Thoughts on List Monetization

11 replies
I am wondering what people are doing as far as monetizing their lists.

Ryan Deiss in his Authority ROI course states that you should look at making $1- $3 per list subscriber per month. I am rapidly approaching 10,000 subscribers, but I only hitting about $0.33 per lead and that is gross profit.

So my question is how do you monetize your list? I have a $17 product and a ton of affiliate offers that are all under $50. Do you need large ticket items to make the money that Ryan is talking about? For this niche, coaching isn't a good fit.

Also how do you market to your list? Do you have an autoresponder drip with offers mixed in with content or do you send out offers to the whole list on a regular basis? Or maybe a mixture of both?

I have no problem if people drop off it they aren't going to buy, but how do you avoid the spam complaints.

Curious to what other warriors are doing out there.

Mike
#list #monetization #subscribers #thoughts
  • Profile picture of the author Eric Lovelace
    Hey Mike,

    What I have done is after finding high value offers. I create an autoresponder series at least a month out.

    As long as the offers are high quality and your delivering value in the email such as giving them the down and dirty on the product how they can use it in their business, etc. they shouldn't drop off that bad.

    I am also seeing now through testing to maximize my customer value I send the offer out 2x a day. Clicks, Opens, and sales seem to go up by doing that.

    Also I have seen others talk about list segmentation. One of my next products.

    Where you send out a series of emails related to different areas of your niche. For example IM niche I would segment the list into who wants to learn more on FB, Who wants to learn more about list building, etc.

    That way you maximize each sub because they are on a list that is relevant to their main interest.

    Hope my information was able to help you in some way, shape, or form.

    Eric
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  • Profile picture of the author Mike Martel
    Hi Eric,

    Thanks very much for the thoughts!

    Mike
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  • Profile picture of the author IanM723
    Originally Posted by Mike Martel View Post

    I am wondering what people are doing as far as monetizing their lists.

    Ryan Deiss in his Authority ROI course states that you should look at making $1- $3 per list subscriber per month. I am rapidly approaching 10,000 subscribers, but I only hitting about $0.33 per lead and that is gross profit.

    So my question is how do you monetize your list? I have a $17 product and a ton of affiliate offers that are all under $50. Do you need large ticket items to make the money that Ryan is talking about? For this niche, coaching isn't a good fit.

    Also how do you market to your list? Do you have an autoresponder drip with offers mixed in with content or do you send out offers to the whole list on a regular basis? Or maybe a mixture of both?

    I have no problem if people drop off it they aren't going to buy, but how do you avoid the spam complaints.

    Curious to what other warriors are doing out there.

    Mike
    A lot of marketers are actually mailing everyday. I don't think you have to necessarily have big ticket offers to promote as that is not most of what I see (mostly $5 - $50 range).

    I think the key to avoiding the spam complaints is just trying to provide some value mixed in with the offers. I think you are always going to get at least some spam complaints, I have even gotten them on some totally free information with no affiliate offers but by providing value consistently I think you can at least minimize it.
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    • Profile picture of the author myob
      If you are not selling high ticket products you certainly are not maximizing ROI, and most likely are leaving a whole lot of money on the table.

      My subscriber lists go through a series of progressive selling promotions, where each autoresponder sequence introduces incrementally higher end products after every purchase.

      The messages are sent daily and include niche-relevant information, free resources, a few jokes, sprinkles of affiliate product ads, and a hard-hitting promotion for sequentially higher ticket products in the marketing cycle.

      It's important to have a conspicuous unsubscribe option (mine is a notification at the beginning and end of every message with easy unsubscribe link).

      In addition, conversions increase dramatically by providing contact information such as email, telephone, mailing address, social media, etc.

      Besides building trust through a series of satisfactory transactions, it's also almost always going to require personal communication on multiple channels other than just email to close the larger deals.
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      • Profile picture of the author Mike Martel
        MYOB,
        Thanks. That is very useful.

        I do have the unsubscribe notice at the beginning and end. I am looking/working on some products $97 - $297.

        Thanks,
        Mike
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        • Profile picture of the author myob
          Originally Posted by Mike Martel View Post

          MYOB,
          ... I am looking/working on some products $97 - $297.
          Besides looking at monthly revenue per subscriber, consider tracking other metrics such as acquisition cost per subscriber, open rate, click rate, conversion rate, unsubscribe rate, etc. Your monthly amortized cost for adding subscribers can easily exceed average income per subscriber, especially with your apparently very low conversion rate combined with low end products.

