Growing your subscriber list and being able to monetize that is an ultimate dream lifestyle for many digital entrepreneurs today. It’s a classic tale of being paid for doing what you love – and people never get tired of chasing that ideal setup.
Well, getting paid for doing what you are most passionate about and existentially expert at is something you can do over and over again by pulling the right strings. How do you make money per customer? Now that you have your email list ready, the next phase would be how to monetize that.
Email Marketing To Deliver Highest ROI For Many Brands
You can scale your business starting from a quality email list. While there is strength in numbers – it pays to know if you got quality leads to begin with.
Email marketing continues to be the top-performing or premiere channel when it comes to customer engagement.
According to Emercury, an astounding number of over 143 billion emails get blasted into 4.3 billion subscribers per day for 2016, which definitely has sealed the deal.
Email is also said to deliver the highest ROI for many businesses today. Once you get people in your email list, the caveat is that in itself is worthless without the right strategy in place.
Your very first dollar from that email list is definitely the hardest to make but once you earned that, everything else rolls pretty smoothly.
People will generally spend on something that provides them value. This has been tried and tested with time. Brands online navigate on a circle or network of trust. A community of subscribers who are engaged enough and trust your brand would buy what you’re selling without much provocation.
Now, how do you keep your subscribers engaged? Recent data shows that many individuals wouldn’t mind spending on a brand that provides them real value.
Monetize Your Email List Today!
There are ways to master the art of monetizing your email list regardless of whether you are operating a startup or a large corporation. Here’s how the biggest brands do it and how you can adapt this to your current business model:
- “Give” And “Sell”. While it’s but predictable to be in a “selling mode”, you must be aware that people need to warm up first before they actually could be persuaded to purchase. This means you must make sure that your email content is not all about making sales. You have to tailor your pitch to knowing and understanding what your subscribers want and providing them exactly that. You must provide them freebies to get a taste of what you have to offer before actually driving them into the sales funnel. Most emails get marked as spam because it tends to be pushy or just sales-driven. Invest more time in getting personal and building rapport and trust with your customer base. Always keep in mind that customers will most likely take action and purchase from a brand they know and trust.
- Design A Paid Subscription Model for Providing Premium Content. If you are an expert or authority in your field and have extensive experience or knowledge with a particular niche or industry then people will most likely be willing to pay for that kind of content. If you have a vast and up-to-date library of knowledge on a specific subject matter or industry type then there is a target market for that. You can make a paid subscription model for premium content. You can craft learning guides, ebooks, online classes, and tutorials with a paid subscription program. You can now charge customers a one-time fee, monthly, or annual fee for accessing premium content. Once your tutorial or guide gets viral and is able to help thousands to millions of subscribers, your income will now roll in.
- Be Responsive To The Demands Of Your Subscribers. You need to design your content in accord with your audience. You have to let your audience warm up to you by proper segmentation and driving in content that adds value like free downloads, videos, and content. You need to check on your data and look for tell-tale signals of what works and what doesn’t. You have to feed the fire and keep people engaged. Check on your open and click rates. At this point, depending on the results of your emails, you can now offer tailored emails that are designed to suit specific audiences. You can now send in sales emails with product offerings that will respond to their needs and demands.
- Affiliate Marketing And Banner Advertising. This may seem old school, but these are effective ways to monetize your email list. Make sure that your ads and affiliate links are in line and related to what your customers want. Be careful to not appear as spammy and choose links that are valuable to your subscribers.
- Up-Sells Or Repeat Buyers. Your shopping carts will not be abandoned if you make sure your customers get what they need in your products and services. Remember to think like a subscriber when designing your products and not just create a product that you think would be a necessity for your customers. You have to work around what your target market demands and needs – that is where you derive a predictable and revolving income. Confident and satisfied subscribers would most likely buy your upsells and become repeat customers if they have experienced or gained satisfactory or remarkable results from the products and services you are selling.
Being able to monetize your list is one slice of the pie, the bigger slice would go for being able to provide guidance and information to people and businesses that trust and regard you as an expert and an authority in your field.
Rather than just finding ways to make money from your customers, you must focus on looking into how you would be able to provide more value so that they would be more than willing to pay you for your two cents.
Help your customers grow and accelerate their results with your brand cut out to impress and satisfy your target market. Take this to heart and money will follow.