How WRONG is this saying "MONEY IS IN THE LIST"

by PaulSolid Banned
41 replies
Hi Friends, No i don't intend to be controversial, but the trust is that i didn't agree with that saying from most internet marketers saying..."Money is in the list".

I have come to discover the real truth about this sentence. and here is the right saying of it... "MONEY IS THE RELATIONSHIP WITH YOUR LIST"

Do you agree with me?

cheers.
#money is in the list #wrong
  • Profile picture of the author curly sue
    Well it depends on the type of list. If you have a paying list that is more likely to convert that lists that sign up for free offers. Best list building strategy is to offer a product at 99 cents
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    • Profile picture of the author PaulSolid
      Banned
      Originally Posted by sexy sue View Post

      Well it depends on the type of list. If you have a paying list that is more likely to convert that lists that sign up for free offers. Best list building strategy is to offer a product at 99 cents
      I'm talking generally, either the list come through a free offer or 99cents offer. Without developing a good relationship with that list..then forget the money.
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  • Profile picture of the author Daniel Wilson
    Money is in the quality of the list. Relationship and mindset of the people you have on your list.

    List made out of crappy freebies is worth a lot less than a list from selling WSO's or selling some high priced non-guru stuff.
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  • Profile picture of the author AnniePot
    Originally Posted by PaulSolid View Post

    Hi Friends, No i don't intend to be controversial, but the trust is that i didn't agree with that saying from most internet marketers saying..."Money is in the list".

    I have come to discover the real truth about this sentence. and here is the right saying of it... "MONEY IS THE RELATIONSHIP WITH YOUR LIST"

    Do you agree with me?

    cheers.
    I agree absolutely. Your list is your best means of a sustainable, long-term income and you should nurture it accordingly.

    I join many lists, but quickly unsubscribe from, probably, 95% of them. Why? because their owners immediately interpret the fact I've provided them with my email address, as permission to bombard me with repeated sales pitches.

    If I visit your website about how to tap-dance in cowboy boots (boy, I think I need another cup of coffee), I expect your opt-in emails to provide useful and informative content, which teach me more on the subject, with OCCASIONAL references and links to niche related products.

    If you spam me with blatant sales pitches, I'm gone.

    As you say - the money is 100% in your relationship with your list. Treat your list with respect.
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  • Profile picture of the author JasonParker
    I've had that saying shoved down my throat for years, but the truth is the money's in finding out what your subscribers want to buy, put it in front of them so they can buy it, and have them thank you for it.

    "The money is in the relationship with your list" reminds me of going to meet friends out in the real world just so I can sell them things. I don't think that's the kind of relationship you want.

    If there's a relationship between you and your list, I think it should be that they know that you understand what they want and you're the the go-to-guy who gives it to them or shows it to them. You get money, they get exactly what they're looking for. Both sides win.

    Or you can "groom" your list to be your friend, which might result in a lot of buyers dropping off your list because what they're looking for are products to buy that fulfill their needs. They're ready to spend the money to get the solution they're after.

    They want a trusted adviser they can count on, or someone to show them exactly what they're after, not another friend. Friends are for Facebook.

    That said, there are a lot of different models that work. I'm just talking from personal experience.
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  • Profile picture of the author PaulSolid
    Banned

    Tips To Build A Stronger Relationship With Your Email List Subscribers


    I. Conduct online surveys. Invite your subscribers to participate in your business by asking them to take surveys to gather feedbacks on what they like and dislike about your products and services. If you intend to launch a new product for your company, you can gather some insights from your subscribers first before sending your new product for production.

    II. Send them useful articles. If you write articles about your industry products and services, send them the links to your articles. This is a great way to build rapport and credential.

    III. Set up a blog. A blog is useful to provide your prospects with latest information and updates about your company.

    IV. Send them free PDF reports. You should send your subscribers free PDF reports from time to time.

    V. Always deliver what you promised. If you promise that they will get a free email course from you for the next 5 days, make sure that you deliver the emails.
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  • Profile picture of the author zamzung
    That's quite logic because you can make money from just any list... if that would be the truth, then I guess you could buy one of those 1 million email addresses package and "spam" it few times per day... but that's not how lists work... it quite obvious that you must build a relationship with your list, just like you need to build trust in every website visitor...
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  • Profile picture of the author Guru_Marketing
    Originally Posted by PaulSolid View Post

    Hi Friends, No i don't intend to be controversial, but the trust is that i didn't agree with that saying from most internet marketers saying..."Money is in the list".

