3 is the same because he hasn’t found a growth channel. However, in mobile database those 3 months, Jim’s actual sales could have been $100 + $36 (email). This means that his business could have grown during this time.
How You Can Optimize the Value of Each of Your Email Subscribers
So, we’ve established that you need to know the value of each of your email subscribers. But, once you know the value of each of your email subscribers, your goal is to grow that value.
If Jim currently has email subscribers worth $1.50 per month in net revenue to him, then his goal should be to grow that average value. So, Jim sets a goal to get to $2.00 per month. Jim hires a new email marketing person and gives her two goals:
1) Increase the number of email subscribers;
2) Increase the value of each of our newsletter subscribers.
How to Increase Email Subscribers
My team and I have written about this a lot in the digital vs paper receipts past. But here are some very basic tips for growing your email subscribers:
Make it easy for people to sign up
We are biased because we own Hello Bar. But we believe that every site should have an easy and obvious way for people to sign up for your mailing list. The pop-ups provided by Hello Bar and other companies are the most effective way to do this.
Pop-up email capture units have very high conversion fresh list rates. And we encourage you to consider a dedicated pop-up company rather than using the basic ones offered by email providers. Many of our customers have compared us to them and we have outperformed them by an average of 2-5x?
Give people an incentive to sign up
Provide a reason why people should sign up for your email list. This could be a coupon, special access, previews of new products, or a variety of other reasons. Again, products like Hello Bar make this easy because you can test different incentives to see what works best.