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My friend John Lee Dumas runs the top-ranked business podcast Entrepreneur on Fire. He asks this famous question to all his guests:
“Imagine you woke up tomorrow morning in a brand new world, identical to earth, but you knew no one.
You still have all the experience and knowledge you currently have. Your food and shelter are taken care of, but all you have is a laptop and $500.
What would you do in the next 7 days?”
To me, the answer couldn’t be any clearer:
Maybe you’ve heard this before: “The money is in the list.”
After 12 years of running an online business and generating millions in sales, I can tell you this is 100% true.
Here are 3 reasons why all your digital marketing efforts (at least at first) should be focused on email marketing and building an email list:
Too many marketers preach how to suck every penny out of your email list. Upsells, downsells, cross sells, “trip-wires” … the list goes on and on. Here at GrowthLab, we have a different approach to email marketing.
We want our subscribers to be excited to open our emails. Every single email we send out has to be valuable — whether the reader is ready to buy or not.
I have students that were on my email list for 5 YEARS before they bought anything. And we were here when they were ready.
How do we do it? How do we keep someone engaged for half a decade?
I’ve made a commitment to give away 98% of my material for free… and to make that free material better than anyone else’s paid stuff.
For example, I often offer free email courses to my list. The most popular was our 20X Your Potential Challenge, a course I co-designed with a former Navy SEAL on how to build mental toughness and overcome self-doubt.
Thousands of students have participated, sharing their experience with #ICanDo20X on Twitter.
The following 3 reasons show why mini-courses are a great form of email marketing, that benefits the reader first:
Anybody can buy a domain name, publish a few blog posts, and post on Twitter or Facebook. But if you want to build a real online business, with real revenue — one that pays you to share your passions with the world — you have to know how to build an audience. Not just passive social followers who “liked” you when they were bored one day, but engaged email subscribers who can’t wait to hear from you.
That means keeping those subscribers engaged, and converting them into paying customers.
This is by far the most challenging part of starting an online business.
Your click-through rate is how many people click a link in your marketing emails. Whether you send them to a sales page, a post to comment, a survey, or a bonus to download, click-through rate measures how people are interacting with your email. A high CTR means that people are interested in what you’re giving them. A low CTR means your readers may be skimming or ignoring your content.
I created a guide on how to turn traffic into customers. In this guide, you’ll learn:
You can get instant access to the guide here. Just tell me where to send it.