One good way to make money online is through Email Marketing. But how? Well, let’s find out.
What is Email Marketing?
Surprisingly enough, the best way to make money online isn’t through social media, SEO or paid ads, it’s Email.
Email Marketing has THE biggest conversion rate of any marketing channel out there. Researchers point out that 66% of online consumers made a purchase after receiving an offer through their Email. Substantially more than sales through social media or direct mail.
First, you need to find a physical or digital product or even a service to sell, this is the cornerstone of Email Marketing, without something to sell there is no money to be earned.
Some ideas for products to be sell that can get you started could be eBooks, Training guides, online courses, Private virtual coaching sessions, Classes or Workshops.
Surprisingly enough you won’t have to sell your own product every time, you can become an affiliate for other businesses and earn a commission for sending traffic their way.
One of the greatest opportunities for increasing email marketing revenue is through upselling.
Another thing that makes Email Marketing so profitable is cross-sold related products. You’ll probably have received that email that says “because you bought this, you might be interested in this”. Targeting frequent online buyers with this emails will increase your revenue.
Repeat purchase may look the same as cross-sell, but it is not, sometimes you offer a service/product that requires a repeat purchase, a friendly email reminder to those clients won harm your business.
How to Build Your Email List
1.Picking a Niche
This is very important, the category that you pick will determine the success of your business and will have you figuratively swimming in profits. Or all the contrary and you’ll find yourself swimming in a river of your own tears.
There are categories that have proven to be more successful than others over and over again and others that are simply not worth the effort.
These three categories are Wealth, Relationships and Health, and within this categories are “Sub-Categories” and that is what we called a “Niche“.
Make sure to pick a niche that people want to learn about, that is vibrant and current in today’s marketplace, make it worth it for people to buy information about it, that has a lot of competition and most importantly one that is digital friendly.
Now that you have your niche, you have to choose your Email Provider Service (EPS). They will provide you with all the tools, templates and services you’ll need to get those subscriptions up.
Different EPS have different price models, so make sure to pick one that suits your needs, list size and expectations for growth. Some ESP will charge a flat monthly fee based on the size of your email list. Others will charge you per number of emails sent.
2. Squeeze Page
Setting up your squeeze page can be done easily because there are many free templates online that you can use. After you have chosen your “subject” you can draft an informative newsletter that makes you an authority on that subject, and send along more pertinent information.
The squeeze page will entice people to buy whatever it is you are selling.
3. Write your Email
Once your squeeze page is set up, you can proceed to write a set of emails that will contain the information and your offers.
It may sound somewhat stressful, but it really isn’t any need to stress out about this process. Why? There is no perfect way to do it. Just get the Email up and you can make adjustments later.
Pick the offers in your “niche” that will convert well.
4. Drive Traffic to your Squeeze Page
Without any online traffic heading your way will be impossible to get sales, obviously, and that makes driving traffic your way of the utmost importance.
There are some good ways to increase your site traffic, for example, you can find forums that are relevant to your niche make sure to make relevant posts with links back to your site.
Social Media is another good way to go, for example, Facebook, you can build a page with a logo and links to newsletters you’ve written. Google + is yet another great social media to promote your niche. You can find specific social media dedicated to your niche if they exist or get into newsgroups promoting your products.
Read More: How To Increase Website or Blog Traffic
How to Make Money with Email List
1. Affiliate Offers
Several Brands will be more than happy to pay you commissions for any purchasing customer you send their way. You can send affiliate offers to your customers generating revenue from your email list and it can be a pretty simple process. The key here is choosing brands that your audience will like to buy and send them their way.
Read More: How To Make Money With Affiliate Marketing
2. Sell your own products
Once that you have found your niche, created you squeeze page, redacted your emails and offers, then start selling them to your customers, take advantage of the previously mentioned platforms to promote your products and sell them.
3. Sending Your Subscribers to another website
You don’t always need to sell your products to earn money from Email Marketing. Some companies will pay you for sending subscribers to their offers, as long as they complete the transaction that is. Siteslike Baymack for example will pay you $1 for every referral you send their way who ends up registering and using their services.
4. Sell Your Sponsor Advertisement
Here you can take advantage of your Newsletter and Email List, and send Emails to your customers with sponsor’s links that will guaranteed you and increase income.
5. Selling your Email List
People who have created profitable email list have often decided to sell them for profit, even though It’s not very recommended, however, these people have found their “Niche” in creating successful email lists and sell them to starting entrepreneurs.
6. Cross selling related products
Cross selling is basically that email you receive that reads “you’ve purchase this item, then you might be interested in these others”. Just as Upselling this is proven to be an effective technique to increase your income.
7. Offer Consulting
Here is where you have to shine the most, it’s all about the “pitch” to give your clients to buy your products, and you have to make sure to make it relevant, upbeat, honest and straightforward, customer loves straight shooters, one you have a winning offer, your income will increase.
Do let me know in the comments if you know any other ways to make money with Email Marketing. Please share your personal experiences with one or more sites listed here as well.
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