Seth Godin: Woman Builds List Sells for $100+M - Check It Out
I was listening to a video last night where Seth Godin was discussing the power of permission based marketing and specifically optin email marketing.
As many people may know Seth is a much bigger fan of email than he is of new social communication technologies like twitter, facebook, etc....
In a way it makes sense as email has proven itself and been around for more than 20 years (if you recall Warren Buffett always talks about the value of sticking with the fundamentals and what has proven itself over the long run...).
Anyway the importance of the conversation was not so much about email vs. twitter/facebook but about the encouraging story of the woman who started DailyCandy.com (About Us - DailyCandy).
From their website they claim over 3 million subscribers and apparently they started off very basic with just a newsletter sending out daily fashion tips (and it appears the business model hasn't changed alot).
I think this is very encouraging and just shows that a permission based list is a truly valuable new media asset that companies are willing to INVEST IN AND PAY MONEY FOR.
I think in IM people get so obsessed with getting links, traffic and a whole host of other factors that have less of a determining factor in how much a business is worth THAN PEOPLE REALIZE.
Coming from a corporate and investment background I know that companies would take a website that has a 10th of the traffic as another website if the first website has a targeted and responsive list (and even better a subscription based business model).
You can check out the video here:
Do you think that alot of IMers still don't realize the importance of building a *quality relationship* and a responsive list? Perhaps info marketers yes but alot of people doing CPA don't see to - what do you guys think?
As many people may know Seth is a much bigger fan of email than he is of new social communication technologies like twitter, facebook, etc....
In a way it makes sense as email has proven itself and been around for more than 20 years (if you recall Warren Buffett always talks about the value of sticking with the fundamentals and what has proven itself over the long run...).
Anyway the importance of the conversation was not so much about email vs. twitter/facebook but about the encouraging story of the woman who started DailyCandy.com (About Us - DailyCandy).
From their website they claim over 3 million subscribers and apparently they started off very basic with just a newsletter sending out daily fashion tips (and it appears the business model hasn't changed alot).
I think this is very encouraging and just shows that a permission based list is a truly valuable new media asset that companies are willing to INVEST IN AND PAY MONEY FOR.
I think in IM people get so obsessed with getting links, traffic and a whole host of other factors that have less of a determining factor in how much a business is worth THAN PEOPLE REALIZE.
Coming from a corporate and investment background I know that companies would take a website that has a 10th of the traffic as another website if the first website has a targeted and responsive list (and even better a subscription based business model).
You can check out the video here:
Do you think that alot of IMers still don't realize the importance of building a *quality relationship* and a responsive list? Perhaps info marketers yes but alot of people doing CPA don't see to - what do you guys think?
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