CHAPTER 3 Income on Demand: Your List Flashcards
What is the metaphorical ‘Launch’ button in email marketing?
Your email list
An email list acts as a tool to initiate launches and drive sales.
What is the significance of having an email list?
It allows you to make sales on demand and can significantly impact your financial destiny.
What was the author’s first thought when needing $70,000 quickly?
What can I launch?
This reflects the power of having a responsive email list.
What was the result of the author’s first six-figure launch?
$106,000 in a single week, with about $103,000 in profit.
What is the core strategy emphasized in the text?
List building.
How can people subscribe to your email list?
Through an opt-in form on your website.
What is the purpose of providing a promise to subscribers?
It encourages them to join your email list.
What is spam defined as in the context of email marketing?
Unsolicited commercial email.
What is the relationship between list size and responsiveness?
A smaller, more responsive list is better than a larger, unresponsive one.
What is one way to increase the responsiveness of your email list?
Increase the connection and relationship with your subscribers.
True or False: An email subscriber is generally more powerful than a social media follower.
True.
What should you not use as an excuse for not building your email list?
Social media.
Fill in the blank: The saying ‘Push Send, _______’ sums up the power of having a list.
make money.
What is a common mistake that list owners make regarding their email communication?
They forget the individual nature of each subscriber.
What is the author’s perspective on sending emails?
Emails should only be sent to people who have requested them.
What does the author mean by ‘relationship’ in the context of list building?
Building a personal connection with each subscriber.
What is the author’s experience with email marketing since starting out?
List building was the only strategy they had.
How quickly can responses be seen after sending an email to a large list?
Responses can be seen within seconds.
What happens when sending an email to a very large list?
Extra precautions may be needed to prevent website crashes.
What should you focus on if you take nothing else from this book?
An obsessive focus on building your list of clients and prospects.
What is an ‘opt-in page’?
A web page where potential subscribers can enter their email to join your list.
What is one major advantage of email over social media in terms of marketing?
Email drives clicks and sales more effectively.
How has the definition of spam changed over time?
It has evolved along with laws and public perceptions.
What is the importance of the promise given to subscribers?
It is the reason they join your email list.
What typically outperforms social media followers in terms of response rates?
Email subscribers
Studies show that email subscribers generally have higher click and sales rates than social media followers.
What should you use your social media presence for?
To build your email list
Engage with potential customers on social media and invite them to join your email list.
How can social media enhance email marketing?
By coordinating promotions and running ads to email list members
This increases the reach and effectiveness of promotional efforts.
What is a critical distinction between types of email lists?
Prospect lists and customer lists
Prospect lists contain individuals who have not bought anything, while customer lists contain those who have.
Why is a customer list more valuable than a prospect list?
A buyer is worth 10 to 15 times more than a prospect
Customer lists typically yield more revenue and engagement.
What is a ‘squeeze page’?
A simple page that offers visitors a choice to opt-in with their email for something free or leave
Squeeze pages are designed to capture email addresses effectively.
What is a ‘lead magnet’?
Something of value offered to website visitors in exchange for their email address
Examples include videos, reports, or quizzes that appeal to your target audience.
What is the importance of understanding your ‘avatar’ in marketing?
It helps tailor your marketing efforts to your target audience
Knowing your avatar allows you to create effective content and offers.
What is split testing in the context of list building?
Creating two versions of a squeeze page to see which one performs better
This method helps improve conversion rates over time.
What is a good estimated value of a subscriber per year in many niches?
$12 per year
This figure is a rough estimate and can vary by market.
What happens to a visitor’s likelihood of returning if they leave a site without opting in?
Extremely slim chance of returning
Capturing email addresses is crucial for re-engaging visitors.
What can increase the conversion rate of visitors to email subscribers?
Having a squeeze page
Squeeze pages typically result in higher opt-in rates compared to standard subscription forms.
What is the benefit of sending bonuses to your email list?
It builds relationships and encourages future engagement
Simple gestures like sending thank-you notes or extra content can enhance customer loyalty.
What is the first step in effective list building?
Get clear on who your prospect is (your avatar)
Understanding your target audience is essential for creating effective marketing strategies.
What results can you expect by using a strong opt-in offer on your squeeze page?
Higher conversion rates for email subscriptions
The quality of the lead magnet significantly affects subscriber acquisition.
True or False: Email marketing is no longer relevant in the age of social media.
False
Email marketing remains a central and effective method for customer engagement and sales.
Fill in the blank: A person on your buyer list is worth _______ times what a person on your prospect list is worth.
10 to 15
This emphasizes the importance of converting prospects into customers.
What is the key to a successful squeeze page?
Having a strong lead magnet that aligns with the avatar’s needs
The effectiveness of a squeeze page largely depends on how well it meets the desires of the target audience.
What is a lead magnet?
A valuable resource offered to potential customers in exchange for their contact information
Lead magnets help capture leads by aligning with the target audience’s hopes and desires.
What is a squeeze page?
A landing page designed to capture a visitor’s information, typically through an opt-in form
Effectiveness depends on the quality of the lead magnet.
Name three examples of squeeze pages.
- The Launch Masterclass at ProductLaunchFormula.com
- Anne LaFollette: From Doodles to Dollars
- Michael Walker: Fanbase Workshop
What is the first step to building an email list?
Defining your avatar
The avatar represents your ideal customer.
What is the primary purpose of driving traffic to a squeeze page?
To gather leads and grow your email list
Traffic can be driven through various methods.
What are the two main types of traffic sources mentioned?
- Natural search traffic
- Paid traffic
True or False: It is easy to get a squeeze page to rank well on Google.
False
Ranking is challenging due to competition.
What is paid traffic?
Advertising on platforms like Google and Facebook, sold on an auction basis
It allows for quick testing of squeeze pages.
How can social media be used in list building?
By driving traffic to your squeeze page through platforms like Facebook, Twitter, and Instagram
Social media can help gather followers and build an email list.
What is the role of affiliates and Joint Venture partners in traffic generation?
They send traffic to your squeeze page without upfront costs, earning a commission on sales
This can rapidly grow your email list.
What are the two types of lists discussed?
- Prospect list
- Buyer list
What is a Launch List?
A list of people specifically interested in following a product launch
It helps target communications during a launch.
How is a Launch List created?
By inviting people to opt-in for launch content related to a specific product
This allows for focused marketing to interested subscribers.
What is the benefit of segmenting your list for a launch?
It allows you to communicate effectively with interested subscribers without annoying others
This maintains positive relationships with your audience.
What is the key takeaway regarding list building?
Building a list is essential for the success of an online business
Lists of prospects and clients are considered the biggest assets.
What common concern do new marketers express about list building?
“What if I don’t have a list?”
Many beginners feel disadvantaged without an existing list.
How can a small list still be profitable?
Even 10,000 subscribers can generate significant revenue in many markets
Consistent growth in subscribers can lead to higher income.
What is one of the best methods for quickly building a list?
Conducting a product launch
A well-structured launch can significantly increase subscriber count.
How did John Gallagher’s board game launch illustrate list building?
He added over 1,000 new subscribers during his launch after applying the Product Launch Formula
This shows the effectiveness of a structured launch.
