13 Ways to Magically Monetize Your Email List
Come, dear reader, sit at my digital feet while I tell you the story of the first time I cried in public on a date in the middle of a comedy club because I messed up BIG on an email blast.
And of course, I’ll let you in on how to never make the same mistakes that I did.
The year was 2014. I'd just been hired at a startup in Los Angeles, and one of the many tasks on my hodgepodge list of to-do's was "send a weekly email."
That's it. Those were the instructions.
Although it was a little daunting, I'd had some experience sending emails to thousands of people before. I'd helped to open a wellness studio in Newport Beach, and I'd seen the benefit of emailing our thousands of subscribers every week. When I emailed them the class schedule, they showed up to class. When I didn't, signups were abysmal.
So I was like, "OK, I can do this. I can figure! this! out!" *internal pep talk internal pep talk internal pep talk*
When my time came to shine, I spent the better half of a Friday morning prepping the newsletter for our nearly 1,000 subscribers. I sent it off to my boss for approval, and I waited.
And waited.
I pinged my boss on Slack, "Did you get a chance to look at the email?"
And waited.
While I waited, I flirted textually with a guy I'd met on Bumble (hi, Danny!) and we made ambitious plans for a cute date at UCB Sunset on a Friday night at 7pm — a notoriously popular comedy show that's tough to get into that my date had somehow reserved tickets for.
I'd have to rush from my office to make it in, but it would be worth it. Maybe. Improv is hit or miss and so are Bumble dates.
I waited some more, not wanting to be pushy during my first month at work, because #internalizedsexism.
And then it was 6p. On a Friday. And I had to send this email out. FINALLY my boss gave me the thumbs up, and I hurriedly scheduled the email to go out at 7p and slammed my computer shut. I rejoiced in being young, single, and gainfully employed as I skipped to my car, ready to chug a gin martini and laugh at bad improv.
Unfortunately, laughs were not had by all that night — in my haste to send out this email blast, I'd left out some important links (lil whoopsie) and completely fucked up the formatting of the email so it was borderline illegible (big whoopsie).
My boss called me as I was walking up to meet my date, furious. I cried while I waited in line to go to a comedy show and while Danny tried to console me.
I wish I could tell you that was the last time I made a mistake via email, but it most certainly is not.
You'd think after our rocky start, me and email would be sworn enemies.
But I can't hate electronic mail. Not at all. Not even a little bit. Because Kris Jenner and the Devil work hard, but email works harder.
Over the last nine years, I've probably emailed half a million people through various companies and projects. And 100% of the time, I got to see with my own eyes the direct correlation between landing in inboxes and landing sales.
It didn't matter if we were selling paleo mac and cheese or virtual interior design appointments — emails always converted higher than social media.
Hitting "SEND" on an email campaign was basically like hitting a "PAY ME" button.
But if I were you, I wouldn't take my word for it (I'm a skeptic, personally, so I prefer the facts, ma'am). Here's a shocking stat: For every $1 spent on email marketing, a business makes $38 back.
I believe that's what math people call a "return on investment."
Obviously I'm biased — I think that you should start building your email list started, like, right now, because I've seen it work to help SO many people and SO many companies make cash money. Myself included. We've got a six-figure business and a healthy email list.
But when I suggest that wellness practitioners like health coaches or nutritionists or intuitives start building an email list, I hear things like:
"I literally dread opening up and creating an email, so I just don't do it."
"Every time I try building a list, I get all pumped up and excited... and then I have no idea what to email about or what to really do with my list."
"I just wish someone could do it for me."
OH MY GOD, DUDE. I get it! But these excuses are absolutely nuts! Don't let overwhelm stand between you and the piles of money and wellness for all that you dream of. [We can have both things, don't @ me.] You just have to:
Commit to a regular email sending cadence
Get EXCITED and INSPIRED by what email can do for you
We made a super-short mini-course on setting up, launching, and growing your email list in a fun and non-boring way called "EMAIL LIST MAGIC." It's FREE and you can get it here. When you go through it, you'll be able to check off boxes number one and two. Nothing more satisfying than that, amiright?
