What Eric Learned From An E-mail Marketing Mastermind

0:00All right. So we're going to talk about what I learned from going to email marketing mastermind. And this actually just happened yesterday. We just talked about it last episode. There's a guy named Matt McGarry. He helped grow a handful of newsletters and he's kind of growing as an influencer in the email space right now. So we are going to talk about that. Where was your mastermind? Was it in person? It was virtual. It was virtual. Where was it? It was virtual. How many people went? So 15 people or 15 or 16 people attended. Some people have newsletters. Like one guy has like an AI newsletter with hundreds of thousands of subscribers.

0:31One other person has 2 million subscribers on his newsletter, and they spend about 400 or 500 grand a month just acquiring new subs. And so it's a significant group. And I'll share some learnings here without kind of naming any names. We don't mind you naming the names. Well, they might mind me naming the names. All right. So what are some of the main learnings that you got from it? Yeah. Yeah. One is, I mean, a lot of people are, when they're spending on Facebook, most people are buying their emails from Facebook and Twitter and good CPAs that they're seeing would be anywhere from two to$3 or so.

1:06And this is for English, right? In United States. Yeah. People have, Oh, here's another interesting wrinkle. One person, what he'll do on Twitter is he'll buy engagement ads where you get like a lot of likes and a lot of views and stuff from third world countries where it's super cheap and that will drive the engagement up. But then once you see like 10 million views on an ad, it's like, oh, that gets you to want to click it more. So it kind of helps with the social proof piece before he switches it to US only. That's a nice little hack. And a lot of people are trying to figure out how to diversify.

1:39And there were two SEO people on the call. It was myself and one other person. And we're just seeing how SEO is kind of the SEO is not dead. It's just most people don't know how to do it. But if you're writing in an industry where it's not that big yet, you can drive a ton of organic traffic, you collect more emails. And that's something that you've done quite a bit and it's not enough to people talk about it. So that's another thing. Yeah. What we found is with emails, and I don't know if you guys talked about this in Mastermind, it's actually not hard to build a list. It's hard to get people to engage with your list.

2:09So how can you get them to continually open and click and take action? And some of that comes down to building a relationship, just like you would do with a normal human when you're networking in person. You don't just go in and be like, hey, buy this thing for$100 ,000 or$1 ,000. You get to know someone first before you make the pitch. And you try to add as much value to. The other thing that a lot of people don't do from what we've seen is they don't scrub their list. And it's just like, if I'm sending email to 1000 people, but if 100 of those people that I keep emailing, never open up my emails and ignore it, and some of them market as spam, then the other 900 people won't always see my email.

2:52Over time, Google and Outlook or Gmail and Outlook would be like, huh, well, a lot of people don't open it and they don't care for it. And some of them are marketing as spam. Oh, moving some of these emails in the other inbox or promotional tab or spam box. And over time, the 900 who used to see it ends up becoming 800 and ends up becoming 700 and then 600. And then it just decreases lower and lower. And I know you may think that's a high ratio of 900 out of 1 ,000. But when the list size is that small, you can get amazing engagement. And then the problem that you end up with is you got a million person email list or a hundred thousand and you're only getting 10 % open.

3:28You should be optimizing for 30 plus percent opens. That's very realistic. And you should be giving more than you're asking. And if you do that, you should have good engagement, good clicks as well. Yeah. And I think most people are getting 35, 40 % open rates and then some in 45 to 50, but they're qualifying their list a lot more and scrubbing their list a lot more. They did say co-registrations are generally trash. And what a co-registration generally is, is like, let's say Neil registers for my email list, right? But then there's like 10 other emails that are recommended. That's like an example of how it go.

3:59Dude, Aurora used to do a lot of the co-reg stuff back in the day with her email. They're masters of the co-reg. Yeah, I don't know how well they're doing right now, but I know at one point they're doing well over a billion dollars in revenue. But that doesn't mean co-regs were working, right? They were doing a lot of stuff, including co-regs like ads on Facebook and even television. And they've tried a lot of different stuff to grow. That was actually one of my recommendations. It's like, if you want to go recruit a great copywriter long-term to help with your email list, go hire someone that went through the Agora training, like Agora University, basically.

4:30And you might be able to pick someone off that's really good. Yeah. Agora is like Agora Financial, Palm Beach. I think it's a Palm Beach Ventures. I don't know what the last part is. Money Map Press. These are all companies that just have massive, massive audiences and they've done it through email. Yep. But two final things from my side is I've noticed that most people in the group, and there's nothing wrong with this, but most people are looking to sell ads. And I think the ultimate way of monetization long-term is just selling your own products and services, but that's easier said than done.

4:59If you're earlier in your newsletter career, that's totally fine to sell ads, no problem. And then a lot of people are using Sparkloop. So Sparkloop is the beehive feature where people can just, we can recommend each other's newsletters. And that seems to work pretty well because you're paying like$1 to$2,$3 CPAs. but it only counts as an email registration if they're an active subscriber. I don't know how to quantify that, but that's an interesting thing. So that is it. All right. Hopefully I didn't reveal too much here. I don't think I've compromised anybody, but that is it for today. Please don't forget to rate, review, subscribe.

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