We hear it all the time: “Start building your email list.” Or even worse, “Do you have a list and how big is it?” There’s no denying that the consensus around building an email list is that you should get going, and fast. But why? Today we’re going to look at ten reasons to take action and get your list growing, because what’s in it for you is going to make you a happy business owner. I promise.
1. Your email subscriber list growth is the key business metric to track for online business owners.
If you could measure just one thing other than revenue for your business to tell you how well you were doing … what would it be? It shouldn’t be website traffic, because traffic can be fleeting. It shouldn’t be press mentions, because once you’re out of the media spotlight, you’re easily forgotten. The best way to tell if your business is growing or stagnating is by the amount of new email subscribers you’re getting every day. Oh, and how many are dropping off is just as important … you don’t want to be filling up a bucket with holes in the bottom, but we’ll talk about that more in points #5 and #9.
2. Your email list is one of the few true business assets that you “own” and can take with you.
There’s always a new social media platform popping up, but the one thing that isn’t going away anytime soon is email. With an email list you can communicate even if Facebook changes its algorithm or reduces your reach. With email you can change websites or domains and not lose any of the momentum you’ve built up. It’s really the relationship with your list that you can’t lose, and for that reason alone your email list should be guarded like your favorite pair of shoes.
3. With a bigger email list, you have more reach and could be spreading your message to a wider audience.
If you have more reach with your message, you can make a bigger impact with your business or philanthropic causes. This also has a ripple effect, with each person on your email list being a potential evangelist who will share beyond your existing subscribers.
4. Working on building an email list helps you get more clear on your message, and on what people want more or less of from you.
When you’re creating an email opt-in offer and asking people to join your email list, you need to get clear on the value of what it is you’re offering. If you’re not having success with a specific offering, try something new or different and see if you get a better response. This type of experimentation is what helps you get more clear on your brand and message.
5. You can increase engagement and start email conversations with more people, which can turn into a small army of advocates for your brand.
Email is a two-way communication device, even though most email marketers think of it as a broadcast medium. This means that you can ask questions of your email subscribers, and get the conversation started. That personal touch goes a long way!
6. Building an email list leads to an upward spiral of opportunities for interviews, press, and joint ventures.
The more people know about you and hear from you regularly, the more likely you are to be approached for cool opportunities. When you become “top of mind” in your industry, people will think of you first when they’re looking for someone to interview or partner with.
7. Having a bigger email list positions you as an expert worth listening to.
If no one knows about you, then it doesn’t matter how talented or helpful your business might be … but once you’ve been able to amass a tribe, it sends a signal to others that you’re worth listening to. Think of it as the Bieber effect—once people hear that others are really digging your emails, they’ll want to check you out and see what all the fuss is about.
8. When you have a bigger email list, your colleagues and other people in your industry approach you with more “deals.”
There’s an upward spiral that happens when you start building your email list. More of your colleagues and peers will want to partner with you, or do list-building events together. This in turn will help you grow your list even more! But there’s no need to wait until you have a substantial list to partner with other business owners—you can get started right away.
9. As you continue building an email list, it will make the time you invest in writing your weekly newsletter even more worthwhile.
This is where a lot of business owners get caught up: the time it takes to maintain your regular newsletter. But here’s the thing to keep in mind: every subscriber on your list is an incredible human being with hopes, dreams, and fears just like the rest of us. So if you can be grateful for every one of them as you write your newsletter, you’ll start to feel incredible every time you sit down to communicate with them.
10. An increase in email subscribers means an increase in potential sales.
This is the big one, and I left it for last because it’s really obvious … but the more people who are aware of your products and services, the more sales you can make. The piece that really makes this happen with email marketing is that you can follow up with interested prospects more than once. You don’t need to hope that they see your tweet or run an ad to get their attention. Your regular communication schedule is designed to help you sell more, and that’s why your email list is one of the best indicators of the health of your business online.
Building an email list
There you have it — 10 reasons for building your email list. Have any other suggestions? Share them in the comments below!