Have you been racking your brain to find a way to monetize your tiny email list? Don’t fret because Marc Mawhinney has created a model to make $100,000/year with a tiny email list, and he’s here to share it with you.
Guest: Marc Mawhinney is a marketing coach, host of the Natural Born Coaches podcast, and an email marketer who found the best strategy to monetize his tiny list of 4000 subscribers through solo ads.
[00:51] The podcast reveals the best tips and strategies to make $100,000 a year by selling solo ads to a tiny list.
How to make $100,000 a year selling solo ads to a tiny list?
[02:26] Marc Mawhinney outlines his mailing model:
- I will promote whatever we decide we’re promoting. Usually, it’s a live webinar for the partner, but sometimes it’s not. Sometimes it’s something else. And they’re involved in everything in my ecosystem.
- I’m emailing my list every morning about them. Blog posts are everywhere on social media, but the Facebook group is a big part of it, the coaching jungle.
- I only work with one partner at a time just so we don’t muddy the waters. And then I charge a flat fee for it. Partner keeps 100% of sales with it.
[04:00] Why should you mail your list every day?
- I’ve been emailing daily since April 2016, so it chases away anyone who’s like, oh my God, I don’t want to hear from this guy every day with it.
- MailChimp did a study and they discovered that the lowest unsubscribe rates are the ones on lists that get emailed once a day. And the highest unsubscribe rates are on the list that gets emailed once a month.
[06:50] Marc explains how he organizes his offers:
- I don’t like to have ten different offerings.
- I have a week-long option. I also have a three-day option, which is about half the is half the price, just condensed into three days with it.
- I do add some other bonuses. I give them some digital products that I have and things like that, but I also look at it more long-term.
[08:04] The big three criteria:
- The big three criteria I have are that if anyone’s ever interested in setting it up for themselves, it has to be something that’s relevant for my community.
- Obviously, in my community’s coaches, it has to be something that’s good because my name is attached to it. So I got to make sure that it’s legit.
- I try to keep ones that aren’t if I just did one two weeks ago with someone who does YouTube ads, probably wouldn’t do one this quick with someone else that does it.
[08:52] How frequently should you promote an offer?
- The promotional frequency at one point for me was once every three to four weeks. And these days I can do them back to back, no problem.
- And one of the reasons there is actually two reasons for that, that I found to be acceptable. The first reason is if somebody is into something, they’re really into something.
- You can’t bore people with things they’re interested in.
- The second thing is, I’ve been looking at my list and I’ve been checking out the people who opened my emails so I know exactly which promotion they open as well. So if you opened an email, like this week and then the previous time you opened it was six months ago I’ll know, and I looked into it and it turns out that different people open emails on different weeks, which means different interests attract different people on my list.
[13:56] How did Marc begin his journey with solo ads?
- I got online with coaching in 2014, and for the first four years, I did joint ventures traditionally.
- I would promote someone, they’re selling a program, whatever price, and I get 25% of the sale, or 50% or 40%, whatever.
- I’ll pull ideas from swipe copy, but I’m not the type to just copy and paste if a partner gives me a swipe copy because I’d like to have it in my own language.
- When I set it up this way in late 2018, set up the page, which is www.jvwithmarc.com.
- I do my joint ventures differently. You can get the most details on this page, and if you’re still interested in chatting, there’s a link to book a call with me there. And it chased away anyone that was willing to pay, just strictly commission or whatever. So I really saved myself. I don’t know, I would say at least 100 calls a year.
[21:18] How to price your services?
- I know it’s not terribly scientific, but a lot of it is supply and demand.
- When it was 2000, I started to get swamped with people who wanted all these spots. So I increased it to kind of help with that where the demand was there. And then every six months to a year, I would increase again.
- You want to be aggressive with the charging and stuff, but you don’t want to be overly aggressive and push too far either.
[26:14] The campaign Marc regrets:
- Well, I had one partner, and he made close to 30 on the campaign, and we did a few. I think it was the one we did on December 23.
- If I had done a 50-50 split or whatever, he could have made double or almost triple what we did.
- At the end of the day, there’s going to be some that it’s going to hurt me with.
[27:22] The importance of having boundaries in business:
- I’m all for having boundaries. Structure your business the way that you want to structure it. Your business, your rules.
- You kind of have to set those boundaries. You have to know what these boundaries are.
[28:21] Why does Igor prefer selling Solo Ads?
- For me personally, the reason I love selling Solo Ads is not only because of this possible fluctuation and results but the predictability.
- Knowing that every day I’d make $1,000, give or take, based on how much volume I had at the time, really helped me.
[35:00] Learn more about Marc Mawhinney:
- Marc’s Podcast: Natural Born Podcast
- Facebook Group: Coaching Jungle
- Visit www.jvwithmarc.com