Email marketing has proved to be the most effective, affordable, and direct marketing channel which is all you need to get people in your funnel, converting them into buyers and finally into loyal brand ambassadors.
Implementing email marketing is a step-by-step process. You need to choose and integrate the right email marketing platform; create a catchy and remarkable subject line; write a clear and compelling message that grabs peoples’ attention; deliver your message at the right time; generate conversions with a powerful call to action.
What is Email Marketing?
Email marketing can be defined as using email to send messages directly to your customers, thereby creating awareness and driving conversions with the goal of improving sales and revenue. There are two major components that make up an effective email marketing strategy:
- The message or offer you send and
- The delivery of those messages or offers to your customers via their inboxes. To make money with email marketing, you need to do both well!
Can you make money with email marketing?
Sure you can. In fact, when executed correctly and with a solid strategy in place, email marketing can increase sales, generate revenue, and cement your brand in your customers’ minds—all with little effort from you. But how?
The best way to create an email list is by starting a blog and adding a “newsletter subscribe button” – if you haven’t of course.
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Here are 7 reasons why email marketing is one of the most powerful tools for making money online:
1. Email Marketing is Scalable
With social media, you’re pretty much limited by your audience size. Unless you happen to be an A-list celebrity or some other influential figure with millions of followers, don’t expect Twitter or Facebook marketing to make you any serious money.
With email marketing, however, you have complete control over your own data set. There are no limits on how many people can sign up for your newsletter (within reason). Just because your list isn’t a million people long right now doesn’t mean it won’t be in six months.
If anything, that means you just need to spend more time building it out and making sure there is value in every single message sent out. Because if they don’t find value, they won’t stick around. And if they aren’t sticking around, then why would anyone buy from you?
In simple terms, I mean email marketing is scalable in terms of reach.
2. It is Cost-Effective
To generate revenue and increase sales with an email marketing strategy, all you need is an email account and some well-considered words in your draft folder. The price of entry is cheap sometimes free and it is accessible across multiple platforms. Plus, it offers huge returns on investment (ROI).
According to B2B Marketing, email marketing provides an ROI of $40 for every dollar spent. And that’s after factoring in costs like staff time and technology for designing emails. Better yet? You can track performance metrics so you know which emails are generating results. From there, you can determine what works best for your business goals.
A key benefit of email marketing is it is unparalleled trackability. While it is easy to measure how much revenue is generated from any direct response ad campaign, things like website clicks and traffic are harder metrics to nail down.
With email marketing, however, all you need do is create an automated email sequence that can be tracked in terms of open rates and click-throughs. This data will give you all you need when it comes time for budgeting and forecasting.
Moreover, you can easily see which messages are performing best and adjust your strategy accordingly. You might even discover new ways to generate sales as a result! And let’s not forget about customer lifetime value (CLV).
Once you know what works well with your email campaigns, you can calculate CLV and spend appropriately across various channels. Not only does that help refine your company’s overall strategy; but it also helps increase sales based on ROI as well as CLV.
That is because increasing CLV gives business owners more cash flow overtime – money they wouldn’t have if they relied solely on short-term tactics that only helped drive one sale at a time rather than driving repeat customers through repeated purchases with each transaction adding more profit over long periods of time.
4. Builds Long-Term Relationships
It’s easy to think of your marketing strategy as one-and-done. You make contact with potential clients, try to close a sale, and never look back. That may be effective in some cases, but in order for that kind of email campaign to be truly effective at making money, you have to build relationships with your customers over time.
Without building those long-term relationships, any sales you make through your emails are likely going to only pay off once; after that initial sale, it’ll be much harder for you (or anyone else) to convince someone who isn’t familiar with your company or brand name that they should do business with you again.
The best way around that is? Write emails that help promote growth within your industry by offering useful information to newbies, asking them questions about how things work, and thanking people who have purchased from you.
When you focus on building positive relationships rather than simply trying to get something out of every exchange with another person, they’re more likely to come back and purchase from you when they’re ready – and referrals will also follow suit! For example:
It’s not all about getting their business. I would like to start an online clothing shop someday so my first question is which application would be better for me Shopify or Big Commerce? Also, what is the most beneficial place for me to source cheap clothing from?
5. Ease of Use
The great thing about email marketing is how easy it is to use. Even if you’re an extremely busy person, you can still find time to send emails or even schedule them in advance.