    I have come to discover the real truth about this sentence. and here is the right saying of it... "MONEY IS THE RELATIONSHIP WITH YOUR LIST"

    Do you agree with me?

    cheers.
    I think Frank Kern was talking about this in one of his product launches. Money is in the list, only if you have a good relationship with that list.

    When you attach the label of "money" to a mailing list, you stop thinking of providing value, and start thinking of extracting value.

    The difference in the mindset would determine who much money you make as a result of "having a list."
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  • Profile picture of the author gtone
    I agree totally. I would not want someone to have my e-mail address just to keep sending me sales pages. So, as marketers we have to put ourselves in the clients' shoe.....
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    • Profile picture of the author Bjarne Eldhuset
      The "relationship" begins with what you promise people before they sign up.

      If you promise to send them 1 great promotion every day, and you do, and they actually are great, people won't get mad.

      If you promise them a 7 week e-course, and nothing else, and every other e-mail is a sales pitch, they might get mad.

      You set the expectations, not only on the sign up page, but also in the regular communications with your list.
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  • Profile picture of the author Abdullah Isa
    Both of these sayings have been about since internet marketing itself, and both are true.

    It is commonly known among those who take online money making seriously, that, firstly having a list is a valuable tool because of the advertising angle: it allows you to instantly advertise to "x" number of people (who, as a bonus, have purchased from you, or have acquired something from you in the past) very cheaply. [If you have a large list and a cheap provider for your services, the price is basically free].

    Secondly, the money is also in the relationship with your list because research has established for fact that people are more willing and likely to buy something from somebody they already know, trust or like.

    I hope my answer was helpful.
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  • Profile picture of the author nasuryono
    Yes, that is very true. There are so many spammers out there now that will promote any product to their list. They see their list as a cow to milk from and they got no respect from their list.

    You need to treat your list as a real human beings, not just numbers in front of your computer. So many times we forgot that we are dealing with real humans because we can't see them.
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    • Profile picture of the author JohnMcCabe
      Originally Posted by PaulSolid View Post

      Hi Friends, No i don't intend to be controversial, but the trust is that i didn't agree with that saying from most internet marketers saying..."Money is in the list".

      I have come to discover the real truth about this sentence. and here is the right saying of it... "MONEY IS THE RELATIONSHIP WITH YOUR LIST"

      Do you agree with me?

      cheers.
      I think you are close. I'm going to tweak it one more time...

      Money comes from the relationship you have with the people who make up the list.

      Too many email marketers, especially the 'churn and burn' types earlier posters bemoaned, lose track of the fact that there is a human behind that email address, not a wallet, ATM, or some other sort of 'cash machine'.

      People join your list because they want to accomplish a goal or solve a problem. Help them do that, treat them with respect, don't insult their intelligence, and they'll gladly stuff money in your pockets.
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  • Profile picture of the author Nickolie0990
    No, no a million times no. The money isn't in the list, nor is it in the relationship you have with the list. SCREW the list, the money is in the passive cash flowing assets you create.

    I don't know about you, but I would much rather have the cash flow then a list of subscribers that I would have to educate and take care of.

    So I say screw lists, focus on building passive cash flowing assets.

    Also, let's stop with this "the money is..."

    THE MONEY IS IN THE MONEY.
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    • Profile picture of the author HN
      Banned
      Originally Posted by Nickolie0990 View Post

      No, no a million times no. The money isn't in the list, nor is it in the relationship you have with the list. SCREW the list, the money is in the passive cash flowing assets you create.

      I don't know about you, but I would much rather have the cash flow then a list of subscribers that I would have to educate wnd take care of.

      So I say screw lists, focus on building passive cash flowing assets.

      Also, let's stop with this "the money is..."

      THE MONEY IS IN THE MONEY.
      +1

      Screw the list. What can you do with a list? Spam it legally. What most people do? They come up with stupid email titles just so the people on their list would open the email.

