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Flipped Lifestyle™ Podcast

FL253 - Email List Conversion Rates + Attrition Planning + Thoughts on Giveaways

Flipped Lifestyle™ Podcast

Shane Sams

Entrepreneurship, Business

4.9575 Ratings

🗓️ 6 November 2018

⏱️ 16 minutes

🧾️ Download transcript

Summary

Hey Y'all, welcome to another Flipped Lifestyle Podcast Q&A w/ S&J!

In the Flip Your Life Community, we hold a members-only Q&A twice a month where we answer online business questions of our members live on air!

This podcast episode features some of the highlights of these recent live member Q&As to give you a glimpse of how we help the members of our community, and help you as well in online business by listening in.


Today's Q&A highlights answer the following questions: 

Question One:

"I am getting ready to launch my membership in the next 2 weeks. My list is about 2000 people and my open rate is typically around 20%. I know this must vary based on how niche you are, but how many people typically covert into customers from an email list?"


Question Two:

"How do you plan for attrition in your membership site when creating your business plan?"


Question Three:

"Hey y'all :) what's your opinion on giveaways to build an email list? I feel like it could be a good way to build quickly as long as what I'm giving away is true to my niche. Thanks!"


Question Four:

"I've been doing weekly blog posts plus youtube videos for a month, there's not much change in my website views and no opt-ins. What am I doing wrong? Do I need to be more patient?"


SUCCESS STORY:

"SUCCESS! I received an email from someone this morning with questions about my class, I answered the email and 30 minutes later she bought the class!" - Dan

"SUCCESS! I put on some of my social media platforms that Becca & I are going to be offering some courses for photographers this Fall. I got 25 emails within 24 hours!" - Matt


CLICK HERE to get your FREE 30-DAY Membership in the Flip Your Life Community NOW!

Transcript

Click on a timestamp to play from that location

0:00.0

Hey, y'all, you're listening to a Q&A with S&J.

0:03.9

Welcome to the Flip Lifestyle podcast, where life always comes before work.

0:09.7

We're your host, Shane and Jocelyn Sam.

0:13.7

We're a real family that figured out how to make our entire living online.

0:18.5

And now, we help other families do the same. Are you ready to flip your

0:22.5

life? All right. Let's get started. All right. The next question is from Alex. Alex says I'm getting

0:29.4

ready to launch my membership in the next two weeks. My list is about 2,000 people and my open rate is

0:34.5

typically around 20%. I know this must vary on the niche, but how many people

0:39.9

typically convert into customers from an email list? I mean, you can always say 5 to 10% is what

0:45.5

you're shooting for. You know, no list is going to produce like 50% conversions or anything like that.

0:51.8

Typical conversion on a list that is warm, meaning that they've been opening, you know, that you haven't not emailed them in a year, in other words, is about 3 to 5%. Yeah, that's just where it's going to be at. You know, you can shoot for the high end and go for it. But that's how a lot of these people make money. Like some of the biggest marketers in the world who have like a million,

1:11.4

like literally a million emails on their list, they may be getting like 5% open rates,

1:16.7

but it's the law of large numbers. Five percent of a million is a whole lot of people opening an email.

1:21.7

And then if you can get 5% of a million of the million of the 5%, then you're going to get a lot of sales, right?

1:26.2

So, you know, don't really worry about, I've never worried about open rates.

1:31.9

And we don't worry too much even totally about those conversions.

1:35.9

Our mission is to get as many people as possible to discover us and get as many people to

1:42.7

click on our stuff and get as many people to give us

1:45.2

the opt-in because the more you get, the more people you get on that list, the more people

1:50.0

are going to buy it, right? And especially with this being your launch, you're going to be

1:54.3

able to have a baseline now to improve. So let's say, for example, that 1% of your list.

1:59.4

How many people do you say it was on the list? I think it's female Alex, but 2,000 people. Okay, so let's say it's 1%. What is that? 20? Okay. If you get 20 people and 1%, you now know the baseline, right? So you can go now and tweak and change and try and split test some things and see what works better.

...

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