Many of us dream of making money effortlessly, even while we’re asleep. This is what we call passive income. But how can you actually make this happen? One way of making money is through email marketing, where you can promote a business, sell products or services, and more. However, it’s not as easy as it once was.
Some people are making a lot of money through email marketing, while others are finding it hard to even get their emails into people’s inboxes. If you’re facing these challenges, keep reading to discover how to succeed in making money with email marketing!
What is email marketing
To start, open your Gmail account and head over to the “promotions” tab. Here, you’ll find a bunch of emails that are advertising various products and offers.
These products can be all sorts of things: software, services, or even physical items you can order and have delivered to your home.
Just about every company, if not every single one, uses this approach to get the word out about their products. They send emails to people to let them know about new things they’re offering, with the hope that those people might become customers. Pretty smart, right?
In simple terms, email marketing is a super effective way of sending emails to potential customers. Well-crafted marketing emails can turn people who are just curious into actual customers, and can even transform those who’ve bought from you once into loyal supporters.
Now, let’s dive deeper into how you can use email marketing to make money.
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How email marketing works?
To keep your audience interested, it’s essential to send them emails that matter and choose the right time to send them. If your emails aren’t useful or well-timed, someone else might win over your customers with more engaging content.
You can improve engagement through tactics like email segmentation, personalization, automation, and behavioral email marketing. These methods ensure you give your subscribers what they want when they want it. When you do this successfully, it’s likely to lead to more sales and higher revenue for your business.
Simplified explanation of how email marketing works:
- Building an Email List: The first step is to gather a list of email addresses from people who have shown interest in your business or content. This can be done through sign-up forms on your website, social media, or other marketing channels.
- Segmentation: Once you have a list, you can segment it based on various criteria like demographics, interests, or purchase history. This helps you send targeted and relevant emails to specific groups.
- Creating Email Content: You design and write the emails you want to send. These emails can take various forms, such as newsletters, promotional offers, product announcements, or educational content.
- Sending Emails: Using an email marketing platform, you send the emails to your segmented list. These platforms help you schedule emails, track delivery, and manage subscribers.
- Delivering Value: Your emails should provide value to your subscribers. This can be in the form of useful information, exclusive offers, or entertainment.
- Tracking and Analytics: Email marketing platforms provide data on how your emails are performing. You can see metrics like open rates (how many people opened your email), click-through rates (how many clicked on links in your email), and conversion rates (how many took the desired action, such as making a purchase).
- Optimization: Based on the data you collect, you can refine your email campaigns. For instance, if you notice that a certain type of email gets a higher click-through rate, you can send more of that content.
- Compliance: It’s essential to follow email marketing laws, such as obtaining consent before sending emails, providing an option to unsubscribe, and including your physical address in the email.
- Automation: As your email list grows, you can use automation to send personalized emails at specific times or triggered by certain actions (e.g., a welcome email when someone signs up).
- Conversion: Ultimately, the goal is to convert email subscribers into customers or loyal followers. This can be achieved by providing valuable content, nurturing leads, and offering compelling offers.
Can you actually make money with email marketing
Email marketing is a great way to make money. According to Statista,
In 2022, there were 4.258 billion email users, which is more than half of the world’s population. As of 2022, the latest reported number is nearly 4.26 billion.
Nearly 80% of Americans open their emails at least once every day, and around 62% of consumers prefer email as their main way of communication.
These numbers show that email marketing can be a profitable choice. So, why aren’t you benefiting from it like many others? There could be several reasons, but here are the common ones:
- You don’t have a specific list of email recipients.
- Your email list isn’t organized properly.
- You’re not personalizing your emails or you’re going too far with personalization.
- You’re not using email automation tools.
- Your emails are not getting delivered.
Most of these issues can be resolved by sticking to the basics of email marketing. When you do that, you’ll have a better chance of making money through email marketing!
Whether you’re new to email marketing or want to boost your current success, it’s a smart move right now. Email marketing offers numerous ways to make money for your business, and it’s as profitable as ever.
Ready to increase your earnings? Here are 9 easy methods you can try with your email marketing strategy today.
7 ways to make money with email marketing
There are various ways to earn money online, but in this guide, we’ll focus on the money-making potential of email marketing. Let’s get started with our list.
1- Sell Affiliate Products
One common way to make money with email marketing is by sharing affiliate products, but it’s important to do it the right way, not through spamming.
Instead of spamming, you send what we call “cold emails” to potential customers, also known as prospects. For example, if you want to promote an affiliate product like GetResponse for email marketing or Shopify for online store, you can send around 500 to 1,000 emails per day to attract people to where you’re promoting your affiliate links. It’s that straightforward.
However, make sure not to include the affiliate links directly in your email, as this is considered spam.