For example, I have people sign up for my daily Morning Digest email, which summarizes what I’ve written that day and includes links back to all of my stories. It takes me less than 5 minutes every morning to set it up, and then I don’t have to worry about forgetting it until later in the day when I know there are going to be new posts worth linking back to.
When used properly, email marketing is both simple and effective. There’s nothing quite like sitting down at your computer each morning with a cup of coffee knowing that hundreds (or thousands) of people will soon receive valuable information from you.
It makes everything else more enjoyable; suddenly getting on social media doesn’t seem like such a burden anymore because you already got your work done early in the day.
6. Analytics Report
If you want to really understand how your email marketing strategy is doing, you have to be willing to take a hard look at your analytics. It’s important that you do regular analysis of open rates, click-through rates, unsubscribe rates, and spam complaints in order to figure out what works and what doesn’t.
But even when analyzing those numbers, it’s imperative that you use all of your resources – including customer surveys and any other forms of feedback. That way, you can truly get an accurate view of what they liked or didn’t like about your content.
And if you don’t know something? Find out by asking! Don’t rely solely on data and analytics; talk to your customers directly. Make sure their voice and their concerns are heard! They are why you’re sending emails, after all.
7. Reach More People
In business, marketing is key. And email is one of the most direct ways you can market your products and services without spending an arm and a leg on traditional print or online advertisements.
If executed properly, it’s also one of the most cost-effective channels for lead generation and customer acquisition. And if you’re doing it right, email marketing could become one of your most powerful strategic tools for increasing sales and driving revenue.
Here are three tips that will help you make sure your email marketing efforts are effective: Start with a strategy, Focus on relevancy, and Measure results (at least once).
With these three things in mind, you’ll be well on your way to leveraging email as one of the most powerful marketing tactics at your disposal.
– Start with a strategy
When planning any type of campaign, there’s always some sort of overarching strategy in place that ties together all aspects of it. The same goes for email marketing. It doesn’t matter if you’re working through small projects or big campaigns; make sure everything has its own why and how before sending out any messages.
Why are you reaching out? What are you trying to accomplish? How will you reach your goals? And what tactics do you plan on using in order to get results? With a solid strategy in place, it’s much easier to select relevant content and craft compelling subject lines and body copy.
Everything just clicks into place once there’s a clear goal and an understanding of what needs to happen next.
– Focus on relevancy
Often times when people think about getting more email signups they lean heavily into hard-selling every time. That’s not really effective in creating quality leads, though. Instead, use your emails to provide value beyond the typical buy my product pitches.
Even if someone isn’t ready to buy from you right now (or may never be), that doesn’t mean he or she won’t become a future customer down the road. So focus on providing helpful information related to products and services your customers have already bought or shown interest in buying from you.
You can also run contests or promotions via email, asking recipients for feedback on new products or updates coming soon, just remember not to abuse opt-in boxes! Once again, stick with building relationships before driving sales so you have multiple opportunities down the line instead of burning bridges too quickly.
– Measure results
If there’s one thing many businesses don’t do effectively enough, it’s measuring their efforts over time. There’s no sense in crafting brilliant emails if you’re unable to assess whether they were successful or not.
After each email campaign is finished, review click rates and conversion rates so you know exactly how well your messages were received by subscribers. There are tons of great analytics tools available today (including some completely free ones) that will help ensure you know where improvements need to be made.
It might take a few tries before you find what works best for both your audience and brand but once those metrics are locked down and refined over time, it’s easy to see progress being made towards better returns than ever before.
Marketers have long been turning to email as a powerful way to generate sales and revenue. Since you may already be sending email marketing messages, now it is your chance to make them more effective.
The next time you’re planning out your next newsletter, remember these tips: Be strategic with where you place links (and don’t forget tracking), start mobile-responsive design today, and follow up strategically.
With those changes in place, you’ll improve your email marketing efforts and turn passive readers into active buyers and that can only help grow your business.
What does it really take to make money through email marketing?
I recently received an email from a reader that asked a very simple, yet profound question: “How much money can I make from email marketing?”
If you’re a blogger or content publisher, you know what I’m talking about. When you receive an email asking how to do something, or with a certain amount of money (or even just the word “money”), your first instinct is to put blinders on and click out. It shows me that the person contacted me because they want my help, and they aren’t interested in the other content on my blog.
