Email marketing is a proven strategy to grow a business. Marketers have used email to collect leads and monetize customer relationships for years. But it wasn’t until relatively recently that businesses started to adopt this strategy in order to make money
As the most popular email marketing platform, Gmail, reports that 80% of its users click on content that’s linked or sponsored by brands, that users consider valuable, and that encourages them to make a purchase or visit a website, it’s clear that email marketing is here to stay.
However, not everyone can rely on content brands fund to make money from email marketing. If you’re looking to make money from selling and managing email lists, you need to find a way to stand out from the crowd. Fortunately, you can.
In this guide, you’ll discover how to make money from email marketing by successfully following the steps outlined below. You’ll find a complete overview of the strategy, as well as a list of everything you need to get started, including tools that can help you along the way.
The Complete Email Marketing Strategy
When you’re building a business from the ground up, you have to consider every aspect of your marketing strategy, from how you’ll present your product to prospects, to how you’ll convert those prospects into paying customers.
For those looking to make money from email marketing, you’ll want to consider every phase of the strategy, from building a list, to capturing leads, to engaging with customers, and retaining them as paying customers.
Depending on your level of experience, you’ll have to decide how much effort you’re willing to put in to ensure that your strategy is solid and that you follow the best practices that will help you reach your goals. Do you want to dive into the strategy phase and take the reins yourself? Or are you looking for someone to help you bring your business idea to life?
Step 1: Build A List
The first step in making money from email marketing is to build a list. You can do this through a variety of means, but the most effective and reliable method is to acquire a list of email addresses, either through an opt-in offer (more on these types of offers later) or through a lead magnet (these are webpages, blogs posts, or other free resources that you’ve created to attract potential customers to your list).
Once you have a list, you can begin to market to them and build a relationship. The key thing to remember about a list is that it doesn’t happen overnight. It takes time to build credibility and trust with your audience. You have to prove yourself to them before they’ll even consider buying from you.
As a business owner, you’re in the ideal position to drive traffic to your website. What you need to do is convince people to join your list. Luckily for you, we’re going to suggest a free tool that can help you with just that.
One of the most popular email marketing tools is Emailer. By using this tool, you can easily create email campaigns that will grow your list and ultimately help you make money. When possible, you should always use a free tool to prototype your email campaigns before you invest in expensive software or hire a designer to build a custom template. Not only does it save you money, but free tools are normally reliable and have a minimal learning curve.
Step 2: Get Prospects To Join Your List
Now that you have a list, you can begin to market to them and drive traffic to your website. To do this, you’ll want to create and send out a series of email invites to join your list.
In general, users receive and click on links in their emails more than they do text-based content. That’s why you should always try and include a link in your email, even if it’s just for additional information about your product or service. You can do this by simply putting a link in each of your emails. However, if you have a bigger budget, you can take advantage of paid campaigns, which we’ll cover in a bit.
Another way to increase the click-through rate on your invite link is to make it “invisible” to the user while still conforming to email standards. What does that mean? Simply Google “invisible link” and you’ll see a variety of services that will make your invite link look like an ordinary link.
When someone clicks on your invite link, they’ll be taken to a special page that you’ve created just for them. This is where you’ll collect their personal information, such as name, email, and phone number, and you’ll store it in a database. When a user submits this information, they’re officially added to your list. You can then follow up with them to create consistency and trust before they make a purchase or take other action on your behalf.
Step 3: Measure The Results Of Your List Build (Optional)
Now that you have a list, you’ll want to track the results of your efforts. You can do this by using a tool like MailChimp, which we previously mentioned, or you can use a tool like Unsubscribe.me, which is free. When you use these tools, you can download the CSV file that contains all of your list data and analyze it yourself.
You can also contact the tool providers directly and ask them to give you access to your lists so that you can track the performance of your campaigns independently. For example, if you want to know how many individuals on your list have converted into paying customers, you can use the tool to access this information.
Step 4: Let The Growth Continue
Once you have a baseline of activity and you’ve begun to measure the results of your list building efforts, you can begin to iterate and improve your strategy based on what you’re learning.
You can continue to use the above tools to grow your list, capture leads, and follow up with new customers. If you want to learn more, you can also use SEO and content marketing to drive traffic to your site, which we’ll discuss in more detail below.
The Perfect Opt-in Offer
One of the best ways to attract potential customers to your list and ultimately make money from email marketing is to create an opt-in offer, which we’ll discuss in more detail below.
When a user opts in, they’re opting to receive marketing emails from you. As a business owner, you have the freedom to use whatever sales language you want in your opt-in offer, but you should always keep in mind that, as a marketing email, it needs to be concise yet compelling, and it should include a call-to-action (CTA).
What is a CTA? A CTA is something that you, the marketer, ask the customer to do, such as visit your site, make a purchase, or sign up for a mailing list. The key thing to remember about a CTA is that it should be relevant to the user and should serve a clear purpose. For example, if you’re selling a product that helps people manage their health, you might want to include a CTA that encourages them to visit your site for more information. Or if your product helps people create beautiful art, you could incorporate a call-to-action that encourages them to visit your blog to read an in-depth article about the craft of painting.
The important thing is to keep the CTA relevant to the persona of your ideal customer. You can also use your opt-in offer to promote a specific event or campaign that you’re participating in. For example, if you’re an ecommerce store owner who’s promoting a storewide sale, you could include an opt-in offer that provides visitors with a unique code that allows them to take advantage of the discount.
How To Make Money From Email Marketing: Quick Examples
Now that you understand the process of how to make money from email marketing, let’s examine a few real-world examples of how others have done this. Whether you want to implement this yourself or you have a client that’s interested in taking this route, these examples will help you understand the process.
Example 1: Selling A Web Design Project To A Target Audience
Designing a website is not cheap, especially when you consider all the variables, from website hosting to professional designers’ fees.
If you’re looking to make money from affiliate sales, you could try selling web design projects to entrepreneurs or businesses who are looking to dramatically change the look of their website. You can use your website to promote their new project and earn a commission on each sale.