How long till I can make a living off my list? 200 opt in a day

7 years ago

For a start, it sounds like you are doing very well to get that much volume without even promoting the website.

It is very hard to say how many email addresses you need to make the kind of money you are talking about. It depends on a number of factors. How responsive is your list? What is the open rate? What product types are they interested in? Are they interested in topics that will pay for you long term or 1 time payouts? What is the unsubscribe rate on each send? How well can you segment and target your list? Are you going to use a CPA or CPM model for the list?

Basically, how long is a piece of string?

70,000 is not a particularly large list, but if it is monetised effectively could earn a good return. It is all about how the data is used and whether you can find a good balance between the return on each conversion and not over-doing it with too many sends.

I would suggest finding a few good affiliate campaigns for products that compliment your original product and seeing if you can promote them to your user base as they are likely to be interested. You may then want to gradually test things that are less related and try to find any markets that respond well.

The key to handling a larger list is being able to segment your list, so it would also be good to start gathering more information about each person when they sign up. Anything that you can use for targeting, Age, Sex, Interests, Location etc. You can then start to target campaign directly at the correct demographics.

Just a few ideas off the top of my head. Hope it helps

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Jamie Costello

7 years ago

Originally Posted by Ben Friedman

For a start, it sounds like you are doing very well to get that much volume without even promoting the website.

It is very hard to say how many email addresses you need to make the kind of money you are talking about. It depends on a number of factors. How responsive is your list? What is the open rate? What product types are they interested in? Are they interested in topics that will pay for you long term or 1 time payouts? What is the unsubscribe rate on each send? How well can you segment and target your list? Are you going to use a CPA or CPM model for the list?

Basically, how long is a piece of string?

70,000 is not a particularly large list, but if it is monetised effectively could earn a good return. It is all about how the data is used and whether you can find a good balance between the return on each conversion and not over-doing it with too many sends.

I would suggest finding a few good affiliate campaigns for products that compliment your original product and seeing if you can promote them to your user base as they are likely to be interested. You may then want to gradually test things that are less related and try to find any markets that respond well.

The key to handling a larger list is being able to segment your list, so it would also be good to start gathering more information about each person when they sign up. Anything that you can use for targeting, Age, Sex, Interests, Location etc. You can then start to target campaign directly at the correct demographics.

Just a few ideas off the top of my head. Hope it helps

Thanks for the detailed response Ben. Much appreciated.

That's sort of what I was hoping to do. If they download a free tool a make, then try and sell them a better paid version of that tool eventually.

I was also thinking of bundling some trail software with my free software. In a non-sneaky way that they can easily opt out of. What do you think?

Also I am correct in thinking if someone gives me their email to receive a product via a download link that is opt in isn't it?

Very interesting in what you said about taking as much data about them as possible. Given me a few ideas! :-)

Thanks!

Thanks
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Ben Friedman

7 years ago

Originally Posted by Jamie Costello

I was also thinking of bundling some trail software with my free software. In a non-sneaky way that they can easily opt out of. What do you think?

Also I am correct in thinking if someone gives me their email to receive a product via a download link that is opt in isn't it?

I wouldn't force any extra software on them unless it is VERY clear what you are doing as this can look very spammy. People suspect that kind of extra download of containing viruses etc. So be very careful.

It would count as a opt-in if you put in the terms that they agree to receive future marketing emails. If they have just agreed to receive the download then that isn't really an opt in for future emails. The wording needs to mention future marketing.

If you can get their DOB for example then you can send them a "Birthday Offer" which they can only redeem on their birthday. This looks really personal, but it clearly isn't really. Anything that makes the end user feel special helps the up-sell.

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Jamie Costello

7 years ago

Originally Posted by Ben Friedman

I wouldn't force any extra software on them unless it is VERY clear what you are doing as this can look very spammy. People suspect that kind of extra download of containing viruses etc. So be very careful.

It would count as a opt-in if you put in the terms that they agree to receive future marketing emails. If they have just agreed to receive the download then that isn't really an opt in for future emails. The wording needs to mention future marketing.

If you can get their DOB for example then you can send them a "Birthday Offer" which they can only redeem on their birthday. This looks really personal, but it clearly isn't really. Anything that makes the end user feel special helps the up-sell.

Very true, you wouldn't believe the amount of people I've had literally ask me if my software has any viruses in it because its free haha.

Regarding, opt-in. Would they have to click a checkbox to say they've agreed to the terms or can it just be in small print under the submit email button?