So here's the good part — THE INSPIRATION!
I've put together 13 ways you can monetize your email list that you can start implementing as soon as you have people to send an email to.
Truly, size doesn't matter here. A small list of engaged people can be way more powerful than you might think. And when you do it the right way, monetizing your list feels easy and not at all sales-y. In fact, you'll have people begging to pay you (I did! It was a weird but cool experience!)
And when you start doubting yourself and get a little shy about adding people to your email list ... come back to this blog post and get re-inspired!
13 Ways To Monetize Your Email List
Paid Newsletter
Idea:
Pretty straightforward — make people pay to be on your email list. It doesn't have to cost them much — $4 a month? $10? — to get access to premium content.
These types of newsletters work best when you're delivering something like a report, white paper, research, case study, or asset that can't be found elsewhere. Look to examples like the newsletter The Information, Scott's Cheap Flights, and the Hustle. All have a free newsletter option, and then upsell subscribers to a paid option for bonus material or VIP access.
Logistics:
To make it work you'll have to spend the majority of your time on your paid content — it's gotta be really good.
You'll also need to grow your free subscriber list and give them a taste of what they get when they pay for your paid content. Use things like a free trial period or a temporary lift on your paywall to show them what they're missing.
Content Plus (Patreon)
Idea:
This is effectively the Patreon or OnlyFans model, and pretty similar to your paid newsletter idea except you'll be delivering your content via another platform that your users log in to. Content Plus also gives you a little more flexibility in what you create — you won't need to whip out a case study every single month, because as soon as members join they'll get access to a library of your past content. That's valuable by itself.
Good examples of this are the podcasts True Crime Obsessed and That's So Retrograde (both have Patreon accounts) or author Layla F. Saad's Patreon.
Logistics:
You'll spend the majority of your time on your free content because that convinces your users to join your Content Plus subscription. Because of this, often Content Plus is behind-the-scenes content. This may work better for those who want to give users more access to their thoughts and experiences as opposed to more actionable content.
Membership Community
Idea:
If you've ever tried to make new friends as an adult, you know how tough it can be. Like, is there anything more awkward than asking someone out on a friend date? Ugh.
But we're all craving more connection and community — especially right now. Make your content free, but have your subscribers pay for your curation and administration of a like-minded community. You don't even need a ton of members to make this viable. Twenty people or more and you're set.
Examples of this are YouMoz and Founders' Network.
Logistics:
You'll need a platform to host members on — whether it's a paid Facebook group, Mighty Networks (our personal fave!) or even a Slack channel.
1:1 Coaching
Idea:
Oh, so you're a coach or a nutritionist or a health coach or an astrologer? Great! The idea of your email list is that EVERYONE on it is close to your Ideal Client — but you're one person, so you don't have the bandwidth to take everyone on at once. And by emailing your audience every week, you're showing them what to expect when they work with you.
When you have openings in your calendar, announce it to your email list! Also, set up a Nurture Sequence (an intro email series for new subscribers) that invites them to book with you at the end of the sequence.
Logistics:
If you've ever wondered how coaches stay booked 'n busy... this is it. Email is the hustle-free way to get new clients.
Online Course
Idea:
Online courses can be extremely profitable when executed correctly — and they're a great option for solopreneurs who are looking to scale themselves.
Logistics:
Building an online course can be time-intensive, but it pays you back ten-fold when done well (shout out to our Profitable Content Creator Lab alumni who are CRUSHING it!). When you sell to your email list, you can expect anywhere from a 0.5-2% conversion rate, so run the numbers on your list size to make sure that building an online course is right for you right now ... and get to work growing your list!
Physical Product
Idea:
In this virtual age, direct-to-consumer (DTC) products are crushing it. By relying primarily on digital channels and not foot traffic or in-store purchases, companies save themselves the expense of a storefront.
Good examples abound, but Glossier, Billie, and All Birds come to mind.