      Is there a better way?

      Hint: Tell this to Mark Zuckerberg: "You know Mark, I think you need a list, well you have the largest membership site on the planet, but you should really build your email list"
      Does that sound like a nonsense? Do you get the hint?

      If not, here it is:
      Build a real business, ie. a membership site (facebook, tube, forum, article directory etc) so you don't have to spam people and come up with silly email titles to get attention.

      Can you make money with a list? Of course you can.
      Can you make money if you create the next facebook, youtube, WF, google? I have no idea. Maybe you can make a few cents? *scratching head*
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  • Profile picture of the author paul nicholls
    it is certainly in the relationship but also what many people don`t tell you is it does not happen overnight either

    forget fast money and thinking "i want to make money from my list"

    instead think "how can i give tonnes of value to my list"

    once you make that transition you will start attracting money instead of always chasing after it

    paul
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    • Profile picture of the author Alexa Smith
      Banned
      Guys, this thread's from last year ... "just saying".

      It just got bumped earlier today because someone many posts back, who perhaps didn't realise, wanted to advise us to wear other people's shoes. Not that there's anything wrong with that, of course.
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      • Profile picture of the author Michael Oksa
        Originally Posted by Alexa Smith View Post

        Guys, this thread's from last year ... "just saying".

        It just got bumped earlier today because someone many posts back, who perhaps didn't realise, wanted to advise us to wear other people's shoes. Not that there's anything wrong with that, of course.
        I'm glad it was bumped, regardless of why. It's a conversation worth revisiting.

        My take on it is that every message you send to your list IS developing a relationship of one kind or another. If it's a bad relationship your list will shrink. If it's a good relationship your list will grow.

        Every list is different and the best way to build that reltionship will vary. Some lists don't want any of the touchy-feely stuff, they just want to buy; other lists don't want to feel like they're being sold to.

        At any rate, every message sent is developing a relationship.

        All the best,
        Michael
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        • Profile picture of the author Lance K
          Well...the "relationship" is with the list. So, technically the money is still in the list.

          Consider this...

          The money is in your prospect's wallet. It's your job to figure out how much value you need to offer (and the best way to present them that offer) to get your prospect to trade you their money.
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  • Profile picture of the author Joe Crosbie
    I agree totally!

    I would say that 95% of the lists I have signed up for, only to find soon after that the quality of content is just not interesting for me. The emails are full of offers to products I have no interest in, all of the emails feel impersonal!

    The other 5%, I read every single one of their emails because I get a "personal feel" from them and the content is good and genuine! It's nice to feel like the person sending the emails is genuinly trying to help and not just make money from you! I totally agree with the saying "MONEY IS THE RELATIONSHIP WITH YOUR LIST"
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  • Profile picture of the author shane_k
    I think you are missing a big point.

    When someone says "the money is in the list" it's because they are trying to convince those IMer's who don't capture the contact info for their site visitors.

    BEFORE you can start talking to someone about HOW to properly communicate with a list, you first have to SELL them on list building itself as a viable strategy.

    Once you have sold someone on the idea that list building is a viable option THEN and only then can you start moving forward on teaching them HOW to properly implement that strategy.

    So some people do need to hear "the money is in the list" multiple times in order to get it through their head that they are missing out on money they could be making that they are not now, because they don't currently have a list.

    And if you look at it like that, comparing someone who is driving traffic to their site and making one sale, but missing out on tonnes of others because they have no way to follow up with that traffic, to someone who is able to follow up and have more chance to sell, upsell, cross-sell, etc then yes it is true that the money is in the list.
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  • Profile picture of the author gamcoder
    It should also be list of people who are not only willing to buy, but able.

    That is key - i made this mistake my self... Don't market to people, who can't buy (for example don't have credit cards)
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  • Profile picture of the author willay
    For sure the money is in the value you give to your list. Proving them with what fk calls results in advance and always keeping goodwill high. And in the solid product funnel your list goes through.
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  • Yeah the money is in the list until Aweber shuts your account down with no warning:

    http://www.warriorforum.com/main-int...r-account.html

    So yes I'd say the money is in the relationship. If Aweber shuts your account down and you have a backup of your entire list, you can upload it to a new email marketing service and have a higher percentage sign back up to your list.

