5 ethical, proven strategies to make money with your email list
If you're building your email lists, this is the best way to increase your profits with it. Get these five key ways to profit from your email list (the proper way).
Growing an email list is like growing a vegetable garden.
If you don't take care of your garden gardening, your garden won't grow tasty greens for you to enjoy.
The same goes to your email lists, except you'll be missing the money kind of green.
If you're a small-scale enterprise owner that has an expanding email lists and you want to increase your income online then you're in the right location.
Today today, we reveal the secrets on ways to make money from your email list with no intention of ever having to sell your precious email list.
More specifically, we'll take the reader through five strategies to make your email list more profitable to benefit the subscribers as well as your company.
5 straightforward ways to turn the email you receive into an income machine
#1. Offer a tripwire to your email list subscribers
Okay, the title might remind you of espionage However, there's nothing illegal about using tripwires in email marketing -- if you use it in the correct method, of course.
For those who aren't familiar with it with a tripwire, tripwire is an item that is inexpensive to offer to your opt-in subscribers. The idea is, once they buy your tripwire for a reasonable price you offer, they'll become a fan of your brand and inclined to buy other items through your website business.
Take a look at this vintage image of the tripwire that was made in the old Columbia House, where they offered cassettes for dirt cheap to let people through the front doors.
The Columbia House tripwire that contained 13 records or tapes at a price of $1, they were enticed to purchase even more great recordings on the label.
And that's, ultimately, the purpose of tripwires in order to bring additional customers to your sales funnel, so you can send them follow-up messages that encourage the customer to purchase additional products of your company.
It goes without saying that your tripwire needs to delight your purchasers.
A sure way to wow the customers who purchase your tripwire is to provide a high-quality product and experience regardless of how cheap the tripwire may be, or what the profit margins are.
Why? Your customers will feel a connection to the brand.
If you've gone further to help connect customers to your business, you'll surely be thankful for the effortparticularly when you consider that ninety-three percent of companies agree that consumers tend to spend more when they are at ease with.
Therefore, treat your tripwire customers like VIP customers, let them know that you are interested in them and make every effort to help them feel more at ease with you.
Keep this up for longer You'll notice the conversion rate increase to a higher degree.
50% of customers who have a repeat purchase are able to make another purchase within the 16-day period following the initial purchase.
In case you're thinking about how well tripwires (good ones) work, the answer is quite.
KendraBLOGS's founder KendraBLOGS, Kendra, enjoys a 46 percent conversion rate with her $77 digital download tripwire. This is a digital item that earns more than the $59 digital item she sells.
This is why a low-cost tripwire may make the ideal appetizer to offer your email users. If you can truly assist them to resolve a challenge and help them feel connected to your company, they'll turn into a devoted fan of your online business.
This makes selling to your readers a much simpler job, even though it's not your product -- which brings us to our next tip.
#2. Use affiliate marketing and promote affiliate products
Instead of being under the stress to create and maintain the products you create Affiliate marketing allows you to earn a percentage of the affiliate products that you sell.
Here's how affiliate marketing basically is done:
It is possible to join an affiliate marketing program.
You promote and sell affiliate products to your list of email subscribers
Earn a percentage of the commission every when you market the affiliate item
It's the payment-per-sale affiliate-marketing method, in fact. This is the model of affiliate marketing for its simplicity's benefit.
If it's only providing your own personal collection of your favorite Amazon books for your subscribers to email Your email content needs to be relevant as well as help your customers solve their problems or reach a goal.
Find out more about how the Podcast Host provides a reference to an affiliate service, Bluehost, and mentions it as a tool to make use of to help his subscribers to reach their business goal.
Rather than promoting Bluehost as a separate email, the Podcast Host has integrated the affiliate program nicely into his content for educational emails and makes it a relevant affiliate product.
Follow in the footsteps of The Podcast Host and you could be pleased with this email way to monetize your email.
That's why well-constructed affiliate marketing programs can boost revenue by up to an astounding 30 percent .