Logistics:
If you have the idea for a physical product, prototype it before you start making it by gauging your email list for interest.
E-Book
Idea:
Here's how to quickly make $10k:
Get your email list up to 1,500 people (I teach you how to do this for free in EMAIL LIST MAGIC)
Look at the analytics of your last 15 emails — what are the most opened titles and most clicked links?
Write an e-book on the topic that most people are interested in
Sell the e-book for $33
If your conversion rate is just 5%, you only need to sell to 300 books
Want to quickly make $5k? Do the same thing but halve the price of the book.
It costs you literally nothing to print these books (they're ... e-books). It's almost pure profit. Add some fun bells and whistles to increase the value of the book, like worksheets or PDFs, and you'll be like, "Amazon who?"
Logistics:
Use the information you learn from writing to your email list regularly to figure out what people want to learn more about.
Workshop or Event
Idea:
Host a virtual workshop course or event and promote it to your email list. We host some great ones every month at Holisticism.
Logistics:
Live virtual workshops are an excellent laboratory for you to test out content ideas before you commit to making that course, building that membership, or writing that e-book.
Intensive or Challenge
Idea:
Create a short-term container for people to learn and have accountability on for a specific skill.
For example, if you're a nutritionist you could run a "14-days Without Sugar" challenge and charge $19 to deliver daily content and create a membership community.
If you're a Tarot reader, you could do "7 Spreads, 7 Days" and teach a new spread every morning for a week to a group of people on Zoom, while walking them through their spreads and answering the personal questions that might come up for new tarot readers.
Logistics:
Super easy to fulfill and a light lift! You could easily do this once a quarter and make $5k.
Marathon Day of Offerings
Idea:
Offer a flash-sale of 1:1 readings, coaching, or your offering of choice ONLY TO YOUR EMAIL LIST. You can do this for one-day-only, and even lower the price on your offerings for the promotion. The goal is to get more new leads and to give people who might be hesitant to work with you the opportunity to see what you can do.
This is also an incredible way to make your work more accessible by offering it at a low price two or three times a year.
Logistics:
This can take a lot of energy, because you'll likely work straight through the day, so be wary about offering this more than a few times a year.
Plus, part of the allure of this is that its a special thing — it's not something you do regularly, which incentivizes people to act fast and book with you because it's a special offer.
Affiliate for Products
Idea:
Wanna make the easiest money of your life? Become an affiliate for a product and then include those affiliate links in your weekly emails. When you're an affiliate, you get a small percentage or kickback from the company you're working with every time someone buys a product using your direct link. This is how many influencers make their income.
The cool thing about being an affiliate for something like Ritual vitamins is that you can put as much (or as little) effort into promoting the product as you'd like.
Logistics:
Add your links into your weekly emails. You'll see a much higher click-through-rate and sales rate on email than you would with Instagram. You're welcome!
Affiliate for Programs
Idea:
Did you know that you can become an affiliate for programs (like that 12-week course you took from your favorite coach) and even ... people? Next time you want to wax poetic about your chiropractor, ask them to create an affiliate or referral program for you if they don't already have one set up.
Logistics:
Become a true brand advocate for the things you affiliate for — and let brands know that you love them! Whenever I find a new technical product I like, I email the company to see if they have an affiliate program so I can refer my friends and students to the company. I already know that I'll probably be talking about it TONS (looking at you, Notion) and I might as well get some benefit if I'm doing free advertising for the company or product.
Ads
Idea:
This is how most people monetize their email lists — by putting ads in their emails. But now you know better 🙂
Logistics:
Reach out to like-minded brands that your users will love and pitch them to be sponsors. The higher your click-through rate and open rates are, the more cash-money you'll get paid.
Conclusion
As if you needed more inspiration to start building your email list, now you've got 13 solid options and million-dollar opportunities to get going! Want to start building your list like, right now, ASAP? Gotchu, boo. Grab the free mini-course, EMAIL LIST MAGIC to get started building your email list!