Email marketing is one of the most powerful tools for growing your online business. You've likely heard the phrase, "The money is in the list." Yet, for many entrepreneurs, that hasn’t been the case. Instead of generating revenue, their email list is just another expense.
But that’s about to change.
By the end of this post, you’ll have at least one new strategy to transform your email list from a cost into one of your most valuable assets.
There’s a lot of conflicting advice out there about email marketing—what platform to use, which automations to set up, how frequently to email, and more. While it’s easy to feel overwhelmed, the key is understanding what truly works for your business. Below, we’ll address three critical mistakes that could be costing you money and how to fix them.
Reason #1 - Your Lead Magnet Is Repelling, Not Attracting, the Right Audience
A lead magnet—whether it’s a free guide, checklist, template, or training—should do more than just grow your email list. It should attract your ideal customers—the ones ready and willing to buy from you.
But many business owners get this wrong.
Common Lead Magnet Mistakes:
Offering something that attracts freebie-seekers rather than buyers.
Creating a lead magnet that doesn’t align with your paid offers.
Using a generic opt-in like "Join my newsletter" without a compelling reason.
How to Fix It:
Ensure Alignment with Your Offer: If your lead magnet doesn’t naturally lead into a paid product or service, rethink it. For example, if you’re a web designer targeting premium clients, offering a “DIY Website Checklist” attracts people who don’t want to pay for your services. Instead, a lead magnet like "5 Website Mistakes That Are Costing You Clients" speaks directly to those who are ready to invest in a solution.
Make It Irresistible: Your ideal client should see your lead magnet and think, “I need this right now!” If they’re not excited to download it, it’s the wrong lead magnet.
Use a Simple Yet Effective Opt-In: If your content is already valuable and engaging, you might not even need a lead magnet! Some subscribers will join simply because they love what you share. Make sure your website has an easy-to-find newsletter signup form.
Reason #2 - You’re Chasing Numbers Instead of Engagement
Many believe the myth: "The bigger the list, the more money you'll make." But that’s not always true.
A large, disengaged email list is a money drain, not a money maker. If people aren’t opening or clicking your emails, they’re not going to buy from you. Worse, you’re likely paying more for your email marketing platform to keep inactive subscribers on your list.
How to Fix It:
Prioritise Engagement Over List Size: Focus on getting high-quality subscribers who actually want to hear from you rather than just growing your list for the sake of numbers.
Regularly Clean Your List: Set up a re-engagement sequence for inactive subscribers. If they don’t engage after a certain number of emails, remove them.
Send Emails Consistently: If you only email your list when you’re selling something, people will tune you out. Keep them engaged with value-packed content so they look forward to hearing from you.
Reason #3 - You’re Ghosting Your List (Until You Want to Sell Something)
One of the biggest mistakes business owners make is treating their email list like an ATM—only showing up when they want to make a withdrawal (i.e., sell something).
This approach destroys trust.
Your subscribers should feel like they have a relationship with you. If the only emails they receive are sales pitches every few months, they’ll either ignore you or unsubscribe.
How to Fix It:
Commit to Consistency: Send emails regularly, even when you’re not launching a product. A weekly newsletter is a great way to maintain engagement.
Provide Value in Every Email: Not every email should be about selling. Share insights, stories, case studies, and quick wins your subscribers can apply right away.
Make Your Emails Conversational: Instead of robotic, corporate-style emails, write like you’re talking to a friend. This makes people more likely to open, read, and reply.
Final Thoughts
Email marketing isn’t just about collecting subscribers—it’s about building relationships and nurturing a list of people who trust you enough to buy from you. By fixing these three costly mistakes, you’ll stop leaving money on the table and start turning your email list into a revenue-generating machine.
Now it's your turn!
Which of these mistakes have you been making? What’s one action you’ll take today to improve your email marketing? Let me know in the comments!