Emails are one of the most used means of communication in today’s society. Whether you’re a business owner trying to stay afloat or just someone who wants to find new ways of increasing their revenue, emails are probably one of your best and easiest ways of finding new customers. According to statistics, more than 300 billion emails are sent daily, making it no surprise that online businesses have made a lot of money by using email lists to sell their products and services.
And if you’re looking for ways to make some extra cash, there’s even more reason why you should be sending emails. Email marketing is one of the most cost-effective and efficient tools to drive new customer acquisition, increase customer retention and expand brand awareness. According to Statista, global spending on email marketing totaled $11 billion. But how can you maximize your email list and tap into these lucrative markets? If you have an email list, there are several strategic ways you can use it to make money. In this article, we’ll explore eight of the most effective methods and provide actionable steps you can take to implement them.
1. Sell products directly through your emails
Selling products via email is one of the most effective and profitable ways to make money. You can sell millions of products or services daily with your list. However, you have to know how to do it well. After all, it’s much easier to sell things through email than via a display ad or traditional marketing. That’s why the first thing you should do is ensure you know how to sell. You need to understand your product or service and how it relates to your customers. Are they likely to be interested in it? Is there a demand for it? And if so, what information can you provide relevant to the product that would compel someone to buy?
Here are some products you can sell via email:
- A membership program: One of the most effective ways to sell products is to offer a subscription. This could be a monthly membership or anything else related to your business. Each member will pay you some amount of dollars, and in return, they’ll get access to a group of resources specific to your product or service.
- Consulting services: Another great way to sell products through email is by offering consulting services related to your niche. If you’re an expert in a particular field, you could offer your time to advise others or develop a product for them. Once it’s developed, they’ll pay the fees to implement it.
- A physical product: If you run an e-commerce store selling physical products like t-shirts or vapes, you can email these items.
Tips for Selling Products Through Email Lists
- Segment your email list based on subscriber preferences and purchase history to ensure you send the most relevant offers.
- Use attention-grabbing subject lines and compelling copy to increase open and click-through rates.
- Include high-quality product images and clear calls-to-action (CTAs) in your emails to encourage conversions.
- Offer discounts so customers can buy your product or service at a discount.
- Bundle products or services that people might need together in one order to save money.
2. Sell affiliate products
An affiliate program is when anyone gets a cut of the sale if they refer another person to a product or service and that person makes a purchase. You can use your email list to promote products to your subscribers and get a commission for each sale. You’ll earn a commission for every sale through your unique affiliate link. You don’t always have to use affiliate links; you can send traffic directly to the merchant’s website or place affiliate links manually in your content.
- Create an affiliate program. Research and choose affiliate products that align with your audience’s interests and needs.
- Set up your affiliate links. You can use one of the various systems that link back to your website, including Amazon Associate, eBay, or ShareASale. You can also manually insert affiliate code in any content on your site.
- Set up a landing page. The landing page should contain all the affiliate links and a short description of what they’re promoting.
3. Offer a paid newsletter
A paid newsletter is one of the most effective ways to make money using your email list. It has higher conversion rates than other forms of email marketing, and it can convert subscribers into buyers. If you have a product or service relevant to your audience, offering a paid newsletter is an excellent way to get customers for your business. Customers will learn about new products and services and get exclusive discounts from you through this newsletter.
Many businesses offer paid newsletters, and they can be incredibly effective. However, you need to do it right. Your content must be valuable and consistent, or your customers won’t sign up for your newsletter.
Ways to use a paid newsletter to attract customers
- Promote new products: Customers love being the first to try new things. By giving them a sneak peek into new products or services, you can get them hooked on what you have and encourage them to buy.
- Sign-up subscribers: If you build your subscriber list, you can sign up new customers by emailing your paid subscribers directly.
- Offer discounts: A discount is another great way to get customers excited about purchases through a newsletter. Once they’ve purchased something and gotten the discount, it’s easy to convert customers by sending more offers.
4. Seek email sponsorships
Email sponsorships can monetize your email list by partnering with businesses or brands that want to promote their products or services to your subscribers. You’ll promote the product or service throughout your email list, and the sponsor will pay you a commission each time they make a sale.
In short, you get paid whenever anyone purchases products referenced in your content. And even better, it’s easy to do. All you need is an audience that trusts you to send them valuable information and an email system to sell products.
You can do an easy email sponsorship if you have an email list. Here’s how this works:
- Understand your audience: Before seeking email sponsorships, it’s important to understand your audience deeply. Know their demographics, interests, and needs. This will help you attract sponsors that align with your audience’s interests.
- Find sponsors and products. Look for sponsors with a relevant product or service, ideally related to your niche. Check out social media and forums related to your niche to find interested companies and products.
- Get approval from the sponsor. Once you’ve found a sponsor, contact them to see if they approve email sponsorships.
- Create an email sponsorship page. An email sponsorship page is a landing page that includes all the information about your product or service. It should include images of the product, screenshots of success stories and reviews, and links to where customers can purchase it.
