If you’ve spent any amount of time looking for ways to make money online then you’ll have no doubt heard the phrase “the money is in the list”.
Whilst in most cases this phrase is very true, there are many people out there with large email lists who are struggling to make any money at all.
The reason for that is because there are 2 ways to make money from an email list…
A right way, and a wrong way.
So chances are if you’re struggling to make money from your list it’s because you’re doing things the wrong way.
But thankfully if you are struggling then you’re in the right place because in this post I’m going to show you how you can flip things around & begin making money (and you’ll be glad to know it’s not all that hard).
If you’ve already got an email list click here to jump straight to the guide.
Don’t Have An Email List?
If you’ve happened to land on this post and you don’t already have an email list then firstly let me tell you that you NEED to begin building an email list.
Back in 2012 when I started out online I built a massively successful affiliate marketing business but forgot to build an email list.
Well technically I didn’t “forget” as such because I didn’t even know what an email list was at the time (or why it was so important to build one).
But in 2014 when I found out about email lists I realised what a huge mistake I had made by not building an email list sooner.
You see in 2014 my successful business completely crashed overnight. Google ran an update & all the traffic to my website died…
My business went from seeing thousands of visitors per day to seeing nothing but tumble-weed… It was devastating, and it was a day I’ll never forget.
It meant I had to start completely from scratch & re-build my business as if it were brand new.
All the work I had put in over those 2 years seemed pointless…
But here’s the kicker… It could have been so easily avoided.
If I had been building an email list from day 1 things would have been SO different.
I mean sure, the Google thing would have still sucked – but I wouldn’t have had to start from scratch.
I’d have had an email list which would have meant I’d have had an audience of people that I could have brought back to my website whenever I wanted.
So even though Google would have killed my traffic, I could have created my own traffic by reaching out to my email list & bringing people back to my website. This would have meant that I could have generated repeat commissions from the same people and most importantly kept my business alive.
With that being said, reason number 1 to build an email list to make your business more sustainable.
An Email List Can Make Your Business More Profitable Too..
Without an email list, when visitors come to your website or blog and leave you have no absolutely way of reaching out to them & getting them to come back again.
This means that without an email list the chances are that you will only ever be able to make one-time commissions or sales from your visitors.
So without an email list you’re basically putting in a whole load of work, for very little reward.
By building an email list you not only have the power to get your visitors to come back to your website or blog, you also have the power to land offers & promotions directly into their inbox which will help you take your income to the next level.
Without an email list your visitors will only have a One-Time-Value.
With an email list your visitors will have a Life-Time-Value.
You can earn again, and again, and again, all from the same visitors.
So an email list essentially enables you to work smarter, not harder.
And if you’d like to learn more about building your first email list then click here to read my guide.
How Can You Make Money From Your Email List?
The phrase “the money is in the list” gets passed around a lot, and whilst it’s true it can be a very frustrating phrase to keep hearing when you just can’t seem to figure out how to actually make any money from your list.
I know, I’ve been there & I’ve got the t-shirt… I’ve had HUGE lists that I haven’t been able to make a penny from because I was going about it the wrong way.
But despite nearly giving up I stuck at it and finally I “cracked the code” and learned how to generate push-button profits from my email list.
And I know push-button profits sound a little cheesy, but it’s the truth. I can push a button, send a message out my list & make money… Email marketing done right is literally that simple & hopefully after reading this post you can achieve the same in your business too.
You Need To Have A Solid Relationship With Your Subscribers
One of the most common reasons people fail to make money from their email list is because they fail to build a relationship with them.
What this essentially means is that their subscribers don’t trust them.
And ultimately, why should they?
Unless you give your subscribers a reason to trust you, then they’re just going to see you as being somebody on the internet on the internet that’s trying to sell them something. They’ll also probably see you as being quite annoying, which can mean increased spam complaint rates – a big no no.
To get somebody to buy something from you, you must first get them to trust you.
However, because people are generally so desperate to start seeing dollar signs from their list they often forget about this vital rule.
If somebody subscribes to your list & all they get is bombarded with offers & promotions, they’re not going to buy anything from you & chances are they won’t bother opening any of your future emails. They’ll send them straight to the trash until they get totally fed up off them & eventually mark you as spam.
But if somebody subscribes to your list and you send them nothing but value then they’ll look forward to opening your emails.
This is called building trust, and once that trust is built then you can start sending the occasional offer & make money. This is what’s known as a responsive list (a list that trusts you, and wants to open your emails).
To get, you must first give.
Nearly all email marketing providers will let you set up something called a “follow up sequence” which is a basically a series of emails that gets sent out to your subscribers automatically after they sign up.
This follow up sequence gives you the perfect opportunity to build massive trust with your subscribers on complete auto-pilot.
All you need to do is create a short sequence of value packed emails such as your best blog posts or free eBooks & add them to your follow up series.
This way when somebody new signs up to your list they’ll be sent the value-packed emails from your follow up sequence & then (if done right) by the time they’re through it they’ll be nurtured and ready to buy from you.
