Building An Email List – Investment or Expense?
Should you build an email list? And if you should, is it smart to invest money in building your list? Is it an expense you can forgo until you’re making money with your business? Or is it a vital part of growing a thriving online business? Find out whether or not list building is important and what it can do for you.
Igor Kheifets: I'm Igor Kheifets and this is the List Building Lifestyle, a podcast
for those who want to build a large profitable email list and make six figures from
anywhere in the world. If you would like to get rich by building a large email list
while helping people, this podcast is for you. I also invite you to attend a free web
class I'm conducting this week to find out how I built a list of four-million-three-
hundred-thirty-one thousand-six-hundred-and-fifty-six email subscribers at a profit.
Secure your free seat at Igor.cx. Attend this free workshop to discover an easy
way to get 50 to 500 new email leads per day on complete autopilot without losing
tons of money. Just go to Igor.cx to attend this free web class. And now, once again
it's time to claim your list building lifestyle.
Welcome back to another edition of the list building lifestyle, with your host Igor Kheifets. I've got this friend, he's an internet marketer. He's been around just as long as I have and you he got his start in ClickBank just like I did and a lot of things that were very, very similar. Now at some point, I ventured into silhouette [00:01:13] business and my friend went into starting his own business opportunity or maybe like a coaching program where he taught people how to make my online and give them a sales funnel and everything.
And over the years, he was very successful. He actually won one of those big awards that they give out on click funnels and he's just a very smart marketer. Now at some point in his business, my friend had to completely rearrange it. There were things happening in the industry that made him decide to kind of scale down and rebuild completely.
And so when a business does that, when a business goes from a proven way of operation, from selling one or two products in a profitable way and when you have to scale down and operations change and your profits go down and money stops coming in, businesses typically die. And I've seen people do it all the time.
I've seen people who own opportunities and people who own big affiliate businesses kind of change things around and all of a sudden, they lose all of their success because they, for lack of a better word, fuck with a proven system. So that's one of the things that I always was afraid to do.
You know why? One of the principles that I operate by is if it ain't broken, don't fix it. But my friend is a very smart guy and he saw the writing on the wall. He needed to change it and I think he actually done right to do so. And anyway, he spend the next two years changing the business, completely revamping the whole operation, changing their product line and everything. Again, when you do that, businesses typically suffer and fail, but he survived. Now how did he actually survive?
How do you survive if you no longer have your flagship product that you go to, right? How do you actually survive when the very thing that used to make you the most money is no longer available for you to use. Well, the way survive is by having a list.
And so I was chatting with him the other day and he shared with me that the only reason their business survived and now is back on track to have one of their best years yet is because for those two years, they literally lived off of their big list. Because all they needed to do, anytime they needed a cashflow injection, was to come up with an offer, a temporary offer or a small offer for their existing customers. Or they could sell one of their older offers. But instead of going public with it, they only sold it to their immediate customers, the people who already knew them and trusted them. And because their list was pretty big, substantial, they were able to not only survive but keep things up operating and keep their head above water.
Now my friend, I don't think he took out any salary in those two years, pretty sure he didn't. I'm pretty sure he put everything back into the business. But he was able to make payroll. He was able to pay for all operation costs and I think that's big because I see people go through these transitions and their businesses die and my friend's business did not die.
And I think aside from him being very smart, I think that list building was the key to that. So the reason I'm telling you ... I'm sharing this story with you is because a lot of times what I do is I help people build their list. It's one of my primary things that I do because I believe that having your own email list is the single most important, the single most ... well the best thing you can do for yourself, your life and your business.
Having a list of people who like you and trust you, having a list of people who know your brand value and the brand story. Having a list of people who are opening, reading your emails and listening to your opinion is probably one of the most bulletproof ways to cement your financial position in this world. Because you'll always have a tribe of people you can go to offer them something, exchange value for money, make a great living, help them out as to solve their problem and just overall have a great experience. This is your income security.
And a lot of times what I'm seeing is when I'm helping people build their email list, is they see it as an expense. And this is a very common mistake, especially the beginners make. They look at the cost per subscriber, they look at the cost per click or they look how much does it cost to convert one person. Listen, they're thinking, "Oh my God, that's such a big expense. Maybe I should go and I should try a different method instead that doesn't cost as much."
Well, the thing is that, just like real estate, building a list costs money.
