A Simple (Yet Often Overlooked) Way to Grow Your Email List - Rick Mulready
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A Simple (Yet Often Overlooked) Way to Grow Your Email List

May 20, 2022

Are you looking for a simple and effective way to grow your email list? 

It can be easy as business owners to overlook simple things that can help us succeed even when they are right in front of us because we are too close to our own businesses. Having a business coach or outside eyes on your business is so important for making sure you don’t miss any growth opportunities.

In this quick tip episode of The Art Of Online Business, I am sharing a simple and often overlooked way to grow your email list. It’ll also increase your awareness and positioning, as well as attract your ideal audience to your business. 

That strategy is podcast sponsorships. Find a business that works in the same niche as you on a complimentary, not competitive, side and offer to sponsor their podcast for a little while. This will directly connect you to their audience who are also your ideal audience.

This is a highly leveraged way to grow your email list and if done correctly, it will pay off tremendously. Start by researching complementary businesses that have podcasts with the same ideal audience. You’ll get some high leverage wins for a cost-effective budget by sponsoring them. 

In this episode, you’ll learn:

  • Why you need outside eyes on your business
  • The benefits of working with complementary businesses in your niche
  • The importance of finding leverage in your business
  • How podcast sponsorships work

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*Disclosure: I only recommend products I use and love and all opinions expressed here are my own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission.

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Transcript

[00:00:00] Speaker1

Hey, my friends, if you are looking for a faster, a better way to grow and scale your online business, you very likely do not need another course or to be reading more books about how to grow your business. What you need instead is a personalized, cohesive growth strategy for your business, along with one on one coaching and group coaching, support and accountability to help you every step of the way. Well, that’s exactly what my accelerator coaching program delivers for you. Accelerator is an intimate 12 month rolling open enrollment, so it’s ongoing open enrollment, personalized coaching program and mastermind experience for established online course creators and coaches who want to take the guesswork out of optimizing and grow towards a profitable seven figure plus business without more anxiety, without more stress and hours spent in front of the computer, accelerator is about thinking differently and bigger about your business, about your team, your funnels, your ads, your vision, etc., so that you can create more profit, more impact with less hustle. So accelerators application only. And again, this is rolling ongoing open enrollment. So if you want to learn more and apply, just go to Rick Mul Radio.com forward slash accelerator. Hey my friend, welcome to the Art of Online Business Podcast. My name is Rick Mullaney and I’m an online business coach. I’m an ad’s expert, and most importantly, I’m a dad. And this show is where we help established online course creators and coaches create more profit, more impact with less hustle. All right, let’s get into it.

[00:02:03] Speaker1

Hey. Hey, what’s up, my friends? Welcome to another quick tip episode here on the show. Thank you so much, as always for tuning in. Super appreciate you. Well, it’s going well, whatever you’re up to right now. So today on the on this quick tip episode, I want to share with you a very simple yet often overlooked way to grow your email list and also to grow your awareness and positioning and to attract basically your audience to your business. And this strategy here, we’ll call it a strategy. Yeah. Is something that is an example of it’s right in front of us, but yet we often overlook those things that are right in front of us because we’re too close to our own businesses. Right. This is why I always recommend that you have some sort of a coach or you’re getting outside eyes on your business. And this episode here is a result of something that came up in a one on one coaching session I was doing with one of our new accelerator members. So when people join Accelerator, the first call that we have is a kickoff strategy called where we map out the first 90 days for their business or while they’re in the program. And that calls with me. And so I this person wants to grow their email list and grow their audience. And knowing her space a little bit, simply because another member of Accelerator is in the same space but a different side of the niche, if you will.

[00:03:38] Speaker1

And then a friend of mine is also in this exact same space, has a very large business in this space, but is a complementary side of the niche to this new accelerator member that I’m referring to. And so my question to our new member here, I said, Do you know that person? You know my friend who’s in this who’s in the same space? I said, Do you know that person? You have any kind of relationship with them? And they said, Yeah, yeah, I know them and but not super, super well I’ve, we’ve done some things together as far as speaking to their audience and so on. And I said, you realize that that is your exact audience and you both don’t compete. You’re in fact very complementary. And so what you could offer that person’s audience is a complete value add to what they’re doing in their business. And this person that we’re referring to has a really, really big podcast in that space. And so what I said to to our accelerator member, I said, could you sponsor their podcast? Could you be a sponsor of their show? And they looked at me like, Whoa, I hadn’t really thought about that. And look, here’s the deal. When it comes to sponsoring a podcast, it doesn’t have to be this complex thing, right? And so the beautiful thing about that is it can be very cost effective. And also especially when this is your exact target audience as it is in this example, here again, it’s the perfect audience for our accelerator member and there’s no competition here.

[00:05:31] Speaker1

It’s complimentary. So our accelerator members services and what they do in their business is completely, perfectly complimentary to my friend in this in this space. And so I said, this is a huge opportunity for you. Very, very easy to do and high leverage. So one thing I’m always wanting to help our students do is to find leverage in their business. And so I recommended I said, can you reach out? And actually, by the way, they had a presentation coming up with this person in a couple of months. And I was like, Perfect. Why don’t you ask this person if they would be willing to accept a sponsor for their podcast for a short period of time, i.e. them to be to sponsor their podcast. And this would be an amazingly highly leveraged way to grow their email list. And so our accelerator member has an amazing lead magnet for this audience and does really, really well with it. So that could be what is promoted in a podcast sponsorship spot, right? So anyway, so they’re going to reach out, right? They’re going to connect with this person, talk to them about being a sponsor, seeing if they’d be willing to do that sort of thing. Right. And so there’s a few different ways to think about. Sponsorships when it comes to a podcast, right? So you can sponsor for a period of time. So like a month or a quarter and say, you know what, I want to buy cue three, I want to be the sponsor on your podcast for Q3.

