Q. Mike, I’m hearing a lot of talk about email marketing. For example, I’m told email marketing delivers $30 or more for every dollar spent. Is that true? Or just a bunch of hype from marketers and agencies trying to flog their products or services?

–Brian

A. Hey Brian, you’re right. There’s alotta crazy talk about email marketing on the web right now.

It’s a hot topic.

And for good reason —

Email marketing is outperforming all other digital channels by at least 3 to 1. And in some cases, yes, it’s even returning $30 to every dollar invested.

But to say everyone who spends time and money on email marketing will get back $30 for every dollar they put in… is an exaggeration.

And creates a false expectation.

The truth is your numbers will be unique to you and your situation.

Your results could actually outperform the average.

So don’t limit yourself by what others say.

And don’t get disappointed if your results don’t live up to a standard set by someone else.

Speaking of standards…

Here’s something you CAN do to give yourself the best possible shot at email marketing success:

It’s really simple.

All you have to do is act on this 12 word sentence that improves your email marketing return on investment:

“Send the right message with the right offer to the right audience.”

If you line those three things up — message, offer, audience — you’ll have an unfailing formula for success.

But get even one of those elements wrong… and your email marketing will fall flat.

Remember: Start with your audience. Make sure your email messages are on point. Then make offers they can’t refuse.

Focus on that and the numbers will take care of themselves.

Hope this helps.

–Mike

Check out my quick report titled: The #1 Website & Email Marketing Mistake That Could Cost You Millions!

It’s important that you follow the advice in the report BEFORE you try to implement the perfect selling system.

Downloading the report will add you to my email list where I’ll send you one or two tips each week to grow your coaching or consulting business.

A few weeks ago I saw a TV program about a rather unusual Sydney plumber.

At just 26 years of age his company was billing over $200,000 a week for plumbing jobs.

By my calculations that’s over 10 million a year!

That’s not the unusual part — although I’m sure it’ll capture the attention of any plumbers reading this who are stuck making 100K a year and want to get to the 1 million or 10 million mark.

My advice: don’t do what this guy does.

First, he manipulates consumers by operating under multiple company names, essentially competing against himself for customer leads.

In other words, you go to Google (the great manipulator of consumers all over the world – more on this some other time) and type in “local plumber”. You get a page full of search results. The top 3 results are ads, all run by this Sydney plumber but under different business names. You get a quote from 2 of them, not realising it’s the same business.

Although this is not technically illegal, it can be used to manipulate people.

Next, you accept one of the quotes.

Then, the plumber turns up at your house to do the job.

And here’s where it gets interesting.

Unbeknownst to you, you’re being MASSIVELY overcharged.

For example, one customer had a leaking pipe. She was quoted $15,000 to fix it. Thinking the problem was much bigger than it was she agreed. And a plumber came to do the job.

On inspection the plumber – a new employee at this plumbing company – noted the problem was a simple leak, and only required a quick fix for about $200.

So what did he do?

He rang the 26 year old boss who told him to …

SMASH THE PIPE. TAKE OUT YOUR HAMMER AND SMASH THE PIPE.

“What? Are you kidding me?” said the new employee.

“No” said the business owner. “I quoted this lady $15,000 and she agreed … so SMASH THE PIPE.”

He did.

And then he reported it. And that’s why the story ended up on TV.

Do you see the problem here?

I’m not referring to the obvious problem of a con artist at work.

I’m talking about the fact that many of our important buying decisions today are based on something we know very little about.

For example, do you ever get the feeling your mechanic is charging you for things that don’t need to be fixed?

Or your doctor is prescribing drugs you don’t need to take?

Or your bank is charging you fees for services you either don’t need or didn’t ask for?

This happens a lot — probably to the tune of millions of dollars in unneeded repairs, prescriptions and charges every day.

And that’s just the tip of the iceberg.

Here’s the point:

Although there’s not a lot we can do about dodgy plumbers … mechanics … doctors … or bankers ….

… there is something we can do to make the world a better place.

We can wake up to the fact that people are getting more and more skeptical every day (I know I am).

And we can make our marketing and business practices more transparent.

How?

Start by telling your clients exactly what you’re going to do for them and why.

And don’t just tell them. 

Show them.

Demonstrate.

Reveal.

All in the name of being transparent.

Thus the heading on today’s post: The rise of the transparent entrepreneur.

Do this right and you’ll stand out like a camel on the sidewalk.

For more ideas like these, and for insider tips to improve your marketing, opt-in to my email list. I mail 2-3 times a week most weeks. or whenever a really good idea hits me:

We live in the day of the con artist.

