Edmund hit the nail on the head. I'm not sure why his strategy seems so secret to many (I think because marketers are still raking money in from this method) ...
But I can personally say that his simple method that he laid out works incredibly. It will build you lists with numbers far greater than any other method - my "squeeze pages" as they're called convert at over 50% - but as Mike said, it's not really the subscribers that will get you money, it's how you sell to them...
That all ties in with the relationship of your list, but the upsell and backend selling of your list is crucial. Many refer to this as the marketing funnel ... you start by selling them smaller priced items and then work them down the funnel until you are selling high ticket items. Now naturally you are going to sell more items at $19 then at $5000, but that doesn't mean you're going to make more profit there.
Another quick lesson about your list is something that I have a course coming out soon on ... your "list" isn't just your list. It is compiled with 5 different groups of people and once you know this, you will be multiplying profits many times over.
Your list starts with subscribers (the ones that signup for the freebies) then you have the affiliate (the person that might/might not buy, but promotes) then you have the customer (one time buyer of smaller product) then you have the long term customer (the person that buys over and over again - high levels of trust) then there are the JV partners.
All of these people come from your simple lists. When you are selling to your list, don't just sell the $29 ebook over and over again. Think about the model that I just showed you and work people down the marketing funnel while keeping the 5 different groups in mind. I have yet to see someone not make money with their list using this model.
I hope this helps ... if you have any questions about Edmunds system ASK! This will help you tremendously, so if anything is unclear just post a question.
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