Making money via your email list is not as hard as it may seem. Build the list, nurture your subscribers with free, valuable content, and use a method below to start stacking cash…
1. Thank You Offer
The first place you could monetize your email list is at the very beginning on the opt-in or thank you page. Usually, people who subscribe are interested in your brand and what you have to offer.
Add snippets of your most popular product and links to its’ landing page. You can sweeten the deal for new subscribers by adding an additional (one-time only) offer.
Add testimonials and raving reviews from other subscribers or followers to help further convince the user to go through with the purchase.
After you’ve been emailing for a while, you will notice which offer campaigns are wildly popular and which ones are dead in the water. The best offers with the most traction don’t have to be completely rewritten.
Start your next sales email with an old, successful offer. People perk up at the sight of special promotions and discounts – especially if they missed the one in the past or didn’t have as much trust built up with your brand.
Pro Tip: Don’t overdo promotions. Nobody likes to be sold every day and it gives off a bad vibe.
3. Set The Tripwire
We’ve talked about a Tripwire offer in the past, but essentially, it is an affordable offer between $5-$50 that is pitched shortly after being exposed to your brand.
Tripwires are a textbook example of how to make money with email marketing. People who buy tripwires are 10x more likely to shop again and eventually buy your core offer (Digital Marketer).
People are more likely to purchase from you again than they are to become a customer in the first place. Once you’ve sealed the deal with an affordable but valuable offer, it’s likely they’ll consider your higher-priced future offers.
4. Would You Like Fries With That?
Up-selling is key in most major businesses. Notice how you can rarely order any type of food from anywhere without someone suggesting the larger size for a few pennies.
How can you use this in email campaigns?
- Bundle Deals – Offer multiple products for the price of one (as long as you still pull a decent profit).
- Discount Deals – Offer a secondary or tertiary product for a lower price if they commit to the first one.
It doesn’t matter what industry you’re in; if you’re selling something, there is the possibility for an upsell.
5. Deep Discount
Many people will contemplate your offers, but price points are a big deal. When a potential customer is trying to back out of a high-ticket item, try offering them a lower price with similar features (or discounts) to keep them from abandoning you altogether.
Many subscription- and memership-based businesses will offer a few months at a reduced price to keep people around – whether they actually use the service or not.
6. This Goes Well With That
Cross-selling is another powerful skill to add to the repertoire. Amazon reports that as much as 35% of its’ revenue is generated through cross-selling. Customers in a buying frame of mind won’t hesitate to add a relevant product/service to their cart.
You should carefully consider what you cross-sell because an irrelevant offer can make the potential customer rethink why/what they’re doing in the first place.
7. You Left Your Items!
Downloading an Abandoned Cart plugin helps you to optimize part of your sales funnel.
As a customer goes through the checkout process, they will most likely input their information, get to the sales page, and then exit the browser.
Why did they leave?
- Don’t trust you or your brand.
- Realized shipping costs were outrageous.
- Distracted by life.
- Only browsing for a possible solution.
- Weren’t offered their favorite payment method.
- Something was broken on the checkout page.
An automatic shopping cart recovery email can’t solve any of these problems (except maybe distractions), but it will bring them back to the page for reconsideration.
SmartPak Equine earns an average of $4.80 revenue per email and a 50% conversion rate among readers who click their recovery email.
8. Locked Premium Content
Are you an expert in your field with tons of hands-on experience and know-how?
Create access to premium content for paying subscribers. Only serve up your best stuff and ditch the ads completely for a premium feel.
You can write/record premium content on a private YouTube channel, a locked blog, or through a different email list.
Even small fees from $5-20 can add up to a lot of extra income long-term.
Pro Tip: To increase conversion rates, offer the first month for a heavily discounted rate!
9. Affiliate Marketing
There are so many brands and companies that will happily pay you 25-50% for helping them sell their products. Welcome to affiliate marketing!
You won’t have to create and sell your own products or services, but instead, sell someone else’s that are a good match for your audience and brand.
Affiliate marketing is a fairly simple process. You usually just need to sign-up on the brand’s platform or request a unique link to get started.
Pro Tip: Affiliate marketing is good short-term, but you don’t control the list! And the list is what pays the bills.
10. Ad Space Sales
A big email list, 2,500 emails or greater, can find advertisers to pay you for your efforts.
All you will have to do is add a couple lines reviewing a brand’s product or service with a link to their page.
The downside of ad space sales is it doesn’t really pay until you grow your email list to much larger proportions (10,000+ subscribers) for two reasons:
Hassle Factor: Most advertisers won’t bother with a small email list because it’s not worth their time to organize an ad with proper tracking for a handful of sales.
CPM (Cost Per Thousand Impressions): Most email advertisers will use “effective CPM” to decide how much they’ll pay for an ad, which is the count of how many people actually open the email.
11. For Rent
Renting or selling the emails you acquire isn’t the best option for monetizing your email list, but it can help you make a little cash. Many businesses are always on the lookout for email lists with legitimate subscribers to purchase (or rent).
Renting can be a good fit for you if you have a valuable audience and high-quality partners that pay well.
Beware: Renting/selling lists can lead to complains and unsubs, and before you even start thinking about it, you should read about the legal side of things.