Despite the fact that email marketing has the highest return on investment of any digital marketing strategy, that doesn’t mean you know how to use it effectively. Spamming your customers and clients is not a good idea.
In this guide, we’ll look at what email marketing is and how it fits into your overall strategy. We’ll also provide some take-home examples that you can apply to your own company.
Finally, you’ll figure out how to make the enormous profits that everyone else seems to be making. Is this something you’d be interested in?
The term “email marketing” is defined as “the act of sending Email campaign to email subscribers.
Let’s define email marketing before we look at some examples of how to make money with it.
Email marketing, as you might expect, has a simple definition (the clue is in the name), as well as a more nuanced one.
An email marketing campaign, at its most basic level, is the practise of sending emails to customers in the hopes of increasing sales. The format has been around for more than a quarter-century and continues to be one of the most effective ways to develop a brand.
The method’s success can be attributed in part to its overtly consensual nature. Customers give you permission to send them emails when they sign up and give you their email address.
You aren’t “spamming” them in the traditional sense as a result. Instead, you’re sending them correspondence that they requested specifically. You’re giving them something worthwhile.
Make sure your email list is clean, and keep it that way with email protection tools like SPF and a DMARC monitoring service.
Email marketing is available in a variety of formats. Some businesses use a “newsletter” to keep their customers and clients informed about the latest industry developments.
Non-profits, professional service firms, and consultancies are the most common organisations that do this. It’s a way of reminding customers that they’re still around and that they should use them when the time comes.
Retailers employ a slightly different approach to email marketing, sending links to products that they believe the user will be interested in. Customers are typically directed to sales pages where they can browse products and add them to their carts.
Some emails are in the form of a promotion or a special offer. One of these can be developed by any company, but it will eat into your profits.
As a result, the “how” is more important than the “what” when it comes to email marketing. Anyone can send thousands of unsolicited emails.
Successful businesses, on the other hand, understand that the best way to monetize email marketing is for people to voluntarily give their email addresses. That’s a sure sign that you’ll be able to assist them in some way.
What Are the Benefits of Email Marketing for Making Money?
Making money with email marketing is easier than it appears, but there is a method to follow.
If you don’t follow the guidelines we’ve laid out below, you’ll have a hard time gaining traction. When you’re stuck in a rut, it’s not fun. You’re squandering business opportunities and squandering prospects.
When it comes to email marketing, you must change your mindset.
It isn’t about making money. It’s all about persuading people to buy from you, which starts with building a list.
Although this statement appears to say the same thing twice, there is a distinction.
When you sell, you’re attempting to persuade someone who is sceptical to buy from you. When you persuade someone to buy from you, however, you’re planting a seed in their minds, and it’s up to them to see it grow. It makes me think of the film Inception.
Almost always, the latter strategy is more successful. Customers are given the impression that they are in control of their purchasing habits and are initiating the transaction. It gives them a sense of control, and as a result, their resistance is overcome.
It’s simple psychology, but it’s effective. You should also do it in your email marketing, with an automation workflow to help you optimise it.
It should be your primary goal to elicit desire and provide value. Allow the customer to put pressure on themselves to buy something. You don’t have to be in charge of that part of the process. You’re not going to be able to do it.
Before we get into the examples, remember that there is one golden rule in email marketing: your correspondence must be relevant.
College students do not require accounting services. Prime Angus beef steak is not appealing to vegans. Vacations on jet skis in the sun are useless for the elderly. You get what I’m saying.
Maintain an uncomplicated approach. Make sure it’s up to date.
So, now that you know that, how can you make money with email marketing? You’ll be blown away by the variety of options available.
Make a thank-you page with a special offer on it.
Thank you pages are a hot topic in email marketing. Customers are directed to these pages after providing their name and email address.
Previously, a thank you page would simply say “thank you” and include a link to your home page.
On the other hand, most marketers now see them as an opportunity. Remember that right after they sign up for your email marketing list, users are most interested in what you have to offer. This is your opportunity to make money.
A great thank you page’s goal is to get people to take the next step.
This is what Hubspot does:
It’s worth noting that the firm employs an unusual strategy. It makes no attempt to guide the customer through the sales process. Instead, it takes advantage of the opportunity to raise awareness about what it does by making inviting a friend as simple as possible.
This strategy makes sense when you think about it. Users are much more likely to read an email from a friend than an email from a random company on the internet, according to Hubspot’s marketing experts. It’s a smart move to get people to sign up to do their email marketing for them.
That’s fantastic for Hubspot, but what does it mean for retailers?