    ...Rather than having a list that you just send promos to all the time... Not many people will sign back up to that list.
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  • Profile picture of the author Randall Magwood
    The REAL money is in the backend marketing list.
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  • Profile picture of the author TNTROCKS
    The money is "in the list" but the bigger money is in the RELATIONSHIP with the list IF you know how to take advantage of that.

    I have a program where I teach people how to sell $5k products or higher. I have done that few hundred times. Everything from software to websites to turnkey businesses to real estate.

    The key is to learn how to sell on teleconferences and webinars and then drive them to a paid strategy call.
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  • Profile picture of the author Mike Hill
    Originally Posted by PaulSolid View Post

    Hi Friends, No i don't intend to be controversial, but the trust is that i didn't agree with that saying from most internet marketers saying..."Money is in the list".

    I have come to discover the real truth about this sentence. and here is the right saying of it... "MONEY IS THE RELATIONSHIP WITH YOUR LIST"

    Do you agree with me?

    cheers.

    Well that's what they mean... When they say the money is in the list of course they mean the relationship with your customers as well, but it doesn;t just stop at the relationship that's why it's encapsulated with "The Money Is In The List" I guess they figure marketers, for the most part, are smart enough to figure that out... It really is a no brainer.
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  • Profile picture of the author Kommrad Khol
    It's pretty much implied.

    It's like taking "Content is king" and saying, "No guys, great content is king". You're just stating what's already been implied.
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  • Profile picture of the author Shaun OReilly
    Originally Posted by PaulSolid View Post

    Hi Friends, No i don't intend to be controversial, but the trust is that i didn't agree with that saying from most internet marketers saying..."Money is in the list".

    I have come to discover the real truth about this sentence. and here is the right saying of it... "MONEY IS THE RELATIONSHIP WITH YOUR LIST"
    If the money is in the list then you could just go on eBay
    and buy a list of millions of people and get rich instantly.

    So the money is NOT in the list.

    And, the money is not necessarily in the relationship with
    your list either.

    Why?

    It's possible to give your list tons of great information so
    they love you... yet they still don't buy.

    Having a good relationship with your list helps, but it's not
    a pre-requisite to making money from your list. There are
    many list owners who unfortunately don't care about the
    relationship with their list but they still make good money.

    So...

    More accurately, the money is in the BUYING BEHAVIOR of
    your list
    ...

    Do they BUY or do they NOT BUY?

    Personally, I believe in building a strong relationship with
    the people on my list, and I pay close attention to their
    buying behavior too.

    Dedicated to mutual success,

    Shaun
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    .

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  • Profile picture of the author AngelZone07
    Yup its all about buying behavior...remember though proper influence and persuasion behavior can be modified.
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  • the money is in the buyers on your list... sort of... really it is in the products you sell.
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    • Profile picture of the author Steven Wagenheim
      The money is in giving people who have money to spend and are willing to spend
      it, something that solves a problem, want, or need that they have.

      Everything else is just a lot of marketing mumbo jumbo BS that's been spoon fed
      to us for more years than I care to count.

      I stopped believing in the Easter Bunny a long time ago.
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      • Profile picture of the author JasonParker
        Originally Posted by Steven Wagenheim View Post

        The money is in giving people who have money to spend and are willing to spend
        it, something that solves a problem, want, or need that they have.

        Everything else is just a lot of marketing mumbo jumbo BS that's been spoon fed
        to us for more years than I care to count.

        I stopped believing in the Easter Bunny a long time ago.
        It's funny how these old threads emerge and you get to read what you said nearly a year ago.

        Sometimes I'm like, "Did I really say that?" but this time I would say pretty much the same thing.

        I agree with Wags here based on my own personal experience.

        And... Although I've seen deep relationship building work really well, I don't believe in doing it just to make a buck.

        I don't care if others do it, but it's just not in me to be that way.

        I mean... I don't try to sell things to my friends. Do you?

        This is the first time you've probably heard someone say that relationship building could possibly have a downside, god forbid.

        In marketing I think you're more of an advisor than a friend.

        You can show empathy and show you understand where they're coming from.

        Most of all you take that understanding of your customer and point them toward what they want.

