Part 11: 7 Ways To Make Money Using Your List
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As you know by now an opt-in list crucial to any site or business that wants to profit by using the Internet. Even for a small venture an opt-in list makes a world of difference.
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An opt-in list allows for a company to market their products using email. With an opt-in list a subscriber consents receiving a emails from your company. Through this, you can keep your subscribers informed about of what is currently available in your site as well as whatever is coming out.
In addition to increasing sales for a business an opt-in list can also be used to generate extra profit. Not all lists can be used though so don’t start here.
- The primary goal is to increase revenues by finding local customers that want the kind of products and services offered by the business.
- The secondary goal is to expand the business’ market by offering products and services that would otherwise be impossible to accomplish locally.
That said, here are seven ways to make money using nothing more than your list. This list is certainly not complete or an exhaustive study of the subject. Each is a pure eCommerce technique and there are tons of materials on the Internet to learn about them if you decide to implement any of these strategies.
1. Place advertisements. There are many corporations who will be willing to pay to put their banners and ads on a list with many subscribers. Your newsletter could be placed with many ads and each one spells money.
2. Have affiliations with other companies that are interested in promoting their products to your list. The companies will provide links and brief descriptions of what they offer. With every click made on the link that directs or leads a subscriber from your list to their site, the company will pay you.
3. Make deals with other companies by asking for a small percentage of sales done through your list. With every sale from that comes from your list a portion will be paid to you. The more people who buy from them, the more earnings you get.
4. You may also get products from other sites on a consignment basis and sell them to your list using your newsletter and other correspondence. Place descriptions, articles and photos of the product in your newsletter. There will be those who will buy from you and when that happens, you can order the product from the other site and sell it to your buyer.
5. Sell ebooks or a compilation of your articles on your list. Manuals and how-to articles are in great demand. Many people will be willing to shell out money to gain knowledge about a certain topic and subject. With your existing list trusting your expertise in that area, an ebook could be offered and sold or used as an incentive.
6. Create a network out of your list. Get people to invite more people to view your site and subscribe to your list. The larger your list is, the more people will be able to click on your links and affiliate links as well as make your advertisement rates higher.
7. Subscribers are willing to pay for information if they know that it can be trusted and relied upon. Use your list to get more and more people to subscribe to you as well as browse your site. When you have a lot of site traffic and subscribers either convert your site to paid membership only site or create another site where people can only get the information if they pay for it.
There are many ways to increase revenues, especially for successful well visited sites. Creating subscriptions, membership only sites, and pay per click advertising are just three examples. The competition is fierce however and everyone wants to be the next Internet millionaire working from their kitchen table in their underwear. For a local business let me suggest the most important area to expand into before any of these.
Establish good relationships with other local businesses and work together for everyone’s success. If you sell hardware become affiliate with builders, contractors and real estate agents. Cross market each other’s products, websites and services. Send out each others offers and information. Perhaps build a website together as a kind of web portal - a one stop shopping and information site where the buyer can get information on related companies and products.
Combining efforts exponentially grows your list. You aren’t limited to only your customers and prospects any more. Additionally this actually adds to your credibility and value. No one company has a total solution for a customer. A roofing company provides roofs. What about getting siding or a paint job done. Sharing leads and lists in an ethical manner (remember permission marketing) is the quickest and surest way of growing your business quickly.
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Did you know that 70% of all buyers buy from the web and 36% of all customers use the web to find local businesses?
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