When I work with advisors to grow their businesses, we always start with assessing their email list. Email is still the bread and butter of marketing. But if you’re not growing your email list, it’s probably shrinking due to a small number of people unsubscribing each month. Here are my tips for growing your email list, as well as two videos to show how to add people to your email list in both Constant Contact and MailChimp!
How to Grow Your Email List
To add fuel to your marketing engine, you should always be growing your email list. Who should you add? I recommend adding the following types of people on a monthly basis:
- Former coworkers
- Centers of influence
- Referral partners
- Anyone who can refer you business!
Why You Should Add Friends and Family to Your Email List
The first reason we want to add friends and family to your email list is because they can potentially refer you business. But also, adding them can help improve the deliverability of your emails over time as well as increase the traffic to your website.
Take a look at this quick case study I did on the question of whether to add friends and family to your email list. I uploaded the business contacts and personal contacts for one of my advisors and did a simple A/B test. The open rate for business contacts only was 21.7%, which isn’t too shabby.
However, the open rate with friends and family included is 48%, which is phenomenal. By combining the two lists, we increase the averages for the overall list.
This is important because it affects how well your emails get delivered. Deliverability depends both on open rate and click-through rate. For this reason, we want to send to folks who know our name so that they will open the email. Then we want to include one clear call to action for them to click on.
Many advisors put their whole article in the body of an email, but that doesn’t drive traffic to their website for conversion, or get click-throughs. If you have a low click-through rate, your emails are more likely to be seen as spam, and less likely to be delivered.
You may be wary of adding friends and family to your email list, but I promise, people who care about you want to know what you’re up to (Hi, Mom!). If you’re offering helpful and interesting content, they’ll appreciate your emails even more.
Help Prospects Find You When They Need You Most
The type of content marketing strategy we run for advisors is not designed to sell, but to help people learn who you serve best. If your network doesn’t understand what you do and how you help, they can’t refer any business to you. I coach advisors to make their niche so clear that even those who don’t buy can still refer.
Family, friends, neighbors, and acquaintances are great referral sources. By sharing your newsletter with them, they’ll better understand what you do and how you can help. In turn, they are able to help people find you when they need you most.
Your referral pipeline is strengthened when conversations with family or neighbors go from “I think Tom is in finance” to “Tom helps divorcing spouses get a fair and equitable settlement” or “My brother-in-law helps Baby Boomers who own a business catch up in a hurry on their retirement savings.”
Want to Upload More People to Your Email List?
Watch these videos for how to upload emails to MailChimp or Constant Contact!
To learn more, read my best practices for email marketing, subscribe to my newsletter, and schedule a virtual meeting if you have any questions. Do you need help with your marketing strategy? Learn more about our marketing package today.
How to Add People to Your MailChimp Email List
How to Add People to Your Constant Contact Email List
Claire Akin runs Indigo Marketing Agency, a full-service marketing firm serving financial advisors. Claire is a former Investment Advisor Representative who holds her MBA in Marketing from the Rady School of Management at UC San Diego as well as a BA in Economics from UC Davis. It’s her goal to help advisors leverage technology to grow their businesses.