Most new business owners are focused on one thing: bringing in the moolah. They want to be doing things like creating products, advertising their store, submitting service proposals, and networking with potential customers. My response is always the same.
Building an email list WILL bring in money!
Sure, building an email list and sending newsletters can seem, well, kinda like a lot of effort for something that doesn’t generate any money. It takes time and effort, and it can take a while for the return on investment (ROI) to become apparent.
But you know what?
If you want to build a sustainable business, you do need to look further ahead than just the next few weeks or months. You need to invest your time and energy into more than just quick sales here and there.
You need to have a long-term vision and a strategy for ensuring you aren’t a one-hit wonder, making money today and struggling to stay afloat tomorrow. And building an engaged email list should be part of that strategy. Here’s why…
Six reasons you need to start building (and nurturing) an email list if you want to really rock your business:
1.) Having an email list gives you a direct line of communication with your existing and potential customers.
And, better still, not only is it a direct line, it’s pretty inexpensive and highly efficient, giving you a way to reach many people easily and practically instantaneously.
Plus, and this one’s a biggie, your email list belongs to you. Nobody can take it away from you and there aren’t any weird algorithms that might get in your way, thwart your efforts and send your messages into a zero-reach abyss.
2.) You can get valuable feedback from your subscribers.
By engaging with your subscribers and asking them questions, you can find out what they want and don’t want, what they like and dislike, and how you can improve or even customize your products and services so that what you’re selling is exactly what they want. This demonstrates to your potential customers that you value their opinions, and it makes it much easier for you to nip problems in the bud and validate new product ideas before spending a bunch of money and time creating something nobody wants to buy.
3.) Sending regular emails is a fantastic way to build relationships with customers and potential customers
You can personalize email messages and even send specific emails to only one tiny segment of your subscriber list who’ve shown an interest or need for one particular thing. You can send them holiday cards and surprise gifts. You can tell stories in your emails, and show your human side. And when you connect with them like this on an emotional level, you’ll start to build a community of loyal fans and followers.
4.) You can build credibility and trust.
By sharing tips, tutorials, hacks and nuggets of free advice with your subscribers, you can position yourself as an expert in your niche. You’ll impress your subscribers by showing them you want to help them and you CAN help them. Doing this on a regular basis builds trust, which is something you need to prioritize because, let’s face it, people don’t buy from businesses they don’t trust.
5.) You can stay top of mind with your customers and potential customers.
When you send regular email and share valuable information and updates on your business, your subscribers will be reminded of who you are, what you do and how you can help them out. You’ll stay top of mind and when they are looking for a product or service that your business offers, it’ll be far more likely that they’ll think of you (and buy from you) rather than Googling and buying from some random business that has never helped them or provided anything of value to them.
6.) You really can make money from the emails you send your list.
People really do buy from emails – but only if the sender has taken the time to nurture a relationship with the recipient. Once you’ve built a good relationship with the people on your list, you’ll be able to pitch a product or service to them in your email without them thinking you’re being spammy. There’s also a really good chance some of your subscribers will buy what you’re offering if you’ve stayed in regular contact with them, given far more than you’ve asked in return, and shown your subscribers that you understand their needs.
Seriously, an engaged email list is one of the most valuable assets your business can have.
It’s made up of people who have indicated that they like what you’re about, are interested in what you do, and want to know more. This makes them not just the people who are most likely to buy from you, but also the people who will spread the word about your business and refer their friends to you.