4 ways to make money from your email marketing.
So you want to make money from email marketing? You're in the right place, on average for every £1 spent on email marketing you make back £35 [according to DMA], not a bad return on investment! Did you know email marketing is 40x more effective than Facebook and it's a targeted audience = full of ideal clients! So how do we increase conversions and sales from email marketing?
There are a few ways you can do this and I'll explain just 4 ways below, spoiler alert most of them include asking for the sale! Yep, you actually have to promote your services in order to get a sale from them so don't be shy, they signed up for a reason!
1. Welcome Sequence You'll start with a lead magnet (offer to entice them onto your email list). Once that has been delivered to their inbox don't stop there. Set up a welcome sequence to welcome them to your business and share an introduction to the business, what they can expect to receive from you, and remind them of the offer they've just received just in case it's got lost in their spam. The average welcome sequence is around 1-5 emails long, spanned over 1-2 weeks.
A tripwire is an email marketing hack to accelerate the conversion process. The goal is to get the consumer to purchase something low-priced from you, see the value you provide, and then come in to purchase your more expensive offers. Tripwires often come with a fast-acting time-sensitive discount to encourage conversion. You can build this into your welcome sequence or have it as a stand-alone sequence. These sequences are often 1-3 emails spanned over 72hours.
An upsell is designed to make more money from the sale you've just had. For example. if you sell an E-Book via tripwire for £10 you can then offer them a masterclass or mini-training on the same topic for £50. This would be an upsell, selling something more expensive. If you're new to email marketing and don't currently have a low-cost offer you can treat your lead magnet as your 'tripwire' and offer your product/services as the upsell. An up-sell sequence would be slightly longer at 1-7 emails as it would require more nurturing to convert the sale, the higher the price the higher the sequence length and time.
4. Abandoned Cart This is a surefire way to increase sales as a product-based business. It's also one of the easiest as most of your e-commerce will have an abandoned cart feature. This allows you to directly target the customer with a unique offer. In this abandoned cart email you could upsell, down sell, cross-sell or do all 3! You'll often see big retailers do this by saying 'Have you forgotten something?' and then offering the product with complimentary options and if you don't buy this is usually followed by a discount incentive to encourage the conversion.
You would want to set this email up within the hour of them abandoning the cart to encourage them to take impulsive action.
And there you have it, 4 ways to increase sales from your email marketing!
If you haven't yet started with email marketing, I recommend you do it as soon as possible. Social media can be taken away tomorrow, you don't own the rights to anything but your email list will always be yours.
Looking for some email marketing options? Mailerlite - Great for beginners and free for the first 1000 subscribers
ConvertKit - Great if you're ready to level up and start using analytics
Active Campaign - perfect if you're looking for something advanced
[non of these are affiliates, just platforms I believe are good]