Email marketing is one of the most efficient tools that businesses use to communicate with their customers. It’s considered as one of the most effective channels for marketers because it has a high open rate (48%) and return on investment, which is up to 3x higher than social media.
It's also a great way to interact with your customers on a personal level, building brand awareness and customer loyalty.
This blog post will teach you how to make money with email marketing and do it the right way, so that it doesn't take up too much time or effort and pays off in increased profits for your business!
What Is Email Marketing and Why You Should Make Money with It
Email marketing is one of the oldest form of marketing. It has not lost its importance in today’s digital world.
Email marketing is one of the cheapest and most effective forms of advertising out there. It can be used to create content that will be sent to your customers or prospects through email, mobile push notifications, or social media updates.
In short, it is a technique for generating income from a list of emails (your customers' emails) on a computer, tablet or/and smartphone. So, having a good email list is like printing some money for you (even while you're sleeping!). That's why email marketing is a great way to earn money if you are looking for a passive income.
What's more, email marketing is so powerful because it allows you to send targeted messages about offers of your products and services at the right time on the right devices. If done well, this will result in increased sales through conversions or subscriptions that turn into repeat buyers!
And now, we know that you might be wondering one of these questions and here are the answers...
How much money does email marketing make?
There is no definite answer to this question as it largely depends on how you execute your email marketing campaign. However, if done correctly, email marketing can make you a lot of money.
According to the Direct Marketing Association (DMA), for every dollar spent on email marketing, businesses earn an average return of $44.25. This means that for every 100 people who open your email and click through to your website, you could potentially make $4425! Not too bad, right?
There are a few different ways email marketers make money. The most common way is by selling advertising space in their email newsletters. They can also make money through affiliate marketing, where they promote products or services and receive a commission for every sale made as a result of their recommendation.
Additionally, many email marketers earn income through lead generation, which is the process of collecting email addresses from potential customers in exchange for something valuable, such as a piece of content (like a free eBook) or a free trial of products/services.
Now let’s see how to make money with email marketing in a step-by-step way.
How to Make Money with Email Marketing: The Step-By-Step Guide
Now that you know all the reasons why email marketing is so great, it’s time to learn how to make money from it! But before we get started, let us ask you a question.
Do you have an email list?
If the answer is no, don't worry! We will show you how to build a list quickly in this guide. But if you answered yes, that's great! You can use the tips below to improve your results with email marketing.
Now let’s get started!
1. The First Step is to Create a Lead Magnet
A lead magnet is an irresistible bribe that you offer your potential customers in exchange for their email addresses. It can be anything from a free report or e-book, to a discount coupon or a free trial of your product or service.
2. Next, Create a Landing Page
Once you have created your lead magnet, you need to create a landing page where people can download it. The best way to do this is by using a professional landing page builder like LeadPages or Unbounce.
3. Drive Traffic to Both of Them
Once you have created your lead magnet and landing page, the next step is to drive traffic to them. You can do this by creating blog posts and articles that mention your lead magnet, by posting about it on social media, and by advertising it in paid search or Facebook Ads.
4. Follow Up
The last step is to follow up with those who downloaded your lead magnet and convert them into customers! This can be done by sending them an email marketing campaign with a sales pitch for your product or service. Or you can offer them a discount or give them an incentive to buy.
Okay, now that we have covered how to make money if you have the email lists, what about people (or maybe you) who don't have email lists yet?
If You Don't Have an Email List Yet, Here Are the Best Guides for You
How to Make Money with Your Email Lists?
The best way to make money with email marketing is by building an email list. This will give you direct access to your customers/subscribers' inboxes on a consistent basis, allowing you to send them targeted messages that they are sure to open and read and buy from you!
Now we need to consider the best way to earn money through these newsletters that you will send to them. Remember: not everything is the same size. Some of these techniques will likely help your niche but some may not. We're not selling hamburgers to vegetarians! So, what are the methods to make money with email marketing? Well, here they are:
1. Affiliate marketing
If you're not familiar with it, this is when you promote another company's product or service and receive a commission every time someone buys something as a result of your recommendation. This can be done through an article, blog post, video or even just a simple mention in your email newsletter.
For more technical explanation, affiliate marketing is a marketing practice in which a business rewards one or more affiliates for each customer or sale generated through their marketing efforts. Affiliate marketing is often touted as a "win-win" situation for both the affiliate and the business since the affiliate only pay for results, not advertising or sales efforts.
