…It’s your email list.
So… what IS an email list anyway?
It’s a collection of qualified leads that have agreed to receive communications from you…
Can you see how that might be really important?
The “qualified” part is key. You could have gobs and gobs of traffic sent from Google or StumbleUpon that may only stay for 3 seconds because they’re actually looking for Art History or Art Galleries or Art Garfunkel.
(This speaks to optimizing your site for key word search – but, like Tales of the Riverbank… that’s another story.)
So… your list is a collection of qualified leads that give you permission to send them email. They expect value and they expect to be pitched…
You’re going to (hopefully) attempt to sell them stuff.
The Surface: Sales & Stats
The easy fruit of email list importance is right there on the surface >> sales.
It’s unlikely that you’ll have very many random sales, where new people find your website and buy right away. It’s not impossible, but it’s unlikely.
We’re not dealing in commodity products.
We don’t offer toilet paper, toothpaste or granola bars.
People are going to need a bit of time before they buy our product or service.
They’re going to have to feel us out and hear what we have to say, decide if we’re full of crap or have good information worth paying attention to. (and good money for)
Before they commit, potential buyers need time to know, like and trust us.
Once that happens, the majority of your online sales will come from your list.
Hooray! …it’s 3%?
The majority of direct marketing email campaigns to an unqualified list, have a conversion rate of less than 1%.
A 3% conversion rate is a champaign-popping, red-letter day at the office.
Conversion on a qualified, nurtured email list will generally start at 3% and can average over time in the 6% – 12% range… (with some quoting as high as 18% on some campaigns).
That’s you by the way… “qualified, nurtured email list” – that’s what you’re building.
**(This is an approximate range and is dependent upon those that quoted these numbers, were actually telling the truth about their list conversion rates).***
Conversion will also be dependent upon how dedicated your list is to your brand.
You Need to Know
The stats and tracking available in email list software like MailChimp, are vital for keeping an eye on the commitment to your brand and the communications you’re sending out.Google Analytics on your blog give you a lot of useful, broad information about what people are doing on your website…
Tracking opens, clicks, sub, unsubs and forwards on emails to your list gives you a much better idea of what’s happening with the people that are most likely to buy from you.
You don’t want to stray too far from the reasons people wanted to connect to you in the first place. You don’t want to alienate your list by offering a different experience than what they signed up for…
And here is where we get into the real importance of your email list… the real reason you develop loyal and committed buyers.
…but that’s another story. On thursday.
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