This kind of thing happens frequently to bloggers, and it often happens because they don’t have the right expectations for their business. They don’t realize that unless they invest in their business, it will fizzle out.
How much money can I make from email marketing?
The short answer: A lot.
There’s no complete answer to that question, but we’ll break down how much you could expect, and what you can do to improve your results.
A few years ago, a study by the Direct Marketing Association reported that businesses made an average of $40 for every dollar they spent on email marketing.
For every $1 invested in email marketing, the average return is $38. Email marketing still gets more conversions than any other digital channel.
So, how much money can I make from email marketing?
The answer depends on many factors: the size of your list (do you have 10k subscribers or 100?), your average order value (how much does a customer spend when they buy from you?), and your conversion rate (what percentage of people actually buy from you?).
The number will also depend on how well you optimize your email marketing campaigns. Are you sending emails too frequently or too infrequently? Do your subject lines encourage people to open up? Do they encourage people to click through and make a purchase? Are they optimized for mobile devices?
Essentially, the more information we have about each of these factors, the better we can calculate how much money you can make with email marketing.
How To Trigger The Flow of Leads Generated By Your Email Marketing Campaign?
The goal of any email marketing campaign should be to get people to open your emails and read them. But how do you do this?
One way is to create an irresistible free offer (like a free e-book) that entices people to opt into your email list. In order to receive this free offer, they must give you their name and email address. Once they’ve done so, you can send them emails which will hopefully result in sales or new business relationships!
Another way is by using social media channels like Facebook or Twitter where people are already following you and therefore more likely to open your emails if they see something interesting inside.
The third option involves using paid advertising such as Google AdWords or Facebook Ads where the goal isn’t just about getting subscribers but also about generating leads for your business through pay-per-click (PPC) campaigns. These types of ads are more expensive than organic traffic… and the list continues!
3 Powerful Ways To Optimize Your Email Marketing Campaign?
- Make sure all emails link to landing pages. Landing pages are key to a successful email marketing campaign. Don’t send emails that link directly to a website with no further interaction. Send them to a landing page that allows them to download information or sign up for a webinar, or make a purchase. The best time to do this is right after they have made an initial purchase and are interested in making another one soon.
- Keep your subscriber list clean and updated. If you have customers who haven’t made a purchase in the past year, then remove them from your list so that you only send emails to people who are more likely to be interested in what you’re offering.
- Make sure your emails fit mobile devices. If someone has opened an email from their cell phone, then they want the information immediately, so don’t make them scroll through a long email and take up valuable space on their screen. Just get straight down to business.
Email Marketing Tips for Beginners/Small Businesses?
- Have an obvious purpose for each email campaign. Email marketing should be a part of your overall business strategy. The goal of each email campaign should be to develop a relationship with your customers. This means making them want to open every email, read it, click on links, and take action.
- Keep your message short and simple. The average person has an attention span of 8 seconds. That means you have 8 seconds to get your point across in an email campaign. Your message must be simple enough that people will read it quickly and understand what you’re trying to say within those first 8 seconds.
- Match each email campaign to your customer’s needs. There’s no one-size-fits-all approach to email campaigns. You need to create content based on the specific needs of each audience segment you’re targeting. Some brands use different emails for different segments. Other brands create unique campaigns for specific holidays or events.
- Use a compelling subject line. Your subject line should make clear what people will get when they open the email. For example; Free Shipping on All Orders Over $25! Try not to be too clever with subject lines because they’re often truncated on mobile devices (sometimes half of your characters will disappear).
- Be transparent about what people can expect from you. This tip is two-fold: first, don’t over-promise in the subject line by promising a benefit you can’t deliver. Make sure the benefit is something your subscribers will get, not just that you’ll send them something great. Second, be sure your “From” name or sending identity makes clear that the message is from you. People are more likely to open an email if they recognize who it’s from, so use something like your name or your brand name rather than a generic “admin” or “support.”
Why do Many Businesses Prefer Email Marketing?
Email has become the preferred method of communication for many marketers. With the right strategy, you can effectively use this channel to promote your products and services to customers, build relationships with potential customers, and generate sales.
Email provides a way to reach potential customers who are actively searching for products and services they need. That’s why it’s an excellent way to drive sales. But don’t assume that just because your customers know what they want that they’re going to buy from you.
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