3 secrets to starting a paid subscription newsletter
Content marketing trends come and go – but there’s one big trend that shows no sign of slowing down. Yes, we’re talking about paid subscription newsletters. Everyone’s looking for a side hustle, and paid email subscriptions just might be the next big thing. Subscriptions in general are everywhere. From Patreon, to Substack, to pay walls, content creators and businesses are getting creative in order to make a living. Luckily, audiences are willing to pay – Substack alone has over 500,000 paying subscribers.
Think creating a paid subscription newsletter could be right for you or your business? You’ll need to do a bit of prep work before you get started. Before you hit the send button, you’ve got to come up with a game plan!
3 things you’ll need to start a paid subscription newsletter:
1. A loyal audience
The biggest hurdle when it comes to paid subscription newsletters is convincing people to actually, you know, pay you. There are tons of free newsletter subscriptions and blogs out there. Why should people hand over their hard-earned cash to read your content?
If you have an existing, loyal fan base, and a sizable email list, it will be much easier to acquire subscribers. But that’s not your only option. Cross-promotions, a solid social media strategy and a digital advertising budget are three important tools in your audience-building toolbox. As long as you understand your target audience, you can continually work towards connecting with them and, ultimately, converting them.
Whatever you do, your newsletter must provide real value to your subscribers. They’re not looking for meaningless fluff – they’re paying to acquire helpful, actionable, insightful and (hopefully) entertaining content.
2. The right paid subscription newsletter software
Substack is leading the paid subscription newsletter game because it makes the entire process super simple. However, many newsletter publishers also use a combo of tools like Stripe, PayPal, Zapier and Sendy. It all depends on what’s more important to you – convenience, or retaining as much revenue as possible.
3. A solid publishing schedule
If people are going to pay for your content, you’ve got to be consistent. That means creating a content calendar and sticking to it. Pick a publishing schedule that works for you – like daily, weekly or monthly newsletters. Then ensure your subscribers know what to expect.
Having trouble coming up with content ideas? That’s where target audience personas come in again. What does your ideal reader value; what are they interested in? What topics do they obsess over? Do your audience research, and the content ideas will start to flow.
Curious about more marketing trends? Check out the rest of our blog for more tips, tricks and insights on all things digital marketing!