The Money is NOT in the List…

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You hear it so often, it starts having the ring of truth to it…

“The money is in the list.”

“Your most valuable asset is your list.”

“If you want to succeed, you must build a list.”

Of course, these platitudes are often followed by

“and my latest whiz-bang gimmick will build you list fast, with no effort on your part – become a wealthy person overnight for only $17…”

Let’s bust few myths today, shall we?

Let’s start with the big one: The money is in the list…

The truth is, the money comes from your personal relationship with each individual who consents to be on your list. You are getting consent before adding people to your list, right?

Many marketers see broadcasting to their list as somehow similar to being on stage in an arena full of people, blasting their message to the crowd like a 20 minute drum solo.

From the other side, the list member’s side, it’s more like sitting down and reading the mail. Ad, ad, ad, bill, ad, letter from Cousin Tillie, ad, newsletter from that guy… Your list members don’t think about the other list members. For them it’s one on one.

They say people sort their mail over their trash can. Well, they scan their inboxes with one finger on the delete key, too.

Next up: You have to build a list.

This one is only half true. If you are selling anything, at minimum you should have two lists. One for prospects and one for buyers.

Your prospects should get messages that move them toward the buyers list. Things like case studies, special offers, testimonials, benefit highlights. And always a call to action to become a buyer.

Your buyers you treat differently. You thank them. You provide valuable information so they get more out of their purchase. You suggest items that might help them get more out of their purchase. If you have a sales funnel, you want to move them to the next step.

If you sell information, maybe it’s an advanced version of your course or a video set or something. If you sell an air conditioner checkup, maybe the next step is an annual contract for multiple checkups, spring and fall. Whatever. You want to convert first time buyers into repeat buyers.

One more for today: You have to build a BIG list.

You don’t need a big list. You need a responsive list.

If you use direct mail, and you want a huge list, free, here’s one for you. Pick up the White Pages for your closest metro area. You now have a list of several hundred thousand residents of that area, complete with name, address and phone number.

Hit the entire list with your offer. The results will likely be microscopic.

Compare that to your buyers list. These are people who have already parted with actual cash once already. Hit them with an offer they see value in, and your response could be huge.

If you sell multiple products, start segmenting your lists by interest. Send your offers to only the segments most likely to be interested, and your response rate goes up again.

Summing up…

The money is NOT in the list. It’s in the level of relationship you can build with each and every person on each and every list. You should be building multiple lists and treating each of them in the most appropriate way.

Questions? Comments?