There are several ways businesses can participate in affiliate marketing, including but not limited to:
Pay-per-click (PPC): In this type of affiliate marketing, an affiliate is paid every time a user clicks on an advertisement placed on their website.
Cost-per-action (CPA): With this type of affiliate marketing, an affiliate is paid every time a user completes a specific action, such as filling out a form or signing up for a service.
In order to participate in affiliate marketing, you will need to join an affiliate network. These networks are platforms that connect businesses with affiliates who want to promote their products and services. The most popular affiliate networks include Commission Junction, Rakuten Affiliate Network, and ShareASale.
If you're interested in learning more about affiliate marketing, we recommend checking out this comprehensive guide from our friends at Shopify.
This is just one example of how businesses can make money through email marketing; there are many other methods available depending on your niche and business model. So explore your options and find the method that best suits you!
2. Selling advertising space
This is a great option for businesses that have a high-traffic website or blog. You can sell advertising space in your email newsletter to companies who want to reach your audience.
When you sell advertising space in your email newsletter, you can make a lot of money! But there are a few things you need to keep in mind:
You need to have a large enough email list for it to be worthwhile.
The advertiser needs to be a good fit for your audience.
You need to charge it at a fair price.
In order to successfully sell advertising space in your email newsletter, you should create a detailed media kit that includes the unique selling proposition of your list and information about how you plan on targeting your audience.
3. Lead generation
Lead generation is the process of attracting and converting potential customers into actual customers.
You can begin this method by collecting email addresses from potential customers in exchange for something valuable, such as a piece of content (like a free eBook) or a free trial of products/services.
In order to generate leads, you need to put yourself in front of your target audience. This can be done through various marketing channels, including but not limited to:
Once you have your target audience in front of you, it's important to create content that is relevant and useful to them. This content can be in the form of blog posts, eBooks, infographics, videos, or even just a simple email newsletter.
Once you have their attention, it's important to ask them for their contact information so that you can follow up with them. You can do this by offering them a freebie such as an eBook or a White Paper in exchange for their contact information. Or you can simply ask them to sign up for your email newsletter.
Whichever method you choose, make sure that you provide value in exchange for their contact information!
When it comes to lead generation, there are no one-size-fits-all solutions. You need to experiment with various marketing channels and find the ones that work best for you and your business.
4. Selling your own products/services
Selling your own products or services can be a great way to make money with email marketing. When you sell your own products/services, you control the entire sales process, from the initial sale to after-sales support.
This allows you to create a more personal relationship with your customers and provide better customer service.
There are a few things you need to keep in mind when selling your own products or services:
You need to have a good product/service that people want to buy. When it comes to selling your own product, you have two options: create your own product or dropship products from a supplier. If you're not sure which option is best for you, we recommend checking out this comprehensive guide from our friends at Shopify.
You need to have a strong sales funnel in place. In order to sell your own product, you need a good sales funnel in place. A sales funnel is the process of converting potential customers into actual customers. It consists of several stages, such as lead capture, lead nurturing, and finally, closing the sale.
You need to be able to provide good customer service. The key to creating a successful sales in your email marketing is attracting the right people and providing them with enough value and good customer service so that they are willing to buy your product.
You need to be able to generate traffic to your website. Generating traffic is critical for the success of your website and email marketing. It is the only way for you to increase your reach and make sure that more people are aware of your products and services. It is important that you know how to do this well in order for your website to grow and become successful.
The benefits of selling your own products are that you keep 100% of the profits and you get to build a more personal relationship with your customers, which can help increase customer loyalty in the long run. The downside is that it takes time for people to buy from you (time = money). If you don't have enough capital or patience, then this might not be the best option for you.
5. Use a Tripwire
How do Tripwires work? Tripwires, sometimes renamed "product splitters" (product splitters) are cheap offers typically in the range of 5-5 dollars which will appear immediately upon the signup. This is meant to accelerate the building of buyers/seller relationships. This book is also an example of making money through email marketing. Digital Marketer found that tripwire purchases increased the probability of buying a product from you and buying your core offer. It's possible to get someone who is buying from you more often than not.
