Email marketing is a smart approach to boost your ROI by up to 3800%. Email marketing is ideal for building credibility, promoting your brand, and ramping up your profit margin — and a great source of passive income as well.
To make money from email marketing you will need to do the following;
Have a website, blog, or email marketing service with a sign-up form.
- Drive “organic” traffic to your website, blog, or social media channel.
- Entice potential customers or visitors to sign up for your email list/newsletter.
- Send engaging custom emails that reflect your subscribers’ interests.
- Promote relevant offers and promotions to your subscribers.
Sounds easy right? There is a lot more you should know, however. Keep reading for profitable ideas on how to make money from email marketing.
A Quick Look at the Numbers
Who would have thought that emails would become the world’s next big thing in digital marketing?
Email is now an essential weapon in your marketing war-chest.
It may interest you to know that over 3.9 billion people use email, and that figure is projected to hit 4.3 billion come 2023. And guess what, that’s half of the world’s population!
These are not just figures, that’s money waiting to be made, and you can claim your share if you look in the right direction— email marketing.
You have probably heard the words email marketing a couple of times, and you are yet to get your head around it. That’s ok though, you just found the answers to all your questions. We will show you how email marketing works and how you can make money from it.
Feeling excited already? Let’s get to it!
How Email Marketing Works – 3 Step Guide
Before we dive into “making money from email marketing” let’s take a second to understand how email marketing works. Shall we?
Email marketing follows three basic steps, and they are easy to follow through.
Step 1: Drive “Organic” Traffic to Your Website, Blog, Or Social Media Channel
To get started with your email marketing campaign, you need your email list – your subscribers.
You can collect emails from a web page that can be on your website or you can use email marketing providers like GetResponse or AWeber. These email marketing providers allow you to create a sign-up landing page if you don’t have your own website yet.
Tip! -More info about these services in this article – GetResponse vs AWeber – Which Email Service Is Best For You?
To grow your email list, you need to generate traffic to your sign-up landing page.
One way to go about attracting potential subscribers is increasing traffic to your website, blog, or landing page.
If you engage or entertain your website visitors with the right content, they will love to hear more from you and won’t mind signing up for your emails.
Tips on Getting More Traffic to Your Website and Blog
Here are some smart ways of getting more organic traffic.
1. Use the power of Search Engine Optimization (SEO) to gain traffic from search engines like Google.
2. Get influencers on board your marketing strategy.
3. Do guest posting on popular websites or blogs.
4. Keep your social media channels active by posting regularly.
5. Be active in popular online communities by making contributions.
How you generate your traffic is entirely up to you. It’s not a one-size-fits-all thing.
The aim to reach out to a larger target audience and get them to sign up for your email list.
Tip! – Get more traffic – Several Ways To Immediately Increase Your Website Traffic
Step 2: Entice Potential Customers or Visitors to Sign Up
To get people to sign up for your emails, you need to offer something in return.
Merely asking them to sign up no longer works. One way to go is to provide something for free – a guide or info product could work well. Again, your strategy should reflect what you are offering and should be relevant to your target audience.
Your offers should also be exciting – something to pique customers’ interest and get them to sign up for your awesome email newsletter.
Tip! – For more on this, read – Top Tools For Building Your Email List
Step 3: Monetize Your Email List – Send Custom Emails To Reflect Your Subscribers’ Interests
Everything you have done so far is to get to this point – this is where you can make money from email marketing.
Having successfully gotten your visitors onboard your email list, you can now pitch ideas to make them reach into their pockets.
As we mentioned earlier, sending random emails won’t get the job done. It would be best if you offered value, build trust, and gain their confidence before sending them offers and promotions.
Put Your Customers First
Always have the interest of your subscribers at heart whenever you write your marketing emails. If you can prove to them that they are your priority, they will warm up to you and be much more likely to buy what you are selling.
Do this and converting your leads and subscribers to sales won’t be an issue.
How to Make Money from Email Marketing
1. Sell Products/Services With Added Value
One way of making money with email is affiliate marketing. Affiliate marketing involves selling products or services on behalf of retailers via a unique link called an affiliate link.
Instead of leaving your email list idle, you can join a profitable affiliate program and earn commissions on every sale made through your link. So, while sending out your emails, you can incorporate your affiliate link to the product or services you are marketing.
Some of these products and services include eBooks, training guides, online courses, virtual coaching, memberships, and workshops. Think about it; this a lucrative and profitable way of monetizing your email list.
Must be relevant to your niche and audience of course.
2. Sponsored Ads
If your email list is large enough, you can try out sponsored ads. All you have to do is attach sponsored ads in your newsletters.
To find the right products or services to advertise on your emails, you can reach out to the advertisers directly or go through an ad network that will get you started and gain commission.
Whatever product or services you are going to advertise should be relevant to your audience’s demographics. While you are at it, remember to negotiate the best deals in terms of your payment. You could opt for a monthly flat rate or get paid per impression.
3. Sell Ad Space In Your Email Campaigns
If your leads and subscribers are “organic” and of the right size, there are people who will pay lots of money to feature on it.
The space on your email correspondence is an expensive commodity, and with the right price, you can make good money from it.
You may not want to push this too far though as it could turn your email subscribers off if you overdo it.
4. Send Subscribers to Other Websites
In addition to selling spaces on your email correspondence, companies will pay you to send traffic to their websites or special offer pages. This can be a great way of expanding brand exposure, and all you have to do is encourage your subscribers to visit those pages.
Providing such services comes with juicy offers, and companies pay handsomely for them. You could be sending customers to a product page, a landing page, or post content that discuss their services.
Hopefully, from these four examples above, you can see that you have some great opportunities to grow your business with email.
More On Email Marketing
Email marketing involves using emails to sell products and services (to both existing and potential customers).
The idea is to share personalized messages with customers to boost sales. Speaking of customized messages, personalized emails have a 50% higher open rate.
Email marketing may just be gaining traction as a fantastic digital marketing tool, but this practice has been around for a while in another form called Direct Mail. Some records even say direct mail is over a century old. Instead of sending emails, direct mail uses (yes, you guessed it) posted letters to a physical address!
Over the years, there have been countless success stories written about email marketing, making it more popular among business owners and entrepreneurs.
Why More People Are Opting For Email Marketing
Email allows you to maintain close contact with your customers. In addition to strengthening your ties, it also enhances your credibility and reinforces the confidence people have in your business.
People will only give you their email address if they are interested in doing business with you – that’s trust.
When customers sign up to be on your email list, they permit you to keep them posted. Gaining consent is the beginning of your email marketing campaign.
Your email list is your gold mine.
You can send frequent reminders about your services or products you have in stock and any special offers and sales.
Sharing links and other promotional content is also part of it. There is so much you can do with your email list – you only need to be creative.
Tip! – More on email marketing – How To Grow Your Email List Organically – Your Simple Guide To Success
People often think that email marketing is all about composing messages and hitting the send button. Not only is that thought wrong, but it is also misleading.
Anybody can send unsolicited emails. However, email marketing goes beyond sending emails; you must offer something of value to generate leads and get them to convert.
It would be best to convince people to submit their email address willingly before talking about monetizing your email lists.
Email marketing requires a lot of work, and it would be best to discuss your email marketing strategy with a professional. This way, you will be sure your emails don’t end up in the bin.
Hopefully, this article has given you insights and nudged you in the direction of making money from email marketing.