My first Newsletter is out, but now?
Hello,
I've launched my very first newsletter TheSum.
It's a "simple" daily and free newsletter for investors that summarizes the latest financial news with a market recap.
I'm a developer but actually, the newsletter is hosted on substack. That's because I want to test a bit before investing time in web development.
At the moment I've published #4 posts, shared them on Reddit and Hacker News but I'm not gain subscribers.
The last post did well with +/- 250 total views but did 0 new subscribers.
Is that normal? How can I improve the conversion rate?
Any advice on how to grow this newsletter? I haven't a community to engage, but maybe I can run some ads on Facebook.
Thanks for your time :)
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Try offering a lead magnet instead of "newsletter". You'll get better opt-in conversion rate.
In the eyes of cold website visitors, they view you as a stranger since they don’t know who you are yet.
Cold visitors / strangers don’t want to join a stranger’s newsletter. They’re already subscribed to many newsletters. And they don’t know if you’re legit (read: provide helpful content for them or not).
Saying “Join our newsletter where we’ll provide you with the latest tips on X” will not motivate them to sign up. What EXACTLY will I get if I enter my email? Latest tip is vague. What latest tip are you talking about? Will it solve my problem now?
Provide immediate benefits that people can visualize right now. A good, old-fashioned short pdf or video or email series is more enticing.
I'm currently almost finished writing the first half of the email marketing guide for indie creators. I think it'd be helpful for you. Would you like to receive the draft copy when it's ready in the next few days?
Hello WellyMulia, and thank you for your time.
That's true, cold visitors that don't know anything about me and TheSum ( that should be the "brand" behind the newsletter), probably won't subscribe. But seems hard to give a lead magnet with Substack. Every email is public and anyone can access them without giving out the email address.
The benefits are:
Maybe I can create a file where I'll show some stats on how my newsletter can improve investment decisions and allow them to earn more money from their investment?
Let me know.
I'll absolutely want your guide! Keep me up to date :)
Hi Niketas
If substack is the bottleneck, you can always change ESP.
Maybe I can create a file where I'll show some stats on how my newsletter can improve investment decisions and allow them to earn more money from their investment?
=> This is definitely more enticing that signing up for a newsletter. If you have case study of real numbers, use that too.
What's your email address so I can send over the draft?
All right! Will absolutely work on it so.
You can send the draft to nikitazanella.ads[at]gmail.com
I'd say it's not unusual. My newsletter still floats around 50-60 subscribers a year and a half after starting it and I can't break that ceiling.
I'm afraid I don't have much advice but I wouldn't subscribe to a daily newsletter. It's overwhelming to get all that content to read every day. The only daily newsletter I subscribe to is Indie Hacker's Growth Bites, whose issues are really short.
Hello Paolo!
Any investor must be up to date with the latest news before markets open. That's why it's a daily (not 7 days a week but from Monday to Friday) newsletter. It makes sense, right? Precious data to power up investment decisions.
Thank you, Paolo. Appreciated!
It definitely makes sense. Your newsletter is a tool.
Hi, congrats on the launch.
Why did you mention you wanted to test a bit before investing time in web development? Because you want to create a site for the Newsletter to signup to Substack or because you want to build your own newsletter system?
I "problem" I always see is except for previous mails (which I would have to read anyway.)most of the time there's nothing that convinces me - like a small website.
Also like @PaoloAmoroso mentioned - depends on the frequency.
I always add Substack-Newsletters to Feedly which lets me process them better than yet another email in my inbox which is probably why some readers are not shown in the Substack KPIs. I also subscribed to TheSum on Feedly btw. 🙌🏼
Since you mentioned " I haven't a community to engage, but maybe I can run some ads on Facebook":
It seems you know exactly who your target audience is, which is a huge benefit over other ideas, products etc. So instead of running ads on Facebook I'd first join some groups there, or join conversations on VC/Stock twitter which would tell you a lot about what your potential readers want to read about.
Hello KVN! Thank you very much.
The idea is to recreate my own "substack" without relying on other services, thus being able to customize and expand the project to my liking.
I should probably improve the quality of my newsletter with something that works like a magnet. I'm working on it.
I know the target audience personas, but your advice on joining groups and conversations could really work as a starting point. Will try!
Thank you for your time and advice, really appreciated it!