It’s slightly aggravating when I hear people bragging about email their email list size. You've probably heard the same from some local advertising or marketing firm. Here in Rochester, NY, we have a local advertising company that tries to impress everyone with their ridiculously large email list. Don’t be fooled by big email lists! The size of an email list is rarely related to your return on investment from that list. In many cases email lists are haphazardly thrown together. Internet marketing dude Frank Kern said it best, “It's not about the size of the list. It's about the quality of the relationship you build with the list.” You should strongly consider Frank's advice, he made over $150,000 in 20 minutes with an email list of less than 800 people.
If you’re using an email list to market your event, focus on building a high quality list that you can engage in meaningful conversion. The relationship you have with your list is huge factor in determining how many people actually buy. It’s also imperative that you vet any partner lists that you might use to market or promote your event. Below are a few ideas you need to consider . . .
Lessons from the Battlefield
My own client projects have helped to drive home the quality versus quantity ideology. Recently, one client sold $61,450 worth of event tickets in 6 just days with a house list of 3,100 people. Their list of 3,100 people was grown from zero, all online, in less than 2 months with organic traffic. Another client who focuses on establishing an online relationship with his list is doing amazing at quickly converting new list prospects into buyers. He’s able to convert over 40% of new subscribers to his list into buying customers in less than 30 days. The previous examples are not meant to brag, but merely to impress what one can accomplish.
- Ask yourself, “What can I start doing today to have a better relationship with my list?”
Joint Ventures/Cross promoting
If you’re considering a joint venture or cross promotion for your event, check some of the most basic metrics of your partner’s email list. Here are some simple questions you need to ask when marketing your event to another list:
- How was the list built? (Purchasers, Opt-ins, Co-ops, or What kind of offer)
- What's the recency and frequency of communication with the list?
- Where the names and email address collected online or offline?
- Is the list segmented? (leads versus customers)
- Is the list single or double opt-in? (double opt-ins are better)
- What is the average open rate? (look for a minimum of 20%)
- What are the click through rate?
- How often is the list emailed?
- What are the average subscribe and unsubscribe rates?
- When an offer is made what are the conversion rates?
There are other important questions you should ask, but most people neglect to find out the basics. If you find out the answers to the above questions, you’ll be well ahead of the pack.
You Need Your Own List!
At the end of the day a high quality house list is the single best list for promoting and marketing your event. I’ve seen a house email list of 3,100 people completely crush a partner list of 23,000. Both lists had very similar demographics and psychographic profiles. Another client promoted their event using a partner list almost twice the size of their house list. The client’s own house list generated 98% of total revenue. If you haven’t started your list for marketing and promoting your event, start one today! Check out the helpful resources below to get you started.
Want to get more great info? Check out the articles below:
- Event Marketing: Start Building Your List Early
- Automatically Generate Leads for Your Event Year Round
- Keeping Your Event List Engaged
- Don't Neglect Your Email List
- Event Marketing: Multiple Ways to Engage Your List
- Simple Customer List Building Suggestions
- Start Building Your List Early
- Late Event Promotion - Big List Growth
- Building Your List Above the Fold
- Are You Opting-In Above the Fold?
- Form Placement and Growing Your List
- Turn Your Event Into an Experience
- The Event Promotion System
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