Today, email marketing remains a critical part of any marketing mix. In fact, a recent study showed that for every $1 spent on email marketing, the average return is $48. That’s a 4,800% ROI!
With numbers like that, it’s no wonder that email newsletters are one of the most popular ways to make money online.
But how does it work? How can you send an email to your list and get dollars in exchange?
This post will show you how to make money with your email newsletter. We’ll also share some examples of successful newsletters making a killing online.
But before we dive in, let’s answer one crucial question…
What is an Email Newsletter?
An email newsletter is a marketing type where you send subscribers regular updates about your business, new products, or important news.
An email newsletter aims to keep your audience engaged and informed about what’s going on with your company. It’s also great to build relationships with your customers and create a loyal following.
Email newsletters usually include a mix of text, images, and links back to your website. Some newsletters are also sent as HTML emails, including graphics and design elements.
How to Make Money With Your Email Newsletter
There are a few different ways to make money with your email newsletter. The most common is through advertising, sponsorships, and product placement. We’ll explore these and other means of generating an income from writing and sending eNewsletters.
1. Advertising
One of the simplest ways to make money with your email newsletter is to sell advertising space. This is similar to how traditional print newspapers and magazines make money.
In email marketing, this works by inserting sponsored content within your email. This is a very effective way to sell products or build a brand’s image because the content goes right into the readers’ inbox.
If you have a good relationship with your audience and they engage with your emails often, you could charge a premium for advertising. However, you can also charge based on the number of subscribers they have.
Fair warning: do not insert ads randomly into your eNewsletter content, as this will severely reduce the quality of your publication and likely result in lost subscribers. Instead, try to make the add ‘fit’ the theme of your eNewsletter issue, and make sure it is clearly marked as an advertisement. Keep it small but useful and your readers won’t mind its presence.
2. Sponsorships
Another way to make money with your email newsletter is through sponsorships. This is where a company pays you to promote their product or service within your newsletter.
Or you might include a brand-written blog post, contest, or some other form of content from a sponsor.
This type of arrangement benefits both parties because the sponsor gets exposure to your audience, and you get paid for promoting their product.
3. Product Placement
Product placement is a form of advertising where you promote a company’s products within your newsletter. This can be in the form of a review, photo, or mention in the text.
For example, if you’re a travel blogger, you could mention the best travel camera gear in your newsletter. This is a way to make money with your email newsletter by promoting products your audience will find useful.
4. Affiliate Links
Affiliate links are product recommendations that include a special tracking code. This code lets the company know that you recommended their product, and you earn a commission if a sale is made.
For example, let’s say you’re a food blogger and include a link to a recommended kitchen gadget in your newsletter. If one of your subscribers clicks on the link and buys the product, you’ll earn a commission from the sale.
Affiliate links are an easy way to make money with your email newsletter because you’re simply recommending products that your audience might find useful. You’ll have to sign up for an affiliate program and do your best to help your audience – and in the process, you can make a great income.
5. Sell Products or Services
If you have your own products or services to sell, you can use your email newsletter as a platform to promote and sell them.
For example, if you’re a web designer, you could include a portfolio of your work in your newsletter. Or if you’re a photographer, you could sell prints of your photos.
This is a great way to make money with your email newsletter because it allows you to sell products or services to your audience directly.
However, you should know that such emails have a short engagement span with audiences. No one wants to get ads for products in their inboxes often – it becomes spam.
If you run an eCommerce or wholesale business, consider using CRM tools and segmentation tools to personalize the emails you send.
Customers who bought something from you won’t mind if you email them with a related product or service. Or customers who have marked a product as ‘favorite’ will be interested in getting an update that the product is selling at a discount.
You can use your email newsletter to make money by selling products or services, but only if you do it in a helpful and not spammy way.
6. Offer an email course
If you’re an expert in your field, you can use your email newsletter to offer an email course on a particular topic.
For example, if you’re a web designer, you could offer an email course on how to design a website. Or if you’re a photographer, you could offer an email course on photography tips.
This is a great way to make money with your email newsletter because it allows you to share your knowledge and expertise with your audience. And if they find your course helpful, they’ll be more likely to recommend it to others.
7. Share gated email content with subscribers
Some authors and brands put great effort into writing a piece of content. And they don’t share their creations for free to the public.
Instead, they offer their best information and knowledge to a list of paying subscribers.
You can do this if you provide data, critical insights, and unique perspectives that your audience can’t find anywhere else.
For example, if you’re a financial analyst, you could share stock tips with your subscribers. Or if you’re a journalist, you could share insider information about a particular industry.
This is a great way to make money with your email newsletter because it allows you to share valuable information with your audience that they can’t find anywhere else.
Note that many writers or brands who offer paid newsletter subscriptions do heavy research and even take a month to write a single piece of work.
Conclusion
Email newsletters are touted as a great way to keep in touch with your audience. However, they can generate a solid income if you’re strategic about it.
There are a few ways to make money with your email newsletter. You can sell products or services, offer an email course, share gated content, or include affiliate links.
Whatever route you decide to take, ensure that your newsletter’s content is valuable and helpful to your audience. Otherwise, you risk losing subscribers – and money.
Syed Balkhi is an award-winning entrepreneur and online marketing expert. He is the co-founder of OptinMonster, WPBeginner, MonsterInsights, and other brands.