Asset can be classified in many different ways; the most typical is the financial resources that a business has. Others can include a good product or service as well as a well trained staff. Today I want to visit about an asset that should be at or near the top of the pile, and that is your e-mail list.
Technology has opened a new world of possibilities for all businesses. With the power of instant and virtually free communications we are only limited by our own ability to focus on which direction to take.
I believe that every business owner should be working to establish a list with a minimum of 2,000 names, and then to continue growing the list. The people on your list should be your current customers as well as prospects. In 1999 Seth Godin wrote a book called Permission Marketing. I refer to this book because your list should be made up of people who want to be contacted by you. Buying a list of 5,000 or more e-mails may be affordable but the percentage of those people that will purchase your product/service will be very few. Sending spam mail is something that you don’t want your business to be known for.
With a proper plan, a list of 2,000 e-mail list made up of customers and prospects can be created within a year. Be honest, how many clients and prospects are in your data base today? I am sure that every business owner would like to have a growing list of prospects that are looking forward to hearing from their company instead of having to face the daily challenge of finding new business.
If you have been in business for over a year and don’t have such a list, it may be time to change your marketing strategy. I recommend a goal of 2,000 e-mails within the next twelve months. That comes out to approximately 40 a week and only 8 per work week day.
The following is an “e-mail touch system” that should be implemented with your list to provide the maximum benefits. 1) Two short touches per week. 2) A monthly value based newsletter 3) A compelling offer every two weeks.
Building an e-mail list is not as difficult as it may appear. Like any marketing program, or any business plan, for thatt matter, the first step is to identify your target market in detail. The next step is the design and implementation of a plan to obtain your 8, permission granted, e-mails per day.
Nick J. Petra CFP