Newsletters are the best online business to build in 2023.
Here's how to make your first $10,000 from a newsletter (even if you've never made a penny online before).👇
Here's how to make your first $10,000 from a newsletter (even if you've never made a penny online before).👇
First, there are 3 ways to monetize your newsletter:
• Affiliate - Promote someone else's product, get paid when someone buys / signs up
• Sponsorships - Promote someone else's product, get paid for the promotion
• Owned Products - Build and sell your product or service
• Affiliate - Promote someone else's product, get paid when someone buys / signs up
• Sponsorships - Promote someone else's product, get paid for the promotion
• Owned Products - Build and sell your product or service
All of these can be great.
But each has pros and cons!
Plus, each varies in the amount of work, risk, and financial reward.
Here’s what I mean:
But each has pros and cons!
Plus, each varies in the amount of work, risk, and financial reward.
Here’s what I mean:
Affiliate marketing:
Sponsorships:
Owned products:
All of these monetization options work great IF done well.
But…
• When should you start?
• Which should you start with?
• How do you make your first $10k?
But…
• When should you start?
• Which should you start with?
• How do you make your first $10k?
When To Start Monetizing
Monetize your newsletter from day 1.
If you want to build a newsletter business, you need revenue.
Don’t try and build an audience then find ways to make money later.
Here’s how to get started:
Monetize your newsletter from day 1.
If you want to build a newsletter business, you need revenue.
Don’t try and build an audience then find ways to make money later.
Here’s how to get started:
Affiliate Marketing The Easiest Way To Start
The best affiliate offers for newsletters are OTHER newsletters.
(If someone joined your newsletter, they’re probably interested in other newsletters too.)
Use these 3 networks to get paid to send subscribers to other newsletters:
The best affiliate offers for newsletters are OTHER newsletters.
(If someone joined your newsletter, they’re probably interested in other newsletters too.)
Use these 3 networks to get paid to send subscribers to other newsletters:
With beehiiv boosts or SparkLoop, you can earn ~$1-$2 (or more) when someone subscribes to your newsletter.
That means:
• 100 subscribers per month = $100-$200 in revenue
• 1,000 subscribers per month = $1k-$2k in revenue
• 10k subscribers per month = $10k-$20k in revenue
That means:
• 100 subscribers per month = $100-$200 in revenue
• 1,000 subscribers per month = $1k-$2k in revenue
• 10k subscribers per month = $10k-$20k in revenue
This is the best way to start monetizing...
But it should NOT be your only revenue stream.
After your newsletter gains some traction (1k-5k subscribers) you need to think about your long-term monetization strategy.
This will likely be sponsorships and/or owned products.
But it should NOT be your only revenue stream.
After your newsletter gains some traction (1k-5k subscribers) you need to think about your long-term monetization strategy.
This will likely be sponsorships and/or owned products.
When To Build Your Product
Think about this as soon as your newsletter gains traction.
If you have a product/service from day 1, that’s even better.
You don’t need to wait until you have 10k+ subscribers to sell something.
The earlier the better.
Think about this as soon as your newsletter gains traction.
If you have a product/service from day 1, that’s even better.
You don’t need to wait until you have 10k+ subscribers to sell something.
The earlier the better.
What Type of Product Is Best?
There’s no perfect answer.
The best answer is to build what you want to buy -- or the type of product you’re already buying!
As it relates to your newsletter topic:
• What are you spending money on?
• What products have you bought and loved?
There’s no perfect answer.
The best answer is to build what you want to buy -- or the type of product you’re already buying!
As it relates to your newsletter topic:
• What are you spending money on?
• What products have you bought and loved?
The 10 Best Product Types For Newsletters
Here are some ideas:
• Job boards
• Mastermind
• Membership
• Paid newsletter
• Paid community
• Live and online events
• Coaching and/or consulting
• Agency and/or productized service
• Courses (On-demand or Cohort based)
Here are some ideas:
• Job boards
• Mastermind
• Membership
• Paid newsletter
• Paid community
• Live and online events
• Coaching and/or consulting
• Agency and/or productized service
• Courses (On-demand or Cohort based)
When To Start Selling Sponsorships
Most advertisers won't sponsor until you have 5k-10k+ engaged subscribers.
