List Building & Lead Magnets: Build Email Lists & Profit
WHY you should build an email list
- Email marketing commonly generates 15-30% of stores’ revenue. What would your business look like over time with 15-30% more revenue? It’s very important to build this list, because the bigger it is, the more revenue you get from email marketing.
- Building an engaged email list is a great long-term move for your brand.
- Also, the only things you own in e-commerce are your website and email list. These social media platforms are rented, they’re more likely change over time.
- It helps generate repeat business which is good long term.
- Here is how to build an email list with Facebook Ads:
- Make separate campaigns for this, and target top of funnel AND middle funnel audiences.
- Link the ads to a signup page for a LEAD MAGNET.
- A lead magnet is something of value that people would submit their email address for. This could be free downloadable content, a free video course series, or entering a giveaway.
- Some Lead magnet best practices:
- It should solve a REAL problem for your target customer
- Promise a quick solution
- Is very specific
- Simple, easy to understand
- High perceived value
- Instantly accessible
- Demonstrates credibility for your brand
- It should solve a REAL problem for your target customer
- For example, a lead magnet that could do well is “110 Michelin-star-chef vegan recipes for FREE”. It’s specific, has a lot of perceived value, has authority.
- The landing page FOR YOUR LEAD MAGNET should have a field where one enters an email address in order to redeem the free thing.
- Make separate campaigns for this, and target top of funnel AND middle funnel audiences.
- You can MONETIZE THIS IN THE SHORT TERM:
- Many brands fear that they’re spending ad dollars on something with no direct purchase conversion, so it’s hard to track returns, but that’s no true.
- To monetize these campaigns, have purchase upsells immediately after the signup ON the signup confirmation page.
- This often works well because the audience’s guard is down, they’ve signed up for your lead magnet so you take you somewhat seriously.
- One great trick we see work REALLY well, is upon signup, have a little bar that says “50% complete”, and have a sale pitch video (or Video Sales Letter) on the screen, and say “watch X amount of this video to access [the free thing]”. If you have a really good Video Sales Letter here, this can be very effective, and VERY Profitable.
- Many brands fear that they’re spending ad dollars on something with no direct purchase conversion, so it’s hard to track returns, but that’s no true.
- We have several brands where we get THOUSANDS of email signups for less than $1 each, and the ROAS on the upsells pays for the ad spend handsomely.
- AND, if done well, the ROAS on the upsells can even just be a profitable campaign upfront.
- SO… TO SUMMARIZE: Make ads for a lead magnet, have a great lead magnet, and upsell them after they sign up for the lead magnet.
Thanks for listening, and if you’d like me to send you some examples of this, feel free to email me at eric@voymedia.com, put PODCAST in the subject line.