Many people work hard to build quality lists to profit off of, yet they struggle to actually profit from those lists once built.
There are dozens of ways digital marketers monetize these lists, but not all of these ways are created equally. Some methods are more profitable than others.
Before you read below, I highly recommend that you register for this week's webinar, where we'll show you the easiest way to build a highly profitable email list: click here to register now.
Here are 4 of the more effective ways to make a profit off of your email list.
#1: Become an Affiliate Marketer
One of the reasons many marketers struggle to profit off of their email list is because they can’t come up with a product to sell. They think that they must dream up a product of their own to pitch to their audience when in reality there is no need to come up with your own product to sell.
Many businesses move their products by getting other people, affiliates, to sell their products for them. These affiliates get a commission for every sale made.
Find one of these affiliate offers and sell them to your list if you don’t have an offer of your own. There are marketers running 8-figure businesses with just affiliate offers.
There are all kinds of affiliate offers. You can sell anything you can think of. Beauty products, B2B courses, VPN services, pet supplies, books, etc.
There are affiliate marketplaces online for you to find different affiliate opportunities, here are some of my favorites:
#2: Create a Paid Newsletter
Some of the most valuable online businesses nowadays are based upon recurring payment models. Customers pay a fee every month for access to whatever the business is providing.
You can craft an email newsletter based around this business model. Readers pay $5/month (or whatever rate you feel is appropriate) to get access to your newsletter.
There are thousands of marketers already doing this and you can do it too.
Just find a subject that you’re comfortably knowledgeable in and start writing newsletters that provide value in this area.
If you’re not comfortable in your ability to deliver value through your newsletter, then just outsource your newsletters. You can find talented (and affordable) writers on Fiverr who would love to help you write your newsletter.
This business model could be very lucrative for you.
Let’s do some quick math on just how profitable this could be.
If your newsletter is $5 per month (which is on the cheaper side, these newsletters average out around $10 a month) and you get just 100 subscribers, you’re looking at $500 a month in pretty passive income. All you’re doing is drafting up a few emails a month.
Now what happens when your newsletter scales to 500 subscribers? 1000? You’re looking at $2,500 and $5,000 a month for writing a few emails.
#3: Segment Your Way to the Bank
Different segments of your list react to your emails differently. The 57 year old mother of 3 living in Florida won’t respond to you in the exact same way a 19 year old college student will.
Blasting the same email out to all of your subscribers will yield you less profit than if you segmented your list into different demographics and sent each of these segments targeted email campaigns for whatever you’re promoting.
Many companies find incredible increases in profitability once they turn their one-size-fits-all email campaigns into segmented email campaigns that send specialized, targeted promo to each area of the list.
Segmenting is an essential aspect of running a profitable email list. Any email marketing platform without segment capability isn’t worth it, and if yours doesn’t allow you to segment you should find a new platform.
One effective way to segment your list is through pixels. These are little pieces of code you can embed into your website that allows you to track user behavior. With pixels, you can interact with people depending on how they use your site.
If somebody looked at a product but never added to cart, you can send a specialized email to that person prompting them to return. There are all kinds of scenarios where segmented pixel campaigns can improve the profitability of your email list.
#4: Run a Giveaway
One way to use your list for profit is by running a raffle-style giveaway of one of your products.
After the giveaway is over and done with, promote a special short-term sale where your audience can get the product for a significant discount.
This strategy, while simple, is very powerful.
By running the giveaway, your audience is primed for receiving the product. When they’re entered in, some part of them feels like they are going to win and they subconsciously place the winning prize under their possession.
When 99.999% of your list sees that they didn’t win, that sense of ownership isn’t going to just disappear.
In fact, they’ll feel like that product (which they never even owned) got ripped right out of their hands – as a result their demand for that product will be very high right after the giveaway is over.
That’s when you announce a flash sale.
The product that they so desperately want is now being offered at a large discount, prompting them to get it in droves.
Many businesses routinely run this specific campaign and makes thousands just by doing this.
Now that you've read the article, I highly recommend that you register for this week's webinar, where we'll show you the easiest way to build a highly profitable email list: click here to register now.