Email marketing is well-known for being the best way to earn money from your audience.

An email list of 3000 people is often much more valuable than a YouTube channel with 1 million subscribers.  Similarly, it is more valuable than 1 million Facebook or Instagram followers.  This may seem counterintuitive, but people who actually earn money online know this from experience.

Because each email subscriber is so valuable, the ability to grow your email list (with the right type of subscriber) is hugely important.

Most email marketers know that using lead magnets is one effective way of growing an email list.  Basically, you offer an incentive to a reader of your website in exchange for their email address.  You could offer a free ebook, a discount coupon, or some other reason to get them to offer up their email.

Lead magnets are great, but there is a new way that is equally important to growing your email list. 

This is an email referral program.

Think about it.  The subscribers on your email list almost certainly know other people who would be a good fit to recieve your emails.

Birds of a feather flock together!

You have already “bribed” them to get on your email list in the first place.  

Note:  This is an “ethical bribe”.  You basically traded something like a free ebook for their email address.

So why stop there?

You can now “bribe” or incentive each of your email subscribers to find you new subscribers by getting them to get their friends to join your email list.

How?

You use a second “magnet”, or a “reward”.  You could give each of your current subscribes another ebook, or a special discount, or some other incentive to get someone else on your email list.

This referral system is incredibly powerful, and can put your email list growth on steroids.

This is why we recommend using Beehiiv to grow your email list.  

They offer this as an easy-to-use feature that is built right into the emails.  You won’t need to code anything or set anything up.  You just choose your rewards or incentives, and Beehiiv does everything else.

One amazing thing about referrals, is that they are exponential in nature, as opposed to the linear nature of typical email subscriber growth.

I’m a math geek, so to illustrate this point I imagined the following scenario:

Imagine you currently have 3000 email subscribers.  Now suppose that 5% of your email subscribers will get one new friend to join your newsletter per week.  

How many subscribers do you think you will have after 2 years?

Here is a graph showing the math:

That’s right, you’ll have 479 521 subscribers after 2 years, just from the referrals.

Of course this is just one example with numbers I made up, but you get the idea.  Using the power of leveraging your current email list can grow your list enormously.  This referral feature alone is enough to make Beehiiv a great choice.

Some of the links in this post may be affiliate links. We might earn a small commission at no extra cost to you. It’s one way to support us and keep things running. We also only put affiliate links we believe in fyi.