How to Make Money in Email Marketing?

How To Make Money In Email Marketing?

Successful online marketers understand the effectiveness of emails in marketing. Your email list is one of the most important assets of your online business and it is something that other people cannot take away. Unlike a social media account where you may get suspended for unknown reasons, there’s no such issue when it comes to email marketing.

So how to make money in email marketing? Do you know how to create a profitable email campaign? If not, this article is for you. I’ll focus on how to maximize sales of Ecommerce store by email marketing.

Get People to Join Your Email List

Before you run email campaigns, you have to get people onto your email lists. There’re several ways you can build an email list.
The first group of people is your customers. You should set it as compulsory for people who purchase from you to provide their emails.

Also, you may entice people to join your list by having a coupon pop-up. If you use Privy on Shopify Store, you can set up different display rules for your pop-ups such as specific ULR, time spent on specific product page  or exit intent etc and test which one has the highest opt-in rate.

Using coupon as incentive is simple but effective for Ecommerce store and if the visitor joins your email list and didn’t make a purchase, you can still retarget them and persuade them to come back.

Another way to build your list is by giving away free content relating to your product. A lead magnet such as recipe, weight loss tips has been widely used by many online stores. The opt-in form can be a pop-up or a sidebar to notify visitors of the lead magnet.

Having a blog related to your product on your online store is also a good way to collect emails. Not only can a blog drive organic traffic to your site via SEO, you can collect emails by using the concept of content upgrade. It means you can send them more content related to the blog post via email. That can incentivise visitors who’re interested in your blog post to opt-in. The content upgrade can be PDF/Ebook, checklist, audio/podcast, video, cheat sheet etc.

For easy creation of lead magnets, you can use Beacon, which is a powerful tool to create professional lead magnet without hiring a designer.

A more advanced way to build your list is by running a Sweepstake. You can get people to opt-in by giving away a prize for free. You can collect a lot of emails overnight but people may have a lot of irrelevant subscribers who are not really interested in your product. Therefore, if possible, it is better to use your product as the prize.

If you’re confident in the conversion of email marketing, you can even invest some money on paid ads. Facebook’s Lead Ad Campaign is fantastic for collecting emails.

You may think why you don’t directly promote your product using Facebook ads and generate sales immediately. You’re right for some low-ticket product, but sometimes, it’s hard to get people to buy your product right off the bat, especially if your product is a bit expensive.

Therefore, you could run a Facebook Ad of your lead magnet to collect emails and use autoresponder to send a  sequence of emails to build a relationship before offering your product for sale. If you want to automate this process, you’re highly recommended to use Zapier to connect your Facebook Lead Ad Campaign with your autoresponder. The emails collected from Facebook Ad will then be automatically imported into your autoresponder and promotion emails will be sent out

Send Profitable Email Campaigns

Now, with your email list built up, what emails you should send to your list to make money?

The first email you should send is the welcome email campaign. Evidence shows that subscribers have a 42% higher chance to open and read welcome emails. So you should carefully craft your welcome email to make it the best email and include a call to action.

You can encourage subscribers to buy something from you by offering a coupon. Or if you want to nurture a closer relationship before making any offers, you can direct them to your blog or follow your social media such as Instagram.

Another important strategy is to send email campaigns related to different seasonal events. Here’s a marketing calendar that you can refer to when designing and scheduling your email campaigns. Ask yourself how your product can relate to each event. If you want to get some inspiration, simply subscribe to the email list of your competitor and see how they promote their product similar to yours.

Finally, I want to talk about the cart abandonment email, which is probably the most important email sequence to every Ecommerce store. A good cart abandonment sequence can help you recover about 20% of lost sales. You may be astonished to see that 69% of prospects don’t complete their orders. Do you know why? Here’s the chart that shows the primary reasons of cart abandonment:

How To Make Money In Email Marketing?

If you want to increase the recovery rate of your abandonment email campaign, you should offer a time sensitive coupon code or free shipping to encourage people to complete the purchase within a certain time frame.

Also, the timing of sending out the emails has a great impact on the conversion rate. Barilliance did a study and found that the first email sent within 1 hour can have 20.3% conversion rate comparing with 12.2% conversion rate if sent after 24 hours.

And the second email sent after 24 hours can have 17.7% conversion rate comparing with only 7.7% conversion if sent after 48 hours.

And finally the third email sent after 72 hours can have 18.2% conversion rate. This is the best practice you should follow on the timing of sending your 3 cart abandonment emails.

A final note on the frequency of sending emails is that you don’t have to send emails to your subscribers too frequently, otherwise your subscribers will feel annoyed and unsubscribe. The last thing you don’t want to see is your subscribers mark your emails as spam which will lower your email deliverability, which is a nightmare for most email marketers. On regular days, you are recommended to only send one email to your subscribers weekly, just to make sure you’re not forgotten by your subscribers.

Also, if your store has many products, make sure you create segments of your list based on their interests, the products they like, their behaviour on your website etc. In that way, you can ensure your email is relevant to each subscriber and can greatly ramp up your ROI of email campaigns.

Relevancy is important to avoid being flagged as spam and can enhance open rate, which can improve your deliverability of emails over time. Therefore, take the time to test which is the best way to segment your list before you send out your emails.

The best tool that enables advanced segmentation for Ecommerce stores is Klayvio, which is specifically built for Ecommerce stores.

Wrap Up

Are you ready to see how powerful email marketing can be? Start implementation today and see the results yourself.

If you don’t try these email marketing tactics, you will be leaving a lot of money on the table.

Just start to build an email list using the strategies above and send email campaigns to your list to make money right away.

Share this post with friends who want to know how to make money in email marketing.

If you have any questions, leave a comment below and let’s discuss.
I’m excited to hear about your success.

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