          Tracking sales/conversion performance is essential for determining appropriate course of correction to keep profitability at acceptable levels. For example, looking at your stats, IMO you could in all probability cull your subscriber list by as much as 70% of deadweight. Such overhead can become cumbersome and wasteful when your list begins to grow more substantially.
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          “If I have seen further than others, it is by standing upon the shoulders of giants.” – Isaac Newton
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  • Profile picture of the author TakenAction
    as for bigger products I recommend looking at webinars.

    I currently use (no affiliation): http://www.webinarswaps.com/

    you can go and promote webinars (on reply) that a lot of free content packed into them and then at the end they pitch a $97-$997+ products that can have conversions as high as 40% if you can believe (depending on the traffic).

    One thing I'm planning on doing with my list is this:

    1) content email (Facebook related)
    2) content email (Facebook related)
    3) Promo email for Facebook product $47
    4) Upsell to webinar on $197 Facebook product.

    that was just a short dry idea of something I will do but ya webinars are great for promoting higher end products.
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    The best thing you can do is put yourself out there.

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  • Profile picture of the author bobson8788
    Originally Posted by Mike Martel View Post

    I am wondering what people are doing as far as monetizing their lists.

    Ryan Deiss in his Authority ROI course states that you should look at making $1- $3 per list subscriber per month. I am rapidly approaching 10,000 subscribers, but I only hitting about $0.33 per lead and that is gross profit.

    So my question is how do you monetize your list? I have a $17 product and a ton of affiliate offers that are all under $50. Do you need large ticket items to make the money that Ryan is talking about? For this niche, coaching isn't a good fit.

    Also how do you market to your list? Do you have an autoresponder drip with offers mixed in with content or do you send out offers to the whole list on a regular basis? Or maybe a mixture of both?

    I have no problem if people drop off it they aren't going to buy, but how do you avoid the spam complaints.

    Curious to what other warriors are doing out there.

    Mike
    Maybe you can sell solo ads using your list. Can you get at least 50 to 100 clicks on each mailing? If you can you can sell those clicks to other Internet Markers as solo ads. Or you can simply send affiliate offers to your list and yes have follow up emails promoting those offers
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  • Profile picture of the author Mike Martel
    Thanks for all the comments.

    Solo ads are an idea. My niche is in the survival/firearms area. I don't see many offers for solo ads. Might be an opportunity?

    Good idea on culling the list. I did that a couple months ago on subscribers who had not opened an email in two months. Might be time to do it again.

    Mike
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    • Profile picture of the author myob
      Originally Posted by Mike Martel View Post

      Solo ads are an idea. My niche is in the survival/firearms area. I don't see many offers for solo ads. Might be an opportunity?
      Those are among among my top favorite niches, although I prefer to call them "end of the world catastrophes" and "security".

      This bunch of folks are notoriously hard nuts to crack, and I don't think you will have much success with solo ads. Even though there are actually many hundreds of thousands of online/offline publications in those markets, such direct advertising tends to result in extremely low conversion rates. You may have already experienced this inherent hesitancy within your own marketing campaigns. Deep-pocketed advertisers generally have it sewn up in this marketing venue.

      As with all similarly competitive arenas, I have found that subtlety is an extremely powerful marketing tool. My little trick is to initially build relationships with my subscribers long before they ever subscribe. This is accomplished through regular contributions of articles to publications in which targeted prospects read.

      After reading my articles over a period of time, they will gravitate over to a relevant niche website and buy the "recommended" product. In my marketing model, nothing is ever blatantly "sold"; only recommended on the strength of credentials perceived as a result of my article writing. In addition, only initial buyers are invited to subscribe to my lists.

      Subscribers receive messages on a daily basis which includes niche information, tips, resources, jokes, and increasingly hard hitting promotions (with 2-3 descriptive, feature-laden text links) for the next product in line. Non-buyers are culled from lists every 90 days. The remaining active buyers continue to be processed, and promotions are incrementally increased to higher end products.

      This may seem like a "meat grinder" approach, but it is very effective in targeting and quickly engaging quality prospects who are already further down the buying path within their own buying process. This approach massages buyers into making increasingly larger purchases and establishes trust-based working relationships. Eventually, email is dropped in favor of more personal communication channels such as social media, webinars, direct mail, telemarketing, local seminars, and face-to-face sales.
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  • Profile picture of the author Mike Martel
    MYOB,
    Yes they can be a "touchy" group. Thanks for your advice.

    Mike
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