List Building – Monetize Your List, Do Not Just Give Stuff Away
Although it is great to provide your list with useful free content, resources and information you also need to monetize your list so that you achieve your goal of building a profitable business.
Here are 3 ways to monetize your list.
Offer Your List Subscribers Affiliate products.
Write simple reviews of third party products and email them to your subscribers using your referral link so that you get paid a commission when any of your subscribers purchase these third party products. An almost unlimited supply of products in many niche is available through sites such as ClickBank, PayDotCom and similar sites. Remember that it helps to offer your subscribers a special gift if they buy products through your referral links as you are seen to have created even more perceived value in the deal.
Sell Other Marketers or Businesses Advertising Space.
If you have a a regular newsletter and depending on your reader base you may be able to sell advertising space in it to other marketers in the same or related niche. You may also be able to sell advertising space on your blog or website for a fee. Good thing about this is that you can set you own fees depending on the number of your subscribers or visitors and increase your fees as your subscriber base or traffic to your site increases. You are in control of which advertisements you publicize and do not risk of running competing products or products you do not like for one reason or another.
You could also consider single mailing for a fee or a similar arrangement with other marketers. However you need to have a list of at least 1000 subscribers before it is worthwhile approaching other marketers.
Create Your Own Unique Products.
Because you have built up a relationship with your subscriber list you now know the types of products that interest them. So all you need to do is create a product that is similar or an extension of this subscriber interest. You could also send out a simple survey to find out what else your subscribers are interested in buying and use this information to create a product for them. If you add a sign up box to your survey for people interested in your potential product then this will give you an idea of how much real interest is in your suggested product.
Creating your own product also gives you the right to amend and enhance your product as things change in your niche or market.
