Last updated on July 17th, 2021. Posted in Increasing Business Sales.
With your online business's email marketing efforts, it's important to understand that you'll actually have at least two email lists -- so, you'll have a minimum of two email lists for your online business. This is because you'll have at least two types of subscribers.
Here are links and resources mentioned in today's video. Enjoy!
The first, and most valuable, list of subscribers you'll have is your "customer" list. This is the list of people who've bought from you already. The second list you'll have is a list of "prospects" or "potential customers."
This is a list of people who've expressed interest in what you're doing, who want to be informed about your products, services, and business, but who haven't bought yet.
Now, there's a critical distinction between these two types of lists -- both are important for you and your online business, but they need to be treated differently. Let's break this down -- here's what I mean:
As business owners, we don't really stop and think about sales or about the transaction that occurs between a buyer and a seller...but it's a pretty intimate affair. First, it's all totally voluntary. You cannot force anyone to buy from you.
Instead, your customers choose to buy from you...all of their own free will. And think about an actual transaction for a sec: When someone buys from you, what they're saying is, "I believe your product or service can fix my problem and give me what I need."
In other words, your customer is saying, "I trust you." And further, they're giving up their money -- which represents their security -- in exchange for what you're promising. This isn't to be taken lightly!
Meanwhile, your list of "prospects" or "potential buyers" haven't decided yet. They're still on the fence or they need more info...or they may even just be hanging around to get all your free stuff and have no intention of ever buying from you...and that's fine.
The goal with your "prospect" list should aways be to turn new, cold subscribers into warm leads and of course, to turn warm leads into happy, paying customers. So while your "prospects" list is important and needs to be cared for, your "customer" list is far, far more valuable.
Not only have they voluntarily engaged in an economic transaction with you...but if you've done your job and over-delivered on the value you've provided to them in your products and services...then it's infinitely easier to sell to your happy customers again in the future.
Why? Because the first "yes" is always the hardest. Once someone has said, "Yes, I'll buy," and they experience your great products and services first-hand, they now know you even better. This means getting second, third, and fourth "yes's" is 100x easier.
So while you'll have both types of lists in your online business...and while your "customer" list is more valuable than your "prospect" list, it's important to take care of everyone and make sure you're providing everyone with great value so that they'll continue sticking around.