6 Reasons Why You Need an Email List, For Your Small Business
Have you heard?
The buzz phrase recently has been "email list". A lot of people have been asking me what the big deal was. Well, I'm here to tell you!
First, let me start out by telling you that I have added approximately $12k to my revenue in November & December 2016 because of my email list.
Nope, here is what's more impressive, for all of 2016, I have added approximately $83k to my revenue because of my email list (actually I think it's a bit more but sometimes it's hard to gauge whether some revenue came from the email list or organic traffic).
Now, hold up there, I know you are thinking one of two things:
1) There is no freaking way! How did you do that?
2) Tell me how to do the same! (more about that in another blog post).
Let me make something very clear, these numbers are as accurate as they can be. How do I know? Well I use my email list to drive traffic to my dot com, so my dot com sales are a true reflection of how well my email list is doing.
Now if you were among the people who thought "How in the world can you make that much money with an email list?" I want to further explain the importance of an email list for small (and large) business owners to convince you that it is the right thing to do for your business.
1) You Own This Email List, You Don't Own Etsy.
Or any other selling platform. I think Etsy, Amazon and other other selling platform is really great for people starting out. Heck! I still use them. But it's important realize that at any moment, something can happen to your Etsy/Amazon shop and POOF GONE, what will you be left with? Sad stories about what used to be.
It's also very possible that one day you are on top of the world! Rocking you SEO ninja skills, all of your items are found on top of search and then BOOM, Etsy changes their search algorithm and you are no where to be found online. Not sure how SEO works or how its used to bring in more sales? Then check out my SEO and Google SEO Webinars.
On the other hand, an email list is something you own. Sure you use a platform such as Mailchimp or Aweber to store your email list, but these customers have given you permission to email list, so you can at any time, export that list and use another email marketing service. The point is, where you go, your list goes too. So in the event that Etsy closes it's doors or Amazon shuts you down for who knows what reason, I wouldn't worry, because you have built up an email list to help you direct traffic to your new online home, your dot com.
2) You Also Don't Own Facebook Or Instagram.
Or any social media platform! We all know the time when Facebook changed their algorithm for Facebook pages and all that hard work of getting Facebook likes pretty much went down the drain. You would post something on your Facebook page and instead of 70% of your "likers" seeing it, only 7% did, what the hell!!!
We know that since we don't own these platforms, they can change at any moment (and they have!) and then they leave you stranded trying to figure out how the hell you are going to drive traffic to your shop like you used to. Believe me, I have seen it happen to many sellers who used Instagram to bring in paying customers. While they still do, they stated that the traffic has decreased dramatically. Do you know if your are using social media effectively to grow your business? If not, then check out my blog that tells you how NOT to use social media for your business.
If you took the time to grow your email list, that list would never go away or change. The people who you email, will always consistently see your message when they open their email. In fact, there are ways to continually improve your email open rate so more people can see it, not less!
3) Conversions Are HIGHER From Email Lists.
When selling online, if someone checks out your product listing only 1-3% people will buy on average. That's 1-3 people out of every hundred that view your listing, ugh what a downer! Not sure what your conversion rate is? Then check out my blog post that walks you step-by-step to calculating your conversion rates and how to increase them.
But did you know that conversions are higher from your email list? It's true. These people have given you permission to email them. They are interesting in your product and what you have to offer, they are more than likely your TARGET CUSTOMER.
Imagine you sell kids clothing and you set up a table in a room full of moms who need to buy new kids clothes because picture day is tomorrow!
Then imagine that same table set up in a room full of business executives who travel often and most of them do not have kids.
Which room do you think you would sell to more? The room full of moms, duh! That is what your email list is! A room full of your target customer who actually told you they are interested in you and your product, so naturally conversions should be higher.
4) Open Rate is 20 - 40%, More Customers See Your Products!
When you post to Instagram or to your Facebook page, do you know how many customers will see it? I don't know the exact percentage, but not much. You are competing in a sea of other companies trying to fight for attention.
So you worked on your graphics, you worked on your clever copy, and you even started a sale for 30% off. Then what happens? You post and you didn't even get a freaking like on your post! Well, unless you count that like that your friend gave you :-/
In addition, when you list your product on Etsy or Amazon where there are multiple sellers fighting for the attention for the customer, your beautiful item can fall short. Not receiving attention it needs from the customer and even more gratifying, a view and purchase.
In the world of email marketing, you aren't competing with all the internet noise. Email is more of an intimate setting for a customer, where you are not competing for attention. It's just you, her/him and your message. Did you know that the chances of a customer seeing your product and what you have to offer (beautiful graphics and all), are 20-40% via email list compared to less than 10% when on social media and on platforms on Etsy and Amazon? Tough huh?
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5) It Can Greatly Increase Revenue In Your Niche Business
Tonya is a member of my Facebook group and highly understands the importance of building an email list for her business. More importantly, she understand just how important it is when serving a niche audience. She grew her email list from less than 2,000 subscribers to over 8,000 subscribers! Her revenue definitely followed, In February 2016, she has about 50 orders on average in a month, do you want to know what that number? On average she pulls in an average to 200 - 250 orders per month, all thanks to her email list.
Imagine selling a product that caters to really tall woman, that's pretty niche huh? The average height of a woman is 5'5, so when I say niche, I mean the amount of potential customers is smaller than the average business (in comparison).
If you sold this product, you are going to already have a hard time getting customers interested, so when you do finally find that customer, don't you want to hold on her forever and ever to make sure you can always talk to her when a new product line comes out or when you run a sale? Sure you do!
That is what your email list does for you.
It groups together all your customers that are interested in your product (or have purchased from you) and allows you to market to them. It's similar to posting a new product to your shop, BUT in this case, the RIGHT customers will see it. This means the chances of a purchase are higher compared to just posting it in a sea of customers. I mean, you worked hard on trying to get these customers interested in your product, and now that you have, you don't want to lose them or not have a way to contact them again. Who knows the next time you will run into a very tall lady, haha!
6) Helps You Compete In A Saturated Market.
We've all heard it...
"My market is saturated."
"My items are never going to get found with a million other jewelry sellers."
But what if I told you, that building an email list can help you with that problem? How? I'm glad you asked.
An email list is a a group of customers who gave you permission to grab their attention. In fact, you are not fighting for their attention in a sea of other people who are trying to also sell to them! Your email gets delivered directly into her inbox, and when she opens it, it will just be you, her, and your product. You have built this email list with customers who are interested in your product, so no more trying to survive in an ocean with no life jacket! Your email list is your life jacket to save you from trying to compete with all the other products in your market.
Did you also know that most selling platforms show off other competitors products when the customer found yours? Ugh! The nerve! That does not happen, nor will it ever happen with your email list. You control the message each and every time.
There you have it! 6 reasons why you need an email list for your small business. Ready to get started on one? Sign up here to be the first to hear about my Email List training coming out soon.
GOT ANY QUESTIONS OR COMMENTS? LET ME KNOW BELOW, I'D LOVE TO CHAT!
Oh and I also have a private Facebook group you can join and ask questions and my awesome members and I will answer :) JOIN THE GROUP