My weekly newsletter is currently 2,300 subscribers and we were contacted by our first sponsor when we reached 2k. Open rate is above 55%, click rate is 30%.
I find 100€ by 1k subscribers satisfying so today 200€ is the price for sponsoring one issue and I'll increase it when reaching 3k. As you guess, it's completely arbitrary. If I stop finding sponsors, I could lower the price of course.
But I think I provide great value for sponsors by allowing them to be visible in a niche market. I'm also developing alternatives to sponsors by offering referral links for products I like related to this niche the weeks I don't have sponsors.
When speaking about business partner, just guess a price low enough to get the first deal.
When speaking about customers, it is always good practice to reward loyality than giving discounts. Maybe try to set a paywal only for the new ones. Or consider building a case for asking for donations.
Whatever you feel people will pay. That's how I looked at it. I would compare it to what I thought/knew others would charge (in my niche) and then set a fair price accordingly. As things got more popular I would increase the price slowly for existing customers, but charge new customers even more (as I never listed the prices publicly).
Thanks @rosiesherry It’s a difficult one to come up with a starting figure. I’ll need to have a think about what I feel people are likely to pay. Yes, no prices online. Only a list of what you get and you can contact to discuss costs
My weekly newsletter is currently 2,300 subscribers and we were contacted by our first sponsor when we reached 2k. Open rate is above 55%, click rate is 30%.
I find 100€ by 1k subscribers satisfying so today 200€ is the price for sponsoring one issue and I'll increase it when reaching 3k. As you guess, it's completely arbitrary. If I stop finding sponsors, I could lower the price of course.
But I think I provide great value for sponsors by allowing them to be visible in a niche market. I'm also developing alternatives to sponsors by offering referral links for products I like related to this niche the weeks I don't have sponsors.
Thanks @chaica I like the idea of 1k = $100. I feel I can justify this if cost is questioned by a potential sponsor. Good ideas here!
When speaking about business partner, just guess a price low enough to get the first deal.
When speaking about customers, it is always good practice to reward loyality than giving discounts. Maybe try to set a paywal only for the new ones. Or consider building a case for asking for donations.
Thanks @slavomier good ideas here!
Whatever you feel people will pay. That's how I looked at it. I would compare it to what I thought/knew others would charge (in my niche) and then set a fair price accordingly. As things got more popular I would increase the price slowly for existing customers, but charge new customers even more (as I never listed the prices publicly).
Thanks @rosiesherry It’s a difficult one to come up with a starting figure. I’ll need to have a think about what I feel people are likely to pay. Yes, no prices online. Only a list of what you get and you can contact to discuss costs