Joe Troyer: Roger asked, “What has worked best to create your email list?” And this is a good one. This isn’t about typical Google ads or YouTube ads, or cold email, or picking up agency clients. It’s a broader question, and I like it, and frankly it was exciting for me to see because a little bit of a different path, which is great. We have built an email list now of about 40,000 people, and that’s our SEO and advertising list so to speak, right? A lot of SEO’s though for sure.
Joe Troyer: I think that the thing that has worked best to create our email list isn’t a specific method. What has worked best I think is the mindset that you got to have when you’re building an email list. So whether you run a software company, whether you run an info-marketing company, (I’ve obviously ran both of those), whether you run an agency, (I’ve ran one of those as well), I think that your perspective and you mindset is the most important about building an email list. And yes, if you build a local agency I do think it’s very important, or any type of agency, to build an email list.
Joe Troyer: So I think that the most important thing when building an email list is having the right mindset, and really understanding what a lead is worth to you. So let’s do some very simple math. So I’m going to make things not very complex, and just have some very, very simple math. Let’s say that you sell SEO services to local businesses, and your average customer is worth $1000 a month. That’s the core offer that you provide, I’ll do SEO for you for a thousand bucks a month. All right. Very, very simple. Guys, that’s the low end. I wouldn’t charge anything less than $1000 a month for a core offer if I was running an agency.
Joe Troyer: So a 12 month contract term let’s say, the deals worth $12,000 to you. There’s easy ways to turn that into $24,000 or $36,000 with auto-renewing contracts and everything else, but let’s just do simple math. Let’s dumb it down. Let’s say that a lead will stick with you on average for 12 months, so $12,000 a year is what a customer is worth to you, not a lead. Let’s say that you convert one in four prospects into a sale. What is that? Every prospect is worth roughly $3000. Every lead is worth $3000. That’s crazy.
Joe Troyer: So I think at the end of the day you got to have the mindset to really understand what that lead is worth, and you got to be able to be willing to spend that amount of money. Everybody talks about that, right? What can you afford, what’s the lifetime value, but you really need to sit through it, and think about it, and really do the math. What you’re going to find is you can afford to pay a whole lot more money than you’ve probably been willing to in the past, or that you’ve really thought about. And so at the end of the day, whoever can spend the most money to acquire a lead is going to win in business, because you can just gobble up all the market share.
Joe Troyer: To be more direct, though, to really answer your question, the thing that has worked best to create our email list at the end of the day, is joint ventures and webinars, partnering with people that already have a list. When I got into, for example, the software business, I partnered with a company to promote our product. My first $80,000 in sales in my first, let’s call it 200 paying customers, came from joint ventures. Immediately put cash in my pocket, paid for the software, and literally had a business from that first joint venture moving forward and was profitable. So joint ventures and webinars, when you can speak one to many, are freakin’ fantastic. So look for associations that you could help.
Joe Troyer: For those of you guys that own agencies, and again are looking for how you can leverage one to many, do webinars, right? And go find people that already serve your customers. Go partner with a web design company that only speaks to and only works with attorneys, if that’s your niche. There’s people that already have your customers out there that want to make a deal with you, that need your solution. They just don’t know that you exist yet. Go find them, and make them an offer that they can’t refuse. Make them want to work with you, and want to promote you.
Joe Troyer: In a lot of markets, a 30% rev-share for like software for example, is good, people like. I would recommend though, giving more. Make it a no brainer. Make them want to promote you. Make them want to promote you once a quarter. Make them want to promote you every other month, right? Make it a no brainer so that you gobble up market share as fast as possible.
Joe Troyer: And then on the backend, once you have that customer, and once you have that prospect, create and build more goodwill and value than anybody in the marketplace. If you do that, and you keep making them offers, and staying in front of them month in and month out, those leads are going to be worth more to you than anybody else in the industry, and you will absolutely crush the market.
Joe Troyer: You want to know how I “got big so fast”? This screen right here. That’s it. You do that in the marketplace, you will absolutely freakin’ dominate, and you will grow very, very quickly.