List Building Mistake #10: Failing to Monetize

While it’s very important to provide your list with fresh, useful and free content, resources and information, you are in the business of email marketing so that you can build a profitable business and you need to get into the habit of monetizing your list right from the start.

Here are a few ways to quickly monetize your lists:

1. Affiliate Products

You can promote third party products to your list, where you will earn a commission each time one of your subscribers purchases the product using your referral link.

To begin, visit http://www.ClickBank.com and review products relating to your market from their marketplace.

You will have an unlimited number of products available to promote, covering dozens of niche markets.

2. Sell Advertising Space

There are many benefits of offering ad space within your newsletter including the fact that you can set your own price structure based on the number of subscribers you currently have the exposure that you are able to offer to potential advertisers and sponsors, increasing your prices as your list grows.

You can also consider solo mailings at a higher price once your list has grown enough to make it worth their while.

With offering ad space within your newsletter, you are in full control of the types of advertisements that you accept, so if you currently have your own product line, you could avoid promoting competing products.

In order to set up a successful advertising program, you will need to be able to provide detailed statistics and demographics regarding your subscriber base.

I recommend building your list to at least 1,000 subscribers prior to offering advertising space so that you are able to offer greater value to potential advertisers who are looking to maximize exposure for their products and services.

Advertising Tip:

When it comes to locating potential advertisers, you can sign up for a free account at http://www.Text-Ad-Links.com or http://www.Adbrite.com where you will be able to create advertising offers that feature your pricing, statistics and overall website or list theme.

3. Sell Private Label Content

Private label material is pre-created content that is available for resale, either with “transferable’ rights (where you are allowed to transfer the right to sell the product to your customers) or with personal rights where only you are allowed to sell or distribute it.

What you want to do is purchase high quality reports, articles, ebooks and other material that is of high quality and relevant to your list.

Then, spend some time re-packaging the content so that it’s an improved version of the original, and customized so that it showcases your personal style and brand.

You should also focus on purchasing private label content developed by writers who are offering only a limited number of licenses, which will dramatically increase the value of the material and minimize the amount of competition who are offering the same content.

Regardless of where you purchase private label material, you should always spend time going over the material, tweaking and improving it and increasing the quality of the information whenever possible.

This doesn’t have to be a time consuming process, and if you have purchased quality content you can easily re-package it just by editing the title, adding in a foreword, revising chapter titles, and adding in an introduction and conclusion page.

4. Create Your Own Products

With direct access to potential customers, you already know the types of products or services they are interested in, so the next logical step is to create your very own product or service catering to your existing subscriber base.

Consider surveying your subscribers to determine what types of products or services they would be interested in and create a secondary squeeze page so that subscribers can choose to join your new newsletter to receive information on when your product is ready to launch. Creating a list within a list is very important as a seasoned business owner. You would want to spend more time focusing on people who are interested in what you are going to offer. This also reduces the opt-out rate as you are not going to "bore" your main list with stuff they are not interested in.

As such, this will help you determine the overall demand for specific products prior to creating them.

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