5 Questions I Had About Newsletters Before Starting One (And the Answers)
Issue #101 of SoloCreator
Brought to you by SparkLoop* - the best way to monetize your newsletter
Email lists are all the rage right now.
It’s the middle of 2023 and every creator has one.
If not, they're certainly thinking about it, dreaming about it, or trying to figure out where to begin.
The problem with newsletters is the perception:
A newsletter is free and the immediate impact isn’t huge, but the upside is sky-high.
Here’s what I falsely assumed about starting a newsletter before I started a newsletter.
Why would I need one?
Logical first question.
The truth: Nobody needs one.
The better truth is that everyone should have one.
Here’s where many people go wrong:
You don’t need a newsletter to start an email list. They're not (necessarily) the same.
You should be collecting email addresses from all your outlets like blogs, social media, and more.
You don’t have to write a weekly issue right from the start.
The point of an email list is to have a place for your true fans to stay connected with you. Start collecting email addresses. Don’t force writing without anything to say.
Why free?
This is a biggie.
When I started my newsletter, I was making 4 figures on Medium. With the newsletter, I’d be making squat.
So, why do it?
The simple cliché: Play for the long term.
Newsletters or email lists aren’t get-quick-rich projects (usually). They’re long-term builds.
Initially, you might be “giving away” value, but the upside is huge. Sponsored content, ads, partner programs like SparkLoop*, or a paid version, there are dozens of ways to monetize a newsletter if the time is right.
What’s the right time? When you feel you have enough true fans that would take what you offer.
What’s the immediate impact?
Directly related to the previous point is this next question. What’s the immediate impact? I had that question.
I was making good money elsewhere and had several ongoing projects, like Medium, digital products, and YouTube channels.
So, why a newsletter?
The immediate impact is connecting those independent or unrelated projects by collecting email list members (or true fans) from every project.
A newsletter or email list isn’t necessarily a writing project like a blog. It might be a marketing instrument, a way to gain specific insights into your audience, or a simple communication tool.
I thought I’d have to write thousands of words each week to run a successful newsletter (and you can), but that’s not all there is. Some newsletters only consist of a couple of sentences. And they still have a humongous impact.
Size isn’t central, the use case matters.
Core business?
Should that newsletter become one of my central businesses?
This is a crucial question because it directly dictates the amount of time spent on this project.
If it’s just an afterthought, it doesn’t make sense to devote a large portion of your working hours toward the newsletter.
However, if the newsletter is supposed to become one of your major outlets, you need to attribute a fitting amount of hours to it.
I dedicate a set amount of hours to my 3 newsletters, based on the time I have available and the importance (and size) of each newsletter.
Quick intermezzo: If you like my content, you may enjoy my non-creator-related essays:
What tool?
Finally, and this might be one of your leading questions: Should you pay for an email list or newsletter platform?
This is a huge decision because email marketing can get expensive!
Here’s how to find an answer:
Figure out what you need!
A simple newsletter regularly (daily, weekly)
a marketing newsletter that comes out whenever you have something to offer
or an automated newsletter that sends out issues based on automated triggers
These are the main 3 types (in my experience).
If you fall into category 1, use Substack*, be happy, and be free (literally, no costs).
If you’re number 2, there’s a decision to be made. You can still use Substack for free, or begin with a simple tool that offers newsletters as well as automated sequences in case you need them. I’d go with EmailOctopus* or MailerLite in this case.
If you’re in group 3, you can’t use “simple” writing tools like Substack, you require advanced email marketing tools with automation. Those will cost at some point. You get a set number of free subscribers on each platform, but eventually, you’ll have to pay. The best platforms (IMO) are ConvertKit, Beehiiv, or MailerLite for this group, ConvertKit being the most expensive at higher subscriber numbers, followed by MailerLite. Beehiiv offers a flat fee, a huge plus for large email lists.
For reference, I still run my main newsletters on Substack for free. My product-focused email marketing with simple automation is done via Gumroad (a good option for people who create & sell digital products), and I have accounts with EmailOctopus & ConvertKit (free tiers) to connect with SparkLoop* and integrate a signup form on my website.
The bottom line
Newsletters are a huge business in 2023.
Anyone can start one and benefit. The reason not everybody does might be one of these questions above that I had running around in my mind before finally starting my newsletters.
Was it worth it?
Yes! I’ve grown three newsletters to 2,500 subscribers, made a good amount of money through digital product sales via newsletter issues, got SparkLoop* payouts, had ads & sponsored content, and driven readers to my Medium or Vocal stories.
I didn’t pay for my email lists & I don’t spend all my time on newsletters. To me, that’s a win.
What’s holding you back?
Brought to you by SparkLoop* - the best way to monetize your newsletter
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Thanks for sharing :)