[List Building Series - 5] You do Not Need a Large List to Make Money

Posted by Mikkel Juhl on Oct 19, 2009 in General | 3 comments

There’s a popular myth out there that hurts most online entrepreneurs. The myth is that you need an extraordinary large list to make money. This isn’t true.

If you take a look. You should look after the marketers you think are successful, many of these are referred to as “gurus”. There is no shortage of material to be found, many of them has ebooks for sale, that will teach you how to build a BIG list of 10,000 or more people in a short period of time.

You do not need a list that are that big. Not even 1000 people to make quite lot money. Of course if you end up being completely successful, you will probably get hell lot more subscribers than a 1000, or maybe even more than 10,000.

Well the point is that you can make a very good amount of money even with a small list. One thing I learned some way back, is that even a list with 10,000+ subscribed (some of them will be gurus) only had a conversion rate under 6% from their list.

That definitely can equate a six figure income, but the conversion rate is very low.

Wouldn’t you rather have responsive subscribers and conversions of 25% or higher? (my conversion rate is about 60% which, could be improved but it is a good result.

I want to take a moment to mention testing here, because as you grow in your business, you will need to do lots of testing. Once you have a list that is growing, you can do split testing (also explained in lesson 2 I think). Simlpy putyou some of the dynamics in your sales letter, whether it’s headlines, or the information in the sales letter.

There are simple ways to send out different emails to different portions of your list, and then rate how they convert in sales, or just openings.

Imagine to make 500 sales from a list of 1000 people.

The best thing you can try is to build lists in separate niches, deliver awesome content and helpful information to them, answer questions and needs. This is how you build a working relationship with your subscribers.

This is the end of the list building series. I hope you enjoyed it. I will start a series on a new topic in a week or two. If you like series, please comment or contact me and tell me so. If you would like to see more series.