You probably know that email has the highest Return On Investment of any marketing channel available. This got you excited to start using emails or to improve your tips in order to drive sales and revenue for your business.
This guide will walk you through the effective tips that will help you achieve leverage using your email newsletter.
1. Use a tripwire
A tripwire in marketing is a way used to convince your target audience to buy a product from your business at a low cost which in turn triggers a marketing campaign designed to convert those customers to more expensive offers.
it is intended to speed up the creation of a buyer-seller relationship since it directs people to you after they already got something from you at a lower cost or at times for free.
By using tripwire, somebody is most likely to buy from you again than they are to become a customer in the first place.
Tripwires are an excellent way to test your audience’s interest in a topic before creating a more effective product that may take months of your time to complete.
2. Segment your list.
Segmentation really helps in understanding and defining who your potential customers are and what they really want from the rest of the crowd.
You can do the segmentation through their: demographics (age, gender, etc.), open rates, interests in your products, preferences towards your products, etc.
If you get your email segments right, your customers will receive relevant emails packed with information that they really want. That personalization leads to more conversations, more purchases, and in turn happier customers.
3. Offer paid consultation.
In a world that is fast evolving, most people (including your email subscribers) want to be up to date with the changes that take place in this world.
By making good use of your time, you can increase your earnings by offering your subscribers appropriate tips on important issues that they are not well conversant with but affects them.
start by building relationships and trust with your audience. Listen to the needs of your audience then gather relevant and authentic tips that will bring them back to you over and over again.
the major benefit of offering consultation services to your email subscribers is that you can get a healthy stream of income without a large number of subscribers.
4. Promote affiliate products in your newsletters.
Affiliate links are product recommendations that include a special tracking code. This code lets the company that owns the product know that you recommended their products, then in turn they pay you a commission if a sale is made.
In simple terms, find a solution you like then promote it in your newsletter, in turn, get the profit for every sale made.99% of customers go through their emails on a daily basis thus email is the most effective method to be used to get to customers.
N/B you are not allowed to put Amazon affiliate links in emails to your subscribers.
5. Sell ad space.
Selling ads ensure your posts are visible to everyone on the internet, which is a big advantage. Users who land on your newsletter can see your posts.
If you have a HUGE number of subscriber base, advertisers might be interested in running ads in your newsletters. You can charge the interested marketers for your space by the percentage of sales made through the link on your newsletter.
Partner with businesses that share goals that are similar to your corporate goals. Your first priority is to have exciting content and also have consistency in your content.
6. Sell your own products.
Come up with a great idea, most preferably a gap in the market. You should be innovative enough to attract your subscribers.
Then go ahead to promote your idea to your email subscribers. If the product, or rather the idea is unique enough, it will sell out. This means your email subscribers might share interesting idea with their friends or family.
This means, at the end of the day, you have more email subscribers and at the same, you have a great cash flow.
Take into consideration that the building and selling of your idea might not go as you expect, but eventually, it will succeed.
7. Paid Subscriptions.
There are 2 major versions of newsletters i.e., a free version and a paid version/premium version.
The difference between free and paid newsletters is that paid newsletter offers content that is unique and of high value that can’t be found for free. An example of paid newsletter content is interviewed on podcasts.
The secret here is to provide great content in your free version and incredibly valuable content in the paid version. Also, in your free newsletter, advertise your premium content. Include the exclusive returns that are available for paying subscribers.
8. Get Sponsors.
This is a paid advertisement in an email newsletter. A newsletter sponsorship tends to be included natively in the reader experience. In relation to this, your newsletter should cater organic content to fit with each sponsorship partner.
Securing a good sponsorship deal translates to generating revenue. For your sponsors, it will mean access to ready-made audiences (your subscribers), which in turn will get exposure to new products.
To attract sponsors, you have to ensure that your newsletter is progressing very well and your subscribers follow up on the links you currently feature.
9. Seasonal Promotions.
You can make money using email newsletters through seasonal promotions. Promote products that are highly needed during a particular season. For example, you can promote Halloween costumes during Halloween, or roses and chocolates during Valentine’s. you can also run specials that are unique to your store.
Send the offers to your mailing list to increase your site’s bottom line.
You can also run specials that are unique to your store. For example, you could do a mid-summer clearance to move inventory from the previous season, and boost sales during the slow season.
Up-selling is when your email subscribers purchase from you then you offer them more expensive products from your brand or an upgrade with that purchase. Up-selling will not push or offend your customers.
With the increase of marketing automation tools, you can automate the process of sending email upsell. The email marketing tool in turn confirms emails or post-purchase emails when a particular product is added to the cart or ordered.
This ensures that your customers get the right message and relevant product recommendations.
This happens when a potential customer is trying to back out from purchasing your product because it is expensive. So, you offer them a lower-priced product with similar features or discounts.
Down-selling starts a relationship and increases the chance that someone will make a bigger purchase from you in the future.
To be effective, a down-sell has to be a genuine down-sell. This is achieved by offering a secondary product for a lower price that customers can afford. The price should be significantly low so that your customers will not have a second thoughts about purchasing your product from your newsletter.
Cross-selling is when a user buys your product, then you show them a great add-on product or additional products that will complement it. Since your customers are already thinking about making purchases, you can use that to sell them more and increase your revenue.
When it comes to email cross-selling, you have to suggest complementary products based on what your visitor is currently browsing, currently has in their carts, or has purchased.
A cross-sell email can be sent automatically to your subscribers without having to display them on your website or your checkout stage.
13. Ask for donations.
This may not sound luxurious. Regular subscribers appreciate what you’re doing and attribute enough value to your newsletter, they will likely send some donations your way.
Make it obvious to your subscribers that you accept donations. Don’t be afraid to ask.
Also, make it easy for them to donate willingly. Having lengthy donating procedures will turn them off from subscribing.
Consistently do what you do best with passion, this will make your audience easily donate to you.
A combination of the above-recommended tips will help you earn more from your email newsletter. You can decide to choose what works best for your subscribers and then use it. Eventually, you’ll be able to find success in your email newsletter.
The earlier you put the strategies into action, the sooner you get leverage from your email newsletter. All the best as you start implementing the above strategies.