Can your newsletters make money for you? Is it okay to place your content behind a paywall? What are we talking about and how to extract a lot of money out of newsletters, we are going to tell you all about everything related to paid newsletters.
If you a content creator or authority in your industry, then paid newsletters are the new money-making stream for your domain. Let’s see how this can help your brand and get you ahead in the game. They work and there is a lot that you can do. Please keep in mind that this is a potentially lucrative source for you if your content is offering high value and dripping in goodness for the readers or subscribers already. If you are trying to sell poor quality content, then you are not going to get anywhere with our paywall.
Without further ado, let’s begin on how to do it and why do it at all.
Why Choose Paid Newsletters?
Putting your content behind a paywall makes the subscribers understand two main things, your attention and advice is not for free so should not be taken for granted. And second that the subscribers need to be committed to your service if you are going to make their life better.
The commitment helps them in incorporating your advice and content into their life making it easier to implement. Money makes the relationship binding on both parties and it also makes your brand seem more exclusive and unique since not many brands will know that it is possible to do this.
Passive Income or Reliable Income?
Are you willing to put in the simple effort of incorporating a pay wall in your existing newsletter content? Well then my friend you have gotten yourself into the lucrative business of paid newsletters. The benefit of this is that subscribers are an exact amount. Ebooks, digital goods, and online products are gambles. If they sell they sell, if they don’t you have bills to pay that go unpaid.
This is why it is essential to have a reliable income stream. Many business coaches will tell you to look into passive income sources and that is great if people can buy your books from Amazon or get a free tool from you in their inbox via social media. But the sales and revenue will vary. If you have a lot of unreliable income streams then it is time for a real study one and that is bringing people to a paid subscription of your newsletter.
Do remember the power of compound effect. You may start with a list of 0 people on day 0 and it may grow to 10 people in a week. But, try it for 2-3 months or any duration that you set for your other pilot programs. You will be able to convert and scale this in the same way as you do with others, only better and stronger.
How Does This Work?
The way this works is through your follower count. If you delve in paid newsletters then you are going to need a new list. A list can be your contacts who are willing to pay. You can make this contact list using your existing contacts or start a new one primarily through new lead generation. Don’t freak out this is simpler than it sounds here’s how.
You will need to publicise the fact that you a have a premium paid newsletter service. Once your existing fan following sees that, they will need a sneak peak. You can give them the first newsletter for free. This has to be packed with value, you can add downloadable, printable goodies to the newsletter too. Let your subscribers know that a cult of people have already joined in.
You can also engage in free giveaways of the first few sign-ups. Once people have signed up they will have to pay for the service. You can set up a small fee for this. Then the next step will be setting up regular updates, and telling people the plan for the future. Just a sneak peek. This will help them stay engaged for the longer term.
Once this is done, you will be able to share premium content through personalised emails, share content and start drips for the readers who want more advice. This needs to come across as the best version of the advice available to them through your new way to reach them.
Will the Subscribers Pay?
Yes, so simply use paid newsletters to make money with content. Subscribers love content. Now no subscriber will want to pay a tonne of money to you for the content. But a small fee will not hurt them. For you, the small fee will be a big fee because you do not have a single subscriber but thousands.
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