When anyone talks about email marketing , you will almost always hear the phrase -- "The Money Is In the List." I have to imagine that anyone in online business, whether it be internet marketing, or affiliate marketing , has to have heard this phrase at least a few times. It seems to imply one of 3 things: 1) that all you need is a list, and you will make money 2) that if you have a list, you will make money for sure 3) that if you don't have a list, you won't make money Well let's look at it as it relates to email marketing. 1) Online, all you need is a list and you will make money. This one could definitely be true.  If all you have is a list and you know how to maintain it and keep it dynamic and market to it, you could absolutely make money. But how did you get the list in the first place?  Unless you outright bought it, you had to gather those email addresses from someone and in some way.  So that may not be all you have. 2) If you have an email marketing list, you will make money for sure. Definitely not true.  Especially these days.  As Internet users become more and more savvy, and even more skeptical, they are not as easy to sell to as they used to be. Also, if you have a list, but you don't engender trust or develop relationships and