How to Build Your First Email List for Small Businesses
Email lists are often viewed as the holy grail of modern small businesses, especially for those who operate primarily online. Building an email list can be challenging and take time, but if done correctly, it can be an incredible way to boost revenue.
When creating an email list for the first time, it’s best to start simple. Focus on capturing data and maintaining data integrity before looking at segmentation and optimization. Here’s how to build your first small business email list.
Get the Right Tools and Goals
To build an effective list, you first need to set goals for your list and get the right infrastructure in place. Why is it important that your business utilizes these emails? Who is your target market that you’re hoping to connect with? These will help drive future decisions that will ultimately encourage your prospects to share their information.
The tools that drive the process are equally important. Automation plays a significant role in generating income through email lists, as well as keeping things flowing smoothly in a small business with limited resources. In addition to having an automated email marketing program, you’ll want project planning applications and bulk email verification tools.
Read more on Top 10 bulk email verification and validation services that were compared by Accuweb Hosting.
Create a Lead Magnet
People aren’t going to give you their email address for nothing. Your business must provide something that is both relevant and valuable to your customer to effectively grow an email list and create an engaged audience. Some common lead magnets include:
It’s important to outline your email list goals and clarify your audience profile before creating a lead magnet. For your lead magnet to work effectively, you must know what problem your audience is trying to solve and provide a simple solution that gives them a taste of what you can offer over time.
Set Up a Landing Page or Opt-In Form
Landing pages are where your customer is brought when they click to sign up for your email list. For example, if you create a lead magnet for an eBook and share it on Pinterest, it will lead to a specific page on your website where they can share their information. Once they submit their email address, the opt-in will be sent to them and you’ll have grown your list.
You can also have various ways to opt-in on your website. While time-triggered pop-up messages used to be the go-to for web marketers, now customers are more likely to skip them without reading. Additionally, it can increase the bounce rate, i.e., users will leave your webpage because they were interrupted by a pop-up window. Modern marketers include inline forms and exit pop-ups to incorporate opt-in forms on their page.
Lay Out Your Email Sales Funnel
Once you’ve got the information you wanted, how will you follow up? It’s not enough to have someone on your list; you must also have a set of emails planned for every stage of the purchase funnel that will lead to your conversion goals. This process should be automated to create a customer-specific flow of information, looking something like this:
A welcome email introducing yourself and your services immediately following the delivery of the opt-in.
A follow-up a few days after to see how the lead magnet is working.
A follow-up a few days later to discuss how these tools help your clients.
Eventually, a follow-up with a call-to-action notifying about a sale.
Some leads in your sales funnel may convert right away, while others could take months of communication to generate a purchasing decision. Fortunately, with a strong email list and well-planned strategy, you’ll have time to wait.
Track the Analytics
Data is exceptionally important when building an email list. It can help you identify how effective your strategy is, and give valuable insights into what aspects of your approach should be changed. Some of the key metrics to look at:
Open rate - This will likely be the metric you look at most often. The open rate tells you which part of your audience has actually opened the email, versus how many left it in their inbox unnoticed. With the right email marketing tools, you can resend the email with a different subject line to those who didn’t open the original one, and boost your overall response.
Click through rate - The second most important metric is the click-through rate, which tells you which members of your audience not only opened the email but followed the call-to-action. This will show you how many people were interested enough to continue reading your offer.
Unsubscribes - It’s normal to have some people unsubscribe from your email list over time. If you see a spike of unsubscribes, however, it could be that you made a poor decision with your marketing approach.
Conversions - To measure conversions, you’ll have to cross-reference your email statistics with your sales statistics. If you see a high number of click-throughs but few sales, you know that your email marketing strategy is strong, but your landing page needs some work.
Time metrics - Time metrics are often overlooked when looking at email marketing analytics, but they can help drive future decision making. Time rates show at what time of the day your audience was most active, so that you can alter your send times accordingly.
Using these metrics to make informed decisions after starting to build your first email list can set you up for success with subsequent lists and campaigns. You can use this information to refine your approach and identify any niche segments that might be interested in specific opportunities.
Don’t hesitate to incorporate A/B testing and revise your strategy based on your results. Once you become comfortable with your first email list, you can experiment with segmentation and targeted campaigns. For now, focus on getting into a consistent flow and building an engaged audience.