There’s a huge difference between a “one sale” business and a “relationship business.” Though there are exceptions, by and large the most successful businesses online are relationship businesses.
These are businesses that have established trust and credibility with their users. In fact, many of these businesses have so much credibility that they’ve cultivated “super customers” – people who would buy any product put out by that company.
How is this done? It’s done through having a stellar newsletter. Having a great newsletter can increase your conversion by as much as eight times, propelling your business to the next level.
The Difference in Conversion Explained
Most people generally get between 0.5% to 2% conversion on “cold” traffic (i.e. PPC, article marketing, etc.) if they have a very good sales letter.
In other words, if you took that traffic and sent it directly to a sales page, between 1 in 200 and 2 in 100 will buy.
On the other hand, what would happen if you got their email address instead?
Marketers have found that an email subscriber to a high-quality list can covert as high as 8% over the course of the subscriber’s lifetime.
In other words, instead of going for the first sale, when they go for the long-term relationship and have the chance to sell over time, they often get astronomically higher conversion rates.
What Constitutes a Good Newsletter?
It’s simple – a great newsletter is one that answers your user’s question. It’s a newsletter that provides value and gives more than it takes.
If your users are there for financial information, give them financial information. If they’re there for the latest funny video, give them the latest funny video. Whatever they’re there for, give it to them in spades.
Avoid over selling. In fact, the best way to build credibility and reciprocity is if you limit your selling to about 10% of your email real estate.
Using Newsletters for Quick Conversion Boosts
One final way newsletters can help you boost your conversions is by using one time offers (OTOs) or teleseminar sales.
Marketers often find that by presenting OTOs they can boost drastically their conversions for a short period of time. For example, a marketer might put a limited time on a product, or just limit the number of products they’ll sell.
The scarcity drives people who wouldn’t have otherwise bought to purchase the product.
Another powerful tactic is to announce a teleseminar on your newsletter. On the teleseminar, demonstrate your expertise and hype up the problem. Then present a one-time offer on the phone, valid for just twelve hours after the phone call.
Because excitement and expertise is often conveyed much more strongly on the phone, this tactic can also give you a nice boost in sales.
These are just some of the reasons why building a newsletter is so crucial. Even without using OTOs and teleseminars, you can boost your sales by as much as eight times just by having a newsletter. If you’re not doing it already, now is the time to start.
The 90/10 Rule of Email Marketing
How do you get your list to not only increase in size, but in responsiveness? Responsiveness is very often more important than list size. After all, what good are a bunch of subscribers if you can’t get any of them to buy?
The 90/10 rule is the “secret” to list responsiveness. It’s one of the most proven methods for building trust and credibility with readers. Using this technique, your readers will actually read your sales messages when you send emails to them instead of click “Delete” in the blink of an eye.
What Is the 90/10 Rule?
The 90/10 rule basically says that your emails should contain 90% high quality content and 10% sales pitch.
The sales pitch can come at the bottom of your email in a little blurb, taking up 10% of the space, or you could send nine emails before sending one email that’s a pure sales letter.
It doesn’t matter how you structure it. The rule is to send 90% content and 10% sales.
Why Is the 90/10 Rule Important?
You’ve probably subscribed to email lists in the past that just had too much sales content. What was your reaction?
If you’re like most people, you either unsubscribed, deleted the email or just stopped reading emails from that person indefinitely in the future.
That’s what happens when you send commercial emails too often.
Think of your relationship with your readers as a deposit-withdrawal relationship. Every time you send something they find useful, valuable, original or entertaining, you make a deposit in the relationship. Every time you send a sales pitch, you make a withdrawal.
If you want to have the ability to make withdrawals, you naturally need to make more deposits. Not only does sending quality content “buy” you the right to send sales messages, but it also increases your conversion rate as people start to really trust you after reading your quality content.
How the “Pros” Use the 90/10 Rule
Many of the top marketers in the world use this rule in a peculiar way. Instead of sending a long email with a pitch at the bottom, they’ll often go long, long periods of time without sending a single sales announcement.
They may even go months selling very little. This really builds up the trust and readership among their followers.
Then, they come out with a high-ticket product launch or event and suddenly send six to eight emails in a row hyping up the product.
If this person had less trust with their list, this would result in a lot of unsubscribes. But because he has such an avid following, not only are the sales emails read, but people pull out their credit cards.
That’s the power of this rule. The basic message is this: Focus on building long-term trust rather than short-term sales. Make more deposits into the relationship than withdrawals. In the long run, this is a much more profitable strategy.