Email marketing is an effective way to reach a targeted audience. Many businesses rely on email marketing for customer acquisition and retention. Emails have a high conversation rate and a strong return on investment — ideal for driving sales and brand awareness. Here are five ways to make the most out of your email list.
1) Up-selling, down-selling, and cross-selling
Up-selling is recommending a more expensive option to a customer after a purchase. Down selling is suggesting a less expensive alternative when the customer backs out of a sale. Cross-selling is recommending other complementary products related to the initial purchase. Keeping track of your customers’ transaction history and emailing appropriate suggestion is guaranteed to boost sales.
2) Paid subscriptions to premium content
If you are an expert in your field, you could use your vast knowledge and experience to create content that your subscribers would be willing to buy. It could be coaching sessions, business tips and news, webinars, or analytical information. Create a weekly, monthly or annual membership for accessing premium content. Ideally, it shouldn’t be an expensive subscription; it’s better to have many subscribers paying a small fee than a few paying a high price.
3) Promotional content
Keep your customers up to date with the addition of new features, products or services in your business. Let them know what you’re up to; are there any new products they might be interested in, any seasonal discounts and offers? This could be in the form of a newsletter or general promotional ads.
4) Sell ad space on email content
Many businesses are always on the lookout for legitimate email lists. It’s never a good idea to rent out email lists, but you can at least rent out some ad space on your email content such as newsletters. The best way to do this is to write a review of the business and subtly encourage your subscribers to follow their links. Just make sure that the third party is not a competitor.
5) Target abandoned shopping carts
In some cases, potential customers fail to complete checkout for various reasons. With the right emailing campaign, abandoned carts can become marketing opportunities instead of lost sales. Send your subscribers a reminder email if they abandoned their cart, highlight any discounts available with the purchase, down-sell, and offer any available checkout assistance.
There are several ways to make money on your email list if you apply a bit of creativity. Contact us today and discover more ways to grow your businesses through our email marketing services.