When looking at email lists I like to classify them as being either “Deep” or “Wide.”
Here’s a quick explanation of what I’m talking about.
(And why this concept is so important for marketers.)
1. Deep Lists
Deep lists primarily refer to a list of buyers. More specifically, I’m talking about a list of buyers who have spent serious money. This can be anything from $297 all the way up to $1997, or more. Another feature of these lists is that they are usually small. For example, you often hear people brag about making money with a list of less than a hundred people. This is how they do it.
When I talk about deep lists I’m also talking about your relationship with that list. People with deep lists have cultivated a relationship with their audience over years and sometimes decades. The audience sees them as a valuable source of information and guidance. They are effectively a guru in their industry.
This means that when you mail high ticket offers…well…the list converts.
And with every offer mailed that relationship grows deeper and deeper.
Then, on the other hand, you have…
2. Wide Lists
A wide list refers to a list of people who have yet to convert. It also refers to people who may have bought low ticket offers. It could also mean you have a list of freebie seekers who will never convert. Another feature of these lists is that you have subscribers who don’t read your emails, or who rarely read them.
Now, this type of list can make you money. For example, if you have 10,000 or more subscribers, and you make a low ticket offer, you’re almost guaranteed to make sales.
Will you make as much as you would with a deep list? Probably not, but it really depends on what type of offer you’re mailing…and how many subscribers you have.
Another problem with wide lists is that these types of buyers can be a pain in the butt. These are the people who feel nothing about asking for a refund and ripping you off. Wide lists can also be a problem because running a list takes money.
So now that you understand this concept here is the real question:
Which type of list is better?
Deep or wide…
The truth is that neither is perfect.
What you really want to do is aim for a mixture of both.
To start with, you want to get as many subscribers as possible and build a wide list.
Really build up that subscriber count and never stop doing this.
Ideally, you want new people subscribing on a daily basis.
You then want to start filtering out people, converting your subscribers, and building a deep list
You do this by mailing as often as possible.
People who aren’t interested in what you’ve got will unsubscribe.
(Believe it or not this is actually a good thing.)
You basically want people to stop wasting your time and shit or get off the pot.
This is basically the art of curating and manicuring your list.
You also want to build and strengthen your relationship with your audience.
This means getting them to know, like, and trust you.
Next, sell a mixture of high and low ticket offers.
High ticket offers also help to get rid of people, especially those who were never going to buy.
That being said, you shouldn’t only sell high ticket offers. It’s a good idea to mix in the occasional low ticket offer. You see, there could be people who like what you’re offering, but who aren’t ready to commit to spending a lot of money with you. These people need a taste of what you’ve got to offer, before they commit to a bigger meal. This is why it’s a good idea to occasionally throw in a low ticket offer.
The bottom line is that you have deep and wide lists.
You goal, as a marketer is to build a mixture of both.
By doing this you’ll maximize conversions…
…and ultimately turn your list into a money making machine.