How to Make Money with Email Marketing

Emails are a form of direct marketing and have been a strong asset among the tools a digital marketer uses. It has evolved, grown, and has managed to stay effectively relevant over the years. It has the highest conversion rate compared to other marketing tools such as SEO, paid search ads, social media marketing, etc.

According to some studies and reports, email has an ROI of about 3800 to 4400% and is 40 times more effective than Twitter or Facebook at acquiring new customers.

Email marketing agencies such as Bookyourdata research customer data and have effective tools that offer databases with email listings that help reach targeted leads. A solid strategy is created to gain reach thus converting them into subscribers and, eventually, sales.

But if you’re growing an email list and want to make money with email marketing, but are getting no clicks or sales, here are some tips that can help you convert!

1. Define your target customer list

Begin by creating a targeted email list. You cannot start a campaign without a list. Converting visitors into subscribers is the best way to collect emails. It is important to note that not all visitors would be willing to sign up and subscribe to you. So how is this done?

Successful email marketers have achieved excellent results by strategically placing exit-intent popups, a technique used in websites to keep visitors from leaving the site.

2. Set a campaign goal

You need to have a specific goal in mind. Think about what action you want your subscribers to take.

Your goals may be to:

• Promote a product or service and increase sales
• Build strong relationships with existing subscribers by offering them something they can’t resist
• Send out more targeted emails by segmenting your customers

This is just to give you an idea of what you can do, but you need to have your own list based on your personal conversion goals.

3. Create an attractive subject line 

To be able to succeed with the aforementioned points, draft a powerful headline that people won’t be able to ignore. It’s your subject line that will decide if your email will be opened, or deleted. What’s worse is that it may end up in the spam folder.

4. The email must be engaging

You need to retain the reader’s attention. Here’s how you can achieve this:

• Use convincing writing strategies. Persuade the reader to take one specific action.
• Use short sentences and paragraphs. The message will be easier to understand while being interesting to read. Stick to your point and pass the message quickly.
• Building a strong connection with the readers takes a knack. You can do this by writing in the first person and using the reader’s name. This way, the readers feel that they are having a conversation directly with you.

5. Sell a product or service

If you don’t have something to sell, find a digital service or physical product to sell. You must have a product/service to promote as it will be impossible to make money even with email marketing measures.

If you don’t have an idea of what to promote to your audience, here are some ideas that can get you started: online courses, ebooks, virtual tutoring, training guides, and/or workshops or classes.

6. Sell someone else’s products or services

To monetize email marketing, you don’t always need to sell something of your own. Instead, you can opt to be an affiliate for other businesses’ services or products or services. You get commissions from a business, as an affiliate, from how much money you generate for the company.

Make sure to have a healthy relationship with your subscribers before you begin affiliate marketing. Only suggest products that make sense for them. If not, it could lead to them unsubscribing.

7. Upsell and cross-sell 

Upsell: Smartly persuade your readers to make an added purchase. If you are selling a product for $10, try convincing them to spend “ONLY” or “JUST” one more dollar to upgrade the product’s quality. Use specific words to make it more convincing.

Cross-sell: Convince your reader to spend a little extra money to purchase an additional product that matches their interest or something that compliments their current purchase.

8. Advertise on your email list

You need to be regularly in contact with your subscribers if you want to make money with an email list. Furthermore, you must have a way to do this; an attractive newsletter format is a good way to go.

You can charge brands to be in your newsletter in the form of a link to their blog, banner ad, etc. If you don’t have a brand you’re partnered with, you can add your affiliate links as well.

Here are a few ways you can make money through email marketing for your business idea or venture!