How Valuable Are Your Readers?
Many list owners have a formula that helps them figure out how valuable their subscribers are. This is usually done so that you figure out how much money each subscriber means to you. For example, this may be $1 a month, $5 or even more.
To come to this figure, the list owner typically will add up the sales generated by a mailing and divide that figure by the total amount of subscribers. Most marketers prefer to get to the point where each person will earn them $5 a month.
This same formula can also be applied to your blog and many help you get a better idea of the payoff that you’ll be getting from spending the time and effort to establish your business blog.
Once you have a better idea of how much each one of your visitors is worth, you may even be more motivated to keep adding new readers and to keep your promotional engine running.
Thanks to the power of business blogging, your visitors may eventually exceed the value of your list subscribers. If you are writing effectively and making sales, you can easily have your visitors worth more than $10 a month to you. Keep it up and see just how much it can grow over a short period of time.
But there are other ways to help you gauge how valuable your readers are – after all – money isn’t everything. A valuable reader is one that reaches out to you through the comments section, follows your work and tells their friends. The amount of people that do that is generally pretty small, unless you have a very popular site.
This is invaluable for many different reasons. First – you are getting free promotion and that is worth a bundle. Second, you’re getting better page views which can spell more revenue. Last but not least, you are building up a targeted audience – and that right there can be worth millions.
Think about the value that each one of your readers has before you post one more thing to your blog. Ask yourself whether or not that post is also valuable to them.
After all, this is a two way street. Find ways to build up more valuable readers and learn how to monetize the ones that are not responding.
Managing a business blog is not a static position and there is a little bit of work involved, especially if you want to be successful.
By learning how much your readers are actually worth, this can actually help you reach your goals in less time. Take the time today to see how much your readers are worth to you and figure out ways that you can increase their value.
At the same time, consider how you can increase the overall value of your blog, since these two are interconnected. Never stay stagnant, and keep moving forward. That is the key to building up a strong following – and one that is very valuable indeed.