How Simple Newsletters Make Me More Money
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Newsletters are profitable, but they’re far from passive. Here are a few popular types you can set up and profit from. A few years ago, I ran a B2B newsletter for a SaaS company. These types of branded newsletters are like assembly lines—complex and rigid. We spent a day or two rounding up content from across the business, such as blog posts, e-books, and guides. We mapped this content to the company’s latest offers. Then, we shoved all the content into a highly designed-template. It took a day or two every week. The purpose was to drive software trials and demos. I still die a little when I think of all the stakeholders who wanted to sign off on the content. This type of newsletter strategy works well if your company already sells a product or service and you need a way of keeping in touch with past customers and clients. A content newsletter can drive juicy traffic if you publish content a few times a week, say on a website, YouTube channel, or social media. You can monetize on-site via display ads or affiliate offers. This model requires lots of content and an extensive list. I followed it for a few years, sending a newsletter every Friday rounding up the latest blog posts on my sites. You need lots of content and/or subscribers to get this model working. I was more interested in driving traffic than earning directly from my newsletter. I moved away from this model as managing an assembly line of content was dull and derivative. I sold most of my content sites and related newsletters. These days, I prefer writing a direct-response newsletter for my main list. It’s the craftsman’s approach to newsletter content. My job is to write an engaging email and include a call to action at the bottom for a relevant offer. I spend 15–30 minutes per day writing these types of emails. I use personal stories and anecdotes a lot. It’s fun to write. This approach works well if your list is responsive and you like writing. You don’t need a massive email list but you must write and press send regularly. If you’re pursuing this model, try implementing a 'response trigger' in each email—a specific question or thought-provoking statement that invites replies. These responses become gold mines for future content ideas and reveal what your audience is thinking about. ​ So, how can you monetize your newsletter? Sponsored ads for newsletters are popular. I feature ads a few times a month in my newsletter, which reaches 16,000+ subscribers. Advertisers get qualified leads, readers discover helpful tools, and I get paid to write my daily newsletter. However, I don’t like relying on this model. I’d rather pitch my own offers than someone else’s. It’s more profitable. Also, advertisers can be a pain to manage. Another approach is to offer a service. For example, you could start a local newsletter rounding up events, things to do, and tourist attractions in your hometown. Then, you could pitch a digital marketing or copywriting service at the bottom of the newsletter. I’m testing this approach right now for a new project. The signs look good. Paid newsletters are hot right now. Pick a niche and charge for your best stuff. On Substack, charging for a paid newsletter is easy. Ghost is another good alternative. I run a paid newsletter for creators who want to use AI. I like this model, but it has a few big caveats. Yes, you can get paid to write a newsletter. That’s the dream for many! But you’re on the hook for creating content each week. Say hello to your new job. It’s in addition to creating an ungated newsletter, assuming that’s your primary marketing vehicle for the paid newsletter. You’ve also created a product for $5-$25 monthly. To earn more than pocket change, hundreds of people need to buy it. Typically, paid newsletter subscribers cancel after three to four months, too. It’s easier to convert five or ten readers into paying clients with free content than scaling a paid newsletter. But my paid newsletter helps me land clients, and I like writing it. If you don’t want clients, you can also monetize by launching products and offers via a newsletter. A typical cadence involves one to two monthly launches over five to seven days. Don’t forget to factor in urgency and scarcity. I enjoy writing newsletters so much that I run three of them. Right now, I send a daily to an extensive list of creators and writers. I also run a paid newsletter for business owners who want to use AI. And, I write a weekly local newsletter about events and things to do in Leinster, Ireland. I don’t recommend running three newsletters. I only got here because I’ve tried and tested a few models over the years. I can help you set up a system like this. It's all covered in my special Easter Email Empire bundle. |