What It's About
Today's caller is interested about the money making potential of each subscriber.
Notes from Chris
Episode 1817
As you go from idea to actual business where you’re building an email list and maintaining long-term relationships with subscribers, you want to know how much money those subscribers are producing. Ideally, you want a high customer lifetime value, because you can then spend money to attract more subscribers. It’s kind of like achieving a positive ROI on ad spending from Facebook or Google: once you get the formula right, where you’re earning more than you spend—even if it’s a relatively small amount—you can ramp up and spend more and more. Achieving this winning formula is easier said than done, of course. With customer value, though, it’s not about spending, it’s about earning—how much is each subscriber worth? That’s what our listener is wondering about today."Hi there Chris, this is Mackenzie and I’ve been listening to the show for a while now. I've heard that when you build up a newsletter list and offer products for sale, an important metric to track is lifetime value per subscriber. What are some ballpark numbers for this? If I'm able to get 1,000 subscribers to my list, for example, and I sell them products on an ongoing basis—but not too often, because I don't want them to get tired of promotions and unsubscribe—what kind of return can I expect? "Listen to today's episode to learn more...
SEE ALSO:
- Q&A: What can I do with an email list?: Today’s listener has a coaching service for writers, and has been diligently building an email list—but now she wonders what she should be using it for. What’s the next step?
- Real Estate Agent Profits from Bulk Mail Biz: Processing direct mail—as in, old-school snail mail—has freed this real estate agent from financial stress.
- Bartender Earns Extra Income With “Revenge By Mail” Postcards: Want to embarrass your frenemy? Send them an awkward, anonymous postcard congratulating them on a purchase they didn’t make. This bartender and yoga teacher earns an extra $100/day from her inventive idea!
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Resources
CREATE YOUR ONLINE STORE
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Many Side Hustle School listeners are building sites using Shopify's easy-to-learn platform. Try it free today!
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GET YOUR FIRST 1,000 EMAIL SUBSCRIBERS
Social media is nice, but building an email list is still the single best way to get customers and clients for your hustle. It's not hard to get started—sign up for a 30-day trial and join the list-building challenge! You’ll be up and running in no time.
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