Listbuilding is Relationship Building

To succeed in affiliate marketing, it’s essential that you build lists of targeted prospects. Listbuilding is the lifeblood of affiliate marketing, and the smart marketer knows that it’s not just about numbers; it’s about building relationships.

If you’re tired of working hard to promote your business and want to learn how to make your business work for you, here are three ways you can use your lists to build long-term relationships with your prospects:

Think targeted, not numbers. If you’re focused mainly on the number of people on your list and not their compatibility with your product, you’re going about it the wrong way. Newbie marketers often mistakenly think that having more subscribers is equivalent to earning more profits. This is simply not true.

Successful affiliate marketers will tell you that their fortunes were made from the quality of their leads, not the numbers of people one their lists. Be very specific about your offer, and work to attract subscribers who are specifically interested in your niche market. Your marketing efforts should appeal to your target market, not the entire world.

Put the Law of Reciprocity into overdrive. Here’s the deal. The more you give away free, the more money you’ll earn in the long run. The most successful marketers give away tons of stuff free. If you approach every transaction with a greedy mindset, you’ll soon be finding yourself closing shop and looking for another hobby.

Create something of value, and give it away for free. If it is a free report, target the most pressing needs of your customer base. Use this report as an opportunity for an upsell. Give them value but don’t give it all away free. Use the free report as a lead-in to a related but much more valuable product.

Consider the lifetime value of a customer. You don’t want to make a sale; you want to build a relationship with buyers. Keep in mind that if you give your customers what they want plus more, they’re more likely to make additional purchases from you in the future. The amount of money you can expect to make over the long term with each customer is called the Lifetime Value of a Customer (LVC).

The LVC is more valuable than just the purchases he makes over the course of time. It also considers the referrals he’ll make to others (and the referrals they make to others) when he is happy with his transactions with your company. This is why you don’t want “satisfied” customers; you want customers who are thrilled with their dealings with you. If you’re focusing on the sale, you’re using the wrong approach. Consider the potential reach of a sale, not just the immediate deposit in your bank account.

Listbuilding is about building relationships. Think of it as the difference between your friends and acquaintances. Making a one-time sale is like saying hello to an acquaintance. It’s friendly, but you don’t know if you’ll ever see that person again.  A lifetime customer, however, will be the long-term “friendship” that cements the foundation of your business.