Probably THE most important question you could ever ask yourself as far as making money in your home business is concerned.
The moment I learned the true answer and applied it to my business years ago I realized an immediate doubling of gross monthly revenues personally, and have never looked back since.
To put it bluntly, if you want to have a more profitable business as early as tomorrow, it's wise to shut the door, remove yourself from any and all distractions, and pay close attention.
First, let me share with you why we're discussing this today . . .
It's simple, there's just too much bad, confusing, and miss information on this carnally important component to your online success.
Just a few days ago I was hanging out in an online forum where this EXACT question arose and . . .
Everything that was said, almost, was wrong, based on the wrong metrics, and aimed NOT at growing a more stable and profitable business, but rather at "feelings" which don't put money in your pocket (we'll get to those feelings in due time).
And . . . You're in for a treat!
In our discussion, (which I want your feedback on in the way of your comments) I'm going to be opening up my business, and sharing a few things you'd rarely see unless you yourself have a million dollar plus online business.
So, let's get to it by first discussing common models we encounter as far as email marketing is concerned.
Method #1: Autoresponder ONLY
Some experts never send live broadcasts and rely only on their autoresponders to do all the work of follow up (unless they're launching a new product).
The intervals they use vary from once a day, once every other day, to strange mathematical equations that I'm, to this day, not a believer in.
Upside: You're handsfree. You don't have to expend mental energy thinking of what to write your next newsletter about, it's all autopilot. You'll also have lower unsubscribe and complaint rates on average than a more aggressive approach.
Another more subtle upside is, the longer warm up period can tend to create higher lifetime lead values over the span of years.
Downside: This model requires extremely high lead flow and patience. It can take months with this slow drip method to recoup your original advertising expenses let alone see an ROI (return on investment).
Who This Model Is Ideal For: It's an ideal model for a ten to twenty million dollar company with extremely high lead flow and cash reserves, but not for the every day average entrepreneur.
Method #2: High Sales Broadcasts Ratio
This is a model you'll see a lot in the home business and internet marketing arena and it's easy to spot for it's high sales pitch broadcast ratio to value driven emails.
Upside: Highest probability of immediate monetization. Rotating offers, and blasting them out without abandon will certainly make you more money in the short term.
Typically this model exists in a business in an industry with a higher available lead flow and short lead life span.
The practitioners of this model mail their fresh leads heavy to buy offer after offer because they know through experience if they don't monetize the leads they've generated today with a 30 day time span it's likely they never will, so they blast varying offers at the list to maximize immediate sales.
Downside: This model is limited in core lifetime lead value.
Meaning, you may win now, not long term and you'll burn through your list fast with high unsubscribe and complaint rates which ultimately can get you blocked by major ISPs. Generally the practitioner of this model lives and dies by their lead flow because if it drops from one month to the next so will profits.
Who This Model Is Ideal For: This is generally a method that is seen in one to three million dollar per year biz opp heavy businesses with higher lead flow and lower revenue per lead, again not for the long term revenue driven marketer.
Method #3: Hybrid Autoresponder + Broadcast Messages
Some experts have a baseline autoresponder sequence programmed into their autoresponder and commit to bi weekly or weekly broadcasts.
Upside: This is better, in my opinion, than the prior models for the beginning entrepreneur as far as cashflow is concerned because you'll cut the time period for self liquidation of leads down and you'll positively reinforce yourself psychologically on the broadcast days with 1.5X to 2X sales volume days which will keep you motivated to push forward.
Downside: You'll notice the more successful marketers that follow this practice typically do a monthly or bi monthly product launch to re coup ad spends and produce the level of profit that makes their business enjoyable. So it's a good model if you're willing to put out new product offerings every month or every other month to keep profits high.
Who This Model Is Ideal For: Typically this model is found practiced successfully in businesses that generate between one million and 7 million annually with a moderate to high lead flow.
So we've been through three models so far, but not what I would consider the best for the beginning online home business marketer. So what's best?
Method #4: Live Daily Broadcasts
Bar none the most effective, immediately profitable, and long term revenue driving way to develop relationships with your list of prospects is to send out at least two live daily emails, what I call "episode", per day. One in the morning or afternoon that's entertaining and of high value, and another in the other time slot that is meant to drive traffic or direct your prospects to take a positive monetization action.
Done consistently there is absolutely nothing more powerful both in creating immediate short term revenue gains and developing rock solid relationships that drive high long term lead and customer values.
Now, I know you're not a believer yet, so let me share a few things with you . . .
First off, you're lucky because I just took a 3 week trip where I didn't follow this advice that illustrates just how powerful what I just shared with you really is.
In April (top row above) my business did about $177,000 through our main merchant account, and then in May while I was away and not emailing daily we did about $94,000.
Neither number is anything to scoff at, but the difference between this one singular habit being implemented or not in my business - by the number, was worth $84,000 (as either a pay cut or raise depending on how you think about it).
Also, I know you're probably thinking that your prospect would get sick of it when you're sharing daily via email, but . . .
That's just not the case. It actually works the opposite way. When I don't email daily people wonder where I am. I personally received some 43+ email messages like the one you see below . . .
It's all about the consistency. High value and entertaining content shared consistently leads to long term trusting relationships.
And, a daily expectation and curiosity to see "what's coming tomorrow." You become a welcomed friend and part of your prospect's daily routine that they will miss IF you don't show up.
"But Daegan, what about deliverability and spam complaints?"
Let's talk about deliverability first. Again, counter to common belief (which would be, "if you email more you'll be seen as spam and get blocked") actually the opposite is true.
When you email a specific volume consistently and daily the major ISPs also get used to you and as a result you end up with higher deliverability than if you sent more sporadically.
Check out the image below from one of my older autoresponders and notice the number of bounced (didn't get through) emails from when I emailed daily compared to when I left a large lag between sends.
When I left a lag the number of bounces more than doubled.
Now let's look at spam complaints. You'll see the same principle holds true. When you email daily you actually have less spam complaints than when you don't. See the image below for proof.
Notice how spam complaints jumped when there was a time lag between days. It's simple, send more emails and get less spam complaints.
You're probably wondering why this is . . . right?
When you email daily you're creating a "self cleaning oven" effect on your list.
Those who aren't interested unsubscribe a little bit at a time daily. As a result, you're effectively cleaning your list daily of time wasters and potential spam complaints. It's like brushing your teeth every day or going to the gym - each time counts.
Here's the last thing I know you probably still haven't gotten over: "Daegan, if I email my list daily won't more people unsubscribe?"
The answer is - probably, and that's good! It's honestly something I don't even give a second thought. Get rid of the complainers early. Who cares if people unsubscribe.
The only people that do care are the people who live in a scarcity mindset of "I've only got X leads and if I lose one that's bad" and well, that's just stinking thinking.
If you believe and know to your core that there's an infinity supply of leads out there, and you make your business about getting as many of them as possible and sharing value with them daily via email - a highly successful, fulfilling, and profitably business you shall have.
One last screen shot for you, here's the difference on a daily basis between emailing daily and not.
So the final question is simple . . .
What sort of a day tomorrow would you rather have? You already know my answer...