An email list is an asset that could be monetized in different ways. If you own one, you shouldn’t have any reason to worry about money.
If you have a few active subscribers and don’t know what to do with them, in this post, I’m going to teach you 5 ways to make money from them even if you have no product.
Don’t have an email list? Here’s how to build one
Requirements to make money with an email list
Here are the basic requirements to make money with an email list.
- Atleast 2000 active subscribers: You’ll need at least 2000 subscribers to make a substantial amount. You can have less but the more subscribers you have, the more money.
- Ability to write and communicate: You should be able to write and communicate clearly too.
- A computer and internet connection: You need a PC please, not a phone.
- A lead magnet: This is if you have no subscriber already (More on this later)
- An email software: This is where you’ll store and send your emails from.
Now that you know what is needed for this business -Let’s get down to how to get started.
What is an email list?
Email lists are simply the names and email addresses of people.
Before you can have access to people’s names and email addresses, you’ll need a lead magnet (A gift you give in exchange for their email addresses). More information on 👉 email list and lead magnet.
5 Ways To Make Money With An Email List (Even if you don’t have your own product)
The same way you can make money selling to your social media followers is the same way you can make money with an email list. It’s that simple once the LIST is there.
At this stage, I assume you have a list already or have learned how to build one.
Let’s now talk about how to make money with your list
1. Partner with someone to host a webinar.
You can make money from your email list by hosting webinars with people that have great products/services. Top internet marketers like Robert Kiyosaki (Author of Rich Dad Poor Dad), Anik Singal of Lurn Nation, are making a ton of money from their email list using webinars. I know because I’m on their list.
What is a webinar?
Webinars are online conferences in form of audios or videos usually aimed at teaching or introducing an audience to a product/service.
Webinars can be free or paid and you can make money either way.
But we are going to focus on the free method
An example of a webinar could be
- How to become a freelance writer
- How to become a virtual assistant
- How to home school a child
- How to invest in real estate
- How to make money while you sleep.
- How to get second citizenship in one year.
- How to sell more in less time. etc.
The aim of the webinar is to get your email list to attend and then pitch a paid class or make a sale afterward.
Let’s say you built a list focusing on TRAVEL” You can host a webinar and invite a travel consultant to speak to your audience about his/her product/services. At the end of the webinar, they make a pitch and you split the profit from the sales.
How it works
For instance: If I had a list on travel, and I made research and found a travel consulting firm that helps people get second citizenship by investment.
All I need to do is reach out to the firm, ask them to come speak to my audience about their services on the agreement that we’ll split the profit from any sales made at the end of the webinar.
The sharing ratio is negotiable but let’s say we agreed on 80/20.
If at the end of the day we made sales to 6 persons out of 500 attendees for the price of $5000 initial deposit/person, I’ll be going home with $6000 which is the 20% of $30,000.
Now, this is for high ticket products. There are low-ticket products that could cost $100 or less. e.g Brazil Citizenship report
If we agreed on the 80/20 and we made sales of $100 to 30 people out of 500 attendees. That’ll be around $600 in just a single day.
If you rinse and repeat (with different topics of course) the process like 2 times a month. That’s $1200/m.
And this is just one way to make money with an email list. Amazing right?😁
6 Steps To Host A Successful Webinar
1. Understand your audience: What type of audience do you have? What are they interested in? You can not have an audience on travel and host a webinar on “Gardening”.
In my post How to build an email list, I talked about having a niche in mind before building a list.
Once you understand your audience, you’ll be able to know what they’ll likely be interested in and serve them only those.
This step is important because it’s vital to how much you make from your list.
2. Brainstorm and research: You’ll need to spend time brainstorming on the most valuable and profitable webinar to host for your audience.
If you have an audience focusing on “Make money online” or for “stay at home Mom”. You can research successful online business owners that either have a paid course or classes and host them on your webinar.
You can find Guest speakers anywhere from social media, youtube, blogs, etc.
3. Reach out: Here’s where your communication and networking skills come to play.
After you’ve decided on a topic you then need to reach out to those who fit into what you want and invite them to your webinar and negotiate the payment ratio.
Some very busy persons might not honor your invitation but you can always ask for a representative.
Most business-minded people will agree to your offer because it’s another avenue to sell their products/services.
4. Send invites and reminders to your audience 4-7 times before the D-day. Once your guest speaker has agreed, you can start sending out invites to your audience.
5. Host the webinar: On the D-day, you are the one to coordinate the webinar and introduce your guest.
Afterward, your guest will do all the talking and towards the end of the webinar, he/she will make a pitch either for a paid class or an extensive course on the subject and give a limited time discount (Those who pay in the next 24hrs gets 80% discount) or faster fingers (First 20 people to pay gets 50% discount), etc.
This method has been proven to drive sales over and over again.