It’s not the information age anymore. It’s the day of manipulators and scammers.

Of hackers and rip-off artists.

That’s why TV shows can thrive on stories about construction-scams, rouge mechanics and white collar crimes.

They’ll NEVER run out of material because the world is full of liars and criminals.

Low-level criminals are everywhere. You walk past them every day on the street.

High level criminals are everywhere too. Usually in government or running a business or controlling the banks.

Why is this?

Because crime pays.

Crime brings power.

And criminals love power.

They’re hungry for it.

We live in a culture that thirsts for it. Even promotes it.

The message of “get ahead at any cost” is trumpeted from Hollywood … plastered all over social media … and ingrained in the social narrative.

There are more ways for scammers to pull the wool over your eyes today than ever before.

This is due — in part — to the rise and reliance on the greatest propaganda machine there ever was: the Internet and social media…

Plus …

Easy accessibility to paid advertising…

The complexity of technology…

And the general lack of time we have to fact check what we see and hear in the media.

But all this mistrust and skepticism creates a windfall opportunity for you because…

In the age of the con artist, the honest entrepreneur can stand out like a giraffe in a pack of wolves.

And thus the rise of the transparent entrepreneur.

The rise of the marketer who — instead of lying and deceiving — addresses skepticism head on.

The marketer who proves every claim.

The marketer who gives a basis for trust and believing before asking the prospect to risk a dime.

When done right …

New clients come running.

Past clients return.

And referrals flow like water from a tap.

What are you doing to increase transparency in your marketing?

You can start by subscribing to my free email newsletter. You’ll get 2-3 tips a week to help you become a more transparent email marketer.

Subscription is free. There’s an unsubscribe link in every email. And I never rent or sell your email address to anyone:

Short answer: Yes

Long answer: No

Here’s what I mean:

If you have an email list of 300 recent buyers, congratulations. You’ve got a hot list. You’ve got an email list of people who all share three important traits:

1) They trust you enough to give you money …

2) They all share a common desire for the specific problem-solving or life-changing solution you offer. And …

3) They’re buyers, not tire kickers. Meaning, they’re willing to dip their hand into their pocket to pay for solutions

That makes them good prospects for other products and services.

Products and service YOU can offer. Either yourself or through a joint venture. And continue to profit from the 300-name email list.

So no, in a case like this, overall list size does NOT matter – assuming you’re hitting your margins.

A list of buyers is what matters.

Of course, that doesn’t mean you should stop building your email list.

You should continue to do whatever got you those 300 buyers in the first place.

Now, let’s look at another scenario:

Let’s say you’ve got an email list of 300 email addresses that have NEVER bought from you.

They opted-in to your email list to get a free video, report, information pack, discount code, content upgrade or something else but…

THEY. NEVER. MADE. A. PURCHASE. OF. ANY. KIND.

(Sorry for shouting – just want to make sure you stay with me here.)

And let’s say each of those 300 people opted in for a different reason. For example …

Some opted-in to follow you, so they’ll know where to find you when they need you.

Others opted-in to get your content upgrade information to repurpose – or blatantly steal! – for their own business.

Others to spy on you.

And so on.

Does that sound like a valuable email list to you?

Does that sound like a list of responsive buyers?

If that describes (even loosely) the makeup of your email list, you’re gonna have a hard time converting them into buyers – no matter how good your copywriter is.

So, in this case, email list size DOES matter but … more importantly …

LIST MAKEUP MATTERS.

(Again, sorry for shouting. At least you’re still with me.)

Listen. It’s not the number of subscribers on your email list that matters…

It’s the number of people who share common traits and interests.

It’s the number of people with a common problem they want to solve … or …

… a common passion, love, hobby, or opportunity they want to pursue.

For example, an email list of 300 people itching to learn your closely-guarded secrets of wood turning …

accounting,

managing staff,

buying antiques,

investing in real estate,

or raising lamas …

IS a valuable email list – assuming you’ve got the products or services that lead them closer and closer to their goals.

But an email list of 300 people with only a thin thread of commonality (or no commonality) connecting them is a bad list. And in that case, you’ve got to make up for lack of commonality with huge numbers.

It’s not efficient. But still might be effective.

And still better than some of the biz owners (or insta-fluencers) with 100,000 plus subscribers/followers and barely a buyer amongst them.

Do you see what I mean?

I hope this is making sense to you. If not, contact me to discuss your email list and how to make it more profitable.

We can also discuss how to identify the good subscribers and get the dead-wood off your list.

Of course, if you’re not ready to take the plunge into a world of increased profit, you can simply opt-in to my email list for 1-3 ideas a week to make your email list more valuable: