If You Don’t Have This….You Are NOT in Business
To be perfectly honest, if you do not have a contact list, you are only hurting yourself!
Email lists are extremely vital to the success of a business, and when used properly, they become the heart and soul of your Internet marketing efforts.
Email lists bring money, and without them, you are missing out on many opportunities to make money.
However, you may still be questioning why you should invest time in building a list. Well, let’s briefly examine some truths about consumer behavior.
Getting New Customers
Research has shown that potential customers may not become conversions through the first encounter with your brand. They may be interested in your products and/or services, but sometimes they are unable to finalize their purchasing decision at that exact moment.
Customers who come into contact with your brand may be in different stages of the sales funnel, and that has an influence on whether or not they purchase.
Also, with so many products out there, people are often looking to compare offerings before they take action. However, that does not mean that they are out of the question for a sale in the future… that is unless you have no way to reach them again!
Contact Lists allow you to acquire contact information from these prospective customers. By obtaining this contact information, you are essentially giving yourself a way to stay in touch with the people who have already expressed interest in your company. These people are often only one more interaction away from a sale!
Without a list, you are essentially allowing your competition to become more appealing as your prospects continue to browse the Internet.
Keeping in Touch with Existing Customers
Lists also allow you to maintain a relationship with your existing customers. If you are on the mailing list for any company, think about how you personally interact with these brands through their mailing lists.
Did you know that it costs five times as much to attract a new customer than to keep an existing one? The first rule of any business is to retain customers and build a loyal relationship with them and thereby avoid customer acquisition costs
This is not to say that we shouldn’t go out and get new customers, but if we can keep a larger percentage of those customers for a longer life cycle, we build on a revenue foundation that is more profitable and predictable; two factors that have created tremendous wealth for entrepreneurs.
For a business to survive, it’s critical to personally connect with every customer because with advances in technology and increased competitive pressures, if you don’t connect with them, someone else probably will.
According to a Bain & Company study, 60-80% of customers who say they are very satisfied with a product or service from a company do not go back to do more business with that company. How can that be?
Often it’s due to a lack of connection. Customer satisfaction and loyalty mean nothing if they can’t remember exactly what company did that nice job of fixing their leak last year, cleaning their carpet three years ago, or the website where they bought some great gifts last Christmas.
Disconnection is the main reason why so many one-time customers never translate into lifetime customers.
You must keep the interaction going so that you remain on top of your customers'/clients' minds. And if you do it well enough, they will purchase more items from you! Truth be told, marketing to repeat customers is often the best way to drive sales.
There is money that you are missing if you are not implementing a marketing strategy that involves using a list.
However, if you are reading this part of this post, you have already taken an important step in ending this detrimental cycle. Now, let us get deeper into how to build a list. Continue reading our posts.