It is OK to be excited about making money because no one expects you to work for free or offer your products for nothing.
The very best part about being a giver is that when you do it willingly and wisely, the money will follow. As you build trusting relationships with your subscribers, your income stream will continually increase. They will not only buy from you, but will seek out your recommendations when they want to buy other things as well, which opens up a secondary revenue stream.
How to Make Money with Your List
You can make money in a number of ways. Three widely-used methods are:
- Sell your own products
Create “in-depth” info products that you sell through your own Website. Or . . . write e-books for Kindle, with hardcopies available through Createspace. The topics should be directly related to your niche. In other words, relevant to your subscribers.
The more products you have to offer (based on your expertise), the more of an authority figure you will become. If you lack the time or the talent for this aspect of the business, hire a ghostwriter to create your products.
- Promote other people’s products (Affiliate Sales)
Be careful with this. You can lose subscribers if you push and promote everything that comes out. Affiliate marketing (promoting other people’s products) can be very lucrative, but be selective. Make sure that any offer you send to your list is a good choice and can add value to your customer’s lives.
Never abuse your list by doing favors for friends and acquaintances. Everything you promote should be relevant to your niche – in fact, if at all possible review the product before you promote it. You need to be a Mother Hen and protect your list. If you do, you will reap the financial rewards in the long run.
- Offer mentoring/coaching services
If you feel comfortable doing so, offer mentoring/coaching services to your subscriber base. This can be a “golden” opportunity once you have established yourself as an authority in your niche. Some people will be happy to join a coaching group, and others will gladly pay more for one-on-one coaching that gives them personal and business insights, provides a broader knowledge base, and/or helps them develop new skills.
If you have joined us for the first time, the series starts with: Building Your List – Finding Gold vs. Doing Good.