Some people are making a fortune with their email list. It can be in the form of newsletters, white papers, e-books, or any other for-profit endeavor. Having a strong and growing list of subscribers is the foundation of making money on the Internet.
Email List building is the key to success in online business. In fact, the list is one of your best assets. Making money with an email list may sound straightforward.
Yet, it’s challenging when you first start. You need to gather subscribers and how to provide them value in a way they will opt-in and stay engaged with your updates.
Ever wanted to create an email list to promote your business but not sure how to go about it? In this post, you’ll learn 7 effective strategies on how to make money with an email list.
What is an email list?
An email list is a group of emails (addresses) of people who signed up to receive messages from you through email.
Marketing with an email list is one of the easiest and most effective ways to advertise promoting products or affiliate offers.
So, if you want to earn some money from your website, creating an email list is an excellent way to do it.
1. Host a Webinar
You can’t start a list without gathering prospects. In fact, you may already have some interested followers you can add to your email list. You just need to convince them to join by providing a free gift in exchange for their contact information.
A webinar is a perfect way to do this. With a paid and hosted webinar, you can generate six figures without making any money by selling merchandise or your product.
Hosting a webinar allows you to leverage all of your contacts to get more people to join your list. It’s an online seminar that people can attend at any time.
It’s also interactive, so you can include polls and other tools to make people feel even more involved. The ultimate goal of this strategy is to entice the leads on your email list to visit your offer and pay for the product or service you are offering.
Learn more: How to make money with a webinar.
2. Create a paid subscription model for premium content
This is another easy way to make good money from your email list, and it doesn’t even cost you anything to implement. Email list building is certainly a big part of the blogosphere nowadays. In my opinion, it is one of the best tools for increasing traffic and visibility on the internet.
Having a set of email subscribers is a great way to reach out to new prospects at almost zero cost. If you’re an experienced personality in your niche, you already have an audience. You might wonder how you can charge people for something that they already get for free – email updates.
But that doesn’t mean there aren’t ways to create premium content for those who want to pay. There are many ways to make money online. But one of the simplest is to build an email list of people who want to hear from you regularly and then send them your ideas, products or services.
It’s a win for everyone: you get customers and they get relevant information — that’s why it’s so popular.
3. Affiliate marketing
The first thing people would naturally think about when they create an email list is how to make money off it. A similar concept holds true in affiliate marketing as well. You don’t need your own goods to promote this service; you can sell someone else’s product.
This is known as affiliate marketing. It is perfect for the job. You sell something and get a fee if anyone buys it from you. An email list may be used for a variety of purposes, but affiliate marketing is profitable for many.
Affiliate marketing is a good way to generate additional income. If you don’t know what it is, affiliate marketing is a great way to make extra money by promoting someone else’s products or services.
Many businesses are paying you good money simply for any new customer or customer lead you get for them. If you want to get things done at this rate, you need an email list.
Although it can sound like spam to others, email lists can be a great way to advertise to specific demographics. Good messaging combined with a well-chosen audience gets results.
Learn more: How to make money with affiliate marketing.
4. Sell your own product
It is easy to make money off an email list and there are many ways to do so. The most commonly used way to generate money is by selling your own product (whether you design it yourself or by outsourcing the work).
What can you sell? Sell your own product! Yeah, I know it sounds scary. But if you are not happy with affiliate marketing, your own product could be a great alternative option that brings in more money and provides you more freedom.
If you think selling your own product isn’t feasible because you have no idea what to sell, just think about the skills and knowledge you possess that others might need.
On one hand, this complements your email marketing efforts. On the other hand, it allows you to make money at no extra cost (if you’re selling an information product or a digital product).
5. Create a Tripwire
A tripwire is an item that you give away for free, to get people’s email address. The purpose of a Tripwire is it becomes the bait which lures your prospects into giving you their contact information.
The main concept behind the tripwire offer is: if you give something valuable away for free, there are certain customers that will make the decision to “pull the trigger” and buy the paid product.
Give your tripwire away to your targeted audience whilst telling them why they need it. Then send them weekly emails about your business, giving them more reasons to sign up and purchase from you.
