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Email Marketing

Yes Size Matters With Your List

You may hear a lot of people boast about the size of their lists like them having a 10,000 subscriber list or even a 100,000 subscriber list.

Well, here’s the deal. That is amazingly cool and so needful, especially if you are an online entrepreneur. 

Why?

Because size really does matter.

Now before I get into the “why” let me recap for a moment as to why you need an email list in the first place and then I’ll talk about size.

You Need An Email List For 6-Figure Impact

If you really want to have a 6-figure launch of your program, and if you really want to consistently grow your business to where you are earning a consistent 6-figure income, then you need to have an email list that is consistent with 6-figures.

That means you are going to have to grow your email list with consistency every day.

You may recall in one of my previous posts, I called this process A.B.L.E. (Always Be List-Building Er’Day). 

List-Building must be built into your daily business operations.

Download your quick and easy guide to growing your email list.

But here’s the beauty of you building a list… your email list ultimately becomes a private community that you build for your business, exclusively. Yes you may have a Facebook group or maybe you’re a part of other Facebook groups – and that’s great. But having your own email list that contains the email addresses from people who have given you their express permission to contact them is a whole new ball game.

Think of your email list as your way of forming a community that centers around what you do as a business owner, your services, your messaging, your value. You have a captive audience of people who just love what you are up to.

Also, with your own email list, you have the best channel for starting conversations with a closed group of people who are just that into you. It’s your audience that is just waiting for you to give them what they need, which ideally are your offers.

You can reach out to them as frequently as you like and they can reach back out to you directly with a swift click of the reply button.

This is what I so love about having my email list. When I pose an intriguing question or when I ask “how can I help” to my email list of wildly ambitious female entrepreneurs (and a few “Millionairess Entrepreneurs in Waiting”) they reply back. 

We’ve established contact, connection, and dialog. It’s wonderful.

Size Matters Is In The Numbers

Every thing in business basically comes down to the numbers and your email list is no exception.

That is why your number one priority and biggest business imperative is for you to focus on growing your list (remember A.B.L.E.)

It’s not enough to occasionally run a Facebook ad. It is not even enough to simply post an article on your blog every once in a while.

Nope. Your list-building needs the power of consistency and a cohesive strategy, which involves taking action to consistently grow your list every single day – again, A.B.L.E.

It’s all in the numbers.

You having that 6-figure launch with 6-figure impact is no secret. It’s all in the numbers.

So let’s check it out.

How Size Matter to Sales Conversion

When you have a healthy and well-nurtured email list, the typical sales conversion rate (converting a person on your list into an actual buyer) is typically some point between 1% to 5%.

Of course, if you have a really good list consisting of the right fit of people for your offers the number can be higher.

So here’s an example.

Let’s say you want to make $10,000 on a program you have that sells for $1000. (We will call this your Launch Earnings Goal or LEG for short). Based on these numbers, it means that you need to get 10 people into your program in order to hit your LEG. $10,000/$1000 = 10 buyers.

So how do you calculate what size list you need to have in order to pitch and promote your offer and get 10 people to buy?

Well, you’d take your 10 spots and divide it by your list conversion percentage (a percent of the people who will buy your offer) To be ultra conservative, we’ll use 2% as the conversion percent.

So in our example, this means for 10 sales and about 2% of your list converting into buyers, you will need 500 people on your list.

So the question here, before we go on to the next step is… do you have a list with at least 500 people? Hmmm.

Do the math and know your numbers.

By doing the math, you can basically ensure you’re going to make money based off of how many people you have on the list.

Something else that comes up with my clients around list building and the size of their list, especially when it comes to doing big launches is that the larger your LEG (Launch Earnings Goal) and the higher the cost of your offer, your conversion rate may be lower.

For example, if you want to launch a program and your LEG is $100,000 launch and you are selling it for $2,000, you may only get a 1% email conversion rate. In this example, you would need to have 50 sales, which means you would have to have a list size of 5,000.

By doing the math, running the numbers, and having a well thought out strategy, you can basically ensure you’re going to make money based off of how many people you have on the list. 

This is why the size of your list matters.

Final Thoughts

It is important to remember that today, for female entrepreneurs to ROCK their business, email is by far the most effective communication platform between you and your ideal clients.

Both content and conversion experts agree that building an email list is vital. So keep posting in your Facebook group, keep posting in other Facebook groups, and everywhere else on your social media to grow your list. (Good sales copy and the right fit of traffic also helps.)

But at the end of the day and for 6-figure impact, size really does matter.

After doing the numbers for your launch, is the size right? Drop me a Comment below. Let’s dig into the conversation. ♥ME♥

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