Do you know what a customer is actually worth to your business? Or do you know on average how much a subscriber on your email list is worth to you?
For example, if you had a thousand subscribers and you make a thousand dollars a month, then on average each subscriber will be worth a dollar, right?
So, Do You Know That Number?
That’s when you can really take hold of the stats, numbers and metrics of your business. What that actually tells you is, how much am I earning on average for every person I add to my list. And then how much on average am I earning for every customer.
Because when you know what a subscriber is worth, then you know ultimately what you can spend to get them.
Now as a whole, for most people, that never been a simple metric to work out. But in its most simplistic form, just look at how many people on your list and how much you made that month. So last month, if you had 10,000 subscribers and made $5,000, a subscriber would be worth 50 cents, right?
Then just keep a gauge on that every month in your business. Perhaps just have a spreadsheet and you keep it written down just on a monthly basis how much did I generate last month, how many subscribers were on my list… And just keep a record of that. And you’ll start to hopefully see…
Now, one of the things that happened with me, if I go back to when I first started building my list…
Early On, I Was Able To Generate $1-2 Per Subscriber
…on my list. And so, as my email list grew, with my first 500 subscribers I was making anywhere from 500 to a thousand dollars by sending email promotions as an affiliate marketer (I didn’t have my own products at that stage)
One of the things that I found – this may not be true for everybody – but as my list grew, the average value of my subscriber actually...
Continue reading here: What Is Each Customer Or Email Subscriber Worth To Your Business?
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