Once you reach that threshold you should:
• Create a simple media kit (20+ examples on my website)
• Develop your inbound and outbound sales strategy
Here's how:
Most advertisers won't sponsor until you have 5k-10k+ engaged subscribers.
Once you reach that threshold you should:
• Create a simple media kit (20+ examples on my website)
• Develop your inbound and outbound sales strategy
Here's how:
The 2 primary ways to sell ads:
1) Inbound sales - Sell sponsorships to your existing audience.
Let people know about sponsorships in your newsletter, your website, and socials.
2) Outbound sales - Reach out to advertisers who are sponsoring other newsletters.
1) Inbound sales - Sell sponsorships to your existing audience.
Let people know about sponsorships in your newsletter, your website, and socials.
2) Outbound sales - Reach out to advertisers who are sponsoring other newsletters.
The Math Behind Your First $10k
If you...
• Add 20 subs a day for 3 months = 1,800 subs
• Convert 3% of subs to a $99 product = $5,346
• Earn $2 per sub from Boosts/Sparkloop = $3,600
• Convert 0.5% of subs to a $250 coaching call = $2,250
Total = $11,196 in revenue
If you...
• Add 20 subs a day for 3 months = 1,800 subs
• Convert 3% of subs to a $99 product = $5,346
• Earn $2 per sub from Boosts/Sparkloop = $3,600
• Convert 0.5% of subs to a $250 coaching call = $2,250
Total = $11,196 in revenue
That's doable with a weekly newsletter you build as a side hustle.
Plus, your total expenses will be <$150 per month.
Now what happens when you grow your newsletter to 10k+ subscribers?
Here's how BIG newsletters can get:
Plus, your total expenses will be <$150 per month.
Now what happens when you grow your newsletter to 10k+ subscribers?
Here's how BIG newsletters can get:
With 10k subs, if you...
• Sell 1 sponsorship per week at $300 = $15,600
• Convert 3% of subs to a $99 product = $29,700
• Earn $2 per sub from Boosts/Sparkloop = $20,000
• Convert 0.5% of subs to a $250 coaching call = $12,500
Total = $77,800 in revenue
• Sell 1 sponsorship per week at $300 = $15,600
• Convert 3% of subs to a $99 product = $29,700
• Earn $2 per sub from Boosts/Sparkloop = $20,000
• Convert 0.5% of subs to a $250 coaching call = $12,500
Total = $77,800 in revenue
If you have 10k subscribers, you'll never be poor.
And no one can take those subscribers away from you!
(Unlike your audience on Twitter, YouTube, TikTok, etc).
Plus, it's not that hard:
• 28 subs a day = 10k+ subs in 1 year
• 83 subs a day = 10k+ subs in 4 months
And no one can take those subscribers away from you!
(Unlike your audience on Twitter, YouTube, TikTok, etc).
Plus, it's not that hard:
• 28 subs a day = 10k+ subs in 1 year
• 83 subs a day = 10k+ subs in 4 months
Plus, there's a path to get acquired...
Industry Dive was acquired for $525M in 10 years.
MorningBrew was acquired for $75M in 5 years.
The Hustle was acquired for $27M in 4 years.
The Peak was acquired for $5M in 3 years.
Milk Road sold for 7 figures in 10 months.
Industry Dive was acquired for $525M in 10 years.
MorningBrew was acquired for $75M in 5 years.
The Hustle was acquired for $27M in 4 years.
The Peak was acquired for $5M in 3 years.
Milk Road sold for 7 figures in 10 months.
Hope this helps!
If you enjoyed this:
→ Follow @JMatthewMcGarry for newsletter tips.
→ Ask me a question below and I'll answer.
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If you enjoyed this:
→ Follow @JMatthewMcGarry for newsletter tips.
→ Ask me a question below and I'll answer.
→ RT to share it with others.
P.S. Want to go deeper?
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