Email list is a store of pure gold

If someone asked me if I could choose just one way to market online, nine times out of 10 I would say email.
On the 10th time, I would hesitate, just about say search engine optimisation, and then say email.
If you are serious about marketing your business online, concentrate on email first.
Don't even think about creating a Facebook landing page or a blog unless you're already collecting email addresses and sending a regular email newsletter.
How is anybody going to know about your Facebook landing page or your blog unless you tell them all about it? What is better, faster, cheaper than by email?
Email marketing is an extremely effective way to market your products and services.
If you're not doing it, you're seriously missing a trick.
Whichever way you look at it, a business email list is gold.
It is a huge asset. Done properly, an email address represents a mutually beneficial relationship between you and a client, prospect or brand advocate.
To understand the value of each email address, you need to ask yourself, what would be the long-term cost to my business if I lost my email list?
You might have 5000 email addresses. And if each of those people bought, on average, only $10 worth of stuff from you each year on the strength of your newsletters alone, and if you stopped sending regular email newsletters and offers to this list, your business would be $50,000 worse off per year. That is just the business you would lose in referrals and direct sales.
In our experience, people typically stay on an email list for at least 10 years (top tip, hardly anyone ever unsubscribes).
So, over a 10-year period, that 5000-strong email list would represent $500,000 of business. So each email address has a lifetime value of at least $100.
If you collect just five email addresses a day, you're adding $500 to the value of your business every day. Wow, what a no-brainer.
So what are you doing to collect email addresses?
First of all, you should have a newsletter sign-up form on your website. And your blog. And your Facebook page.
Before they sign up, tell users what they will get in the newsletter - show them a preview if possible.
Reward them for signing up - you will attract a lot more sign-ups if there is an incentive such as a gift voucher, free consultation or e-book of tips.
If you're offering a download, ask for their email address. This need not be compulsory.
For example, Apple's iTunes download page asks for your email address when you download iTunes. You don't actually need to provide it, but I bet most people would fill it in.
Keep sign-up forms short and simple - nobody likes filling in forms.
Should you add everyone who contacts you on to your email list? No. You should always ask if someone wants to receive your email newsletter.
If you haven't come across the concept of permission marketing, I suggest you read Seth Godin now.
Give the readers an expectation of what they will receive.
Show them a preview of your newsletter and show them the benefits they can expect from it.
Offline, you can ask people at trade shows, networking groups and at point-of-sale.
As a rule of thumb, every time someone gives you a business card, ask if they would like to join your newsletter list - after you have told them what a great source of information it is, of course. Put the subscribers in one pocket and the non-subscribers in another pocket, or your bag. Chances are, everyone will say yes.
Matthew Miller is managing director of Havelock North-based digital marketing company Mogul. He has managed online businesses, designed web applications and formulated digital marketing strategies for many organisations in the private and public sectors for eight years.