What’s more, tripwires help separate you from your competition by providing additional, inexpensive products or services that your fans may also like.
Some email list owners use their list audience to sell advertising space. They write ads and sell the ad space to other advertisers. It’s a less aggressive way of making money with your email list.
There are a few things to keep in mind when selling ads in your email newsletter. Your readers should not feel like they are being hit from all sides with paid ads. It’s easy to do, but it can lead to an unsubscribed list.
One way to prevent this from happening is by placing ads strategically throughout the newsletter. Use different kinds of advertisements in each email you send – text link ads, graphic image ads, video ads, etc. This will give your readers variety and make them more likely to click on an ad if they see one that interests them.
7. Rent or sell your email list
I know some people will think I’m joking about suggesting this but yes, you can rent or sell your email list. Email marketing can be a lot of work. It is time-consuming to maintain your list and sending out newsletters that people are actually interested in and want to read takes time and effort.
If you’re struggling to grow your email list of subscribers, it might be worth it to look into renting or selling the list you have already built. Yet, before you rent out your email list, make sure you have permission before selling someone else’s email address.
The permission should be in writing (e-mail), meaning that they have agreed on it and understood the consequences.
Why you might need an email list
Email is personal
Email is the most cost-effective way to keep in touch with your customers. It lets the recipient feel like they’re on top of the list.
Regardless of how lengthy it takes to acquire subscribers, creating a subscriber list is critical in increasing your blog.
The list gives you many benefits, many of which lead to thousands of thriving small businesses.
Email list builds trust
Email is the best way to build trust between you and your readers. With an email subscription, you have a direct line to the people who signed up for it.
You can send them exclusive information, offers and even promote your products and services. It gives you another way of communicating with your customers.
Get messages across to customers easily
Email marketing is a cost-effective way to reach out to targeted markets. It also helps you in getting business communication with the prospects.
Customers and prospects must be aware of your offerings and services through the emails you send them regularly.
Make more money
If you are running a business and trying to get more customers aside from your retail or service, then an email list is essential.
Your email subscribers are people with who you have likely built a relationship with so they would trust you on what to purchase next. So, if you are a marketer then having an email list is the next step to making money.
When in my business growth should I start building your email list?
The earlier the better. The sooner you build your email list, the easier it is to generate leads and start making more money.
I would recommend starting email marketing before you even have a finished product and before your business has grown to any significant scale.
In the early stages of business growth, you have a big opportunity to build a strong email list because people are just getting to know you and trust you.
What is a good email list size?
You need about 1,000 people to have a good email size. Nonetheless, the size of an email list is not the most important metric to look at.
The true value of an email list lies in how many engaged subscribers you have who take action on your emails. After all, you want to make money from your email list, not just have a big one.
Is it legal to sell email lists?
YES. As of the CAN-SPAM Act, it is entirely legal to sell email lists if you abide by all local and national laws. One might deduce that selling email addresses is indeed legal and ethical, but it’s not legal to do it in certain countries.
The problem with email lists is that spammers sometimes buy these lists to send junk emails.
So, if the act of visiting your website and providing you with their email address is a free visit, then I see no harm in doing this if you intend on using it for marketing purposes and not sending them spam emails.
What is email list building?
Email list building means that you are creating a database of subscribers, and getting them to opt-in to your email. The reason why you opt people into your email is so that you can send them emails whenever you want.
For example, when you have information to sell and want to promote it to your subscribers. If you have a newsletter, people can subscribe to your weekly or monthly updates.
How much can you make by email marketing?
So much money can be made through email marketing if you’re smart about it. Email marketers earn about $5,000 per month.
Email marketing is one of the best ways to make money online from the comfort of your home. When done right, building an email list gives you a captive audience that you can send any information of your choice on a regular basis.
Furthermore, it gives you a method to market directly to your audience. It is a great way to keep in contact with your target audience and build trust and authority by continually sending them valuable information.
Yet, there is no shortcut that will instantly turn you into a star. You’ll need to do some hard work before this will be effective. The tips here may be enough to jump-start your email marketing efforts. All the best!