This week we're telling you all about how to make money from your email list. So if you have a small list (or you think you have a small list), don't despair! We're going to tell you exactly what you can do to make money from that.
Because guess what?
We were rubbish at growing our list. Most things that email marketing gurus out there teach didn't work for us.
But we figured it out, and we continue to make 6 figures from our lists, so buckle up and read (or listen) on.
SOME EPISODE HIGHLIGHTS:
(2:30) So how about this #EmailMarketingWednesday that Kennedy loves so much?
(3:33) Is your list really small?
(4:29) The things that really matter with your email list (and it's not size!)
(5:57) Why there's no point in building a ginormous list with the wrong people on it.
(6:55) Why a small list isn't actually such a bad thing after all.
(7:58) How we did a rubbish job of growing our own email list (and how we got really good at making money from it).
(10:14) Why you should email your subscribers more often.
(12:28) Why you should create email campaigns that are designed to sell.
(14:59) Why you should regularly clean your list.
(17:25) Subject line of the week.
Is there such thing as a 'small email list'?
We see this all the time.
People with lists of 20,000 subscribers who think they've got a small list. And equally, people who only have a few hundred or a few thousand subscribers and worry that their lists are too small to make any money from them.
Want the honest truth?
It's not the size of your list that matters. It's what you do with it.
So the great news is that if you have a small list with only a few hundred people on it, you can still get a really great income from that.
Because it's all about the relationship you have with your subscribers.
See, we genuinely have no idea how many people are on our list. We don't check that number. And that's because it doesn't do anything for us. You can't pay the bills with email subscribers!
The numbers we care about are the ones in our bank balance. We look at how our campaigns perform - how much we make from every subscriber. Because that's what matters!
Should you spend time and money growing your list?
We come across lots of people who don't have a list or who panic about the size of their email list. And typically these people think they'll need to spend a lot of time, money, and energy building and growing their list.
But what they should be doing instead is to first test that they have the right type of people on their email list. You want subscribers you can sell to - people who want the offers you have. People who will buy from you.
The truth is that you can build a profitable business with a few hundred or a few thousand subscribers on your email list. But if you waste time building a massive list without first checking that the people you have on your list are the right people for your business, then growing that list might not be profitable at all!
The advantages of having a small list
We get that people are nervous when starting out. But then again, isn't it easier to test the waters and try out ideas when you have a smaller list? If you get it a little wrong, you're doing it in front of a smaller audience at least!
Having a small list allows you to dial it in and then grow. But focusing on growth without doing any testing isn't the answer!
So one thing you can do while your list is really small is to figure out how much each subscriber is worth to you. Because a lot of people don't know that. And that's a key piece of information to help you decide how much to invest in ads or lots of other things in your business.
See, when we started out, we didn't have a lot of money to invest in advertising, and we were a bit rubbish at growing our list. We paid for courses and tried to learn from all the email marketing gurus out there, but their methods didn't wo