Failory in December: 67,093 Page Views, 7,014 Email Subscribers and $210,47 – Indie Hackers
Hey Indie Hackers! I am Rich, maker of Failory, a content site for entrepreneurs and startup founders. A few days ago I published Failory's December repor…
That revenue seems super low based on traffic and email subs though...
Any plans to make a change there?
That's exactly what I am looking for help on!
I believe the revenue I am making should be much higher according to the traffic and newsletter I have built. I am planning to launch some paid products or a membership site, but I am not having too much time to do it. Any idea on how to monetiza a site like this one?
@PaulD makes some good points.
Otherwise, I'd take a leaf out of what Courtland did with IH back in the day, and what @patwalls is doing with starterstory.com
The nice thing about sponsors/advertisers on these small-ish sites is that they are normally constrained by traffic, not budget. So there's every chance that companies paying for visibility on sites similar to failory would be eager to pay for visibility on failory itself as well...
Consistency is key.
I am selling sponsorships and believe it is a great way to monetize Failory. I have sold one $650 sponsorship for February and probably another one for April. But I think there can be some other strategies which involve creating products or premium content that can mean some great recurrent monthly revenue even with a low conversion.
I think the best way to monetize blogs like that is indirectly through selling services / SaaS / consulting. Take UserOnboard, for example. Samuel does a great job reviewing onboarding UX of popular products, there’s a lot of wisdom to take away, free of charge. Yet he makes money by upselling people on buying his book and hiring him to consult.
Other way would be ProductHunt’s way of selling ads: similar to what you do, but doing it at a much higher price to maker-oriented SaaS. E.g., PH charges ridiculous $4–6k for a day, and yet manages to get their spots filled almost on every day by Intercom, Hotjar et al. (those who can afford such placement, given PH’s CTR of 1–2%). Just like PH, you market to makers, so if PH can get rich maker-oriented SaaS to pay them, why can’t you? Just put a proportionate price and go reach out to those big SaaS companies.
P.S. Besides, it’s not like your site has the signal-to-noise-ratio problems like PH nowadays. You do quality content, not 40-DOA-projects-every-day digests. So advertising with you should be more premium than on PH, I’d say.
Hey Paul, thanks a lot for your comment and feedback!
I have just taken a look at UserOnboard and their monetization strategy and is exactly what I would like to build. I want to keep publishing free content on the site, but also have some premium one such as books or courses. I will need to ask the audience what are they willing to pay for.
As for the advertisements, I am wondering how much clicks do businesses that advertise on PH get. I am selling a sponsorship package which can mean around 700-1,000 clicks for $650 (one month). I assume PH can mean a similar amount of traffic if, when I ended in position #1, it meant 4,000-5,000 visits. Do you think I can increase the price? More than $1 per click?
P.S. Ah yeah, about PH clicks. I assumed this, and the sales rep confirmed that promoted spots on PH got in average 1000–3000 clicks — that’s for their 300,000+ audience. I guess that’s for the day of buying out the spot (#4 product in the list marked as promoted and a "newsletter sponsor" status). Obviously that would be a poor investment for me as an indie, but is probably a good one for someone like Hotjar or Intercom.
P.P.S. What could be really smart is getting very relevant advertisers for the content of your articles, products/services that could potentially save the startup in question. E.g. there was a story of a failed food startup in Canada who shut down because of regulations — an ad for a law firm or something like that would be very apt there.
That is a really cool idea! The failure interviews currently have 14 different causes of failure. I think I can look for possible advertisers for each of these categories. Another failure category, for example, is the lack of an MVP. There are lots of companies that build requested MVPs, which may be interested in sponsoring that interview.
I’m not at all an expert in this thing, just starting out. But I think, just like PH, make your advertising spots only available (i.e. affordable) for big players with big money. After all, it’s the business and 1st class that despite fewer seats make most of the money for an airline and not economy. The only difference is that everyone already knows about PH but not so much about Failory, so you have to pitch to those advertisers yourself.
Nice! Thanks for sharing!
I dig your website as well. Looks very modern and polished. Resembles me IH to some extent — was it an inspiration perchance? Also read some case studies there, really liked the quality of the content.
Thanks a lot Paul! I was really inspired by IH ;)
Hey! Really interesting! Are you argentinean or just living here(I'm from argentina)? Good to see people making cool stuff in Buenos Aires!
Soy de Buenos Aires! Un abrazo ;)
Thnx a lot for transparent details. Highly inspiring and it's gr8 to see that u r trying a lot to make it even better and profitable.
Just a suggestion - Revenue number $210,47 is highly confusing (which actually which forced me to read the entire post :) ). Can we make it as $210.47 which is more universal?
Yeah, totally true. Here in Argentina we use it the other way ;) I will change it tomorrow! Thank you.
$210,47 as in $210.47? I found the comma really confusing (especially next to 7,014 in the heading) as I'm not used to seeing them in monetary values.
Yeah, sorry for that! In Argentina we use it like that (the other way than in USA!)
Great article by the way! Just something to keep in mind for other audiences I mean.
The site looks great and the article is pretty informative. I'm sure many founders could use this as a guide to launching their future projects.
Thanks a lot Junaid!
This was a really interesting post.
Have you ever thought about changing your name since you are not about failed startups anymore?
By the way, what are the amazing FB startup groups you are part of? Would like to join them too!
My 5c — no need to change the name. Failory sounds solid, and that’s still the primary site focus (I guess). Positive case studies can simply serve as a "not everyone fails though" reassurance for those building their products, to counter the negativity.
Hey Andrea! I have been thinking about it. But I am not sure how to do it. I would have to change the domain and redirect everything, losing some SEO power, the logo, and the name, making some people confuse, and even the text of the interviews and articles. Do you have any idea of how to rename a business?
As for the facebook groups, here are a few:
UCENT - Up & Coming Entrepreneurs
Small Business Profit Arsenal
Small Business Big Thinkers
Yes, it’s not ideal but it’s something I would consider.
Here is a good guide on how to change domain without losing rankings: https://www.hobo-web.co.uk/how-to-change-domain-names-keep-your-rankings-in-google/#is-it-possible-to-transfer-rankings-from-one-domain-to-another-
Thanks for the groups, I’ll check them out!
Thanks Andrea! I will now check out the articles.
Thanks for sharing. I found the article really interesting.