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Empire Avenue shareholder mail: Does it work?

empire avenue shareholder mail resultsEmpire Avenue shareholder mail is a topic of much debate on the Avenue. Many people say it’s a waste of time. Some people never read the mail so they assume nobody does. Others have tried sending shareholder mail and didn’t get the response they were looking for. In my experience: Empire Avenue shareholder mail works. To quote @SharonHayes :

I’m impressed.

Sharon played Empire Avenue but deleted her account to focus on a major project. When she finished the project she returned. To help her get even more momentum I sent out a shareholder mail telling everyone she was now back and available. I told my shareholders about her numbers before she quit and that I expected them to double their money by the end of the week. She gained 22 new investors in less than 10 minutes. Her price went up almost 2 eaves in about 20 minutes. Fortunately she kept me honest and more than doubled by the end of the week.

The first thing you must have is a goal. There are many things that can be accomplished. Here are some goals I have gone after with my mail:

  • Get traffic to a blog post.
  • Get comments on a blog post.
  • Help a friend promote their ebook or other product.
  • Help a friend sell shares.
  • Get people to join your #EAv community.
  • Get people to tweet out a link to an event or something special.
  • Get people to follow/friend/like etc. on other social networks.
  • Create new partnerships for guest blogs and affiliate promotions.
  • Simply get likes/comments on the mail
  • Enhance engagement with your shareholders

The trick to a successful shareholder mail is simple: provide value. A while ago I started the #EAv lottery. I give away up to $50 to Amazon every 2 weeks based on the number of shares they own. Of course people love to win money so they bought me up. When the first Empire Avenue Lottery winner was drawn I actually posted who it was in a blog post so I could get traffic to my blog. Then I wrote a mail that was titled Lottery “Winner and Tips.” I started the mail by telling people a few things I do to increase my dividends and connect on #EAv. People clicked on the link because they wanted to see if they won. I got traffic by A)providing tips and B)giving away money.

Not everyone is doing this for a business though so giving money doesn’t make sense for most players. I continue to conduct the lottery but I have done several other incentives to create a successful mail.

  • Ask people to leave a link to a blog post, video, or photo they would like a comment on.
  • Commit to buying shares if someone comments, tweets, or does something else you would like them to do.
  • Ask people to leave links to a social network sites so you can make sure you are following them.
  • Simply provide tips for playing Empire Avenue or links to articles that you find helpful.
Anyone can offer up an incentive of some sort. It doesn’t have to be huge. People just want to be appreciated. The key is to offer something of more value than what you are asking of them. If you are in a position where you can offer limited value then don’t ask for anything! People will comment and like because they recognize you are going out of your way to help them simply because you want to. Empire Avenue relationships can feel cold sometimes and this is a sure fire way to say “hey, I’m a cool person and I want to help you succeed.”
The best way to tell if the mail is working is to keep track of the likes and comments for each mail. If they are increasing that means people are coming back to read your mails each time and you are gaining shareholders. Don’t be discouraged in the begining if you get minimal response. It takes time to build trust in shareholder mail and as people see the value you are providing they will learn to trust you more and become more willing to do something if you need help. Here is the history of my shareholder mail responses (You couldn’t always like/comment mail so I’m starting with the first one you could):
  1. 1 likes 0 comments
  2. 12 likes 8 comments
  3. 30 likes 16 comments
  4. 35 likes 20 comments
  5. 70 likes 30 comments
  6. 95 likes 27 comments
  7. 93 likes 23 comments
  8. 118 likes 33 comments
  9. 127 likes 63 comments
  10. 133 likes 31 comments
  11. 154 likes 47 comments
  12. 153 likes 51 comments
If I judged off the first mail and said “this is worthless” then I would have been missing out on 1,021 likes and 349 comments to date. The shareholder mail with drop in comments from the previous mail are where I asked people to comment somewhere else like a blog post. Right now I get 15-20 comments, tweets, or “actions” when I ask people to do something elsewhere.
The absolute most important thing to remember: Show appreciation and provide value to your shareholders. Is there something you’ve done in a mail that you had success with?

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  • lacouvee

    Thanks for this post Scott – I’ve not sent a lot of shareholder mail yet. Not that I don’t believe in it, just that I needed to think about some incentives (and keep them do-able).

  • AnneThomas

    Thanks Scott, – great information as always. Have a great weekend!

  • micksay

    Hi Scott – Nice post – Share holder mail seems to work for me on an investment level but I have not yet used it for marketing my business. Glad to see you making expert use of it. Mick

  • cyndeehaydon

    Excellent tips Scott – you’ve shown what having a purpose can do – need to rethink them myself

  • AvramGonzales

    Very informative post Scott – I knew right away shareholder mail was good for numerous things for those that took the time to post and send them out. It’s also advantageous if you’re receiving them and you take a moment to comment, show interest, provide more value etc. If people see you everywhere – they know you’re playing the game, and if they like what you’ve said you have a great opportunity to make some new friends or sell some shares.