        So in a way it is a relationship.

        Anyway... Just about everyone who teaches "relationships" does the complete opposite most of the time lol...

        I've seen alot of different ways to market to your list and many ways work.

        Different people prefer different ways and there are different approaches depending on your end result you want.

        So different strokes for different folks I think.

        I'd say test things and do things the way you like to do them.

        That's the way to do it... The way YOU want to do it.

        There's more than one way to skin an orange.
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        • Profile picture of the author JohnMcCabe
          Jason, I think you may have hit the nail on the head. The money is in the relationship you have with the people on your list, as I said above.

          But the word "relationship" gets pigeon-holed to mean "friendship". You don't have to be BFFs with the people on your list. As you touched on, how often to you try to sell stuff to your friends? And if you do, how long do they stay your friends?

          On the other hand, it's quite possible to build a solid relationship based on satisfying wants and needs, even if that means selling something.

          The good news is that the list owner gets to set the parameters for the relationship. The subscriber either buys into that and comes along for the ride or checks out, either by unsubscribing or simply ignoring the list owner.
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        • Profile picture of the author Lance K
          Originally Posted by JasonParker View Post

          I've seen alot of different ways to market to your list and many ways work.

          Different people prefer different ways and there are different approaches depending on your end result you want.

          So different strokes for different folks I think.

          I'd say test things and do things the way you like to do them.

          That's the way to do it... The way YOU want to do it.

          There's more than one way to skin an orange.
          ^^^^
          This

          I think a lot of people say you should do things based on their personal feelings.

          The thing we all have to remember is that we are not our market.

          We have to figure out exactly who our market (some say avatar, etc.) IS and test to see what works with that market. Let them vote with their wallet.

          If someone gets cranky about how often you're mailing, what you're promoting, etc. it may well mean that they simply don't fit the market you're trying to serve. And trying to cater to those who don't fit the market you're trying to serve is not a wise business decision.

          Figure out what YOU want to do (i.e. who you want to help, etc.) and test to find the most effective ways to meet YOUR objectives.

          You ARE going to lose subscribers along the way. You ARE NOT going to please everyone. Strive to help those who are looking for help and jive with the way you do things.

          There is no "one size fits all" approach to email marketing.
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  • Profile picture of the author JimDucharme
    People like to boil complex things into pithy sayings. Yet, however easily a saying rolls off the tongue, it doesn't always stand on it's own. It's a starting point and often catch phrases are just reminders of the more complex best practices they represent. I agree with the OP and others who've made the point that the money is really in the relationships you build with the subscribers on your list.

    Regards,
    jim
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  • Profile picture of the author thecableguy
    Originally Posted by PaulSolid View Post

    Hi Friends, No i don't intend to be controversial, but the trust is that i didn't agree with that saying from most internet marketers saying..."Money is in the list".

    I have come to discover the real truth about this sentence. and here is the right saying of it... "MONEY IS THE RELATIONSHIP WITH YOUR LIST"

    Do you agree with me?

    cheers.

    Totally agree, emails from some marketers automatically puts me on the defensive without even opening the email (which often DOESN'T get even opened), whereas those marketers that actually sends useful info (not JUST a description of their affiliate link) gets there mail opened and read A LOT more often with an opened mind, rather then a "what's he selling now" kind of attitude.
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  • Profile picture of the author MatthewWoodward
    I agree entirely.

    The list I have built via the video tutorials on my blog is one of the most responsive lists I have built!
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    • Profile picture of the author Daniel Evans
      The saying isn't wrong.

      It just isn't elaborated enough to make perfect sense.

      Daniel
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  • Profile picture of the author Rod Cortez
    Originally Posted by PaulSolid View Post

    Hi Friends, No i don't intend to be controversial, but the trust is that i didn't agree with that saying from most internet marketers saying..."Money is in the list".

    I have come to discover the real truth about this sentence. and here is the right saying of it... "MONEY IS THE RELATIONSHIP WITH YOUR LIST"

    Do you agree with me?

    cheers.
    Nope, because you're splitting hairs. The money is still in the list. In fact, there are plenty of marketers who make a ton of money with their lists without building a real relationship with them. So while there is money in the relationship with your list, that is not always the case.

    RoD
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