Give subscribers an opportunity to change their list preferences

Hi there, I am just learning about list segmentation and targeting specific mailing lists with more relevant information. Previously our organization has only 'blasted' emails out to everyone on a mailing list much to my chagrin. Is it possible to send out a message to our existing <5000 subscribers to indicate their interests by subscribing to particular lists we set-up? How can this best be accomplished? Thanks for your advice!