Short video/Q&A where Ryan Daniel Moran answers how to build an email list. He emphasizes thinking long-term about the lifetime value of each lead, being willing to invest (and lose money) to acquire leads, using appropriate traffic sources (Facebook, YouTube, Instagram, blogging) targeted to where the audience hangs out, and testing offers to convert traffic into subscribers and buyers.
Tony Rivera asks, what are your most effective strategies for building an email list? So I think the best thing that you could do when you're building any audience, an email list is just one way to have an audience. But it's look, first of all, at the long game. What is every lead going to be worth? An interesting exercise that I did recently was looking at. All right, if we collect an email address and half of 1% buys whatever it is that we're promoting, what's that worth to us? Okay? And how many of those leads will buy will come to our December event? Or how many of those leads will join our mastermind? And let's be really conservative with the numbers, and we can add up what every lead is actually worth and get kind of a guesstimate of what it is. When we look at it in that horizon, we realize that every lead is worth a lot more than we thought it was. Most people only evaluate building an email list based on dollars in and dollars out, and that's fine. But you'll be able to justify spending more money if you have more meat on the bone to work with, and you can just look at all your different products and what they're worth to you over a year's time. And that gives you the freedom to be able to make the investments that you need to build that email list. But along with that, best strategy for building an email list, being willing to lose money, being willing to just put in the time and the lost revenue, the lost profits to build up and get your leads and make mistakes along the way. I mean, building an email list is really the combination of some traffic source and the offer that you're making. Traffic sources are abundant. It is Facebook ads, it is YouTube ads, it's Instagram ads, it's blogging, it's wherever you are advertising in front of your audience. So where does your audience hang out? Put up the ad in front of those people, bring them over to an offer, and be willing to lose money along the way. We said on last week's episode of this show, we talked about, if you only have $500 to build a business, put all of that into building your audience. And the reason for that is because even if you lose your entire investment, if you spend $1,000 to build up an email list and you lose $1,000, but you get the leads, you get the audience, that is worth. That can be worth thousands of dollars down the line. So if we simply look at promoting physical products or building a brand, even if you lose your entire. If you don't make any dollars up front, building up an email list or building up the audience when you are in the process of doing that. But the day you go to launch your brand now you have hundreds or thousands of leads to market to. That's a win because you can cash that check immediately and you can scale a lot faster. So be willing to lose money. Be willing to look at the long horizon of what each lead is worth and then simply marry where your audience hangs out and what the offer is. Bring them together. Be willing to make some mistakes. That's how you'll build an email list that drives the growth of a business.
