How can I best utilize my mailing list?

I have my lists separate. We do a special list for past clients where we offer discounts every now and then. Kind of like a VIP list.

We also have a weekly newsletter sent out to our subscribers talking about small business marketing and effective copywriting (our target demographic is artisans and small business owners). This list's focus isn't to sell anything, but the point of it is to build a following and to reach more people. It breaks the barrier of entry if you're constantly giving useful stuff that people need, so when you do start selling something (maybe an e-book or a webinar that provides more in-depth access to you and your expertise) it becomes easier. Your subscribers feel like they're getting a lot of value and will be more likely to buy from you.

You really need to earn their trust first and pump up your value before you see significant responses to your emails about your products. Or even think about selling affiliate products to your list. (If they don't trust you and your opinion, they're not going to buy your affiliates). If you already have a well known reputation, then this is a bit of a moot point, and sometimes, you can simply announce a new product or service and people will respond, because they love you already. You already have a loyal base.

But if you're just starting out, you have to convince people of your value. And that you're not there to just take their money or use their email as a dumping ground for your promotions.

If you're just building your list, use an email client like Aweber or Mailchimp. Mad Mimi is a good up and comer too. And then write up a welcome email that'll automatically be sent to people who opt-in to your list.

You can even entice people to join by offering something free in exchange for their email.

And then, depending on the reason they signed up (is this a discount list or a newsletter? A teaching series or montly updates?) give them what they want. Write awesome tips that your subscribers can use in their daily lives. Make it a joy to read your emails. And then offer them a product that, by then, they'll really want. Because they see the value in what you have to offer.

It is honestly a lot of work, yes. But email lists are one of the strongest ways to generate sales, if done correctly. There's six points of contact to a sale, so you need to consistently be there, reaching to your list with awesome stuff before that sales barrier goes down and you start getting people to buy from you. That's the best organic way to earn money from a mailing list.

Hopefully your list targets individuals in an industry that your product provides a solution for. If that is the case, you are likely going to get between a 1-2% hit rate on emails that you send to your list. If you don't want the people on the list to get mad at you for spamming them, you should make your list opt-in, after the initial email.

You can use the list to get people to check out your website, your twitter account, your blog, etc... but a more effective way to engage the recipients of that first email might be a short webmonkey survey that offers a prize to a random participant of the survey.

I think the application of your list will determine the possibility of generating revenue with it. Are you providing your customers with information they cannot access without you? Or, are you providing them information that is EXTREMELY time consuming to compile, so they must pay you to do it for them?

The only way I could see someone paying for a mailing list is if it met either or both of the two above conditions. The revenue would probably be generated on a subscription basis... If you post more info we might be able to give you a more detailed answer...

You can use your email for a number of ways to generate some revenue.

For instance, for your restaurant, you can use it to send out coupons, or offer special promotions that only those who receive your news letter are privy to. If it is possible, you can create a database of Birthdays and offer a free meal for the celebrant.

For your consulting business, you can have a monthly newsletter that features tips based on your consulting services. If you are giving a speech, you can advertise it there. Personally, along side the tips, I like to advertise things like a new ebook that I published, or a webinar that I'm going to host.

I hope this helps...