⚡ #92: How to price newsletter ads—no matter how big yours is.
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This is GC⚡ #92 — your secret weapon for newsletter growth ⚔️
A special welcome to the 27 newest readers of the Growth Currency⚡ newsletter!
Thank you for giving me space in your inbox. 🙏
Did someone forward you this newsletter? Subscribe here »
[GC News & Announcements]
What You Need To Know
Makerbox founders launch Sponsor This Newsletter
The Sveta Bay and Dan Kulkov are the founders of Makerbox. They just launched a resource with over 100 newsletters with sponsorship and cross-promotional opportunities. Check it out »
Two Marketing & Newsletter-related Job Boards to Check Out
Job Board #1: Inbox Collective's Pallet job board
Job Board #2: Really Good Email's job board
[GC Editorial]
How To Price Newsletter Ads
No matter what size your newsletter is.
You want to sell ads in your newsletter. But you have no idea how to price them.
I feel you.
That was me 14 months ago. I sold my first newsletter ad for a whopping $25. Eight months later, I started making $1k/month in newsletter ad revenue. I share this not to brag, but to show you what's possible.
Newsletter advertising has become more and more common.
It’s a recent phenomenon that little guys like us could get a few bucks for tossing a brand into our newsletters — and actually get paid for it.
But there’s a problem: we don’t know how to set our ad rates because we don’t know…
- what our audience is worth, and/or
- what brands are willing to pay.
Like everything, there’s nuance in newsletter ad rates. Just because someone got $250 for a newsletter ad to their list of 1,000 subscribers doesn’t mean you will, and vice versa.
Sites like Sponsorgap.com share who is advertising where. But you’re still left guessing what brands are paying. And you won’t know — until you start experimenting.
The 4 strategies in this article are not an exhaustive list of ad pricing strategies. But I hope they’ll give you some ideas about ad pricing and how you can start making the ad dollars rain down.
tl;dr — I’m going to cover
→ FOUR ad pricing strategies
→ their standard rates (if any)
→ and which rate could work for you
[GC Curated: Start + Grow + Improve + Monetize your newsletter]
Your Growth Currency ⚡ This Week
"Knowledge is the currency of growth."
START YOUR NEWSLETTER
⚡ How to Write an Email Newsletter That Builds Lasting Relationships by Rebecca Matter (via Copyblogger)
My take: An interesting read to help you leverage newsletters to turn prospects into customers into repeat customers. Rebecca provides 4 steps to the newsletter writing process to help anyone start from scratch to send:
Step #1: Determine the content approach
Step #2: Map out the content elements
Step #3: Research how to write a good newsletter
Step #4: Write the content
(🔗 via Refind)
GROW YOUR NEWSLETTER
⚡ How To Grow Your Audience More Quickly With a Referral Rewards Program by Marc Maxhimer
My Take: I teased this article last week but I'm featuring it this week because of how helpful I think it truly is. I appreciate them sharing some common reward categories like...
→ Discounts or free access to premium content
→ Discounts or free brand merch or other products
→ Entries into a drawing for a big gift like an iPad, airline ticket, etc.
IMPROVE YOUR NEWSLETTER
⚡ Formatting Techniques For A Newsletter: 5 Simple Tips by Dickie Bush & Nicolas Cole (via Ship30For30)
My Take: Like with basically everything they publish, this is REALLY good. When reviewing the article for this blurb, I went and tweaked my How to price newsletter ads intro (sprinkled in some credibility).
Tip #1: Start with a clear subject line.
Tip #2: Give your readers a reason to trust you (even more).
Tip #3: Outline your main points (before you start).
Read the article for all 5 tips!
MONETIZE YOUR NEWSLETTER
⚡ How to get paid sponsorships for your email newsletter by Ghost.org
My Take: This article pairs nicely with the one I published in the GC Editorial section above. It might be the best guide that covers "it all" when it comes to paid sponsorships in newsletters 👀
(Newsletter Of The Week)
The GC NOTW 🤘
⚡Christine’s Newsletter Adventure by Christine Trac
Thoroughly enjoyable and irreverent lessons from a strength-coach-turned-copywriter.
Christine wrote an email while drunk and became a copywriter. There's more to the story than just that. And she is a wonderful storyteller.
Each week Christine shares a 2-3 minute email with insights on:
‣ How she made a career change from strength coach to copywriter.
‣ Life of a freelance copywriter in a magical marketing company.
‣ How she's overcoming challenges as a non-gifted writer while working full time as a copywriter.
Thanks for making it to the end—I try and save some personal ramblings for this space.
I got owned by a *popular* Canadian home & outdoor goods store this week.
I bought a jacket "on sale".
I saved $0.02...
Sales are just perception.
Maybe this store's been reading Katelyn's newsletter 👀
October 29th 2022
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Have a great first week of November :)
How would you rate this edition?
⚡⚡⚡⚡⚡ Electrifying!
⚡⚡⚡ A decent jolt.
⚡ Just static...
Hit reply and let me know why — I answer every one :) Or DM me on Twitter!
And in case you missed it, here are last week's TWO most popular links:
#1: Adam Ryan of WorkWeek calls out Substack as a "Ponzi Platform"
#2: I just passed 30,000 subscribers on my newsletter — how I got here by Nick Wignall
Other Growth Currency⚡ Resources:
→ The 1KS Roadmap: A Free Course To Your First 1,000 Subscribers
→ The Ultimate Creator Database of Awesomeness
→ How To Start, Grow, and Optimize a Substack Newsletter
→ Advertise in this newsletter
→ Book a Newsletter Consult With Me: 30 Mins
Peace and platonic love,
Dylan