Email marketing is a proven way to build brand loyalty and accelerate sales. According to HubSpot Blogs research, 96% of consumers have received some type of marketing email and 69% of consumers have opened an email marketing campaign’s content.
While many businesses have jumped on the email marketing bandwagon, many have struggled to make money with it. According to HubSpot Blogs research, 66% of businesses won’t make money from email marketing in 2018. Why? Because many strategies only make money when executed well. If you’re looking for a way to make money with email marketing, then this article is for you.
The Demand for Personal Branding Services
If you’re looking to make money with email marketing, then you’re in luck. The demand for personal branding and marketing consultation is on the rise. According to HubSpot Blogs research, 43% of consumers want to learn about products and services that are more personal to them. Only 20% want to learn about what’s popular. The other 60% want to hear from businesses that they can trust.
In a world full of uncertainty, consumers are seeking out expertise that they can rely on. Personal branding and marketing is a service that businesses can provide to help their customers feel more comfortable and secure in their purchases. If you already have an email list, you can use it to provide this type of personalised experience to your customers. By understanding your customers’ needs and wants, you can craft personalized sales and marketing materials that speak to them.
The Growth of Online Shopping
Whether you like to admit it or not, online shopping has changed the way that consumers buy products. According to HubSpot Blogs research, 55% of consumers have bought a product online that they didn’t try out in person first. This desire to try new things quickly and efficiently has lead to a generation of digital nomads who are constantly looking for new ways to make money online. If you’re looking for a way to make money fast, you can start an online store that sells products that you create or curate. You can even use a tool like Shopify to get setup quickly and easily.
Email Newsletters Make for a Sufficient Source of Income
If you’re looking to make money with email marketing, then it’s important to look at what type of income you’ll accumulate. According to HubSpot Blogs research, email marketing is one of the less expensive and more effective ways to generate income online. Depending on the size of your audience, you can expect to make between $500-$2000 per month easily. It’s also one of the more reliable sources of income, as 69% of consumers have opened an email marketing campaign’s content.
The above figures are for informational purposes only and are not meant to be exact or precise. Your results may vary. However, if you follow a proven formula, you’ll find that email marketing can be a lucrative venture.
Make Money with Email Marketing
Now that you have a good understanding of what types of businesses can make money with email marketing, let’s dive into how you can start making money now. Below, you’ll find a step-by-step guide that will help you craft an email marketing strategy that works for you.
Step 1: Set Up Email Subscribers
As mentioned above, email marketing is a proven way to generate traffic and build a list. If you’re looking to make money with email marketing, then you have two options: you can either build a list directly with offers or you can use a tool like MailChimp to build a list of email subscribers. Let’s explore each option in turn.
Build A List With Free Offers
The first option is to simply give your readers freebies. If you’re looking to make money with email marketing, then you can create a series of inbound marketing videos that teach your audience about a specific topic. For example, you could create a how-to video on pitching ideas to investors. Or, you could create a free checklist that you’ll send to new subscribers. The list of freebies that you could give away is endless.
The advantage of this tactic is that it’s very easy to implement and won’t take much of your time. The disadvantage is that this approach will only work for large brands and companies that have the budget to invest in inbound marketing tactics. Sending out freebies is always a good idea, but it’s not sufficient to make money in 2018 and beyond.
Step 2: Measure The Performance Of Your Email List
After you have a decent amount of email subscribers, you’ll want to measure the performance of your email marketing efforts. In order to do this, you’ll want to determine the following:
- the size of your email list
- the average amount of time it takes to get a response from your audience
- the open and click-through rates of your email’s subject lines
- and more!
As a rule of thumb, your email list will grow fastest if you focus on providing value and engaging with your audience. Once you have all of this data, you can use it to optimize your strategy and gain more traction.
Step 3: Identify Your Audience’s Pain Points & How To Address Them
After you’ve built up a decent amount of email subscribers, you’ll have the opportunity to identify the pain points of your intended audience and how you can help them. This is where you’ll craft the email’s copy and decide on the value prop that you’ll use to gain trust and establish credibility with your subscribers. In the example above, we mentioned that 66% of businesses won’t make money from email marketing this year because consumers don’t trust the content (20%) or the information is not personal enough (46%).
This step is all about the value that you can provide to people who are in need. You can start by using the data that you collected in Step 2 and analyzing it to find the most popular products and services among your audience. Once you have this information, you can create a detailed comparison between competing products and services. The purpose of this step is to establish trust by educating your audience about the benefits of your chosen products and services.
Step 4: Design A User-Friendly Landing Page
When someone decides to subscribe to your email list, they’ll often need a way to sign-up. For this reason, you’ll want to design a user-friendly landing page to guide them through the process of subscribing. Your landing page should have all of the information that someone needs to know in order to subscribe. Keep in mind that you’ll have to adhere to email marketing best practices while creating this page. For example, you should have an opt-in box at the very least.
Additionally, you’ll want to make sure that your landing page contains a CTA (Call-To-Action) that encourages subscribers to take the next step and opt-in. You can use a tool like HubSpot’s Email Template to make this process easy and straightforward. As a general rule of thumb, your landing page should only have one purpose: to get subscribers to opt-in.
Step 5: Create Content As Frequently As Possible
The above steps will get you pretty far to establish a profitable email marketing program. However, you’ll only be able to generate consistent revenue if you create content as frequently as possible. If you look at the above graph, you’ll see that only 5% of businesses will make money in 2018 from email marketing. The majority of the money will come from products and services that teach your audience new things (33%) and those that provide value (20%).
Consumers are constantly looking for ways to speed up and simplify the tasks that they’re faced with on a day-to-day basis. If you can provide them with content that helps them along the way, then you have a good chance of establishing yourself as an authoritative figure in your industry and gaining their trust. Additionally, you’ll be teaching them something new that they can apply to their own lives. This is what inbound marketing is all about