Have you already heard this term? If you have, then good for you! This means you are starting to understand how marketing works. And if it’s a completely new term to you, don’t worry because not so long ago, I didn’t know about it either.
So, for those who don’t know what it means, it means that your bank account will grow as fast as your list grows. However, this is not as easy as it sounds if your list is a “cold” list. A cold list is a list you don’t have a real relationship with. Put simply, it means you don’t love them… and they don’t love you.
A little story about how I learnt about lists the hard way
I kind of understood that having a list was important. So, I started building my list but in a very wrong way.
For example, I once did a deal with Lucky Magazine where they would get to give away 50 of my bathing suits in exchange for my brand simply appearing on Lucky Break Deals Sweepstakes. I thought this would be a great opportunity because many new “fancy” ladies would get to know my line. So, I did the deal (which is the most expensive deal I have ever done because I had to give away 50 bathing suits to people who weren’t my typical customers). In exchange, the magazine were giving me a list of all the people who signed up for the Sweepstakes. So of course I added them to my list…
Another way of adding people to my list was including people who sent emails asking questions about my line…onto my list they all went…
I also added my customers…
So, I eventually had a list of almost 3000 people. And I was so excited about the size of it! I sent this list emails every time I had a new promotion. And even though my list was a good size, the sales just weren’t coming in.
Once I started my journey into the marketing world, I decided to start growing my list from scratch!
I forgot all about that 3000-name list and started a new one. Many people might think I was crazy when I had the opportunity to get in touch with 3000 people (of whom 100 unsubscribed)!
Today my list is not as big as 3000 but it is a truly amazing list. I’ve built a relationship with everyone on it, and I love sending emails to them. And every time I send a sale or a promotion email, the response is amazing! I make money!!!
So, what I learnt is that the size of the list does not matter, but the quality certainly does! You want your list to be made up of people who want to receive news from you. People who liked what you gave them in exchange for their details and, most importantly, people who enjoy receiving your emails. This is how you develop a priceless list, and this is where the money is. So yes, the money is in the list but only in a nurtured list!
I’m curious to know: are you building your list? If you are, are you communicating with them on a regular basis? Do you enjoy sending emails to them? Do they enjoy receiving your emails? Or do you only send an email when you’re running a promotion? If you do…keep posted for next week’s email from me :)