4 Hidden Benefits of Building a List
IBO – Independent Business Owner/Helper
It is said that the money is in the list. Therefore, a list is extremely valuable to any marketer. List building is not just a simple marketing tool. It is one of the most valuable tools. When a marketer builds a list, it has several benefits to make marketing more efficient for your business.
"When people think about building the list, the number one reason is making sales, either as an affiliate or for your own products. However, a responsive list is valuable for a number of other reasons. There are a lot of other ways that you can benefit and profit from your subscribers aside from simply pushing products onto to them.
Everyone on your list is interested in the type of products that you are selling and the market that you are catering to. This means that your list is a great way to do some market research. Send out a poll or survey every month and you will find out exactly what your target market is looking for in a product. This helps to ensure that your next product will be something that your market wants. There is nothing worse than spending time and money on a large product, such as a membership website or video series, only to discover that no one wants to purchase them. By using your list to gauge the market interest in certain topic areas, you can avoid this completely.
Using your list to test products is another great idea as well. Once you have created a product, such an ebook or video series, it is a great idea to send your list an invitation to test your product. Obviously you still want to market this product to your list once it is completed, so you may want to limit the amount of test products to 25 or 50 (depending on how responsive your list is). You can then take the feedback that they give you and use it to improve your product before you sell it. Additionally, you can find out if there are any additional complimentary products that could be useful as well as add value to your product package.
One of the biggest problems that most people have is setting the right price. Your list can help you out here as well. By giving away a few copies (10-25) of your product before its release, you can get feedback from your list regarding the price. Setting the right price is essential to maximizing your profits from each product. Set it too low and you may sell a lot, but miss out on the profit margin that you could have had. Price it too high and you simply won't sell enough to maximize your profits. Not only can you get a better idea of what price to charge, but also find out ways to add value to your offer in order to charge a higher price.
Most people who manage a list allow their list members to email them with questions and comments. It is extremely easy to take the questions that you receive and turn them into a product. It can either be a product for sale, or a free product for your list (or to get people to join your list), or even be used to promote an affiliate product. Surveys and polls can be used the same way. If your list has questions, there is good chance that other people are asking the same questions somewhere else. By simply answering these questions, you can create a product that many people will want."
List building should be a priority. You should definitely think about list building if you want long term success. Therefore, it should be one of your main goals. List building can take your site from nowhere all the way to being a large site in just a little time, consequently, you should take care about growing your email list.
IBO – Independent Business Owner/Helper
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