Q: I recently launched my Web site and newsletter. To build my list of subscribers, I'm using co-registration services. What has your experience been with these types of services? Is there any value in marketing to the people who sign up? A: Absolutely! Co-registration can be a really great way to sign up tons of quality subscribers to your newsletter. It's a widely accepted and highly successful method of reaching a broader audience than you might be capable of on your own. Even if your site generates minimal traffic, it gives you the opportunity to build your opt-in list quickly and guarantee that you are targeting the right market. And if you are already established, co-registration allows you to branch out and find more pockets of potential subscribers (and customers)?an opportunity you should always be on the lookout for. How Co-Registration Works Basically, co-registration involves having your subscription offer listed alongside other publications' offers, so that when someone signs up to the other newsletters, he or she is given the option of signing up for yours as well?without needing to re-enter his or her personal information. There are many co-registration services on the Web that are designed to help you pair your newsletter or e-zine up with other relevant publications. I'd recommend beginning with the following sites: Of course, you can also approach newsletter publishers directly to see if they would be interested in a co-registration arrangement. No matter which method you choose, it is important to make sure you're getting quality e-mail addresses. You'll want to make sure that your subscription offer is placed alongside the newsletters that target your market. If your newsletter shares free investment advice, for example, then it probably won't be very successful if it's grouped with a bunch of newsletters about video games! On the other hand, if you seek out quality publications that are related to yours and attract the same audience, you can expect as many as 80 percent of subscribers to the other newsletter to sign up for your newsletter as well! What It Costs You'll have to pay a fee to the other publications?generally between 25 cents and , per subscriber?but rest assured that it's usually more than worth it when you calculate the lifetime value of these potential customers. Once you've developed a relationship with your subscribers and established your credibility, you are in a much better position to persuade them to make a buying decision. And once you have sold to someone the first time, it's extremely easy to persuade that customer of the value of a second purchase... and a third... and a fourth... and so on. As a general rule of thumb, you shouldn't pay more for a first-time customer than what you'll net in profits, but you may want to take it quite close to the break-even point, especially if you're just beginning to grow your list and get your business off the ground. It just might be worth it to you in the end. Once you've sent a few promotions to your newsletter subscribers, you'll get a feel for your sales ratio and you'll be able to calculate the "value" of each new subscriber. For example, if you typically close six sales for every 100 e-mails you send, and you earn a profit for each sale, each of your subscribers is worth, on average, .70: - 6 sales times profit divided by 100 subscribers = .70 per subscriber
If you typically profit .70 from each of your subscribers, isn't it worth paying 25 cents to ,.00 for each new one? Of course it is! Particularly when you start calculating the lifetime value of each new customer. Remember, it's important to make sure you're paying for quality e-mail addresses (i.e., the addresses of people whom you've proven are inclined to purchase from you). Plus, you should check that your co-registration provider is sending you the right lists?you can do this by subscribing to your own newsletter or e-zine through their co-registration page. If your provider then sends you your own e-mail address, then you can be pretty sure that you are getting the right e-mails. Also, make sure to get the e-mail addresses of new subscribers as quickly as possible. You want to be able to start marketing to them right away, because the longer you wait, the more likely these addresses will become outdated. When you ensure your co-registration efforts are targeted and appropriate, you can quickly build an effective opt-in list!
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