You could be looking for a new revenue stream without success but email marketing could be your holy grail.
A dozen emails you churn out daily or weekly have a huge potential of changing your financial situation. Many people have diversified their trade and now sell email and earn money just by the click of the send button. It is not complicated as you would think; it is no rocket science and it pays off handsomely as long as you do it right.
In this article, you will learn how to monetize email marketing and make it work without frustrations at all. At times, some people give up after getting no response in form of clicks which lead to a purchase. Worry not, here are great tips to get started:
1. Come up with something to sell
Having something to sell starts your journey to entrepreneurship. Sending emails is the avenue that market your wares. If you are stuck on what you can offer, remember that there are a lot of things you can sell or run a campaign for with the intent to sell them out.
For example, you can sell ebooks, recipes, guides on different things, health products such as those for weight loss among others. There is a lot to offer to clients. Before picking a product, research to establish its demand pattern. This helps you deal with market dynamics and manage your expectations too.
2. Market products by other people
If you do not have a personal product or service you can sell, do not fret; email marketing has a window that allows you to sell someone else’s product or service. You become an affiliate marketer for them and earn through commissions for every product that is purchased from your email clicks.
Affiliate marketing is smooth and easy but requires a high level of connection between your subscribers and the seller. The subscribers are, in this case, potential customers, who may purchase the product out of your referral. When you promote a product through your email list, you stand to earn some bucks as a commission if your subscribers end up purchasing the product.
A word of caution for an affiliate marketer is always to ensure that the product you are promoting is authentic lest you stand to lose your network of clients in your email list. Establish what those in your email list are interested in and pitch the product.
3. Focus on upselling
Upselling is a model used in sales and marketing whereby, a client buys more of an upgraded product from the initial premium on offer. Coupled with email marketing, upselling works wonders as the client has an option to purchase a highly-rated product from the initial one. Here’s an example. If your email marketing is premised on membership sale, a client can get the upgraded version of this in the form of an exclusive training or coaching session where only he/she and the trainer/coach are involved.
With such an arrangement, the client can ask more questions on a certain topic and get answer directly from the coach. This is the upgraded version of the client’s membership which they enjoy exclusivity to the best unlike in the first premium where they could not get the exclusivity.
4. Broker other products
What’s amazing about email marketing is that it opens your eyes and you discover what your subscribers like and dislike. If you are selling a specific product and discover that another product similar to the one you are promoting does well, you can sell it too.
All you have to do is customize messages about the new product which you think they would like. For example, if you are selling a fitness product, you could alert your client about a nutrition product on the offer. Chances are that they would buy it.
5. Acquire regular customer
A regular customer comes with a guarantee of repeat purchase. It is proof of brand loyalty and such a client can be kept close on your email list because they provide a steady stream of income for the venture.
Email marketing enhances a long-term business partnership with repeat customers. You can remind them via email about a certain product which you already know they like. On this line, it is good to give them a discount as a sign of appreciation. Discounts retain customers.
6. Design a shopping cart plan
In the 21st century, there are a lot of distractions that come with digital platforms. You can visit an e-commerce site and pick an item to buy then forget after adding it to your cart.
This is where email marketing comes in. Once you realize that a potential client added to their cart a product which they did not purchase, you can remind them through the shopping cart plan. The platform enables the sending out of emails reminding them of the specific product in persuasive but courteous language.
With such a strategy, you also build a solid customer base. No one hates the realization that company XY values them.
7. Look into automating email campaigns
Unsupervised email responses also known as autoresponders are a great avenue on how to make money with email marketing. They focus more on a new subscriber to the platform.
It is a good strategy for two reasons; it is time effective and easy. The automated email should be systematic. First, they welcome the new subscriber and make an introduction to what products are on offer. Already, the subscriber has an idea of what to expect. New subscribers have been found to have a higher engagement with email marketers as they discover their interests or likes are taken care of through products and services on offer.
8. Always follow-up
Breaking even in email marketing calls for your engagement with the subscriber. Sometimes, you send an email out talking about a certain product and get no feedback at all. Maybe the subscriber did not see it. A reminder is a good way to jog their memory.
This is where an autoresponder becomes important. It can make a follow-up like two days after the initial email being sent. This reminder is likely to trigger action from the other end.
The secret in earning from email marketing is fully dependent on the quality of the email you send out to your subscribers. With 100 in your email list, you can come up with great engagement and earn well. With a higher number of subscribers, you still can rake in more money with a healthy engagement.
The full potential on how to make money with email marketing is yet to be exploited fully. It is a goldmine that you could be sitting on and you never know if you can make it unless you give it a shot. Why not start now?