So first things first, create yourself a value-packed follow sequence and hold off sending ANY promotional emails until they’ve finished that trust building sequence.
You Need To Put Yourself In Your Subscribers Shoes
Another reason people fail to make money from their email lists is because they fail to realise what their subscribers really want.
The harsh truth is that as humans we are selfish, and nobody really cares you want… They care about what is going to help themselves.
So you’ve got to question why your subscriber subscribed to your list in the first place and what it was they were hoping to achieve by subscribing.
Then, rather than trying to sell products to your list, give them the products they are already looking for…
Products that will help them achieve whatever it is they’re looking to achieve.
So forgot about looking for the products that will pay you the biggest commissions and instead focus on the products that will get the best conversions.
If you master this then you can even end up making money and making your subscribers feel like they received value at the same time. That’s powerful.
Hit Your Subscribers Pain Points
The best way to get your subscribers to buy something from you (or via you) is by first touching on their pain points and then explaining how the product that you’re recommending will help them overcome that pain.
So you need to determine a problem that they have, and then you need to introduce your product as being the solution.
Never, ever just send an email out saying something like “hey, check this out it’s great -> *link*”.
That just screams “I want your money”, and doing something like that can massively damage your relationship with your list.
At least show your subscribers that you care about them & that you truly believe the product or service that you’re recommending can really help them.
The best way to do this is to tell a story about how something similar has helped you, or somebody you know. Stories sell.
Lot’s of people think that once the trust has been built it’s going to stay & that they can just sell, sell, sell… Unfortunately it doesn’t work like that.
In fact it’s a lot easier to break the trust with your subscribers than it is to build it, so always tread very carefully.
To maintain the trust with your subscribers you need to keep giving, but rest assured that thanks to the law of attraction the more you give the more you will ultimately receive.
Marketing is funny, and an email list is the one thing that will teach you that you’ll actually make more sales by doing less selling.
For each promotional email you send out (aka an email with the sole intention of making money) I would personally recommend you send 3-5 value-packed emails to counteract it. Keep your subscribers engaged, hooked & trusting and you’ll build yourself a sustainable “push-button” income.
Only Recommend The Good Stuff
I’ve seen a lot of marketers get sucked into the trap of recommending products to their list based on the size of the commission they’ll get paid.
This is a BAD move.
I know it can be massively tempting to promote the product with an average $600+ commission per sale than it is to promote the one with the average of $10 per sale, but make sure your primary focus remains on the amount of value the product will give you to your subscribers & not the amount you will earn.
If a subscriber sees you pushing a dodgy product, or thinks you’re only pushing a product to earn commissions off the back of them then that trust you had built will be instantly wiped out. Chances are they’ll unsubscribe and you’ll never see them again – so not only have you not made money, but you’ve lost a subscriber too.
Always, always either test the products out first hand first or do your due diligence first. Never blindly recommend a product to your list to earn yourself a quick buck.
Segment & Target Your List
Most email marketing providers will give you the ability to segment your subscribers based on various different factors, such as whether or not they’ve opened your emails & whether or not they’ve clicked the links in your emails.
This is like an email marketing superpower because it allows you to quickly and easily home in on your super responsive subscribers – aka the subscribers who are most likely to buy something off you.
It also gives you the option to re-target your subscribers with a different approach if you see that they didn’t initially open the first email that you had sent out. You could try a different headline & send it out to your “no-opens” segment to see if this time around it catches their attention.
To Summarize The Process…
The process of making money from your list is actually quite simple – all you need to do is shift your focus.
Rather than focusing on making money, focus on building a relationship with your subscribers & let the money come as a side-effect.
Making more sales by doing less selling might sound like a strange concept, but it’s a concept that undeniably works & works very well.
So if you have an email list & you’re not making money from it (or not making the money you’d like to be making) then you need to ask yourself a question…
Do you really think you’ve done the best you can to get your subscribers to trust you, before selling to them?
If not, don’t worry because all is not lost. It’s not the easiest task in the world but you can still recover an unresponsive list through what’s known as a re-engagement campaign. This is kind of like starting a fresh, but with your existing subscribers.
I generally find the best way to go about it is just to be honest & open with your subscribers. Send them an email telling them what’s happened, and explain to them how in the future you aim to provide them with nothing but massive value & solutions to their problems.
But from here it’s VERY important to stick to your word & give them all the value that you promised (and then some).
To re-engage your subscribers you definitely need to go above and behind & over deliver – but if done right you can turn a “dead” list into a booming source of income.
So I hope you appreciated my insight into making money from your email list & I’ll follow this post up with a guide on how you can best re-engage your list to help prevent you having to start over from scratch.
For now though if you have any questions or comments feel free to leave them below & as always I’ll be more than happy to help 🙂
And whilst we’re on the subject of making money be sure to check out my post that shows you a whole bunch of different ways you can make money from your blog by clicking here.