Once you’ve built a list, it may be hard to decide how to go about making money with it. It depends on the niche you’re in, because some niches respond better to certain moneymaking methods than others. In general, however, there are a few good ways to monetize the average email list.
- Your Own Product – Perhaps the best way to monetize your list is to create your own product based on a need within your niche. Almost every niche can support a good information product, and you can create one yourself or outsource the creation, then sell it to your list. The best thing about doing this is that you will probably already have a certain amount of trust built up with your subscribers, so they’re more likely to trust in the quality of a product you produce yourself.
If you’re going to promote your own product, be certain it is of the highest quality. If you put out a poor quality product, your list will remember it and will be unlikely to respond to future offers.
- Affiliate Promotions – If you don’t want to create your own product, or if you feel it’s not something you’re currently ready or able to do, the next best thing is promoting affiliate products. Whether you promote information products or physical products, be sure you’re promoting only the highest quality products available.
- Membership Sites – Membership sites are another very good option, because they allow you to get recurring income. Not all niches are viable for this monetization method, but if you’re in a niche where people are particular passionate, give it a try. You’ll get money on a regular basis with very little effort. All you have to do is provide support and update once or twice per month and you will have a source of nearly passive income.
- Solo Ads – If your list doesn’t respond particularly well to your offers, you can always promote other people’s offers in exchange for a fee. It’s a bit like promoting affiliate products, but you just promote products for other people in exchange for a flat fee upfront rather than a commission.
There are many other ways to monetize a list, but these are some of the most popular. I would advise trying several different methods to find out what works best for your own list.