📧 Revealing The Hidden Value of Email Lists For Small Businesses

Hey Business Owners,

If social media platforms disappeared tomorrow or the latest algorithm owned by one of the major tech players changed SEO as we know it, would you still be able to communicate directly with your customers?

While there’s advantages and it’s become a necessity to be on social media and have excellent SEO, it’s also important to protect your business from unforeseen tech changes that other companies decide for you.

If you run any part of your business online, an email list full of subscribers and customers who have opted-in to hear directly from you is vital.

Today, we’ll walk you through ways email lists are undervalued assets for small businesses, how to get started when building from scratch, and sales opportunities email lists can give.

Let’s dive in!

In 10 minutes or less, you’ll learn:

✅ why email lists have tremendous value for SMB’s

✅ the most valuable places to link your email list opt-in form

✅ opportunities to use your email list to generate revenue

📨 The Hidden Value of Email Lists

As a business owner, there’s many reasons to love email newsletters.

1. Email Service Providers (ESPs) like Beehiiv or Mailchimp make it easier than ever before to set up and run email communications smoothly. Most plans start entirely free with dozens of features you could take advantage of.

2. Direct Communication: Emails are reliably delivered from you to your customer through your ESP. There’s no need to worry if the latest algorithm or tech changes could limit your reach.

3. Acquiring Customers: Email is almost 40 times more effective than Facebook and X, formerly known as Twitter combined in helping your business acquire new customers.*

4. Segments: You can easily nurture leads through subscriber segments you create making it all the more likely certain customers become interested in relevant offerings your business has.

5. Data: Every interaction or lack their of with emails give you valuable data you can use to make informed decisions.

6. Cost Effective: Emails require minimal investment compared to other marketing channels.

7. Referrals: Emails are easy to forward and refer to other potential customers.

8. Community: As your business communicates with customers, you build an engaged community who act as advocates for your business.

9. Thought Leadership: Consistent value delivered establishes you as an authority in your industry driving trust.

10. Feedback: Emails are an ideal place to ask for feedback to help better serve customers. You can ask about the quality of your emails themselves, ideal products, what’s missing from your offerings, etc.

^{1. *McKinsey}

🔨 Building From Scratch

Having a large number of subscribers isn’t as important as having email subscribers who actively want to hear from you.

Let’s face it. Our inboxes are cluttered with emails begging for our attention. As a business owner, your goal should be to add value in your unique way so your email subscribers engage and expect a high level of quality and value.

If you’re building a list from scratch, it can be intimidating to get started. The important thing is that you do start by finding an email service provider and once you’ve built your email eco-system, keep up with it!

Here’s a few ways you can collect email addresses to grow your list:

1. Email list opt-in forms on your website:

• above + below the fold

• in your navigation menu

• as a pop-up

• in your sidebar

• at the bottom of your about page

• within any blog posts (if you have a blog as part of your website)
  

2. On your socials:

• in your bios

• in your links

• linked out in your stories/highlights

3. In-person (if you own a physical business):

• QR code on printed flyers

• QR code on business cards

3. Create lead magnets/freebies/opt-in incentives that customers can get for free in exchange for their email. Best types of lead magnets will depend on your business*

• Worksheets

• Outlines

• Promo Codes/Discounts

• Printable

• E-Book

• Video training, etc.

4. Influencer Partnerships: Ask influencers, other businesses, or business groups you’re part of to mention your email list to their friends and customers.
   

5.  Customer feedback and surveys: Ask for feedback. Encourage people to answer a survey and join your email list
   

6. Build a high value webinar on a topic that would benefit your specific target customer and is something you’re comfortable teaching. Ask for their email in exchange for a link to the webinar.

🎯 Finding Opportunities For Revenue With An Email List

Once you have an email list that you deliver value to on a regular basis, there’s additional opportunities drive more sales.

1. Promotions + Discounts: Send exclusive offers and discounts to your email subscribers.

2. Cross-Selling: Recommend related products and services that you know your existing customers buy. Also an opportunity to promote collaborations you have going on with other businesses

3. Product/Service Launches: Give first look access to brand new products or services to generate excitement before launch and give email subscribers exclusive discount on launch day.

4. Abandoned Cart Recovery: Cart abandonment emails have a 41% open rate which is nearly double of the normal marketing email open rate. Build an automated email funnel for customers who abandon their cart purchases to remind them they haven’t completed their purchase and to come back.

5. Customer Loyalty Programs: Reward customers for their purchases with a loyalty program to encourage repeat business. Use emails to remind them of their previous purchases, offer discounts, and promotions, and their reward status.

LET’S CHAT! Send me an email at [email protected]

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ABOUT VERSA STRATEGY

Chandler Kirkman is the driving force behind Versa Strategy. She’s on a mission to elevate businesses’ marketing and empower Creative Strategists to think big picture about the business landscape.

In the past decade, Chandler has consulted with over a hundred businesses of various specialities from Fortune 100 companies to local small businesses. By infusing branding, advertising, and marketing efforts with her signature blend of creativity, strategic thinking, and enthusiasm, she cultivates a dynamic and empathetic approach that helps business owners better connect with their customers.