An RSS (Really Simple Syndication) feed is a simple text file that contains all the content you have published. You'll usually find them automatically generated by your blog, but you can also use them for other purposes - perhaps an up to date feed of your articles, or your offers.
The benefit to the user is they can use web services or software to "subscribe" to feeds they like, and each day be presented with the latest updates. It's like having an e-mail subscription outside of their actual email.
For the marketer the benefit is that it's yet another way to keep in contact with your visitors, subscribers and customers. With email becoming more difficult deliver, RSS feeds are one possibility. It's probably better to use both.
One service worth using is Feedburner, now part of Google. This service will count the subscribers you have, and ensure your feed is compatible with a ride range of readers. It also has features to let you add extra content to your feed - such as ads, and social bookmark features.
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