So, is the best, long-term way to online riches is by building a list?

Assuming that your list is highly 'targeted' to your products, that you have 'authority' (they believe, trust and listen to you) and assuming that you have chosen a good vehicle, then it's one of the best ways.

List are very valuable. If you build targeted lists and can monetize them correctly, you can be sitting pretty. Many people are doing it but it isn't as easy as 1,2,3 but it can be done.

List building equates to just 4 things: targeted traffic. Targeted offer. Engagement. Conversion.

There are a host of variables to the above but master those fundamentals and a list is one of the best long term assets you can have.

All the best Luke

Building a list and continuously selling to that list is just one of the best ways to online riches.

Another best way would be to create a high traffic website and sell ad space

yes no matter what kind of business you are doing, you need to build a list! I have many people on my list that have bought my products for more than 5 years!

If you do it right, then yes, building a list would be the best way to earn an income.
In reality, there is no "best way", there isn't a one size fits all, some people are better of earning money with freelancing or blogging or, whatever, it's all up to you in the end to find the best method to earn money online.

Build a following. Lists are just a part of that.

Without a doubt, having a list certainly contributes to one of the highest factors of why you should implement list building into your marketing strategy. There's numerous advantages to you, especially if you're looking at this long term.

No, it is not the best way. It is just one way. The "best" way is whatever method you choose to use that is acceptable to you and works for you no matter what it is. Many people make a sustainable income online without any list at all.

You speak of "Amazon, freelance, affiliate" as though they were alternate ways to make money when compared to building a list. They are not. It's not a choice between "a list" or these other vehicles.

You can and should build a following of prospects and customers ("your list") regardless of the model of selling you adopt in your business.

You need a way to stay in contact with your customers and prospects in order to build trust with them and to provide them with valuable assistance, information, occasionally your offers, and your opinions, values, and analysis within your niche. Your list is the series of contact points and lifelines you have with those that care to follow you.

So why shouldn't every business, regardless of what you sell or how you sell it, grow a maintain a list of those people interested in what you're doing? It's a basic foundational principle of doing business online when you can't be with your customers face to face.

I can not think of an online business that shouldn't employ this principle.

Steve

Everyone builds a list to one extent or another if you sell online.

For example - at the very least you have a list of buyers...if you sell through Clickbank, Paypal, or use your own shopping cart and sell through merchant account - you have a list of buyers contact information that you can (and should be) using to reinforce your products, get new product ideas and sell additional products/services to.

Building lists of leads is smart. Today, that list may just as likely look like a group of loyal followers to your blog, your FB page, your Twitter, YouTube, Pintrest or Instagram feed.

For example, my son is into League of Legends gaming and follows this dude's YouTube channel daily and has purchased some products from the recommendation this guy has made - no email involved just following his channel.

Same thing for podcasting - many people now follow their influencers via podcasts and then buy upon their recommendation after a relationship has been formed - no email involved.

The key is to build a following, a channel to distribute content, and a series of sales funnels that are inserted into that distribution method.

Jeff

Knowing that it's 4+ times more expensive to acquire a new customer than sell to an existing one it makes a lot of business sense to have and grow a list.

It's very similar to offline business in that sense. Hotels send you emails after you stay a night there for example, or a gym or many other types of businesses.

If Amazon is continually marketing to its list of customers than growing a list must be a good thing.

Hope this helps.

Everything you do is always going to have a "it depends" on it...

It depends on what you sell, how relevant and targeted is your list to what you sell, how much is every subscriber worth and how much does it cost to acquire a new subscriber.

List Value = Life Time Value of Subscriber - Acquisition Cost

But in simple words, yes, it is the best way to build a long term business.

Yes, your list is your online asset.

You can generate really good income from that.