Email marketing is currently one of the buzzwords in the field of digital marketing. Many people are jumping on to it, like a bandwagon. However, a majority of them are confused as to how to make money from this particular technique.
Some studies have stated that the return on investment in email marketing is almost 3800 percent. Shocked, right. Everybody can earn a very high amount of money, from this method, by adopting the right ways and with the correct guidance.
Now, check these most popular techniques as to how to earn money online from email marketing.
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Sell your product on the thank you page of your option
This is one of the best ways for you to do email marketing. You should monetize the email list on the Thank You page of your opt-in. People, who opt-in for your offer, they like your brand and products.
So, there is an instant conversion of subscribers into customers. Ensure add links to the ‘BuyShopProducts’ page. Add good testimonials, to make the product more attractive.
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Play your promotions again
Check out your previous popular email campaigns and play it again. It can be anything, for example, a sale, a discount, etc. It has a tremendous leveraging effect, on customers.
For example, you can popularize a combo offer for pizza along with fries and cold drinks, to all the emails in the list, which you did last year again. But avoid overdoing promotions, as it creates bad publicity. It should be max twice a year.
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Target the correct audience and segmentation
This is an essential aspect of email marketing. There is no use of sending emails to customers of clothes when you are into the restaurant business.
Segmentation can be done according to various ways like demographics, interest, past purchases, and open rates. You will find a big boost in open rates, subscriber engagement, and click-throughs.
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Tripwire should be used
Tripwire is a very common term used in the field of digital marketing. The literal definition of a tripwire is a reasonably priced offer, which is pitched to the prospective customer, as soon as he signs up.
It is also known as product splinter. This leads to a big enhancement in buyer-seller terms. Tripwire is done to make an individual purchase the product again, then converting into a customer. As a customer, they will surely purchase something more pricey.
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Upselling
Always do upsell. For example, if you are selling bags, you must also sell kits and if possible chains with it. Customers always like purchases with upgrades. As per recent studies, it is stated that up to 60% of tourists are interested in additional services like hotels and pick and drop from airport services also.
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Down selling
As soon as you find a customer backing out of a purchase or deal, you should immediately offer a lower-priced deal or some attractive rebates or discounts, to lure him into the deal. This practice is also known as down selling.
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Cross-selling
Whenever users are buying a product from you, then you can show them an additional product as a compliment.
To cite an example, for those of you who are into the travel business, you can advertise the Goa package along with car and bike rentals. Since the majority of budget tourists in Goa prefer bikes, it is a great idea to offer it as an additional compliment.
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Always email abandoned shopping carts
This is a big issue for all online retailers. Many customers, who are buying through the site, quit midway and then you lose the sale.
To overcome this problem, you should immediately email an abandoned shopping cart to the customer.
For this purpose, establish an email autoresponder to notify users who have abandoned their shopping carts. Many retailers have reconverted 50 percent of their old customers, who left their shopping cart empty midway.
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You must create a paid subscription amount for premium content
For those of you who are experts in their fields, you can create premium content for your audience. You can design one time, monthly and annual membership for all your users. Your audience will be ready to pay this fees gladly.
The trick is to give a discounted rate for one to two months and then the regular price from the third month.
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Begin top-class coaching
You can also provide top class coaching to the email subscribers, for monetizing your email list. Some marketers have earned up to 20000 USD in one month by offering world-class coaching to almost 5000 subscribers.
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Affiliate marketing
There are many firms which will pay you commissions on any sales, which you create for them. This is popularly known as affiliate marketing. The logic is that you sell a different company’s products for your customers and earn a decent commission, instead of selling your products or services.
Some firms offer a lot of commission, once you promote them on your site using the referral link. Behind the logic, the policy is that you need to find brands which provide affiliate program in your area of operation and register in them. Product selection is of paramount importance.
Some of the hottest affiliate networks in the market are ClickBank, Amazon Associates, Rakuten, eBay, CJ Affiliate. Check email metrics regularly to check campaign performance.
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Sell or rent your email list
If you are desperately running short of money, then you can rent or sell an email list, to earn quick bucks.
Companies are always looking for email lists with genuine subscribers. But to rent and sell email lists, you must always contact reputed firms and good audiences, to get a good deal and maintain the reputation of your brand.
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Try to sell ads in your email newsletter
For those of you who have a gigantic email list, having more than 2500 subscribers, you can sell the space meant for advertising and charge a lot of money for it. In all your emails, you should add some lines with a product review, with a paid link to the page.
Conclusion
Although it is not easy to start but once you are on the right track, you can skyrocket your business in no time.
So, what are you waiting for?
Author Bio:
Name: Pooja shah
Bio: Pooja Shah is a Content Writer at Financesage. It is a blog where I cover financial tips related websites which is working towards investors to take better financial decisions and make the best choices while buying financial things and for better financial life.