However, on the flip opposite side, if you do not provide relevant information to your email subscribers the likelihood is that they'll be unsubscribed from your email list. In fact, emails that don't provide value to the subscribers is the most common reason why people unsubscribe from the email list.
If you're looking for affiliate marketing opportunities to sign up with take a look at these sites, which are among marketers' favorite affiliate marketing networks :
In a nutshell:
Choose an affiliate marketing plan which is compatible with your brand and audience. Then promote relevant affiliate products, in the context of valuable email content, to your customers.
Important note: in any endorsement or affiliate marketing program, include an acknowledgement of your affiliation with the company you're advertising, in accordance with FTC rules .
Disclosures are extremely important when we come to our next suggestion, too.
#3. Seek email sponsorships
Another profitable way email marketers earn money off their email lists is to partner with other organisations and companies for email sponsorship.
Several brands with large email lists offer the opportunity to support an email marketing campaign.
The Financial Brand , for example, allows you to sponsor their email newsletter. And the E-Learning Industry allows you to purchase exclusive emails to their email list.
Even though you may not have the same reach as an image as Financial Brand or eLearning Industry However, you still have the ability to leverage your email list particularly if you've been providing valuable information to your users and building relationships and trust over the course of time.
This doesn't mean you can sell access to your lists to anyone. It's crucial to create the names of companies that could benefit your customers with a similar manner.
If you see you as an influencer- or even a blogging entrepreneur who writes great articles on a specific topicyour readers trust you enough to help you in your field of knowledge.
So, try to come up with an organization as well as individuals who can assist your email subscribers in a similar and complementary manner. Then, contact your target list and offer the possibility of a sponsorship for your email.
If you're thinking you don't have much pull here consider reconsidering your position.
37% of those aged 18-34 believe they can trust a brand following the viewing of sponsored content created by an influential person. In addition, 60% of customers believe in the opinions of an influencer about the company more than what the company says about its own company, too.
This is similar to that of affiliate marketing - be in tune with the needs of your customers and refrain from being overly promotional.
Consider this email of Whole 30 , which features Chipotle's new Whole 30 diet-compliant menu items.
The email explains that those who adhere to The Whole 30 diet can benefit by the increased food choices within the restaurant rather than exclusively promoting Chipotle's newly-launched menu.
Basically, you've worked hard to earn your email subscribers' trust, don't ruin the trust by sending out an unrelated mailer.
In order to keep your email sponsors happy, the key here is to monitor your deliverability as well as open rate metrics, so you are able to report back to your client the results of the sponsored email campaign.
Here's a helpful advice: Check your sponsor's email's subject line to ensure that you can improve the campaign's open percentage.
Most of the well-known email providers, like MailChimp , Benchmark and ActiveCampaign are able to let you A/B subject lines prior to sending out your email campaign to the majority of your email subscriber list.
This is great because it's important to consider subjects, especially when you consider that 35% of email recipients open emails based on subject line alone, so you should test A/B your emails for sponsors.
If you're interested in the average email open rate that's 21.33% for all industries .
No matter what statistics you give your email sponsor this is the main point to be sure that the email sponsors and your subscribers to email will be a perfect match. Create relevant and helpful email marketing campaigns that will benefit all parties involved.
Be sure to do your due diligence and add any disclaimers to let your subscribers understand that you're being compensation for advertising content in your emails.
If dealing with sponsors from outside may be a bit for you the two, then our next suggestion could be right up your alley.
#4. Promote a webinar on your list of email subscribers
Another effective way to make money online using your personal database of subscribers to your email is to offer a free webinar to your list of subscribers.
You're unsure about what topics to discuss for your webinar?
If you discover there are a large number of respondents who aren't responding to your questionnaire, hop on social networks and look over the most popular comments and posts. Review your top performing emails to determine those topics that resonate most with the people on your list.
Whatever method you choose to do the research, your viewers is likely to lead you to the exact issue they'd like to find out about through your webinar.
After that, customize the contents to suit your readers' preferences, and finally, create and offer an educational webinar to your subscribers for the cost of.
