as Whether you’re a blogger, an e-Commerce business owner who wants to sell his product or just a simple content creator who loves to share his content selflessly with the world, the key indicator underlying your success is how many people you’re able to reach.
Obviously, it’s not a rocket science that the more people you’re able to reach, the better the chances of your sales conversion, hence, ensuring success. It’s simply good old maths.
So, if you have just started out (or have been striving for a considerable time in the online world) and still haven’t focused on building your own high-quality email list then this article is just for you.
If you think that building an email list is a waste of time and resources because you can communicate with your followers through your own blog or social media accounts then in this article, I will try to convince you otherwise. Hopefully, after reading it, you’ll start focusing your efforts on collecting high-quality leads and start building your own email list by investing in a decent email marketing software.
7 Compelling Reasons To Build Your Own Email List
#1. The email list is your most valuable asset
When you think of an asset in any business, your mind automatically creates an imagery of buildings, vehicles, furniture, stock/inventory etc. If you’re a bit sophisticated then you may think of a proprietary software, your goodwill or even the content of your website (in case you’re an online entrepreneur) as assets.
While you’re not wrong but among the most valuable assets for a business, an email list can be regarded as one.
Back in 2014, Facebook acquired Whatsapp for approx. $22 billion dollars. Why do you think Whatsapp was sold for that much?
Was it because Whatsapp was working on some groundbreaking technology? Or was it something that Facebook’s engineers couldn’t create from scratch?
Well, the obvious reason was its user-base. Reportedly, Facebook paid $55 dollars per Whatsapp user to bring it under its own umbrella and this signifies why maintaining a healthy list of (email) subscribers can be the best decision for your business.
Another reason that an email list is your most valuable asset is that it gives you a sense of control over your business.
Your website can go down as a result of some technical or any other legal reason and all of a sudden you’d be back on square one. Even if the hiccup is temporary, in terms of losing business in those moments, it may cost you some bucks for sure.
If you’ve been collecting emails from your visitors, you can inform them about it and let them know the timeline when you will be up and running again.
In case you’re an affiliate marketer, you can send emails to your subscribers promoting products of your vendors through emails. This way, you can ensure a steady revenue stream even when your website is down.
In fact, even if you start a new business, you can always inform your subscribers through emails. This will give you a much-needed head start for your incumbent business.
#2. Create a feeling of mutual trust and camaraderie with your readers
While every business strives to explore new boundaries, the basic knowledge that separates veterans from the novices is that the former group knows the value of building a strong relationship with the customers.
Granted, you need to tap in new customers every now and then to ensure growth but at the same time, you must also take measures to maintain a healthy relationship with your older customers to ensure both sustainability and growth.
To do that, there can be no source better than email. Emailing your list regularly can do wonders for your business.
People will start paying heed towards your brand/business. They will remember you when they plan to buy a product that you deal with. When you communicate and get down on your subscribers’ personal level, they will start trusting you.
So the key is not only to build your email list but also email them at regular intervals. Even when you have nothing to sell. Just keep in touch with your “list” and you will see a surge in your sales or readership.
Remember, the more you interact with your client, the more opportunities you’re creating for yourself.
#3. Email subscribers convert more as compared to other communication channels
It’s a proven fact. There have been numerous studies about email conversion rates as compared to other mediums and almost every study has found the email to be the king when it comes to conversion.
According to one study, for every dollar invested in email marketing, a business can generate $44. And one basic reason is what we’ve discussed above in the point about trust and camaraderie.
So if you’re not investing in building your own email list then there’s a high chance that you’re leaving tons of money on the table.
#4. More room to build your case
Imagine advertising on a social media or any other platform other than email. You have to be quite succinct and to the point. Your banner should be catchy with minimum use of words and you have to build up your whole case using that minimum space. At the same time, it’s relatively harder to address each of your audience at the personal level. Since the target audience can scroll anywhere and they haven’t landed on your promotional banner willingly, the window for capturing their attention is quite small.
When it comes to email, the playing field is tilted in your favor. You can take your time, be descriptive, share your story to connect with your recipient on a personal level. Apparently, you don’t need to be right on the money when it comes to email. You can stroll a bit, impart your experiences, address their emotional side. This is what the pros constantly do.
The fact that your subscriber has opened the email gives away the signal that he’s interested in what you have to say so you can take advantage of that.
As a result, the conversion of email as compared to other mediums is higher. The same point that we discussed above.
#5. Establish a stream of recurring visitors on your website
In this fast-paced world and too many options, it’s relatively harder for a business to leave a long-lasting impression on their customers. However, the road becomes less bumpy when you have a nice stream of returning/recurring visitors on your website.
According to one study, returning visitors spend almost double of what the new visitors spend online. New visitors also tend to leave the website more after visiting the first page as compared to the returning visitors. Hence increasing your bounce rate. This is not good for your Google search engine rankings.
So, while in order to ensure growth and harvesting new relationships for your website, it’s also worth your time and money to focus on harnessing the returning visitors.
And how can you effectively do that?
The obvious answer is through email. While social media can also be used for the same purpose but still it’s not as effective as receiving an email in your inbox.
Just make sure that you maintain a regular frequency of communication and you’ve pretty much paved the way towards success as a businessman.
#6. Email is the most economical and effective way to reach out to the potential customer
Let’s face it, nobody like “salesy” messages trying to sell you on some idea of a product that you don’t need.
However, a survey conducted by ExactTarget revealed that most people are Ok with receiving promotional messages via emails and find it much more acceptable than any other marketing platform.
The survey is quite interesting as it shares the upsides of having a high-quality email list and how the email marketing dominates its other counterparts by far. Here’s another great article which shows in detail how the email marketing flourishes in almost all the sectors as compared to other forms of marketing.
We’ve already discussed the ROI of emails. Which amounts to around $44 per dollar invested. Combine it with its effectiveness, email surely becomes the most economical and effective marketing channel to set your feet in.
Of course, this does not mean in any sense that you start shooting emails without crafting proper strategy and feedback control. You won’t achieve results with such directionless moves. But again, this applies to all other mediums as well.
#7. Most people need some convincing before getting sold on an idea
This is a bitter fact. At least from the businessman’s perspective. Though the exact number is highly subjective, however, according to the experts it definitely takes more than one push to convince buyers to hand over their credit card numbers.
Even most of the impulsive buyers tend to give in to their impulses when they’re around the brand they know and trust. So designing your marketing campaign with the hope of targeting the impulsive buyers is not viable at all.
So, it’s a no-brainer that the best source of constantly getting in touch with your potential buyers is definitely through emails.
Of course, this does not mean that you constantly keep bombarding your potentials with single message again and again. This is surely going to piss them off and ultimately result in an unsubscription.
The trick is that while promoting the same thing, keep changing your messages. Especially the subject line. Make it more catchy and attractive. Keep doing the right thing again and again and at the end of the day surely the odds will start moving in your favor.
The sweet nectar of this article is that you grasp the concept of having strong leads and the importance of building your own email list.
By “Own” I mean to say that instead of buying, make sure that the subscribers actually opt to subscribe for your emails. Otherwise, the results won’t be that “rosy” as mentioned in this article.
I hope that after reading this article, you’ll embark on the mission of building your own email list.
If yes, then you can start by clicking the banner below. The link will also provide you with an instructional ebook to convert your emails more. A great guide to start with the Email Marketing.