How to Make Money with Email Marketing?
One of the key reasons email has remained such a common medium is that when you have an email list, you actually own it and connect with your subscribers regularly. Email marketing is one way to make money and add a new revenue source from email. You can advertise a wide variety of goods and services that your audience might be interested in. Email marketing allows you to advertise the products of thousands of brands, such as Nike or Booking.com, and earn commissions on the traffic and sales you bring to them.
To demonstrate this, consider people who teach how to play the guitar on YouTube. After collecting subscriber emails and receiving a large number of questions about guitar accessories, guitar teachers will give personal advice via email about where to buy the best guitar accessories such as guitar picks, capos, tuners, and so on. They may, of course, recommend the best new guitars or even online courses on sites like Udemy or Masterclass.
Through supporting brands with affiliate programs, the instructor will then use the brands’ affiliate links, and any time anyone clicks on these links and makes a purchase, the guitar teacher can earn a fee ranging from 2% to over 50% of the purchase value. This is just one example of how to make money with email marketing.
This article will share with you many approaches you can take to monetize your email list. Let’s jump right into the details!
Table of Content:
- What is email marketing?
- How email marketing works
- How to make money with email marketing
- What you need to get started with email marketing
- Final words
First, let’s go over the fundamentals. To put it plainly, email marketing is marketing done by email. Email marketing involves the distribution of email newsletters, exclusive deals and promotions, and other interesting content.
Emails are also one of the most important ways to establish a long-term relationship with your audience. The stronger your relationship with your audience, the more likely it is that you will make money sending emails. When done correctly, email marketing can motivate your audience to take action, connect with your business, and help you generate more leads and sales.
How email marketing works?
To understand how you can make money with email marketing, it’s best first to understand how the process works. The email campaign process follows these three fundamental steps:
Step 1: Attract traffic to your website, blog, forum, or social media properties.
The first step in earning money from email marketing is to build your email list. You can’t send emails to no one, can you? To have recipients for your letters, you must have an email list. Focus on growing your website and blog traffic by targeting a niche audience to create your email list. This means that the right people are viewing your website or blog.
The more someone is interested in your website’s content, the more likely they will want to receive your emails. There are many methods for increasing traffic to and popularity of your site. Here are some suggestions:
- When creating content, follow SEO best practices to increase search engine traffic.
- Collaborate with influencers or like-minded individuals in your industry.
- Begin by posting on other people’s websites as a guest.
- Upload your content to social media on a regular basis.
- Participate in social media communities.
There is no set number of website users, blog readers, or social media followers needed to begin making money with email marketing. However, the greater the volume of traffic, the larger the pool of potential customers.
Step 2: Attract visitors to sign up to your email list.
Next, make the most out of your growing online fan base. Make it worthwhile for your followers to join your email list. Give them a reason to hand over their email addresses, in other words. Simply asking people to opt in for your blog or sign up for your weekly newsletter is no longer enough to get their email address. You must give them something in exchange.
A freebie is an excellent way to entice people to enter your email list. Another common method is to have a free course or free trial. Whatever you sell, make it attractive and relevant to your audience; otherwise, they will not sign up for it.
Step 3: Send your subscribers emails based on their interests.
This is the step that anyone who is learning how to make money with email marketing looks forward to. Now that you’ve persuaded your website visitor to join your email list, you can persuade them to send you their money.
However, keep in mind that you must continue to provide them with value before you can ask for their money. Your readers are most likely bombarded with marketing emails on a regular basis. You’re just another email in their inbox before you prove your worth to them. You aren’t exceptional unless you can demonstrate that to them.
Always keep your audience’s needs at the forefront of your mind when writing emails. Remember why they joined your list in the first place, and always deliver knowledge based on that. Often put their needs ahead of your ability to benefit from them.
One thing is certain: they would be able to buy from you IF you can show that you care about them and their pain points. This is what “nurture your email list to transform leads into customers” really means
How to make money with email marketing
1. Sign up to an affiliate network
Affiliate marketing involves getting customers to purchase goods or services via a special link known as an affiliate link. When a customer uses your affiliate to make a purchase, you will get a commission.
To get started with affiliate deals, sign up for an affiliate program. Affiliate programs have product and service lists that the companies want people like you to promote. You’ll often receive affiliate links and banners to use on your blog or website. You will need to create email content to refer traffic and earn commissions.
Some well-known affiliate programs that you should consider are:
- Commission Junction
- Amazon Affiliates
Affiliate marketing can be extremely profitable. Many people earn six figures simply by advertising partner deals to their email subscribers. You will certainly make a full-time income from affiliate deals if you have the right audience and a lot of traffic.
2. Sell your own physical products
This one’s for the bloggers who’ve made it! You don’t have to be a celebrity blogger to try to market your own physical product. You, on the other hand, would need a sizable fan base.
To be effective with physical items, give something relevant to your blog or website. Selling wellness-related items such as workout apparel is a viable option if you’re a blogger in the health and fitness niche.
The advantage of thinking about how to make money sending emails promoting your own physical goods is that you don’t need a middleman. And, unlike partner deals, you do not receive a commission; instead, you receive 100% of the income.