If you want a streamlined way to handle your email list and campaigns for email, offer webinars, and manage your online business take a look at .
Selling your webinar using 's all-in-one dashboard can be as easy as choosing "Product" in the "Create" drop-down menu...
Name the webinar and choosing "Webinar" from the modal popup.
Then, you'll have the option to then add YouTube Live or Zoom webinar URLs. You will also receive instructions on how to enroll in the webinar.
Then, enter your webinar price (and the payment schedule If you'd like).
After that, boom. Your webinar will be available on your website. This is a breeze, don't you think?
While there are many platforms that can be integrated it is important to find out first what your subscribers' email preferences are to know the best about.
Then, finesse the webinar's content so that it can help the participants solve their specific issue Then, you can offer your paid webinar to subscribers via an email that leads right up to your scheduled webinar.
Another option is to offer your webinar as a gift to your attendees, then you can sell products or services for your attendees -this is our final topic for today.
#5. Upsell and cross-sell products to your email list subscribers
The main difference is that, instead of upselling or cross-selling on the checkout landing page, you're providing additional products to segmented email lists using timed sequences of emails and tailored options.
Let's imagine that a certain percentage of people who subscribe to emails has bought entrepreneur Seth Mosley's digital product, The Baby Steps Plan that retails for $49.
Seth can upsell a higher-ticket item, such as the music production mastery online class, which cost $997 to sign up for.
This new technology will be beneficial since the natural step from learning how to become a professional within the industry of music is to develop a plan and become an expert. (Much easier said than done surely.)
Basically, for upselling what you must do is send an email to give your segmented email list of customers a chance to be new.
The email you send out to upsell customers can motivate users to upgrade their subscription from a free version of a product to an upgraded version.
Medium is an example, and uses an upsell email to outline all the benefits the email users get by upgrading to a paid plan.
Make it a one-time exclusive offer that nicely bundles two like-products.
Evernote uses this strategy in their mail sequence, where they encourage subscribers to both upgrade their plans and take advantage of a limited-time deal for an extra six months of the upgrade plan.
Contrary to what you might believe, selling an item that is priced higher doesn't necessarily require adding additional information, neither. It's all about providing the best customer experience and support.
The majority of consumers claim that they'd be willing to pay 16% more for better services. Additionally, the majority of customers are willing to pay 15 percent more if assured of a better service.
If you're concerned about the need to design an expensive digital product, try trying to offer more direct customer support , or personalized onboarding as part of your upsell.
For cross-selling, it is possible that you are able to suggest items your subscribers might enjoy, according to what you've learned about them through their email habits as well as personal interactions and other information about your customers.
You can take an online course such as. You can send customers who bought your course online an email with a cross-sell of one-on one coaching sessions that keep them accountable for reaching their goal.
This mail from the mattress maker Casper Casper is an excellent cross-selling message, even though it offers the service as a freebie. The email highlights the Casper Sleep Channel , which might complement a Casper bed purchase.
Similar to that, Methodical does a great job cross-selling coffee and coffee-related products in the same email this could work well if they have a lot of people looking for coffee merchandise or new coffee.
The basic idea is this:
Cross-selling and upselling isn't limited for your checkout process. If you are able to provide relevant items that are specific to the segments on your list of email subscribers, then email could be an effective way to convince people to take action and buy.
Blossom your business alongside your email list
The possibility of increasing your revenue through email marketing as long as you are loyal to the email recipients.
These are the five reliable -- and ethical -- ways to make money using your email list
#1. Give a free tripwire to your subscribers' email addresses as a way to connect them to your company.
#2. Promote relevant affiliate products which will bring benefits to your email subscribers.
#3. Join forces with companies that are aligned with your business and subscribers and request that they sponsor email campaigns.
#4. Discover what subscribers need the most help to solve. Create and market a paid webinar to your list of email subscribers for them to solve the issue.
#5. Make use of cross-selling and upselling in your email marketing campaigns in order to provide practical and useful solutions for your list of email subscribers.
Let's help your bottom number as well as the email list subscribers.