Email marketing is one of the oldest and cheapest marketing options available, and although a lot of people think it is dead, it is, in fact, still thriving. No matter if you run a small or large business, you should invest your time, money, and efforts into building this specific marketing campaign – especially since it can connect you with your customers, as well as earn you money.
If you are starting out with email marketing, you might be wondering what it is, how it works, and how does it allow you to make money. Well, if you found yourself in this situation, this article might be able to help you. The text below will feature a guide for completely understanding email marketing. Let’s take a closer look:
What Are The Basic Things to Know About it?
Before reading any further, you should first know some basic things about this advertising type. Simply said, email marketing is, well, marketing by sending emails. It revolves around a company sending newsletters, offers, promotions, coupons, as well as content to their audience, which can in return get them to engage more with the content you post.
It is, in fact, one of the best ways for building a trusting relationship with your customers, especially since a good relationship can lead to better chances for making money by implementing this campaign type. If executed properly, you can boost user engagement, improve your sales, as well as generate better revenue.
How Does it Work?
If you are thinking about utilizing this marketing strategy, there are five steps that you should go through in order for it to be successful. The steps are:
- Choosing A Service Provider – the first thing you should do is to get an email program provider. You should opt for one that fits your requirements and needs. Of course, there are hundreds of them to choose from, hence, choose wisely.
- Create a List – next, you should start building your email list. This list will contain the data of the users that subscribed to your website. Depending on your needs, you can create one or several lists.
- Generate Leads – by using the list or several of them that you created, you’ll be able to generate the leads that you need. You should check out eventige if you want to see how their Klaviyo experts can help you out.
- Set-up a Responder – by opting for a responder, you should be able to send out automated messages to your subscribers. This can lead to income generation.
- Send Out The Mails – broadcast emails enable you to send out messages to the individuals from your list. This means that you should choose a program that will allow you to massively distribute your messages.
How Can I Generate Income From This Advertising Type?
There is a wide range of things that you can do in order to monetize the campaign you create. The things you can opt for include:
Selling Products or Services
If you already have services or products to sell, you can easily skip this entire section. However, if you do not, this will be the first step that you should take. Think about the products/services that you want to sell to people. Without promoting things, it will be quite impossible to generate an income from your campaign.
Selling Products or Services For a Different Company
Now, you do not have to sell your own thing to earn money from your lists, you can choose to sell other company’s products/services. As a partner, you will get a commission from the company if you send people to their websites, as well as help them generate more sales.
Upselling Exclusive Items
A lot of experts believe that boosting the average price at the period of the purchase – upselling – is one of the best chances for boosting the revenue. This means that you can combine different products or services to create specific packages that people can opt for.
For instance, if you offer life coaching services, the services/products you sell are probably a membership card that implements things such as webinars, e-books, resources, and so on. So, what you can do is to offer an exclusive package of one-on-one sessions.
People will probably like the idea that they can talk to you alone, hence, you can easily generate more sales. Keep in mind that individuals will pay a lot of money for specific customized services/products, so, consider implementing these exclusives.
Get People to Purchase The Same Item Again
Your company probably has services or products that people purchase often. Well, you should know that a reminder email is one of the best ways to make people purchase the same thing again.
Hence, if you sell perishable items, make sure that you remind the customer that you are still there for them. This can lead them to purchase the same or different things from you.
Ask Your Customers to Spread The Word
The last strategy that you can try includes one of the oldest advertising strategies – spreading the word. This means that you can ask your loyal, engaged customer to spread the word about your company. Of course, you can do so by sending emails and motivating them to recommend the items that you sell to their family members or friends.
For example, you can offer them a discount, free item, or a coupon if they share the link to their social media accounts such as Facebook, Instagram, or Twitter. People are more likely to share your link if they can get something from them, and if they do share your link, you can reach more people, as well as generate additional sales.
As you can see, you will need to invest some money, time, and effort into creating the perfect email marketing strategy, however, once you execute it, you should be able to improve your sales, boost the number of customers, as well as generate higher revenue.
So, now that you know what you should do, do not waste any more time and start thinking about how you will execute your email advertising campaign!