Last Updated on October 7, 2021
As you continue to grow your email list, you will be faced with many questions. Among the most important is: what is the best way to monetize your email list?
There is no right or wrong answer to this question. There are multiple ways to monetize your list and realize the potential you have been dreaming of for so long, it’s just what works best for your brand.
Most people find that approximately half of their email list is active (opening or clicking on emails). This may not be a big number when dealing with a small list, but as it grows, you will find yourself in position to monetize your audience in a number of ways.
You will never know how to best monetize your email list until you experiment with a variety of strategies. Below are five that deserve your attention:
1. Banner Advertising
It may sound “old school.” It may sound like something that will never work. However, this continues to be a great way to monetize your email list.
If you have a targeted list, if you can provide advertisers with a solid return on investment, you can expect this monetization technique to be among the most profitable. Be sure that your ads are not too spammy and would be something that your users would want and benefit from.
2. Affiliate Marketing
You don’t want to turn every email into an affiliate marketing blast, but there is nothing wrong with adding an affiliate link or two when it makes sense. Make sure that it is something that you personally trust & know that your customers could relate to and want to see.
The success you achieve is based largely on the size of your list, trust factor, and of course, the type of offer.
3. Paid Subscription Model
There is nothing wrong with sharing information free of cost. Even so, you have the right to charge for premium content if this fits your business strategy.
A paid subscription model can quickly yield big time results. Small amounts, such as $7/month, can quickly add up if you have enough subscribers. Be sure that you are sharing content that is very useful. I would recommend having a large following to your FREE email list and then add a premium one as additional content.
4. Create a Product, Sell a Service
Affiliate marketing is great, but you only get a “slice of the pie” when a sale is made. Why not create your own product or service, and then sell it to your list as you see fit?
Some people are already doing this. Others, however, such as bloggers, don’t have anything to sell. Instead, they are simply providing free information.
If you have the trust of your audience, you may be surprised at how well your own product or service will sell. Don’t just continually send information on your product, add it in sometimes as an additional to useful information. If you make every email a sales pitch, you are going to lose many of your subscribers.
5. Send Readers to Your Website or Blog
Don’t be shy about linking back to your website or blog, as this gives you another chance for the reader to take action.
For example, an email discussing the benefits of content marketing could link to a blog post that describes this strategy in great detail. Furthermore, it may lead the person to a post in which they can make a purchase or click on an advertisement. If nothing else, it goes a long way in boosting your traffic numbers, which will have a positive impact on your company as a whole.
Do you have any other suggestions for monetizing an email list?
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