6. Rinse and Repeat: You can decide to do this twice a month. Meaning you’ll spend the rest of the days in the month researching topics, reaching out to guests, and convincing your audience to attend.
2. Partner with someone to host workshops
Workshops are another proven ways to make money with an email list
Unlike webinars, workshops are not free.
Participants will need to pay to attend.
What is workshops?
Workshops are intensive training on a subject matter and they could last from one day to several weeks.
I made tons of money from organizing workshops on WhatsApp as of 2018/2019. I didn’t even have a list then, it was just my Facebook followers.
Example of workshops
- How to sew
- How to run a facebook ad
- How to build a website
- How to Draw
- How to cook
- Public speaking
- How to write a business plan etc.
How to host a successful workshop
It’s the same process as hosting a webinar discussed above.
The only difference is that you’ll need to sound more convincing to your audience since they’ll need to make a commitment upfront.
To help persuade them, you can offer bonuses to registered participants.
Some bonuses examples are group support for 3 months, helpful ebooks, or video courses that could be useful in implementing what they learned from the workshop
For instance, If I held a workshop on how to create an e-commerce store from scratch, I could give 3 bonuses like -How to run a profitable Facebook ad, how to find the best suppliers on Alibaba or Aliexpress, or how to source for winning products.
All these are what I already know so I’ll just put them together as bonuses.
I know you are wondering, ‘what if you don’t have what to give as bonuses‘ – You can use PLR products. Source for quality PLR products that complements what your workshop is about.
How to organize a workshop
To organize a workshop, use the process already explained for organizing webinars.
3. Affiliate Marketing
This is my favorite way to make money with an email list
If you have active email followers, you can start making money from affiliate products right away.
All you need to do is find a product that your audience will love and tell them about it.
Many people think you only need a website to make money from affiliate marketing, that’s not true.
Although, some affiliate programs won’t accept you if you don’t have a website but who cares about those few affiliate programs anyway?
Clickbank, Shareasale, and all of them aren’t the only way to find affiliate products. There is another way I’m going to teach you.
How to find an affiliate product for your audience.
Remember rule #1? KNOW YOUR AUDIENCE!
1. Do a Google search: Let’s say you have an audience in the “English Language” niche. You can find affiliate products by searching for English + Affiliate program on Google
You’ll be presented with many options. Most of the options you’ll see are in-house affiliate programs and won’t require a website to become their affiliate.
Note: Try not to get overwhelm yourself by wanting to promote multiple products. It’s advisable to stick with 2-3 great products.
To know if a product is great, check some reviews about it by typing product name + review on Google. Avoid products with bad reviews.
2. Recommend the services you already use: There are many services and products you’ve used or currently using that you would have made lots of money from if you started referring them long ago.
Check if there are referral programs for your favorite products and start from there.
Many of these companies even pay for a successful sign-up through your link. Meaning your audience spends nothing but you make money.
3. Research and Negotiate: Just the same way you research for guests for your workshops or webinars, you can research affiliate products like ebooks, courses, software that you think your audience will love. etc.
When I wrote my book back then, lots of people reached out wanting to become affiliates, prior to that time, I never thought of having an affiliate program but had to create one.
So when you find a product/service you think your audience will love, you can reach out to the owner and tell them you’ll like to promote their product, once they accept, negotiate the commission and start promoting.
Please note that affiliate marketing and content marketing. works together.
Before you start promoting affiliate products, you’ll need to start with free valuable content first.
Valuable content lets you recommend the affiliate products naturally without being salesy.
Even if you decide to write a full post recommending only an affiliate product, it’ll be well received because they’ll see that you are selling from a place of care.
In order words, don’t just push out posts recommending your affiliate product. Mix it up with valuable content.
5. Sell your own product
Ok, the title says “even if you don’t have a product” so why the heck is “sell your product” among the list?
By the way, who says you can’t have your own product?
It’s not as hard as you think and selling your own product means keeping all the money to yourself right?
There are ways to get your own product without doing the leg work. I talked about that here
6. Bonus tip: Sell Ads
Did you know that there are businesses that will be willing to pay you to display ads on your email newsletter?
This method isn’t as profitable as others but it adds up to the revenue.
All you need to do is register with these companies, once you get accepted, you can start placing ads.
If you plan to build a long-term email marketing business, you need to be cautious with this option as it can lead to a high unsubscribe rate if done wrongly.
Making money with an email list can be a sustainable long-term business if done rightly. It’s even a preferred option to social media because you have total control of your list and don’t have to worry about getting banned unnecessarily or the platform shutting down someday like Google+ 😂
You can have as many lists on different niches as you want and as many subscribers as you can get.
If you start building a list today, in 6 months you’ll have your own cash printing platform.
That doesn’t mean you’ll have to wait 6 months to make money from an email list, in fact, find out “How to make money with affiliate marketing in the next 48hrs.
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