[00:07:12] Speaker1

And then you ask them like, what sort of investment would that look like? Or you can buy, for example, in groups of downloads. So say for example, since my friend here in the space has a really large podcast. Our accelerator member could go to them and say, Hey, I would love to purchase, say, 100,000 downloads. Be a sponsor for 100,000 downloads on your show. And it’s priced on CPM cost per meal, right? Basically cost per 1000 impressions or in this case here for a podcast cost per thousand downloads roughly at a time recording this roughly the CPM for a podcast sponsorship is anywhere in that 25 to $30 ish range. Again, that’s the CPM. And so for 100,000 downloads, it would be about $2,500. Right. And so that’s very, very measurable because what our accelerator member could do is set up a unique landing page for the lead magnet that the only traffic that’s coming to that page, for example, is from the sponsorship of that podcast. And so then they can measure the cost per new email subscriber in that way. And it would be a test, right? Just like any kind of advertising that we do. It would be a test to see how effective it is. And so the point here that I want to make is doing something like this is a highly leveraged activity for you in your business, whether you’re a guest on another podcast, that’s not where we’re talking, I guess podcasting 100%.

[00:08:57] Speaker1

You should be doing that. But that’s outside the scope of what I want to talk about here today. There are other things that you can be doing, too, in terms of, hey, what about what about would you accept a sponsor for your podcast, i.e. me? Because what I do in my business is completely complementary to what you do on your podcast and how you serve your audience. I’d love to add additional value to your audience. So here’s what I want you to do after listening to this episode. I want you to start brainstorming. What podcast has your exact audience? Have your audience. And it doesn’t have to be a big show, right? It doesn’t have to be like, you know, some of the biggest shows that you see. Oftentimes the best podcast that you can approach to be a sponsor for are sort of those, quote unquote, lower to mid-tier podcasts that don’t have a ton, you know, tons and tons of downloads, but have a really passionate listener base, right? And where you have a complimentary offer to what that person does in their niche, right? So how they serve their audience when you have something that’s complimentary to them. Now we’ve got a perfect marriage there. And so I want you to start brainstorming. I want you to start with 25 podcasts and there’s different ways to do this, right? So you can do you know, you can just go on to Apple Podcasts and you can start researching.

[00:10:29] Speaker1

You go to like your perfect show that that you listen to, for example, that has your audience. Then you can scroll all the way to the bottom and you’ll say something like other shows or people also listen to, and it’ll give you a whole bunch of other shows. Well, you know, this is how you start to do the research, what these other podcasts are, where your audience is. So do this research or have somebody on your team do this research where you just start to list out as many podcasts as possible. Right? And then from there, once you have this list, then you want to identify obviously who is the host and have somebody on your team, hopefully on your team to in the spreadsheet, pull up or find out what their Instagram handle is. Right. Because what you’re going to do is you’re going to DM them on Instagram. So from there, before you DM them, obviously you want to write out what you’re going to say in your message, right? This is where doing your research, right? Just not reaching out a completely cold message. Now you are reaching out cold unless you have a relationship with that person, of course. But you are reaching out cold. But don’t be like, Hey Jennifer, love your fill in the blank of the most recent episode. I’d love to sponsor your podcast, etc. etc.. Do the research. What do you like about that podcast? What is it about that podcast that resonates the most with you and talk about with them what they teach their audience, how you would love to add some additional value and do that in a way of.

[00:12:10] Speaker1

I’d love to sponsor your podcast. Do you accept sponsors for your show? Right. This doesn’t have to be four paragraphs. Just get right to the point. Be authentic, be personal, and do your research prior to reaching out. Because one of the worst things I get multiple pitches to be on this show every single day, and that’s a whole other story. They’re just terrible. But anyway, DM people on Instagram go through your list, right? And let’s just say you reach out to 25 different people. Maybe you get a 30% response rate. Well, there’s 6 to 7 people right there that you can start to build that relationship with and potentially be a sponsor for their podcast, find out what they would charge. And I would guarantee you that for some of those, quote unquote, lower to mid-tier podcasts, they have no idea how podcast sponsorships work. So you could make an offer to them of what you’d be willing to to pay. Right. Obviously, you want to make it always, always, always a win win on both sides. Right. And so that’s what I would recommend that you do. This is sort of an often overlooked way, sort of thinking outside the box, outside of your standard, you know, Facebook ad, Instagram ad campaign or TikTok or what have you to grow your list and awareness.

[00:13:35] Speaker1

Hey. What are the podcasts that my audience is listening to that are complementary to what I do? Can I be a sponsor for them? This is where you get some really quick high leverage wins for oftentimes really, really cost effective budget. So there you go, my friend. That’s what I recommend that you do. That’s an outside of the box way to think about growing your email list can be super, super effective. Again, as always, you’ve got to be testing this stuff, but I’d love to hear you. If you do this strategy, shoot me a DM on Instagram. I’m at record already. Let me know how it goes. If you have any questions on it, shoot me a DM on Instagram as well. I think this is a really, really powerful way to do it that not a lot of people are thinking about other than the big companies and what have you. So as always, thank you for listening to the show today. Super appreciate you. A great way to support the show, if you haven’t already, is to leave a quick rating and review for the show over there on Apple Podcasts or whatever platform that you’re listening on. And also make sure to subscribe click that subscribe button or the follow button wherever you’re listening to the show so that you don’t miss any episodes. Appreciate you, my friend. Appreciate you, my friend. Appreciate you, my friend. I’ll see you right back here for the next episode here in The Art of Online Business Podcast.

 

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