help to improve email deliverability, and ensure that the emails you send to your active subscribers are always relevant and engaging.
4. Increased Brand Awareness
Email marketing provides a way for businesses to connect with their audience on a personal level. By collecting email addresses through a newsletter signup form, companies can communicate with subscribers directly and build a loyal community of brand advocates.
By sending promotional emails with exclusive deals and updates on products, services, or events, companies can encourage their audience to interact with the business. The more a person interacts with a company, the more likely they are to buy something or recommend the product or service to friends and family.
Additionally, an email list gives you a sense of control and ownership over your audience. This is because people on your email list have opted in voluntarily and given you permission to stay in touch with them. This is unlike followers on social media, who may not be as responsive to your content or business and are subject to changes in their algorithms that could impact how they see your business.
In addition, your email list can be used to promote a variety of different campaigns and offers, making it a cost-effective way to advertise and expand brand awareness. Additionally, by providing valuable content to your audience, you can establish yourself as a trusted expert in the industry and grow your reputation. For example, a financial advisor may create educational content that discusses the latest tax laws, retirement planning strategies, and investment opportunities. This educational content will help to increase the trust of potential clients and ultimately lead to more sales.
While it takes time to build a quality email list, the benefits are substantial. A single report estimates that the average email sender generates $36 for every dollar spent on their list. That is a return on investment that far exceeds other marketing channels like billboards and social media.
5. Increased Conversions
A business owner can leverage their email list to drive conversions by sending out a newsletter with new products, discounts, and special offers. An online boutique, for example, can nurture their list by providing exclusive content to their subscribers over time, which turns them into repeat customers and brand advocates who share their love of the boutique with friends and family.
When it comes to calculating the value of your email list, there are many factors that come into play. One of the most important is your total revenue from your email marketing efforts over a period of twelve months. This number includes any direct revenue from email sales, as well as revenue from your social media channels and organic traffic. Once you have this number, subtract any overhead costs to determine your net list revenue.
Another important factor is your list quality. This is determined by how responsive and active your subscribers are. A high-quality list can have a much higher value than a large, inactive list.
One way to increase your list quality is by offering a free incentive, like a whitepaper or ebook, to people who sign up with their email address. This is a great way to build up your list and generate more revenue over time.
Finally, you should also take the time to do some list hygiene and remove inactive subscribers from your email list. While these people may not be as productive as your other subscribers, they’re wasting valuable space in your inbox. If you haven’t heard from a subscriber in a few months, it’s time to let them go!