6. E-mail abandoned shopping cart
Cart abandonment in online stores can cause serious problems. You could make the customer buy it, but if you don't buy it then it will never happen. If they left their cart it could be a variety of reasons for not purchasing anything from you. What's going on here? You send an email to them retargeting them by convincing the customer that they should complete the checkout and buy with you. Please stop this process. Send an E-Mail auto response if you're targeting people who abandon your cart.
7. Email Segment
The report also noted that segmentation accounted for 664% of all campaigns compared with the 763% a year before. When you segment your list it gives you more visibility about who your prospects are and who are simply lurkers. You may segment the lists based upon their etiquette, open rates of interest in your products or previous purchases etc. GetResponse estimates that a similar approach will increase open rate clickthrough rates and boost engagement.
How can I get people to subscribe to my email list?
As our experience, we started by getting four to five monthly subscribers. Afterwards, we try to gave a freebie (like free tips of some topics that our customers are interested for) and began gaining about 5 to 6 subscribers per day. Then, we start offering some excellent, free eBooks and since then there were more subscribers that sign up to our email lists. So, we recommend that you copy these methods to start gaining your email lists as soon as possible.
This email marketing tool can be very helpful in attracting potential clients to your mailing list. When you create outstanding content, your site visitors/readers will likely join your mailing list so that they will have your site's updates every day.
Well, this is the step-by-step guide to build your email lists successfully:
Step 1) Create a “hook” so people sign up for your list
When you create a hook, you are providing something of value in exchange for someone's contact information. This could be a free ebook, a series of tips, or even just access to exclusive content. Whatever it is, make sure it is something your target audience will find valuable.
Step 2) How to set up your email list?
After choosing to send someone an email list, you need to get the list setup. GetResponse has been recommended by many companies for its reliability and the services it offers is excellent. This email marketing tool has an amazing set of features.
After you've signed up GetResponse, log in and you are ready. After that, we have to create an opt-in box where the visitor is allowed into the list of your mailings from your website.
Step 3) Setting up your autoresponder series
Next step you want to do is to start a new autoresponders series that you can send to subscribers. If you want to set up an autoresponder, click here. So after doing this, click on "Create New Autoresponders" and then fill out all of the information that they ask for about who will receive their messages and etc.
This is very important! You want people from different segments receiving different emails even if its just a little bit customized content because these small changes can make or break someone joining your mailing lists or not.
In order words, do not send everyone the same message but rather tell them something slightly personalized based upon what type of customer they are (i.e., past buyer, new visitor etc.).
Step 4) Setting up your landing page
The next step is to set up a landing page. A landing page is simply a web page where someone arrives after clicking on an email link or ad. This could be the same web page as your opt-in box, or it could be a separate one altogether.
The most important thing is that the design and content of your landing page are in line with the offer you made in Step One.
So if you're giving away a free ebook, make sure your landing page looks like it's from an author's website, not some generic sales site.
Step 5) Testing and Tracking
The final step is to test and track everything! You want to make sure that all of your links are working properly, and that your email content and landing pages are driving conversions.
You can use the tracking tools within GetResponse or use this amazing tool that we use to do testing & tracking called ClickMagick to see how many people open your emails, click on links, and convert into subscribers.
After following these five easy steps, you'll be well on your way to building a successful email marketing campaign!
If you're looking for more information or want help setting up your own email marketing campaign, contact us today. We offer free consultations to help get you started.
Now that you know the basics about email marketing and how to make money with it, let's dive into some more specific tips!
Email Marketing Tips for Making More Money
In order to make money with email marketing, you need to create content that compels your readers to take action. Try these tips:
Include a strong call to action (CTA) in every email. Urge your readers to do something, such as visit your website, download a white paper, or buy a product.
Make sure your email content is relevant to your readers. Send them information that they will find useful and interesting, not just a sales pitch.
Include photos and videos in your email content to help capture your reader's attention.
Make sure your emails are mobile-friendly. More than half of all emails are now opened on mobile devices.
Include a link to your email list signup page in all of your marketing materials so that you have an easy way for people to subscribe.
Include links back to your website or landing pages where subscribers can learn more about the products and services that interest them most.
Email is one of the oldest form of marketing which isn't going anywhere anytime soon, as it still holds its own against social media with higher ROI values by up to three times! If done right, email can be used as a great way to interact with customers on personal level building brand awareness and loyalty while earning money through selling ad space, affiliate promoting or lead generation (both free trial downloads or subscription). You just need create content that compels and converts your readers into leads or customers!