You’ve no doubt encountered countless vending machines over your life, so you know how it works.
Basically, the person who owns this vending machine puts something into the machine like candy, chips, soda, toys or other goodies. Then the vendor stops by the machine about once a week to collect cash.
Simple premise: Put something in, get something back. It’s really just a simple “give and take” business model.
Why does this “give and take” concept work so well?
Because it’s a win-win situation for both the vender and the buyer. That’s because each person walks away with a reward.
Each person walks away satisfied.
Here’s the thing: You can bring this vending machine concept online.
One of the easiest ways to do this is by creating a digital newsletter. You’ll spend a few minutes every week putting something into your newsletter. And if you do it right, every week you’ll get to take something out: Namely, cash.
Lots of people who think about starting a newsletter have this exact fantasy. They imagine building a huge, responsive list that predictably collects cash like a vending machine. But for most people, this fantasy never turns into reality. These marketers build lists, but they never see a return.
If this sounds familiar, then let me assure you that it’s not your fault. You’ve just never been taught a solid strategy for building a responsive list that collects cash like vending machine. Perhaps you’ve just never learned email-marketing tips like this:
- Targeting is the first key. Offline vendors know that the location of their machine is the key to big profits. For example, putting a toy vending machine in a nursing home wouldn’t be a profitable venture. But put this same machine in a Chucky Cheese restaurant and the vendor can start looking forward to an early retirement!
It’s no different for you. If you want to make a lot of money, you need to build a list of highly targeted prospects.
- Trust is the second key. Have you ever put money in a vending machine and you didn’t get anything back? If so, you were probably reluctant to give that particular machine another try, simply because you no longer trusted it to deliver.
Once again, the same is true of your list. You need to give your prospects what you promised you’d give them. You need to build a relationship and earn their trust. Because once you do that, your subscribers will start buying what you’re selling.
- Value is the third key. Have you ever seen those vending machines (such as those at airports) that charge as much as twice what you see in other places? It kind of ticks you off, doesn’t it?
Once again, the same is true of your list. Whether you’re offering free content or a paid resource, your goal is give a valuable solution at a fair price so that both you and the subscriber walk away happy. Better yet, seek to over-deliver, which virtually guarantees that you’ll cement subscriber and customer loyalty!
Imagine this: Creating a newsletter that collects cash as easy as a popular vending machine!
As you just learned, the underlying concepts are the same. You need to give a little something in order to get something back. But you also need to build a targeted list, earn trust and offer a good value.
Do it now, because your bank account deserves it!