What are the pros and cons of starting an email automation platform?
An email automation platform has a few pros and cons, which you should be aware of before getting started.
Here are the high level benefits and drawbacks of an email automation platform:
|• Flexibility||• Constant maintenance of publication|
|• Ability to start your business from home||• Security Issues|
|• High customer retention rates||• Isolation|
|• Scalable||• Stressful work|
|• High margins||• Niche Market|
|• No overhead costs||• Customer churn|
|• You are your own boss!||• Work can be repetitive|
|• Predictable income stream||• Complex development process.|
|• Greater Income Potential||• Complex maintenance|
|• Strong Demand & Relatively Recession Proof||• Be prepared to get out of your comfort zone!|
|• You establish yourself as an expert||• Technical issues can be frustrating|
|• Various different ways to make money|
|• You can work from anywhere!|
|• Make money while you sleep|
|• Results and revenue happen quickly!|
You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
• Ability to start your business from home
It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
• High customer retention rates
Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your email automation platform becomes an integral piece of their every day lives.
With businesses and processes changing daily, there will always be demand for new features, products and services within your email automation platform. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
• High margins
The gross margins for your email automation platform are typically around 47%, which is considerably high and allows you to grow your business and manage costs easily.
• No overhead costs
To get your email automation platform started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!
• You are your own boss!
With starting a email automation platform, you are the one to make decisions for almost all of the operations. Calling the shots can be empowering and liberating!
• Predictable income stream
With a email automation platform, your income stream is typically predictable based on the number of customers you have signed up. This makes financial planning and outlooks much more seamless!
• Greater Income Potential
When you start your own email automation platform, you have the ability to make as much money as you want. You no longer work for someone else where at any point, you could be let go or get a pay cut.
• Strong Demand & Relatively Recession Proof
The demand for email automation platform is increasing year over year and the business is known to be relatively recession proof.
• You establish yourself as an expert
Starting a email automation platform helps to establish yourself as an expert in your niche. In return, people are more likely to trust you, refer you to friends/family, and support your business.
• Various different ways to make money
With starting a email automation platform, there is not just one business model to choose from. This field is amazing in that there are various different ways to make money. Although this may complicate things, it's great to have different options and sources of revenue.
• You can work from anywhere!
Not only can you start your email automation platform from home, you can also run your business from anywhere in the world. This is the entrepreneur dream.
• Make money while you sleep
The advantage of starting a email automation platform is that you have the ability to have passive income and make money while you sleep. This is the dream for many entrepreneurs.
• Results and revenue happen quickly!
Unlike other businesses, it can be relatively quick to start seeing results and revenue for your email automation platform. As long as you follow all the steps to validate your idea before launch, you are likely to see immediate results and ROI.
• Constant maintenance of publication
You may find yourself constantly needing to update your email automation platform in order to stay relevant for your audience and for those searching on google.
• Security Issues
With any Saas business, data loss and security issues may arise throughout your process of building your product. It's critical that you understand exactly what you're responsible for and how to avoid potential issues down the road.
Often times, as a email automation platform, you typically work alone and do not have much face-to-face interaction with other team members.
• Stressful work
This line of work can be stressful for both you and your clients. This type of transaction is a significant financial decision for your client, so expectations are very high for you. Although this career path can be very rewarding, it also comes with its challenges and stressful moments.
• Niche Market
A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.
• Customer churn
With a email automation platform, people can cancel their subscription - which can make income unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.
• Work can be repetitive
You may find creating the same product over and over repetitive and tiresome. One way of avoiding this is to diversify product lines and revenue streams - this will keep things interesting!
• Complex development process.
The development process for a email automation platform can be quite complex, which may cause delays and challenges when launching and growing your product.
• Complex maintenance
Your email automation platform will require a long-term investment due to the need for updates, bug fixes, and security vulnerabilities. It's important that you (or someone on your team) stays on top of this at all times.
• Be prepared to get out of your comfort zone!
Although this is exciting for some entrepreneurs, it can be a big challenge for others! You may find yourself in uncomfortable social and business situations, jumping into tasks and responsibilities you aren't familiar with, and pushing yourself as far as you can go!
• Technical issues can be frustrating
A big part of starting your email automation platform is the ability to work through technical issues. If you struggle with the technical side of things, you may want to consider outsourcing this responsibility to save yourself the time and frustration.