When you buy a house, you tend to view it as an investment that will appreciate over time. You take care of your house, maintain it, and even make additions to it. That way, you increase the odds that your house will be worth more in the future. But, your home’s value won’t rise unless you take steps to treat it like an appreciating asset.
In marketing, an email list is commonly called a “house list.” It’s a database of all the people who’ve given you permission to send them updates, newsletters, and promotions. I like the phrase, “house list,” because it encourages us to view our email database as an appreciating asset. However, just like your house, there are certain steps you need to take in order to maximize its value:
1. Use your list or it will decay
Houses that are not used just sit and rot. If you build a house list but rarely send emails, then your list will rot and become useless. You must use your list to make it valuable. Sending weekly newsletters is my recommended usage frequency.
2. Constantly add new subscribers
A home cannot appreciate in value unless it receives a new coat of paint, new carpeting, or new interior fixtures when needed. Your house list constantly needs new subscribers to preserve its value. If you’re not adding at least 100 – 1,000 new people per month, your list is currently dying a slow death.
3. Keep your list clean
In Spring, many homeowners clear out the clutter from their yards, garages, or basements. Likewise, you should clean out your house list at least once a year by purging all of the bounced or unresponsive email addresses. Otherwise, you wind up skewing your reporting statistics and paying monthly fees for people who are long gone.
4. Build a big list and generate extra income
Big homes can be used for ancillary purposes, such as entertaining guests or making extra income by renting out rooms. If you have a big house list, you can also make extra income by selling advertising space or cross-promoting someone else’s product and sharing the revenue together.
Your house and your house list need constant care to increase their value. If you maintain your email list the same way you respect your house, you’ll have two important assets that continually appreciate.
Is your email list deprecating rather than growing in value? Is your organization struggling to add new subscribers or generate revenue from email? It’s okay to ask for help. I’ve taught numerous organizations how to add thousands of new signups and boost product sales using low cost techniques. Call me at 770-887-1462 to discuss a customized solution for your business.
House image courtesy of Sujin Jetkasettakorn via FreeDigitalPhotos.net