Newsletter monetization is always challenging. I spoke with my friend @petecodes to figure out how he does it. He's able to generate over $1400/month in sponsors with a newsletter size of 6k.
In this episode, we’re going to dive into his method of achieving this awesome revenue milestone, how we can apply his methodology to our newsletters, and the mindset you’ll need to land high-paying sponsors consistently.
If anyone runs a sponsorship-based newsletter, this might be useful to you. I learned a lot!
Show Notes & Insights:
- Newsletters that target customers who are willing to spend money to make money will have a much easier time selling sponsor slots for a higher price. Newsletters that target hobbies are going to have a harder time selling sponsors for a higher price. The ROI for the sponsor just isn’t there.
- Some topics just aren’t built well enough or have enough support to derive their income from sponsors. That doesn’t mean that topic can’t generate revenue. There’s always paid premium options and memberships.
- The larger your network, the easier it is to find sponsors.
When finding sponsors first start with who is your audience. Then figure out what companies are interested in reaching that audience. From there, reach out to those companies and provide them with the reasoning as to what they want to sponsor your newsletter.
- If your newsletter grows 20%, price your ads 20% higher. You’re delivering more value to people.
- If you don’t ask, you won’t get it. Reach out and simply ask if a company is interested in sponsoring your newsletter. The worst that can happen is they say now. You should be getting out of your comfort zone.
- A really easy formula to find newsletter sponsor price is 5% of your total subscribers. So with a 4k list size, an average sponsor price would be roughly $200.
More insights and to listen, checkout the link below.