This information isn’t too sexy and seems to fly against the wisdom of the millennial crowd and the social age of the Internet, but it rings as true today as it did in 1999. The single best way to grow your business and your #1 resource for marketing your business online is…
Wait for it….
Your Email List!
List building is your foundation, it’s your most valuable asset online.
Your email list is traffic that you control, it’s traffic that you own, and if you’re not building your list with everything you do online, then you’re missing the opportunity.
I’m not saying that social media (Instagram, Twitter, TikTok, Facebook, or any other platform that your people are on) is not important. I’m saying that it’s not as valuable as your email list.
TIP – do not promote anything for your business without a lead capture form set up to gather email addresses.
Greatest Asset To Grow Your Business Online
You are creating your future customer list when you build your email list. You should have your past customers on your list and go from there.
Remember – you own your list, so it’s the most stable investment you can make online.
Now, as I said earlier, social media followers are great, and you need those as well, but they are not owned by you. They are owned by the Facebooks and Twitters of the world. If they change something, or ban you, or just delete your account, you really have no recourse (let’s just say that if you only have a presence on them, they own you).
My suggestion to all business owners is to leverage your social media to grow your email list.
There are 3 types of traffic online.
- Traffic you control – example: Facebook Ads (or other ads that deliver paid traffic)
- Traffic you don’t control – example: SEO (you can control it a bit if you really know what you’re doing)
- Traffic you own – example: Your List
The goal is to build up the greatest amount of traffic that you can control.
INFO: there is a common understanding that when you promote to your list you can expect an average return of about $1 per month for every subscriber. So 1000 people on your list should equal about $1000 in revenue from your list – every month!
The people on your list are people that have signed up for information from you. You are sending offers to people that know you.
You can build your list for free, or you can also pay to build your list.
(I use ConvertKit for the email list on this site – it’s free to 1000 subscribers)
Break-Even List Building
In order to get people to sign up for your list, you will need to entice them with value, in exchange for an email address.
You need to offer a product or service that’s valuable to them so that they give you their email address.
This may actually cost you some money at first, but you will reap the reward over the course of your customers’ lifetime. This is the lifetime value of your customer. Don’t get too hung up on this right now.
Remember that you are not a one and done business. You need to provide value and build customers for life. They will become your loyal tribe and will trust your recommendations in the future. (Don’t recommend anything that you don’t feel proud of, or wouldn’t want for your family and friends)
Let’s just recap the main points of this report. The single best way to grow your business online is:
- Give away something of value (it doesn’t have to cost a lot, but it needs to be valuable)
- Then as people are on your list start promoting other items that have a higher value.
- If you are in a Bricks and Mortar business, bring people into your store to receive their items.
- It’s all about the list – make everything you do focuses on building the list
- Automate your messages (more on this later)