Many times I have written or spoken about the advantages of list building and email marketing. Most of the aspiring digital marketers are still unaware of the fact that none of the digital marketing models is sustainable without a proper list building strategies. This post will clarify facts about various email marketing strategies by giving examples of email marketing. They (like I used to) think that let me earn some money before I invest in email marketing strategy. Others believe email marketing is merely collecting subscribers and emailing them your offers. This notion is not correct. Email marketing is a complete business automation. Hence, It is one of the best strategies to generate passive income.
So, to prove my claim of passive income, let me show you a few email marketing statistics.
Before I give you the figures, let me clarify a few terminologies related to digital/email marketing.
- The total number of subscribers: This is the very obvious one that denotes your number of contacts in your list.
- Email open rate: How many of your subscribers that actually open the email that you sent to them.
- Click through rate: Out of all the people who opened your email, how many clicked on the link mentioned in the email.
- Conversion rate: How many people who clicked the link, actually completed the purchase.
Now, let us assume, you have a contact list of 10000 subscribers. Industry’s average email open rate is 20%.
So, for a list of 10000 subscribers, 2000 subscribers open your email.
Average, click-through rate in the industry is 4%. So, out of 2000 subscribers that opened the email, 80 subscribers clicked your link.
Conversion rate averages about 2%, so with the following formula, you will have Number of sales per email will be = 2X80/100=1.6 sales
Conversion Rate (%) = Number of sales / Click through rate X 100
If your profit on each sale is approximately $40, you make about $40X1.6=$64 per email and in case you email your list every 2 days, you approximately make $960 per month.
Here, I would like to give you a word of caution, all these email marketing related statistics depends upon the quality of your list, your product that you are trying to sell and the format and the content of your list. Today I wrote this post to give an example of email marketing. But first, watch the video below to know why I named this blog post “Zen and the art of email marketing”.
Is Email Marketing Dead
Whether email marketing is dead or not, depends upon how you look at it. If you have somehow built a contact list and have started bombarding promotional emails on your list like spam, well, after a few weeks only you will come to know that it is not working. And you will immediately declare it dead. However, if you are building a relationship with your contacts by sharing useful information, you will find email marketing the most laser-targeted marketing tool.
An Overview of Email Marketing:
How Do Email Marketing Campaigns work?
I made a short video to explain how exactly I use GetResponse. I won’t say it is very easy but I would emphasize that it worth all the hard work. Watch the video below where I have made one full campaign on GetResponse platform and at the end, I am sure you will be convinced that it is such a powerful tool to have if you want to build a sustainable online business. I believe in showing how things work rather than explaining them and I have achieved that by giving examples of email marketing.
I use GetResponse and I find it very useful. However, these steps are very similar for all other platforms. If you join GetResponse now, they are giving one month of free subscription for you to try. You don’t even have to give your credit card details. I personally feel it is a very lucrative offer for you to try and develop your first email marketing strategy.
Are You Suffering From Shiny Object Syndrome?
I am asking this question because, unfortunately, today the market is full of such shiny products. Heaps of people are selling info-products claiming tall claims what is just not possible? You get convinced because you are unaware of the basics of digital marketing concepts. I would like to convince you by citing an example.
In 1800s New Zealand went through gold rush madness. Gold was detected in a few rivers here and there. Thousands of people rushed to various locations exploring for gold. These were the people who got struck by shiny object syndrome. They lived their life with wishful thinking and unfortunately, the world doesn’t move through wishful thinking.
Now, coming to the more interesting set of people. During the gold rush, a group of people anticipated the tools required for gold exploration and they started manufacturing shovels and pans. These were the people who became millionaires during the gold rush era. That shows the difference between the people who are opportunity seekers and opportunity makers.
Moral of the story is that try to be opportunity maker and not opportunity seeker. And you can achieve that understanding and implementing the basics of digital marketing and not buying products that claim that buy this, click a push button and make money. Believe me, nothing like that exists. If you want your part of the pie in the world of digital marketing, take action now. Start your first email marketing campaign for your product or service and then start driving traffic to your landing page. Hence, this will not only make you, your first online dollar but will help you generate passive income for the rest of your life. And I will help you achieve that by giving examples of email marketing concepts.
Join GetResponse free now for one month (Credit Card details not required). Continue with the subscription if it works for you. In other words, lay the foundation of your dream today.