Subscription Rate: *** Getting subscribers here can be a lot harder, but the rewards greater. As these lists are generally smaller than a large sized e-zine, the numbers can seem a little off putting, but it’s far better to have a list of 1000 dedicated loyal customers that buy from you over and over, than a list of 100k who don’t even read your mailings. Remember quality over quantity. Many subscribers may have also bought from you before.
Ad income: * Virtually zero direct ad income. It’s possible to sell small ads to people if you get short of cash, but it can be harder to do if your list is smaller and more focused than some of the e-zines out there. It’s even harder to charge the price it’s worth for this very same reason. If you do decide to sell ads here and there, keep it rare. Very rare, or your list will lose it’s purpose and subscribers will move on. Don’t forget to push your response rate tracking stats too, or you may find people don’t buy at your higher prices for smaller numbers and stick with an e-zine ad, which to an uneducated eye, provides better value for money.
JV Circle: ***** Due to the personal nature of this list, it’s easy to start talking to people, specific subscribers even, and to become a target for other marketers with similar lists in the same category. Don’t be surprised to find yourself in high demand as this is prime territory to create many a profitable joint venture. That list of people I was sending reports to that we talked about earlier, that was my first mailing, and I still have a bunch of them on my messenger contact list. From just one mailing. Not bad huh? This is what joint venture prospects look like and is by far the most effective way to get them.
Response Rate Over Time: **** Great response rates over time are expected due to the trust you build with these people in such a personal manner. Unless you mess something up big time, loose their trust, annoy them or suddenly stop offering them the insight and knowledge they’re looking for, they’ll keep reading what you have to say, buying your products, and checking out your recommendations. This is especially useful for inflating the value of your list to your JV circle. Watch what you mail very carefully though. One slip up or bad move and it could all be gone.
General usefulness: **** Who’s more responsive, your friends and acquaintances or random people you put questions to on the street? Again, this is where the personal touch is handy. As far as they’re concerned, they’re getting something very important from you. Make sure to ask for something in return in the way of surveys which should be aimed in the general direction of assisting the subscribers in some way, even if you’re publishing the results for their use, a great research tool at your fingertips.
Maintenance Time: *** Three stars and very variable. Sometimes it can take you ten minutes to write a mailing, sometimes less, sometimes a lot more, depending on what you’ve got to say, which makes maintenance time hard to judge unless seeing each circumstance in turn. Not as bad as a fully-fledged e-zine, though not as quick as some of the lists we have yet to talk about. This is a good bet if you’re short on time, or want to dedicate your days to something more productive, or just don’t like writing e-zines and doing research and using outside articles.
Important note here: These are base figures and your exact results may be higher or lower than the stated. It’s more to give you some insight into aiming your business in the right direction than to give you exact figures and numbers and guaranteed base earning, response rate, income, number of JV prospects etc.
Right, we’re out of space here. See you in part two, where we’ll be looking at two more list maintenance methods (the final two) and some general non-technical tips to keep your list pulling in the cash like crazy. Stay tuned.