A couple years ago, I decided I wanted to participate in joint ventures and drive more traffic to my products and services. I joined the Joint Venture Inner Circle. I chose this organization because I remembered what a great coach one of the founders had been during my real estate days.
During my first one-on-one session, I found out that I wasn’t “JV-ready” at all. These people weren’t in the league I played in before where I gave a friend a percentage of what they could sell to their audience. This organization was preparing me for six- and seven-figure launches. That was okay. It was bigger than what I signed up for and I was game.
As I built my platform and relationships over the next couple of months, I quickly realized that I needed a huge email list to get any attention or love from any of the people who could actually help me sell more programs. I had been laser-focused on building traffic to my website instead of being laser-focused on building my email list. I had a little over a hundred people on my list when I began. Most of them were related to a different industry. I had been working with a web designer who seriously didn’t know his head from his ass when it came to designing websites that convert. It was then, that I realized I had been doing everything wrong.
These are some of my big mistakes that needed fixing… like yesterday, if I wanted to play in the big leagues:
- Driving the wrong social media traffic to my business and author pages.
- Running social media ads without a sales funnel.
- Not having my drip campaigns built out in a way that engendered nurturing, trust, and sales.
- Not having a sales funnel… period!
Whew! That list was long and not so easy to remedy. Thank God I invested in one-on-one coaching at this point. Before I invested in a coach to help me build and understand sales funnels, I was just lost. This was not an education that you could get from a book. I attended webinars thinking I could get the info that way. The truth… Nobody gets this without a coach. Nobody… There is just so much to it. I have seen many people build the basic pieces from books and how -to videos. Most people fail with this part of it because they know nothing about conversion. Yes… the Internet requires conversion. This is why amateurs fail!
You need to engage in list-building activities for several reasons:
- It is more personal. With email, your conversion attracts people who are interested in exactly what you have to offer and allows for more personal email content and contact.
- You have more control over your audience. Not that you can control them… If social media disappeared today, you would lose all of your content. If your RSS feed failed, you would lose all of your content. Having an email list puts you in the driver seat if something catastrophic happens. I did a strategy session with a woman who lost her audience on Facebook because the algorithm on her business page changed. She lost the ability to personally have access to over 1200 followers. Her business floundered for about a year while she set up a lead magnet and a funnel to invite the people on her page to enter her email list. By the time she got all of this together, less than 10% of those people signed up. They left the page for greener pastures.
- Two-way communication is enabled. I use my real email address in my autoresponder. All my subscribers need to do is hit the “reply” button and we are communicating. In my emails, I invite them to do this often… and they do it all of the time. If they sign up for a webinar and miss it, they hit the reply button and ask if I will send them a replay. If they are loyal subscribers… I do just that and give them a free gift for communicating!
- It enables you to track effectiveness. When you bring people into your email list, you can track statistics. You know who is opening and who isn’t. You can reward your consistent openers and bring them into bigger commitment levels.
- It gives you the opportunity to sell products and services. It’s not one size fits all for a particular product. The analytics tell a story about who is engaged. Engagement and relationship-building give you clues about who is ready for an upsell or down-sell. People who aren’t using their list with campaigns built in their funnel for this are leaving tens of thousands of dollars on the table.
- Easy Content Sharing. Great content delivered to their email box weekly. That’s my motto. They don’t have to go looking for blogs or tips. It arrives in their email box every Monday and Thursday morning. Boom!
- JV Partnership Possibilities. The first thing out of every JV partner’s mouth is , “How big is your list?” Good partners want stats and conversion rates. Without this, the big kids with influence won’t play with you.
- Publisher Deals. Ever wonder why some people with mediocre books get publishing deals and your great book does not? Because publishers are looking for a platform these days. They want to make a profit and you need to bring your own crowd who will buy the book. When I interview authors who got deals, they usually have to prove they have an engaged list of 10,000 people or more. The size matters, as well as the engagement stats.
- Self-Publishing Pre-Launch Bestseller Campaigns. This is how many authors go to the bestseller list and launch at #1. They have a pre-sale campaign that includes the list they have built. There really is no other way to do this.
How big is your list?
Take my quiz HERE to find out why you aren’t fully making the money you want to make from social media.