7 reasons an email list is a key asset for your business and why you should be building one
If you’ve been thinking about marketing your business online for more than 5 minutes, then it’s fairly likely you’ve heard a lot of advice about the importance of building an email list and why you absolutely have to have one to grow your business.
But, even though you’ve heard this advice you might have NO IDEA what that really means for your business and whether it’s worth the investment of time and creative energy.
Do this first: Build an Email List
Here’s why it’s so important: your email list is likely to be the most profitable asset in your online business.
The more email subscribers you have, the bigger your pool of prospective clients is, and the more money you can make with your business.
Sending emails to a list of people who have expressed some interest in your business is a key component of any high-performing marketing strategy. This is because you are 6x more likely to get higher click-through rates through emails as compared to social media posts. Critically, email is 40 times more effective at helping you acquire new customers than Facebook or Twitter.
Still not convinced it’s worth your time? Read on for 7 more reasons why you should be adding this as a priority item to your Marketing Plan next quarter!
7 Reasons Your Business needs An Email List
1- You can use your email list to build a relationship with your audience
Email is the best way to nurture a relationship with your customers. It doesn’t interrupt their workday, they choose to receive it, and when to read it — which all means that they are more receptive to it.
If they choose to read it regularly, they can get a real sense of your ‘brand voice’ and personality over time, which ultimately builds trust.
Think about it this way: if you rely 100% on your website for online marketing, once visitors leave your site they may never return. By getting into their inbox, you make sure that the conversation continues. There’s a personal touch in an email that’s hard to create in other ways online. This makes email a good way to form personal relationships with every person on your list.
2- You keep your brand top of mind for your audience
One of the most important reasons to start a list is that your recipients see your name every time you send them an email- even if they don’t open your email to read it. This means that the next time your recipient is looking for your service, your brand is more likely to be top of mind as they think who they should reach out to. So even if someone is on your list for several years without contacting you, you are still going to be one of the first people they think of the next time they need something your business offers.
3- You can use it to be of service to your audience
Being helpful and giving valuable advice on a regular basis to the people on your list shows your audience that your business exists to help them. This allows you to approach them from a place of generosity — which feels so good! — and is a great way to build trust with them. It also creates a reciprocity mindset. This means that if you have given me a lot of useful information without prompting or strings attached, I am much more inclined to buy from you because you have already given me something I value.
4- YOU own your list
An email list is something that your business owns, whereas Facebook or Instagram (or any other social platform) owns the contact information for your followers, not you. If a social media platform were to shut down tomorrow, you would lose all of them. Sending out emails list is an essential way of reaching your followers alongside any current social media efforts you are investing time in.
5- Everyone still checks their email
91% of US customers use email daily. In fact, it's the first thing most people do at the start of each day. Research has shown that about 90% of emails get delivered while only about 2-4% of your Facebook fans see your posts in their News Feed.
So if you post an update on Facebook to 1000 fans about 20 of them may see it in their News Feed, but if you send an email to 1000 subscribers, at least 900 of them should receive it in their inbox.
And honestly, even if you do get in their social media News Feed, they may just scroll by too fast to recognize that it’s from you.
6- Email gives you a good return on investment
According to Campaign Monitor, “For every $1 spent, email marketing generates $44 in ROI.” Here are some more statistics to show that emailing your list is worth your time:
Email conversion rates are three times higher than social media. (McKinsey & Company)
Email is nearly 40 times better than Facebook and Twitter at acquiring new customers. (McKinsey & Company)
The average order value of an email is at least three times higher than that of social media. (McKinsey & Company)
7 - It's great for keeping your audience up to date
An email is also simply the easiest way to share big announcements and keep in touch. Most people won’t check your website or social posts every week. But as I mentioned above, what do we know that 91% of them will do every morning? Yes, check their email! So, if you have something important to share, an email list is an excellent tool to keep in touch with your audience.
☑ Take Action
- Interested in testing the best email strategies for your business with expert help? Then I invite you to join me for a chat and we can talk about how to create the right strategy for you!
- BONUS: Download the free Social Media Content Calendar and Blog Editorial Calendar to start mapping out your list building strategies. When you download the Story Tonic Business Bundle you get a free template for building yours.