2- Selling or promoting your own product
Let’s talk about promoting your products and services through email marketing. Have you checked out our link shortening service, L-inked.com? We’ve written a detailed article about it that you can find here. Take a look!
Now, getting back to the main point. L-inked.com is one of the services that Digit Crafter offers. We let our subscribers know about this fantastic service by sending them emails.
So, one of the key strategies in your email marketing campaigns is to advertise your own products and services. We do the same with our online courses. We inform our subscribers about them through emails.
Now, you might be wondering, “Where do I get my email list?” That’s a great question. On our website, we have a small opt-in section where you can enter your email address to start receiving our free tips and tutorials. This is one way to build your email list.
We offer valuable content and advice to our subscribers through our mailing list. Additionally, we use this list to share our products and promotions with them.
You can do the same on your website to grow your email list. Just remember to consistently provide valuable content to your subscribers so that they eagerly open your emails.
3- Boost Your Fiverr Gigs
You’re probably familiar with Fiverr, an online platform for freelancers to offer their services.
If you have skills like email marketing, graphic design, or any other talent, you can use Fiverr to earn money.
Fiverr is the place to showcase your abilities to potential clients.
To attract more customers, send cold email marketing campaigns to prospects, letting them know about your Fiverr services. This will help you get more gig orders!
Now that we’ve covered three methods, let’s move on to the fourth one, which is a straightforward approach to mastering email marketing for making money.
4: Boost Your Email Marketing Income
This method doesn’t have a fancy name, so I’ll call it boost your email marketing income for simplicity.
Here’s the deal: We’re going to use two simple tricks in your everyday emails to make more money.
Take a look at the email signature example below:
You can see that we’ve added an automatic signature to our email responses.
In this signature, we’ve included links to our website, services, and affiliate products.
Now, go to your email settings and set this up. It’s really important.
You’re sending replies to people every day, so use this simple trick to drive traffic to your products!
You can use tracked links from L-inked.com to see how much free traffic you’re getting from these signatures.
The other trick is to set up automatic replies for anyone who emails you (if it suits your business, of course). In these replies, let people know that you’ll get back to them ASAP and suggest they check out your links while they wait for your response. It’s that simple!
5- Selling Your Subscribers’ List
Wait, we’re not talking about selling your email contacts – those are your precious contacts!
What we mean is selling ad space in your newsletter. Here’s how you can do it:
There’s a website called Udimi, designed for something called “solo ads.” Solo ads are a way of promoting stuff. You find someone willing to promote your link to their audience, and they share and endorse your link.
Now, here’s the clever part: You can be the one who gets links from people and shares them in your newsletter, then sells clicks to their links. It’s that straightforward.
Let’s say you have 5,000 subscribers who love reading your emails. You can easily provide 200 clicks for others. And guess what? You can sell those 200 clicks for over $150. Pretty cool, right?
So, create your solo ads profile, collect links from people, include them in your email campaigns, and start earning money.
6- Making Money with Newsletter Ads
Here’s the 6th way to earn through email marketing: by running ads in your newsletter.
You’ll notice two sections. The first part is for your usual newsletter content.
Now, take a look at the images under the Advertisement section that mention “This email is brought to you by Cloudways”. This is where you can offer ad space to anyone who wants to promote something.
It’s a bit like how websites use Google Adsense to display ads. But, unlike solo ads where you get paid per click, here you get a fixed amount of money just for placing the ad in your email. Clicks don’t matter.
This method is completely legitimate and is used by many websites, including Quora.
As an example, Quora lets you include your paid ad in their own newsletter when you advertise on their platform.
7- Earning Extra Money by Sending Subscribers to Other Websites
If you have a good relationship with your email contacts, there’s a clever way to make some extra cash, and it’s completely legal.
Many companies are willing to pay you for sending your subscribers to their website. Some of them even offer up to $1 for each visit to their landing page, content page, or product page.
Here’s the catch: You can’t just redirect your email list to any website. You need to select websites that match your subscribers’ interests. This way, you’re helping your contacts find something they’re interested in, while you also earn money from the company you’re promoting. It’s a win-win for everyone!
5 Best Tips for Making Money with Email Marketing
People often think email marketing is a profit machine, but true success in this field is rare. It’s not just about sending emails; otherwise, everyone would be raking in profits.
The key to making money with email marketing lies in having a well-thought-out strategy. Accomplished email marketers are familiar with diverse strategies and are continually seeking to acquire new ones.
To kickstart your journey toward earning money through email marketing, you should integrate certain strategies into your campaigns. Here are some valuable options to explore.
1. Segment Your Email List
Many email campaigns have struggled, sending out countless emails with zero responses. Wondering why?
The issue is clear: These campaigns lacked a targeted email list. Consequently, the recipients couldn’t find relevance in the promoted products, leading to dismal email open rates.
