Is The Money Really In The List?
It doesn’t matter if you’re a seasoned veteran
of internet marketing or a complete newbie to
the arena. Either way, I’m about 99% certain
you have heard the phrase, “the money is in
the list”. Well, what exactly does that mean?
First off, I will say that building a list of people
who will potentially be interested in buying
products from you is absolutely essential. If you
have no list of responsive subscribers, you basically
have NO ONE to market to. As far as methods
for building a great subscriber list, there are many,
and that is beyond the scope of this post. I have
a couple of favorite resources that I highly recommend,
and they will be the subject of upcoming reviews.
The main point I want to get across is — assuming
you already have a good list of several hundred or
thousand subscribers, that doesn’t automatically
guarantee your success. More importantly, it’s
what you DO with your list. How you use your list will
ultimately determine your success or failure in online
marketing.
All too often, the urge is to start hammering your
list with product offerings every day or two. While
that may generate some short-term income, it is not
a good long-term strategy. In fact, it will probably
cause a good part of your list to un-subscribe.
A better line of thought is to consider list-building
more in terms of “relationship-building”. Think
about it for a moment — you probably buy products
from businesses which you trust, right? It is no
different in the online world. You HAVE to create
a sense of trust in your subscribers. Sometimes
this means putting aside your own profit goals for
the moment. Instead, give away a free report or
e-book, or a short 5 or 6 part mini-course. Maybe
you have personal stories about your business
experiences, either good or bad. Everyone can
relate to the human element, so talk to your list
like you would to friends or family.
Think about it another way — If you were thinking
about going to visit a particular restaurant, who would
you trust to make a recommendation? Would it be
some anonymous reviewer on TV, or a close and
trusted friend? You must think about your list in the
same way. Try looking through their eyes when you
make a product recommendation. Will they see it
as just another shameless affiliate product promotion,
or will they perceive it to be the advice of a trusted friend?
In summary, to answer the question I posed in the
title of this post, YES, the money is most definitely
in the list. BUT, only if you treat that list with respect
and offer them great value over and above the products
you expect to promote to them. The more of yourself
you are willing to give, the more you will get back
in the end.
Warmest Regards,
Dave Burleson