“Subscribe to my newsletter” is my #1 pet peeve when building an email list.
A/ It’s boring
B/ There’s no clear value proposition other than the promise of a “future newsletter -> Nets less subs than we could have
It’s not even a hook in my book.
Here’s the solution👇
I currently have ~3.5k subscribers.
Email open rates are 32-37%.
(less than some newsletter creators, sure, which I explain below…)
And I build my email list using lead magnets instead of “subscribe to my newsletter”.
Tho I hate “subscribe to my newsletter”…
Typically a list built using this way gets better subscriber engagement even when the hook sucks
Folks who sign up for newsletters usually do so because:
- You’re well-known in your niche
- Friends want to support you
But I’d argue even for a famous person, a lead magnet beats “subscribe to my newsletter” when getting subscribers.
Compared to “subscribe to my newsletter”…
With a lead magnet, WHO the creator is — plays a lesser role in convincing folks to subscribe.
A lead magnet is more about the promise of how it (the lead magnet) can help folks solve their problems & frustrations.
Newsletter = less subscribers, higher engagement
Lead magnet = more subscribers, lower engagement
So what am I getting at?
If we’re not famous (yet), build an email list using a lead magnet instead of “subscribe to my newsletter”.
We get more subscribers faster.
Tho the subscriber quality for lead magnets is not as good as “newsletters”…
As long as we’re doing 20%+ email open rates, emails are good enough to land in the inbox.
Here are 6 reasons to get subscribers via lead magnets (instead of newsletters):
Table of Contents
🟡 For the newsletter to get to the same # of subs as a lead magnet, it takes longer
Because the lead magnet is gonna have a higher opt-in conversion.
I.e. It’s slower to build an email list using newsletters.
Which brings me to my next point…
🟡 Data / research is slower
More data -> easier to fine-tune our offers & assets to constantly improve.
Since newsletters slow down subscribers’ growth, less data can be analyzed to discover what works (& what doesn’t).
🟡 Sales is slower
Because less data can be analyzed, even less can be optimized.
- Slower sales (for our/client’s business)
- Slower to get results for clients
- Slower to get testimonials
- Slower to get case studies
🟡 Data is more accurate
With a lead magnet, folks opt-in because of the value proposition — how it will benefit their lives (WIIFM).
With “subscribe to my newsletter”, folks opt-in because of “personal connections” (wanna support their friend) or because the creator is famous
🟡 Friends might not show support when mahhhney is on the line
When our newsletter is free, friends & peeps are keen to support us by opting-in.
But when it comes to paid stuff…
Not as many are willing to pay for our paid offers…
Compared to if the value proposition was what they initially signed up for (like lead magnets).
🟡 Timing is key
In sales, timing is crucial.
We should get as many eyeballs as possible to our offers as long as a certain level of quality is maintained.
Because we don’t know WHERE in the buying journey someone is.
With regards to “a certain level of quality is maintained”…
As long as the email open rates are 20%+, it’s good enough to land emails in the inbox.
This way, we market to MORE people, each with their own buying timeline.
Btw, not saying we can’t send newsletter-type emails.
I’m saying we don’t have to build an email list by saying: “Subscribe to my newsletter.”
Because there’s a better way, and that’s via lead magnets.
6 reasons to build an email list using a lead magnet instead of “subscribe to my newsletter”
1/ Slower to build the list
2/ Research is slower
3/ Sales is slower
4/ Data is more accurate
5/ Not all friends wanna support us when mahhhney is on the line
6/ Timing is key
Having sent more than 1.4 billion emails through my email marketing tool, BirdSend…
There are 7 email mistakes many coaches & course creators unconsciously make.
Wanna discover these mistakes & how to fix them?