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If you aren't the best in the world at what you write about, you should not have a strictly paid newsletter.
You are better off using a newsletter as your top of funnel to drive people to other monetization opportunities.
You are better off using a newsletter as your top of funnel to drive people to other monetization opportunities.
1/n Clearly this was more controversial than I thought, so let me clarify my thoughts:
2/ First, let me start off with what i am NOT saying:
I am not saying if your content is not good enough for people to pay for it, you should not write on the internet. In fact, I am a huge proponent of the opposite. Write! Content is incredibly powerful.
I am not saying if your content is not good enough for people to pay for it, you should not write on the internet. In fact, I am a huge proponent of the opposite. Write! Content is incredibly powerful.
3/ I am also not opposing "the market will decide" argument.
Sure, go ahead. I am just giving advice on what I believe you should do right now if you are considering creating a paid newsletter, with all the content behind a paywall.
Sure, go ahead. I am just giving advice on what I believe you should do right now if you are considering creating a paid newsletter, with all the content behind a paywall.
4/ However email is an incredibly powerful medium. Email is an intimate opt in relationship where you own the audience
You dont own your TWTR followers and if you want to understand why not just ask the media companies who spent years and millions building up "followers" on FB
You dont own your TWTR followers and if you want to understand why not just ask the media companies who spent years and millions building up "followers" on FB
5/ So, why not an exclusively paid newsletter?
Unless you are excellent (top .01% in your ability to articulate thoughts about what you're writing about), you are forgoing owning a relationship with many people who like your content, just not enough to pay for it.
Unless you are excellent (top .01% in your ability to articulate thoughts about what you're writing about), you are forgoing owning a relationship with many people who like your content, just not enough to pay for it.
6/ A paid newsletter is a big deal. It's a commitment. Committing to paying for someone's newsletter is a commitment to pay for a long-term relationship, where you spend time each week, at minimum, reading what that person writes and thinks. People have only so much time.
7/ The alternative to a paid newsletter is (obviously) a free newsletter.
A free newsletter will grow much faster. There will be many people on that list who may not want to give you a hundred(s) bucks a year as a subscription, but may want to give you money for other things.
A free newsletter will grow much faster. There will be many people on that list who may not want to give you a hundred(s) bucks a year as a subscription, but may want to give you money for other things.
8/ Those things include:
- Consulting
-Advising
- A job
- Digital community
- Events
etc. etc. etc.
You can also place niche advertisements in your newsletter. A 1 person ad business can be VERY lucrative.
- Consulting
-Advising
- A job
- Digital community
- Events
etc. etc. etc.
You can also place niche advertisements in your newsletter. A 1 person ad business can be VERY lucrative.
9/ Common pushback #1:
"Why not just charge less?"
Sure, you absolutely can charge less. But that just makes the paid newsletter even less valuable compared to a free one as a funnel to something else
"Why not just charge less?"
Sure, you absolutely can charge less. But that just makes the paid newsletter even less valuable compared to a free one as a funnel to something else
10/ Common pushback #2:
"Why would someone give you money for something else, but not a subscription?"
These are very different. I may be a 4/10 writer, but a 10/10 teacher. I may be excellent at curating speakers for an event. Etc. Etc.
"Why would someone give you money for something else, but not a subscription?"
These are very different. I may be a 4/10 writer, but a 10/10 teacher. I may be excellent at curating speakers for an event. Etc. Etc.
fin.
People should do what they want. But if you're looking to build a content business, you better write a 10/10 newsletter if you are going to limit the total subscribers you own.
That is a powerful relationship, and one that is clearly being underestimated.
People should do what they want. But if you're looking to build a content business, you better write a 10/10 newsletter if you are going to limit the total subscribers you own.
That is a powerful relationship, and one that is clearly being underestimated.
