An email list can be a very important asset and if you act
cleverly, you can monetize it in a number of ways. Building an email does take
time but once you do it, the benefits are innumerable. Here are some strategies
to make money with your email list.
- Select a Niche
You can not become a jack of all trades to
succeed in the email game. You need to pinpoint the target audience you mean to
reach and then stick to it. Select a niche, collect email addresses of people
with relevant interests/inclinations and target your emails on them.
If you need to make money with emails and want to get the maximum benefit of your email list, you can do that by developing the trust of people in your email list. Don’t just write emails to market products or sell services. Write routine emails that are interesting and engaging for your target audience and include promotion for products and services in them every now and then but not in every email. To become a trustworthy name in the field, it is important to endorse/market only the products you know are actually good and deliver what they promise.
- Rent Out or Sale your email list
Email lists are not only an intellectual
property, they are a tangible asset and can bring you money. If you have an
email list that is working well for a niche, you can sell it or rent it to
people on pretty good rates.
- Paid subscription for premium content
If people can spend money to buy New York
Times or The Vogue, they can pay to read your newsletter too. Create a name for
your service and win the interest of the readers. Once you start getting a
positive response from your email list, you can offer an upgrade to emails that
have the premium content and have no marketing messages. People who like the
information you provide will most likely be willing to pay you the subscription
fee you charge.
A major cause of concern for online
businesses is cart abandonment. People select things to buy but just before
checkout, they leave the cart and leave. This can be due to a number of issues
like payment difficulty, shipping charges and many more. You can assist
ecommerce websites by sending emails to people who have abandoned their cart to
retarget them and try if they buy the products. If they do, you’ll get your cut.
Email Lists and Affiliate marketing
Affiliate marketing is one of the most rewarding ways to earn money utilizing an email list. The affiliate marketing industry is worth more that $12 billion and is growing on a fast pace. An average of 29.4% people open affiliate marketing emails and 5-7 percent of them make a purchase via the link provided in the affiliate marketing email. You can make handsome amounts of money if you do affiliate marketing the right way using emails.
Growing an email list can increase the monetary benefits you get from your email list. Simple math tells us that more email addresses you target, more would be the sales and more would you earn in commission. However, just adding random emails to your list will do no good. You need to pinpoint the people you need to target and collect only the email addresses belonging to the people interested in your niche. You can grow your email list by asking people to subscribe on your website or by purchasing niche specific email list from someone.
The Bottom Line:
Affiliate marketing and a number of other ways are there to
make money with an email list. Building an email list is a time-taking job and
buying them might burn a hole in your pocket but the benefits you’ll get from
it will outdo the expenditures/effort you put in it.