Taking the time to build and grow your email list can be immensely rewarding in the long run. Not only do you have a direct link to your customers via their inboxes but with the right email marketing strategy you can increase and supplement your income every year.
Before you begin monetizing your list however, it’s important to build trust between your brand and your subscribers. If you want them to respond to your emails, you have to prove that you can offer them something of value every time you send them an email.
Tactics for monetizing your email list
Monetizing your list still means making your emails as relevant as possible if you want to see a good response rate, which means segmentation needs to play a leading role.
There are a number of highly effective ways to monetize your email list. We outline 6 top tactics below.
- Offer sponsored content. There are dozens of other brands out there that are looking to reach the same target audience as you do so why not get them to assist you with content in exchange for speaking to your subscribers. Any sponsored content still needs to add immense value and shouldn’t be an outright promotion of another brand.
- Sell strategically. Collecting subscriber data is invaluable. Once you start tracking online activity you gain a better understanding of the products and services that specific subscribers are interested in. You can also keep track of past purchases to gather this data. Once you start seeing a pattern you can be more strategic with your promotional emails and increase the chances of making more sales from the same customers.
- Include advertising. While you don’t want to clutter your emails with several annoying, flashing banner ads, adding one or two small banners won’t reduce the quality of your emails. Make sure that all advertisers offer products or services that are relevant to your audience and that their banners are well-designed.
- Give them an offer they can’t refuse. The moment a new subscriber joins your email list is one of the best times to sell to them. They’re indicating that they’re interested in hearing from you so why not offer them one of your products or services at a discounted rate right then and there. This limited offer paired with a great price will allow you to start converting new subscribers right away.
- Sign up for an affiliate program. There are a number of different brands that offer affiliate advertising programs. Identify one or two that would be relevant to your subscribers and run them in your emails and newsletters. All programs are different but generally every time someone clicks on a banner or converts, you get paid.
- Catch those cart abandonments. No e-commerce brand should let a potential sale slip by and using automated cart abandonment email campaigns is one way to stop this from happening.
Remember to keep growing and nurturing your email list to continue benefitting from a loyal subscriber base.