It’s no secret that monetizing your newsletter can be an effective way to generate revenue for your business, but there are a few things to avoid so that you don’t get the reputation of being a spammer company that is only interested in making money without offering any REAL value to your customers. The first pitfall is the temptation to sell ads on your newsletters. Now I know what you’re thinking, and yes, ad selling can be valuable, but only in the right circumstances, and your newsletter is not one of those circumstances. Why?
The biggest reason is that selling ads on your newsletter creates a distraction that you don’t need, because you want your subscribers reading and engaging with the content of your newsletter – not tempted by ads.
But… if you’re still dead-set on selling ads, don’t sell more than one ad per newsletter, and make sure it’s a small ad that doesn’t draw attention away from what you’re trying to say and/or sell.
Another pitfall to monetizing your newsletter is sending an email that is too long and impersonal. If you’ve properly targeted your market – which I assume you have – then your emails to your list should be short, concise and targeted to a specific goal, whether it’s announcing a new product or service, or offering a discount. You know how most subscribers react to long, rambling, unfocused emails? They delete them and wonder why you sent a spammy email that offered no value.
One last pitfall that can short-circuit the monetization of your newsletter is not paying enough attention to your email open rates. This rate is given in percentages, and is calculated by dividing the number of emails opened by the number of emails sent, and it can give you an idea of how many subscribers are actually clicking on your newsletter emails. Open rates of 20 to 40 percent are industry standard, so you want to hover in that range or higher if possible. Open rates tend to go up when emails are specifically targeted to the consumer, and when the most important information is included in the first paragraph of the email.
Now the most important thing to remember is this: targeting your market creates email content that has a much better chance of being read. If your content is specific, actionable and has real value (discounts, sales), you are more likely to successfully monetize your newsletter and increase conversions on your main site.