To steer clear of this pitfall, prioritize building an email list comprised of individuals genuinely interested in your offerings. You can gather emails from various sources, such as your website, LinkedIn, or social media. However, always ensure their interests align with your product or service.
2. Personalize a SMART Email Campaign
Planning a SMART email campaign involves setting specific, measurable, achievable, relevant, and time-bound goals. Here’s a step-by-step guide on how to plan such a campaign:
Define the objective: Clearly outline what you want to achieve with your email campaign. Be specific about the outcome you expect, such as increasing sales, growing your subscriber list, or driving website traffic.
Identify key metrics: Determine how you will measure the success of your email campaign. Common metrics include open rates, click-through rates, conversion rates, and revenue generated.
Assess resources: Evaluate the resources available for your campaign, including your email list, content, and budget. Ensure that your goals are realistic and attainable given your resources.
Align with your business objectives: Ensure that your email campaign goals are in line with your overall business goals and marketing strategy. The campaign should contribute to your broader objectives.
Set a timeline: Define a specific timeframe for your email campaign. This helps create a sense of urgency and allows you to track progress effectively.
3. Enhance Your Email Marketing with Personalization
In a world flooded with emails, standing out is essential. Personalizing your emails can make a significant difference in engagement rates and customer loyalty. Here’s why it matters:
- Higher Open Rates: When subscribers see their name or personalized content, they’re more likely to open your emails.
- Increased Relevance: Tailoring your message to individual preferences and behaviors makes your emails more relevant and valuable to recipients.
- Improved Customer Loyalty: Personalization shows you care about your customers, fostering loyalty and repeat business.
To boost your email marketing, start incorporating personalization into your campaigns today.
4. Creating Irresistible Subject Lines: Your Key to Email Success
Subject lines in your emails are like the first impression you make on your subscribers. They play a pivotal role in whether your email gets opened or ignored.
Crafting compelling subject lines is an art and a science, and here’s how you can master it:
Conciseness: Keep it Short and Sweet
The best subject lines are concise and to the point. Aim for brevity, ideally under 50 characters. Short subject lines are easier to scan and understand quickly.
Relevance: Speak to Their Interests
Ensure your subject line directly relates to the content of your email. It should align with the recipient’s expectations and interests. Don’t bait-and-switch; be honest about what’s inside.
Curiosity: Spark Their Interest
Pique curiosity by hinting at what’s inside without giving it all away. Use language that makes the reader want to know more. Phrases like “Discover,” “Secrets Revealed,” or “Don’t Miss Out” can create intrigue.
Emotion: Evoke Feelings
Emotional subject lines can be powerful. Depending on your content, try to tap into emotions like curiosity, excitement, fear of missing out (FOMO), or even humor. Emotion connects readers to your message.
Keywords for SEO: Optimize for Search Engines
Incorporate relevant keywords naturally into your subject lines. These keywords should reflect the content of your email. When your subject lines align with your email content and target keywords, it can improve your email’s search engine optimization (SEO).
5. Simplify Your Email Marketing: Use Automation
When it comes to email marketing, timing and relevance are super important. Some emails need to be sent right on cue, while others should be delivered at specific times or days for better results.
But here’s the catch: If you’re a busy person with a business to run, it’s tough to manually send emails exactly when they should go out. That’s where email automation comes to the rescue.
Email automation is like having a helpful assistant. You use a special tool that lets you set rules. These rules can trigger emails to be sent based on specific conditions you choose. You can even decide what time of day the email should hit your subscribers’ inboxes.
The magic happens when your emails reach your audience precisely when they’re most interested. This can boost your sales and bring in more money.
There are many email automation tools out there, i would recommend to go with GetResponse because it offers all necessary features to autmate your email marketing.
So, automate your emails, save time, and send messages that your subscribers want, when they want them. It’s a win-win for your business and your sanity.
Final Words For Making Money With Email Marketing
I’ve shared 7 methods with you on how to earn money through email marketing along with 5 unique tips. Now, let’s consolidate these methods and tips into a brief list for easy reference.
- Sell Affiliate Products.
- Selling or promoting your own product
- Boost your Fiverr gigs.
- Boost Your Email Marketing Income.
- Selling your subscribers’ list.
- Making Money with Newsletter Ads
- Earning Extra Money by Sending Subscribers to Other Websites
- Segment your email list
- Personalize a SMART Email Campaign
- Enhance Your Email Marketing with Personalization
- Creating Irresistible Subject Lines: Your Key to Email Success
- Simplify Your Email Marketing: Use Automation
Before you jump into above methods, start by creating your own blog or website and start building your email list.
Remember, having a substantial and verified email list is key to making money through email marketing.
I hope this has inspired you to take action and start earning. Share your thoughts in the comments below.
Stay tuned for more helpful tips and tricks, and stay safe!