Used in conjunction with smart marketing strategies, email lists can help businesses create a consistently growing revenue stream. The lists are vital to the long-term success of online businesses, as they provide a fast, easy, and cost-efficient means of communicating with customers.

How do you generate an email list?
Businesses can capture email addresses in a number of ways. One of the most common methods is simply asking customers and prospects for their email addresses directly on your website. By offering a free email subscription to newsletters, updates, special promotions and other exclusive offers, you can effectively capture your prospects’ email addresses and begin sending them ongoing communications.

Many online businesses promote their email subscriptions directly on the homepage, but another effective spot is within your checkout process. As customers make a purchase, remind them about your free newsletter or other email offers, and enable them to sign up simply by checking a box within the checkout page.

For businesses that run offline operations, email addresses can also be captured right in-store. Again, simply let your customers know about your free newsletter, and provide a drop-box with sign-up sheets for your customers to fill out. You may also want to consider offering a bonus prize or sweepstakes as further enticement for signing up.

They’ve “opted in.” Now what?
Asking permission to send emails to prospects is the fundamental first step of opt-in marketing. These customers have already expressed an interest in your business and they want you to contact them. This increases the likelihood that they will buy from you again and become some of your most loyal, frequent customers.

However, without proper email list management, the addresses you’ve collected will quickly go to waste.

The first, most important step in effective email list management (beyond simply making the list itself) is to immediately make use of the list. In most cases, this is accomplished simply by sending your prospects the communications they signed up for. You do not want to let your lists go cold or anger customers by not following up on your initial promises. Begin emailing your prospects immediately to ensure that they remember your business and have the opportunity to purchase from you again in the future.

Depending on the nature of your business and the privacy policies you set forth when prospects submitted their email addresses, you can generate additional revenue by renting or selling these lists.

By partnering with other businesses who want to market to your list, or by using a list broker, you can rent your lists and still make money even when the other businesses make their own sales. After sending their own opt-in emails to your list, many companies will pay you a percentage of the sales they make from your prospects.

Conversely, you can also purchase email lists from others in this same manner. This will help you reach new customers and generate sales without generating your own list, and you’ll only need to pay a small commission to the seller for each sale you generate.

Keep detailed stats and records.
The other key to effective list management is constantly monitoring your list and keeping detailed statistics on the success of your email clicks. Keep track of which customers are clicking the most, what they’re clicking on, and use that information to follow-up with additional email campaigns and offers catered specifically to those prospects. Conversely, you should also separate the email addresses that aren’t producing any results and identify ways to reach those prospects or rent them to another business. If you don’t have the software to track your emails, you may want to consider having a third-party company to handle your list management for you.

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