Whether you’re trying to sell products, deliver information, build relationship and more, email remains an ideal platform to communicate with the target audience. Irrespective of the direction that social media provide us with, email marketing is here to stay longer than anticipated. As a business, customers entrust you with the responsibility when granting permission to send messages. And, failure to meet customer expectation will disrupt the customer journey. Your customers spend thousands of dollars every year to make your business profitable. It’s your time to give something in return. Start by cleaning the email list using email verify online to reduce spamming the inbox of the customers.
Here are 3 ways to monetize your email list to increase profitability.
1) Leverage the power of affiliate marketing
Affiliate marketing can easily turn out to be your goldmine without actually having a product to sell. If you have an authentic mailing list, get in touch with companies who will pay you a commission for sales generated from links that you will promote via your email list. Through affiliate marketing, you will not only monetize your email list but also reach a strong network of advertisers. However, maintain proper list hygiene by using email verify online.
2) Target abandoned shopping carts
In 2014 alone, customers left a whopping $4 trillion in merchandise in the shopping cart. Shopping cart abandonment has become a nightmare for marketers because customers can abandon the cart for any reason. As a marketer, you taste defeat when you were about to taste success. However, with the right email marketing strategy, shopping cart abandonment can become a part of the purchase funnel. According to research, 54% of the customers will make a purchase, if you offer discounts at checkout. Therefore, remove the shipping charges or offer additional discounts to complete the purchase by the customer. Also, create a separate list of people who have abandoned the shopping cart and send personalized messages with offers.
3) Paid subscription for premium content
Do you have a library of knowledge to share with the customers? Are you an expert in your field? In all likelihood, customers will agree to pay minimal fees to access your content. Harvard Business Review uses this tactic to generate revenue from the mailing list. For customers who sign-up, the company offers 8 free articles a month and access to any article after that is chargeable. Therefore, focus on creating an email service offering useful tutorials, guides, white papers and case studies through a paid-subscription plan. However, provide free content to the customers to tell them they can expect from your brand. A minimal fee of $5 can accumulate thousands of dollars as your premium content goes viral.
Your mailing list has tremendous potential to earn, but avoid being in the ‘selling mode’ continuously. Instead of focusing on the mantra of ‘sell, sell, sell and sell’, focus on ‘give, give, give and then sell’. Every email that you send to the customers should not be sales oriented. Whatever way you monetize the marketing list, remember to clean it using email verify online.