048: Email Marketing: Are You Building a Buyer’s List? (Or Any Kind of Email List At All?) and the “Why Didn’t You Buy” Email

Remember this:

Your customers get trained to open your emails.
Your customers get trained to buy from you.
Your customers get trained to attend your webinars.

Whoever has the biggest email list wins. Facebook and Twitter followers are not that list.

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Think about that for a second. You can post all day but who has the biggest list in the world? Facebook. When you're on Facebook, don't you receive emails from them AT LEAST weekly?

Even if a customer opens your website or followers check out your Facebook page, all of the most popular sites (Amazon, eBay, Netflix, Facebook, Pinterest, Instagram) use email lists too.

"It worked so well, I stopped doing it."
In other words, don't neglect your list.

When we first start out doing something, sometimes it goes so well that we get lazy and we backslide. Then, we start losing income and we have to work twice as hard to get to where we were.

Numbers, Numbers, Numbers

A lot of people are shooting for the wrong kind of numbers...

It's not a big achievement to say you have a 0% refund rate if your website says absolutely no refunds and you spend your time ineffectively arguing with customers over $5 and $10 transactions.

Don't waste your time moving people from one list to another to achieve a "false" click-thru rate:

Say you have a list of 10k subscribers. Many people send out an email saying something like, "I have a new course coming up soon and I don't want you to get bombarded" so "instead, I want you to go join this other list to be on the exclusive XYZ launch list." They'll send their subscribers to that new list to sign up for the launch.

Let's say out of your 10k subscribers only 100 sign up on the new list. That's a really small amount...

When they announce the launch, 80 of those 100 click on it and they have an 80% click thru rate. In reality, your total interested subscribers are really only less than 1%. It's a lot of unnecessary steps.

A better use of your marketing is to get 100 new subscribers per day to your EXISTING list.

How? Add some exciting content to your blog, like videos.

Then, on the sidebar, you say something like "if you want to get exclusive articles, sign up here" and then you create the opt-in page where you offer a free report of your best few pieces of content. Now, you have additional potential customers on your list.

The service you use for this is called AWeber. AWeber is a permission-based (i.e. your customers "opted in") email marketing system...

$1 Dollar Visitor Value

This means that when you average everything out, when someone lands on your webpage, you want that visit to be worth $1.

If you're selling something for $100 you want that to convert at 1% to equal $1. If 100 people go to your webpage and you have a $100 product you want at least 1 buyer for that $100 product.

That's why you want 10k subscribers, at a minimum, so if you have a $1 per visitor value you still make that $10k per month.

Daily 1% List Decay

Your email list is going to decay every day by 1%.
If you have a list of 10k people, you can expect to lose 100 people per day.

At first, that goal of adding 100 people a day we talked about earlier sounds like a lot, but at some point it will level off in that if you're losing 100 people per day but you're gaining people at 100 per day you are still at a net list of 10k.

Expect a 2% click thru rate list-wide.

That means if you have 10,000 subscribers, expect 200 people to click thru when you send an email. If you have a $100 product for sale that is moving, then you can expect at least $200 a day in sales just from 2 people at a product that's $100 each purchase.

Then, if you email your list about the same product for the next 5-7 days in a row, the rate of clicks remain about the same. At a 2% click through rate, if you sent out 10 emails on that same product, you could expect to get 20% of that list to buy.

That would be 200 net people for sales of $2000. This can really add up.

You want to have a 6% refund rate when it comes to your products. If it's lower than that, you are not marketing aggressively enough and you're not selling enough. Any higher and there may be something wrong with your product. To learn this whole system and get vital information on how to successfully build and utilize your list, check out IncomeMachine.com.

Things You Need to Do to Successfully Utilize Your List

Have a way for people to sign up and become email subscribers.

Give them a way to "opt-out." Every now and then you'll see opt-out's. If every now and then 1% or so opts-out of your list, you're doing your job right. Besides, you don't want to waste your time marketing to people who will never be interested.

Market to your list. Don't forget about it and don't be afraid of it.

If you do at least once a week, that's great. Robert does once a day. Have something interesting to say every day:

Did you check out the thing I have for sale? Here's the coolest thing about it.
Describe different feature(s) of your product every day.
Give them a couple of good reasons to click on a link, to go to one of your podcasts or blog articles for example.

What to Avoid in Your Email Marketing (Important!)

Some people will tell you to write stories in your emails, that it will keep people coming back for more. No, no one reads all their emails and they usually don't read them in order. Customers will get tired of doing this.

Some people advise you to come up with about 20 tips about some such subject and send your list one tip every day. This is just a great way for your customers to save your emails in a "saved email folder" and never get around to reading them.

What's worse, another tip is to interview 10 experts, and include 1 interview each day. Your subscribers get tired of that because if they miss a day or two that's a few hours to catch up on and they'll give up.

Pay attention to the emails that get the most click-thru rates
Pay attention to the email others send that get YOU PERSONALLY to click through
Pay attention to what headings seem to work, or are "weird" (in a good way, because they get noticed)
The best subject lines that work are ones like: "hey", "frustrated", and other one-line "teasers."

An email subject line that just says "frustrated" works well because it makes people question what's frustrating.

When they open the email, you can then talk about what's frustrating in business. For example, how to write an e-book, how to publish it, etc. and then tell them the "simple solution" which is your product.

The first 7 days are most important. Even if you don't want to email people every day, when they first become subscribers, email them once for 7 days in a row.

That's when they're hungry and looking for an answer to their problem and might be ready to buy something to solve it. In the first few days, you want to email them the link to get their free content, and then email them about your product.

After that first 7 days, you want to get them to take any kind of action. Opening an email and clicking a link is an action.

Even if they're not ready to buy just yet, they may still be thinking about it, so you want to throw out some questions in those emails to get them to think about how buying your product is going to solve their problem. That's where the "why didn't you buy?" email comes in.

Use The "Why didn't you buy?" Email

This is super-important and is the best email to send.
"Why didn't you buy?" IS the subject line.

In the body you say something like, "I noticed you haven't yet claimed your membership to our Make a Product book creation course. Did you know that we can show you how to: (insert what your product claims to do). Click on the reply button and tell us why you didn't buy."

This does a few different things: If they already bought from you but get this email, you can reply: "Great. What did you think of the course? What motivated you? Where's your book?" so now you can piece together a testimonial to use from this person to use on the sales letter.

If someone is an "on the fence" buyer and writes back saying, "I didn't buy because of X reason", maybe they say the price is too high... now you can tell them there's a payment plan
If they say they can't be sure the system works, you can tell them there's a money back guarantee
If they say something specifically related to the product, you can tell them the solution or maybe you need to add something in the sales letter
Even if they never plan to buy, you still stand out because a lot of people never even bother to ask

This email gets the most responses out of everything that Robert sends. They came to YOU looking for a solution.

Find out why they haven't bought the solution yet. Don't forget that you can find out more about this entire program of list-building and successfully utilizing your list by going to IncomeMachine.com. It shows you how to:

Build a free opt-in page
A paid membership site
An email follow-up sequence
A sales letter
How you can utilize the list for paid ads, etc.
And more

Join Income Machine 2.0 to Claim Your
All-in-One Money Making System Now

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Filed in: Archive 1: 2012-2016 • Podcast

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