5. Give away digital products
Digital products include digital photos, PDFs, eBooks, and other downloadable items. They can be sold individually or bundled with other items to drive sales.
What are the benefits of offering digital products to your email list?
The advantage of giving away free digital products is that you can build your email subscriber list simultaneously (without paying for advertising). Additionally, free products generate more engagement and interest. This means you’re more likely to convert emails into customers. Once your audience is interested in a digital product, they’re willing to pay for it. So, if you offer a digital product that’s relevant to them, they’ll be willing to pay for it.
- Create a digital product: Using tools like Canva to create a book cover or eBook design. You can use Google Slides to create digital presentations and many other free or inexpensive tools to create your eBooks, PDFs, and other digital products.
- Upsell your other products or services: Once people have downloaded your digital product, you can upsell your other products or services that provide additional value. This could include eBooks, courses, or coaching sessions.
6. Create Autoresponder Series
An autoresponder series is a series of pre-written emails sent automatically to subscribers at predetermined intervals. This powerful way to monetize your email list is by building relationships with your subscribers and promoting your products or services. Subscribers will appreciate the personalization and value you provide them, and they’ll be more likely to purchase from you in the future. The emails themselves don’t sell products directly but make the subscriber click on a link that will take them to a landing page where they can purchase products.
Some of the benefits of the autoresponder series are;
- Build trust and credibility with your subscribers: You send similar emails to everyone you want to build relationships with. Your subscribers will trust that you’re not spamming them.
- Encourage activity: By encouraging activity, you’ll increase the likelihood that the subscriber will purchase from you. Encouraging people to buy from your or another website is a winning strategy.
- Create a sequence of emails: Write a sequence tailored to your goals and target audience. Ensure the content is engaging, informative, and valuable to your subscribers.
- Set your timing and frequency: Decide on the timing and frequency of your autoresponder series. You can send emails daily, weekly, or at other intervals. Ensure the timing and frequency align with your goals and subscribers’ preferences.
- Include calls-to-action: Include calls-to-action (CTAs) in your emails to encourage subscribers to take action. This could include signing up for a webinar, downloading a free resource, or purchasing a product.
7. Sell Ad Space
Another way to monetize your email list is by selling ad space to businesses interested in reaching your audience. This can be a great way to generate passive income while providing value to your subscribers by introducing them to relevant products or services. The only way to sell ad space is through a display ad. Affiliate programs typically use display ads on their website, including banners and other promotional content.
You can also earn money by sending clicks to advertisements. The person with the advertisement will pay you a small fee whenever you send an interested party to their site through your link.
Steps to help you sell ad space:
- Create a media kit: Create a media kit that includes information about your email list, such as the number of subscribers, open rates, click-through rates, and demographics. Ensure the media kit is visually appealing and includes social proof, such as testimonials from satisfied advertisers.
- Set your pricing: Set your pricing based on the value you provide to advertisers and the size of your email list. You can charge a flat rate, cost-per-impression (CPI), or cost-per-click (CPC) model.
- Create ads that inform your subscribers about your products and services. Include images, screenshots, and social proof. Add calls-to-action that encourage people to take action, such as signing up for a free trial, downloading a free report, or visiting the website.
- Track and analyze results: Track the performance of the ads and provide regular reports to advertisers. Use data and analytics to optimize the performance of the ads and improve the results for both parties.
8. Host a Webinar
A webinar is a live virtual event that people can attend from their computers. Instead of sending emails or posting on social media to promote your products or services, you can host a webinar to educate your audience and generate interest in your products. This method is perfect for anyone who produces content that educates people, such as productivity coaches, fitness trainers, life coaches, etc.
You can either use a webinar to:
- Promote your products or services.
- Charge people to attend the webinar.
While webinars for free are great, most people prefer to attend a webinar that offers value, even if they’ll have to pay for it.
Here are some tips to help you host a successful webinar:
- Choose a topic your audience is interested in: Look for topics your audience is likely interested in based on their demographics, interests, and behaviors.
- Promote your webinar to your email list: Send emails promoting your webinar and highlighting the benefits of attending.
- Create a value proposition: Your value proposition serves as the main goal for attendees of your webinar.
- Host the webinar: Use a platform like Zoom or GoToWebinar to host the webinar and provide valuable content relevant to your audience.
- Follow up with a series of emails: Send emails after the webinar to thank people for attending, provide a webinar recording, and promote your products or services.
Email list monetization is a powerful way to generate passive income while building a profitable business. There are thousands of ways to monetize your email list, so you don’t have to choose just one. Consider using these methods to generate additional revenue for your business and help you reach your goals. The key is understanding your audience’s interests and needs and creating valuable, engaging content that aligns with those interests. By implementing these eight methods, you can generate revenue while building stronger relationships with your subscribers. Remember to test and refine your strategies over time to maximize your results.