How Does Email Marketing Make Money?
How Does Email Marketing Make Money for Your Business and How Can You Make Email Marketing Work for You?
Whether you do affiliate marketing or have a brick-and-mortar small business, email marketing can make money for you. Affiliates make money promoting offers they get paid a commission on to their list, while small businesses make money through email marketing by selling their own products and/or services.
I simplified and condensed the above examples
For the sake of not trying to turn this into a Udemy course, I was quick and to the point on how you make money with email marketing. We’ll get into more detail as we go along.
In the above examples of, “how does email marketing make money,” I mentioned the word list.
If you don’t know what that term means, let’s clarify right now. Your list would be the people who have subscribed to receive emails from you. That’s the short version, but it will certainly do for now. We’ll get into more detail on this as we go along.
The easy part
The easy part is understanding the concept of, “how does email marketing make money.” It’s building the email marketing funnel, or understanding how the various other components of email marketing fit together where most go wrong.
Before you make money with email marketing, you’ve got to build a list of subscribers. I’ve already written a detailed piece on how to build a email list from scratch, so I’m not going to go into every detail here.
What you’ll learn
What you can expect from this article is a comprehensive overview of how to get to the point of where you’re actually sending out emails to people on your list. I’ll also share my thoughts on the types emails I think work best at converting email subscribers into paying customers.
How does email marketing make money through a target audience?
Remember how I was talking about the various other components of email marketing above? Okay, well, knowing who is going to be interested in the products and/or services you offer is one of those other components needed to make email marketing work.
Nothing works if you get this one wrong
The right target audience is so critical. I can’t even stress it enough. You’ve got to have the right kind of people on your list. These people need to already be interested in the exact types of products or services you’re offering.
The more targeted your email list is, the more money you will make with email marketing. This isn’t rocket science here either. There are logical steps you can take to define who your target audience is.
Who is your best customer?
That’s what a target audience is really saying… who is your best customer? Clearly defining your target audience makes all the difference with email marketing. For example: if I wanted to sell or promote an online income opportunity, then I want people on my list who are already interested in making money online. If I was a local pizza place, I want local residents on my list who like to eat pizza.
Still asking how does email marketing make money?
If so, let’s take a moment to break it down… we need to make sure we’re on the same page going forward.
Okay, let me ask you this, “who is your best customer?” Do you know the answer? You should have said your best customer is someone already interested in what you have to offer. Why? Because that person is going to be easiest to sell to.
Going back to one of my examples above… if I’m promoting a online income opportunity, don’t you think it would be a lot easier to make sales if I promoted it to people who were already interested in making money with a online income opportunity?
Of course it would be… and that’s the whole point of targeting your audience. The more targeted your list of email subscribers are, the more money you can make with email marketing. It’s as simple as basic math.
How does email marketing make money and build your targeted list?
Now that you understand who your best customer is and how you make money from email marketing by that person being on your list, now you can turn your attention to actually getting those types of people physically on your list.
There’s a couple ways I can think of off the top of my head to go about building a list of targeted prospects. One way is to have a signup form somewhere on your website. Another way is to have a lead capture page dedicated to enticing people to subscribe to your list.
While both have their place in the overall mix of things, I find a lead capture page to be far superior to a simple opt-in form placed somewhere on a website.
The first step to making money from email marketing is to have either a signup form somewhere on your website, a dedicated lead capture page, or both. This is really the beginning of your sales funnel. I offer niche specific pre-written autoresponder messages and lead capture pages and also create custom email marketing solutions, so if you have any questions, or need some help, email me.
The next step is to get traffic. How does email marketing make money? By having a list of people who are already interested in the types of products or services you offer. So you need these types of people on your list. Where can you find these people so you can try and get them on your list? The next section will answer that question.
How does email marketing make money with targeted website traffic?
You’ll never escape from the need to drive targeted website traffic. And let’s not forget that when we say, “targeted traffic” we’re actually talking about real PEOPLE. We’ve already defined what targeted traffic is if you’ve been paying attention. Targeted traffic is simply going to be PEOPLE who are already interested in the types of products or services you offer.
You are going to need PEOPLE (targeted traffic) coming to your website who are already interested in what you offer. The more targeted traffic (people) you can drive to your signup form, or lead capture page, the more conversions (opt-ins, signups, etc.) you’ll get.
Putting it all together
You first need to define WHO your target audience is. Secondly, you need to figure out where they are online so you can get in front of them.
- Who is your best customer?
- Who is going to be interested in what you have to sell?
- Where can I find these people online?
There’s a lot of great information written on the subject of defining your target audience. You’ll have to decide if taking the time to do some Google searches and study up on the subject is worth it to you. I will say that the more you get this part right, the better everything else will line up.
Once you know who your target audience is, it’s time to figure out where you can find them online. When you know where to find your target audience online, you can figure out ways to get your marketing message in front of them so you can drive traffic back to your lead capture page, or newsletter signup form.
How does email marketing make money through autoresponder messages?
Do you know what autoresponder messages are? Autoresponder messages are a sequence of pre-written emails that are automatically sent out to people subscribed to your email list. Typically, an autoresponder sequence is sent out to new subscribers. When you put together an autoresponder sequence, you decide the content of your emails.
You can do everything right to this point and still mess things up by sending the wrong type of follow-up autoresponder messages. That’s why I design my niche specific pre-written autoresponder messages to establish trust, build rapport, educate and soft-sell all at the same time. It’s a proven formula.
Don’t be that guy
However you decide to write your autoresponder messages, don’t be that guy who only sends out emails basically asking people to buy something. You’ll never have a responsive list that buys from you if all you’re doing is trying to sell something every time they hear from you.
Be this guy instead
Be the guy that offers value. Use the “give and you shall receive” technique. Your messages should give your prospect valuable information in a mini-newsletter format. What kind of information? We already covered this if you think about it.
How does email marketing make money? By having a list of people who are already interested in the types of products or services you offer. Right. Since these should be people who are already interested in what you offer, then write autoresponder messages that offer valuable information on the types of products, services, or solutions you offer.
EXAMPLES: If you’re an affiliate marketer that mainly promotes online income opportunities, write content that gives your prospect valuable general information on the subject of making money online. If you’re a local pizzeria gives your subscribers exclusive coupons and general information on the subject of pizza.
Add a resource box
Below the signature of emails I send out to my list, I have a resource box. The resource box lists other products or services I sell. You should have a resource box at the bottom of your emails too. The resource box at the bottom of each autoresponder message can offer your prospects your products, services, subscriptions, business opportunities, or whatever you have to promote.
- Using this soft sell approach to email marketing builds a long term relationship with your prospects.
- When your prospects trust you, they’ll buy from you.
This one technique alone can increase your sales by 300%!
How does email marketing make money? You should certainly know the answer to that question. There’s a number of critical components involved and you have to get each part right, but it’s not rocket science. If you have a business and you’re not capturing leads and doing email marketing, you’re leaving a bunch of money on the table.