Thanks
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Ben Friedman 7 years ago

Originally Posted by Jamie Costello

Regarding, opt-in. Would they have to click a checkbox to say they've agreed to the terms or can it just be in small print under the submit email button?

Check box is best, but if the terms say "by submitting your email you agree to receive future marketing emails" then you would still be ok. You would still be able to prove that they have opted in, but the check box is preferable.
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Kate H Smith

Banned 7 years ago

Well, your start is quite great. And, if you just push your subscribers to pay $1, after one-free month, with 70,000 subscribers, you can earn $70,000 per month. It's simple.

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Jamie Costello

7 years ago

Originally Posted by Kate H Smith

Well, your start is quite great. And, if you just push your subscribers to pay $1, after one-free month, with 70,000 subscribers, you can earn $70,000 per month. It's simple.

Hi Kate, thanks for that idea. I did think of doing a 1 month trail on everything but I'd like to keep everything free. My logic is in the long run the backlinks/buzz and word of mouth because everything is free will help it grow much quicker than if it was subscription based.

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Kate H Smith Banned 7 years ago

It's a good idea as well. As far as I know, though this business model, you can earn through advertising big time as well.
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Howard Mims 7 years ago

I'd have to agree with you. Applications that get installed mostly are the ones that are free. Most people wont buy until they've tried.
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The Author

7 years ago

You're quite realistic however, a responsive list like that may very well end up earning you a lot more. Ultimately, your content will determine both your conversion rate and required time. May I suggest content relevant to the free downloads you offer, perhaps some guidance with steps you identify as a "common need". If you can determine a common need and offer a solution, that would come highly recommended. And congratulations, building a list that fast and effective is a great accomplishment on its own. Wishing you prosperity.

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JohnVianny

7 years ago

Lots of factors involved.
u can maybe rely on this picture below

BUT

did u collect this emails THROUGH what source? i mean fb ads, solo ads?

It differs a bit.

You have to see the engagement, which is a parameter that mos of the autoresponders has.

But with so many leads, if they are can-spam compliant, you surely can live with them.

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Jamie Costello 7 years ago

Thats an interesting diagram! Is a 5% click through rate pretty average?
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- Howard Mims 7 years ago
  
  The people I've talked to say it's close to 1%
  
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Laksh

7 years ago

Good to have the quantity. But check out the quality to get the right numbers. I mean having 1k or 70k leads will not help if they are not active or warm leads. Depending on nature of your products (software you are giving away), you should be able to know/guess how many of these will leads would spend money on your next emails.

Some times people would jump in to grab the product & then leave. Start sending them relavant info or keep engaging them by offering another free software after answering a question or so ... This can help you grace how active they are about your emails & then you can look up & promote affiliate products or your paid product ..

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huan1hoang3

7 years ago

I suggest finding a few good affiliate campaigns for products that compliment your original product and seeing if you can promote them to your user base as they are likely to be interested. You may then want to gradually test things that are less related and try to find any markets that respond well.

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Zoe_21

7 years ago

@ Jamie Costello

you wouldn't believe the amount of people I've had literally ask me if my software has any viruses in it because its free haha.

Have you considered including the answer on your website in a FAQ section or on the optin form or download page to save time in your day with answering the same question over and over again?

Many possibly wont read your answer and will want to double check with getting a personal reply, however, when you see the same question from different website visitors, that's a clue that

I'm hoping for around 200 emails a day pretty quickly.

Am sure that you'll achieve and pass that figure too

Back to your question...

Challenging question to answer I think because only you can say what your minimum 'able to live off' figure is.

Bear in mind that with your calculations, what works for you, may not work for another having the same number of active subscribers

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discrat 7 years ago

...47 days
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Evan D

7 years ago

I'm currently writing emails and sales copy for a client with 80K subs. He has 5 info products in his funnel and makes between 30 to 40K per month.

Then, I have another client who sells one physical product at a $20 price point, and has made 500k in the last 90 days with a Shopify. setup.

How fast you start pulling down numbers like this depends on a variety of factors:

1) Product
2) Positioning
3) Scaleability
4) Effective ongoing messaging (copy)

Also, are they 200 subs a day freebie seekers? Or are they joining a buyers list?

If they are 200 buyers a day, that's obviously much better than 200 freebie seekers downloading a lead magnet.