Yo, it's Igor. If you're loving the content hop on over to listbuildinglifestyleshow.com for more free training and a free transcript of this episode. Oh, and I'd really appreciate if you logged into iTunes and rated the show. It really helps. Thanks.
Unless you found a way to drive untold amounts of free traffic to your capture page. In that case, my hat is off to you and you should monetize that as much as possible. But for the most part, to build a great list, you need to invest money into advertising, you need to build a funnel. You need to go through some of these motions.
And when people think about list building as an expense, they look at it almost like ... Look, when you're building wealth, when you're building anything that's stable and is capable of producing money for you month in, month out, it typically costs money. Again, great example, real estate. It costs money but it produces consistent revenue over time and it also increases in value. And so list building is very, very similar.
When you operate your list correctly, you build that list, you email that list every day and overtime the list produces more money for you all the time. So my experience has been the longer the subscriber spends time ... the more time they spend on my list, the more emails they open and read, the more likely they are to buy, the more likely they are to buy often and the more likely they are to buy something expensive.
And a great example to that was when we launched our list building mastermind which you can find at listbuildinglifestyle.com, it's only 97 a month. And when we launched it, we didn't do a Webinar, we didn't do a big announcement, we didn't do a big contest or anything like that. We just literally sent out an email to our email list and said, "Hey guys, we're starting a mastermind where you going to have access to Igor for $97 a month. If you want in, get on this early bird list and we'll notify you when it opens."
We had a thousand people get on that list and when we emailed them, we had 300 people join. That's a 30% take rate on an offer. That's incredible. That is just insane. And when you think about it, the reason that happened, the reason we were now able to launch a new program to our audience and experience instant success is because we got all these people ... all these people are waiting just sitting there waiting to get an email from us.
So list building is definitely not something I would consider an expense. And anyone who considers list building an expense or doesn't see it as a long term investment in their business, I think is making a critical mistake. And I've seen quite a few people who are very talented, who are really great at recruiting, for example. I met this individual at a seminar I attended recently and so he made I think $250,000 in personal recruiting into a new network marketing opportunity that promotes CBD products. And you know what? That's amazing. That's great. If you make 250 grand in the first year of promoting something like that, you're doing really well.
But guess what? That person is as great as they are, they are not allowed to stop. They're not allowed to stop hustling, if you will, because they always need to be looking for the next prospect. Now, people like us who are building a list, we don't have to do that. We can afford to send out a few emails to our list, launch a program and build out that program and not have to hustle for the next couple of months.
We can afford, going on vacation and not take our business with us and for the business to continuously produce profits. For example, in the same trip that I went to, I was gone for a week. In that week, I was averaging anywhere between nine to about $15,000 a day in my business. Why? Because the emails that I preloaded before I went out to the seminar, were doing all the marketing for me.
And so my point is this, if you'd like to achieve passive income, you need to build a list. If you're not building a list right now, then you need to start doing it asap. And if you don't know how to do that, I highly suggest you visit listlifestyle.com and grab my quick start guide on how to build a wildly profitable email list starting from scratch even if you don't have a product of your own.
And remember if you're looking to build a business that a year or two year, three years from now is going to be able to support you with passive income, is a business that will not require you to be in it for it to run and operate and continue making you money even when you're not working, the email list ... building an email list is the single most effective thing you can do. It's not building an agency, it's not a writing a Facebook ad, it's always going to be about building your list.
I think that this topic so important that I not only started this podcast on this topic, I not only devoted my life to it, but I also recently wrote a book about it with the same name as this podcast, list building lifestyle. So keep an eye out. We'll be announcing the release of this book really soon or it may have already been announced because you're probably listening to this after I recorded it.
So anyway, keep an eye out. And if you want to learn how to build your list, visit listbuildinglifestyle.com. So with that said, again, remember build your list because that's the key to financial freedom. This is Igor Kheifets. And until next time we chat, I have a good one.
Thank you for tuning in to the the List Building Lifestyle. Get access to previous
episodes, the transcript of today's show, and exclusive content at our website at
listbuildinglifestyleshow.com. Also, don't forget to claim your free seat at the
traffic workshop I'm conducting this week where I'm showing how I built a list of
subscribers without losing money. And how my clients are pulling anywhere from 50
to 500 new leads per day on their list at a profit without any list-building
experience. Just go to Igor.cx to claim your free seat now.