Take a look at this example from NatureBox, a company that aims to make healthy eating as simple as possible for its customers.
You’ll be presented with an offer you can’t refuse when you sign up for NatureBox services: a 50% discount on your next snack box. Slashing the price this low is an excellent way to persuade customers who are undecided to buy.
Promo code distribution, on the other hand, is a risk. You don’t want existing users to share them with others by posting them on forums. Only those who provide their email addresses should be eligible for the benefits.
As a result, software like Constant Contact can track coupons and assign them to specific users. People must provide their email addresses before they can use the service.
While selling products, add value to them.
Many of you will work as affiliate marketers for retailers, sending out marketing messages on their behalf. Some of you, on the other hand, will have items to sell.
Retailers used to send out email marketing messages that were essentially scaled-down versions of their product pages.
That, however, was not the best strategy.
As a result, many retailers have improved their email interactions by including added value elements.
Take a look at this example from ENVE, a manufacturer of mountain bike wheels.
It’s important to note that they aren’t trying to sell anything. They’re instead trying to persuade customers to personalise their wheels. They don’t even mention the price (which is high, by the way). They’re simply encouraging people to experiment and think outside the box.
Take note of how this strategy connects to the previous section’s discussion of persuading customers to buy from you. ENVE is simply providing the tools for people to create their own custom decals.
That process, on the other hand, triggers a chain reaction in their heads, activating desire – exactly what you want. Many people like the idea of having a personalised bicycle. It’s incredible!
Another company that organises competitions in which lucky participants can win luxury automobiles is Best of the Best.
Take a look at what’s going on here once more. Playing costs “only” £2.45. You also get a link to a page that tells you everything you need to know about your object of desire, which is exactly what petrolheads want.
Everything is once again relevant. Best of the Best sends out emails to users offering them the chance to win the products they want. To entice people to sign up and play, they’re also providing a wealth of additional juicy information, videos, and social proof. The added value is significant for the niche.
Sell ad space in your email campaigns.
The vast majority of people with email lists are trying to sell their own products, which you can do as well. Keep in mind, however, that email correspondence has a limited amount of space. People are willing to pay money to be a part of it.
Consider the following SEMRush example:
SEMRush is a digital marketing tool provider for businesses looking to gain a competitive edge. It gives you information like how many links your competitors have to their sites and how many monthly visitors they get. It has a lot of advantages.
Because it is at the forefront of the digital marketing game, the company is a master at building email lists. It has a large one, of course. As a result, other outfits are bound to appear in its correspondence.
Take note of how SEMRush has made room for TrafficJet, a related service that helps customers increase conversions. They include it at the bottom of the email, explain the benefits in a single sentence, and then include some pretty cool clip art. Customers are directed to the shop’s home page after clicking the link, which is the next step in the conversion funnel.
Using Your Email List to Sell Affiliate Products
Retailers are well aware that a number of people have built sizable email lists, and they want to ride on their coattails.
Additionally, both they and you can use software to track the traffic generated by your campaigns. SendX, for instance, is email marketing software tailored to affiliate marketers. It can be used by both you and your affiliates, ensuring that remuneration is calculated fairly for all parties.
Affiliates can earn money by referring people who need help with email marketing to AWeber.
People simply refer clients to the service, which then pays them a monthly commission.
Other Websites Should Be Forwarded To Subscribers
Finally, some companies will pay you to send people who join your email list to their special offer pages.
Take a look at this email from Hexus, a website dedicated to electronics and gaming.
At the bottom of the competition page, there are links to native advertising from PC Specialist, a company that builds high-spec computers from the ground up.
Hexus provided email space for the vendor in addition to the competition offer, increasing brand exposure and encouraging readers to learn more about the company’s options.
Businesses frequently reward this type of approach with large sums of money. Customers may be directed to a landing page, a product page, or even native content about your products. It’s all worth it in the end.
So, what have we learned about email marketing as a result of our foray?
To begin with, we’ve learned that there is no such thing as a “one-size-fits-all” solution. You don’t even need a business to run an email marketing campaign. You only need a list; the value is contained within the list.
Second, we’ve discussed how critical it is to use the appropriate software. You’ll need something that will provide you with the necessary tools while also demonstrating to your affiliates that you are the one driving sales. Finally, we’ve seen the importance of adding value. In marketing emails, there should be plenty of user-friendly content. It isn’t a matter of persuasion. The goal of the game is to plant the idea that they should buy from you in their heads.
Send follow-up emails, last but not least! Despite the fact that they have high response rates, many marketers overlook them.