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Jamie Costello

7 years ago

Originally Posted by Evan D

I'm currently writing emails and sales copy for a client with 80K subs. He has 5 info products in his funnel and makes between 30 to 40K per month.

Then, I have another client who sells one physical product at a $20 price point, and has made 500k in the last 90 days with a Shopify. setup.

How fast you start pulling down numbers like this depends on a variety of factors:

1) Product
2) Positioning
3) Scaleability
4) Effective ongoing messaging (copy)

Also, are they 200 subs a day freebie seekers? Or are they joining a buyers list?

If they are 200 buyers a day, that's obviously much better than 200 freebie seekers downloading a lead magnet.

Wow those are big numbers! How does he entice people to hand over their emails? The info product guy.

Thanks
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Evan D 7 years ago

Originally Posted by Jamie Costello

Wow those are big numbers! How does he entice people to hand over their emails? The info product guy.

Website and Blog SEO and YouTube Videos mostly.

Some JV's but not many.
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daronch 7 years ago

Originally Posted by Evan D

Then, I have another client who sells one physical product at a $20 price point, and has made 500k in the last 90 days with a Shopify. setup.

Is he using Facebook ads?
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- Howard Mims 7 years ago
  
  I'd like to know if it's through Facebook too?
  
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Brent Stangel

7 years ago

The key to handling a larger list is being able to segment your list, so it would also be good to start gathering more information about each person when they sign up. Anything that you can use for targeting, Age, Sex, Interests, Location etc. You can then start to target campaign directly at the correct demographics.

I suggest you poll subscribers after you have them on your list. The more info. you request on initial sign-up, the lower your opt-in rate will be.

If you ask for just an email, you will get a certain number. If you ask for name and email fewer people will opt-in. If you start asking for stuff like gender, age, location, etc. your rate will plummet.

After they opt-in you can poll them to find out more about them.

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GordonJ

7 years ago

Originally Posted by Jamie Costello

Hi Guys,

Firstly I realise there is going to be some big guess work going on here but I believe this forum is full of people who will be able to answer this far better than my guesses.

I own a website where I make free software to help their business growth online. I won't mention what its called because I don't want an insta-ban ha. But I've been working on it a while now and I'm enjoying it. I'm collecting around 40 emails a day (via people entering their emails to get the free software) and I haven't actually started promoting it yet really in any way.

So I'm hoping for around 200 emails a day pretty quickly. If I collect 200 emails a day how many months/years do you think it would take me (very approximately) to be able to live off this list (I'm UK based - lets say 20,000/$25,000).

If I have 70,000 emails after a year I'd like to think I could live off this list?

Am I being realistic here?

Any advice would be greatly appreciated :-)

A lot of speculation, at 40 a day, you may get 15,000 on your list of FREEBIE people.

Give me 2,000 BUYERS over 100,000 freebies any day of the week and I can make a substantial income from them, and so can you.

You are still at the "calculator millionaire" stage of your product. You need to figure out what products to offer to your list and then FIND OUT if they will spring for the money or not.

You may (or may not) be sitting on a gold mine, or it could be fool's gold and a time waster.

Your and several other's thinking is backwards. You believe a LIST is the answer, but until you get money from your list, it is all theory, assumption and you will find countless stories here of IMer's gone south with this type of mentality.

If you are getting 40 a day to sign up, what is your current CONTACT procedure? What questions are you asking of the people who download your software? How often do you stay in touch with them?

Slow down, you're getting ahead of yourself, spend some time in reality, OK?

GordonJ

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tyronne78

7 years ago

Well if you're giving away free sofware it won't matter how many people are on your list.

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GettingItFor

7 years ago

I have a list of 5,000 and I am lucky to get anyone to sign up to anything. My list does not respond well to any of my promotions.

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Andrew Hurst 7 years ago

Maybe switch to all value emails for a time and build authority and trust with them again. Maybe get some info on what they are looking for or need help with and customize products around that data and promote? Just brainstorming
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markowe 7 years ago

Originally Posted by GettingItFor

I have a list of 5,000 and I am lucky to get anyone to sign up to anything. My list does not respond well to any of my promotions.

Same here - my "freebie list" is almost completely unresponsive to actually spending money. I mean, I know you have to bring in fresh prospects from somewhere, but I am no longer sure luring them in with a freebie is the most cost-effective way. I think I will probably start deleting people after a year or something because if they haven't made it to a buyer's list by then, I am probably wasting money on aWeber fees...
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