On top of that, you’re developing your brand and adding value to your business. You are no longer just a blogger who enjoys sending emails. You’re actually on the way to being a business tycoon!
3. Seek email sponsorships
Another profitable way for email marketers to monetize their email list is through email sponsorships with brands. Several brands with large email lists provide the option of sponsoring an email campaign. For example, The Financial Brand allows you to sponsor their email newsletter. Furthermore, the eLearning Industry allows you to buy exclusive email blasts to their email list.
Even if your brand isn’t as well-known as The Financial Brand or the eLearning Industry, you can still benefit from your email list, particularly if you’ve been delivering useful content to your email subscribers and developing rapport and trust over time. That is not to suggest you can give someone access to your list. It is critical to generate a list of brands that can support your target audience in a complementary way.
If you consider yourself an influencer – or even a blogging entrepreneur who writes great articles on a specific topic – your audience will trust you enough to help them in your area of expertise. So, aim to compile a list of organizations and individuals that can provide value for your email subscribers in a similar and complementary manner. Then, reach out to your goal list and suggest an email sponsorship.
4. Sell digital products
If selling physical goods isn’t a feasible business plan right now, consider selling digital products. Sending emails is also one of the most profitable ways to make money. Digital products are clearly not physical, but they are available on one or more digital platforms.
They can be ebooks, educational classes, webinars, and video tutorials. Your customers can view these items online, or you can give them links to download them after they make a purchase.
Digital goods are easier to sell than physical products because you don’t have to deal with the hassles of delivery, returns, and inventory. There is no upper limit to the amount of money you will earn from digital goods.
5. Segment your audience
When it comes to email marketing, personalization email is important (and marketing in general). Indeed, customers receive hundreds of emails per week, so you must find ways to stand out from the crowd. Not only can this increase your email open rates, but you will also earn money as people buy the items you suggest.
Given this, make every effort to send the most targeted and customized emails possible. Your email list audience can be segmented based on subjects, items they are interested in, or geography.
For example, if you work in the fitness industry, you might send a survey to your contacts through Typeform or Google Forms asking them if they are interested in yoga, weight loss, muscle gain, cycling, and so on. You can then use this data to segment your audience by using email marketing tools.
Bear in mind that the more groups you divide your audience into, the more work you will have to do. If you have ten segments, you will need to write ten separate emails, one for each. You will proceed to the next stage once you have segmented your audience.
Automated email workflows are perfect because you only need to set them up once, so you can let them run and generate revenue while you work on other tasks. So, for example, if you have an article on your site about ‘The Best Plant Delivery Services,’ you can set up an automated email that sends plant delivery affiliate program links right after a subscriber in your list visits that page.
Email marketing tools, such as AVADA Email Marketing, allow you to send targeted emails based on the geography of your subscribers. So, if a sizable portion of your audience is located in another country, you can give them more relevant products and deals by locating merchants who operate in that country.
Both of the above examples will significantly boost the efficiency of your emails, as segmenting your audience based on location and actions can result in a significant increase in conversion rates.
6. Create valuable content for your newsletters
Any company, regardless of industry, should have a newsletter to maintain long-term relationships with customers and increase recurring sales. Similarly to creating content, think about how you can generate the most value for customers. And if you have already had a content strategy in place, you can easily repurpose the content for your newsletters. Consider your consumers’ pain points, obstacles, and objectives. How do you assist them in overcoming obstacles and achieving their objectives?
Let us return to the fitness industry as an example. If the majority of your contacts are interested in losing weight or gaining muscle, you might give them a list of the best exercises for losing weight or gaining muscle.
You may also provide coupons for the latest fitness equipment to help them achieve their goals, as well as links to merchant partner programs like Puma, Nike, or Dick’s Sporting Goods. If you have a large number of subscribers in specific countries or markets, make sure to tailor the content of your newsletters to be appropriate, and consider sending deals from merchants that operate in those markets.
Finally, it is still a good idea to write about up-to-date topics. To do this, construct a calendar of important events in the year that you should be writing about. Take note of public holidays and main retail activities in the United States, some yearly events you should start having content ready for are Black Friday, Cyber Monday, and, in case of the fitness industry, the Annual Super Bowl.
What you need to get started with email marketing?
To get started with email marketing, you’ll need a blog (obviously!) and a few useful resources that will make your life much easier. If your blog is up and running, you will also need:
- An email capture tool: This is the tool that will allow you to collect email information on your website by creating forms, pop-up boxes, and so on.
- Email marketing tool: This is the software you can use to handle your email database, also known as your subscriber list. There are a lot of email marketing apps out there and one of the best is AVADA Email Marketing. It makes maintaining your list and sending emails to it extremely simple.
AVADA Email Marketing also includes email capture features, allowing you to use a single tool for all. Other important features are email list segmentation, email automation, drag-and-drop email builder, and comprehensive reports; basically everything you’ll need to start making money with email marketing; all in one tool!
That’s it! I hope that this article has provided you with valuable information about how to make money with email marketing. Please feel free to leave comments below for further discussion on this topic!