Depends on the niche. If you are promoting just one product then you are possibly losing big source revenue. If you are using an optin form and you are getting a lot of optins then send out a newsletter once a week. Put a few offers within your newsletter. You are able to mail to them until they optout. Always keep records of your openers and clickers; these are the ones that are interested in what you are mailing them.
I currently only have 2 emails in my sequence, but I'm planning on building it up when I have time. One thing I've discovered is that often I want to blast out about the same topic. In that case, it makes sense to simply add an automated email about that topic to the sequence to introduce my new subscribers to it so when I do blast out about it again at least they have some introductory knowledge on the topic.
Edit:
I'm talking about my main blog newsletter above. I have some campaigns setup with 10-20 automated emails, but I also do not blast those lists much.
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