Have you ever thought about making money with your newsletter?
Maybe it’s been a thought in the back of your mind, or maybe it’s something you’ve been wanting to do for a while.
Either way, it’s totally possible to turn your newsletter into something that doesn’t just inform and entertain, but also brings in a little extra cash.
Now, you might be thinking, “How can I make money from something as simple as a newsletter?”
It’s not as hard as it sounds! There are quite a few ways to do it.
Some people let businesses put ads in their newsletters. Others ask their readers to pay a small fee for special content. You could also sell your own products or services, or recommend other people’s products for a commission.
I believe anyone can make a successful, money-making newsletter if they have the right information.
Let’s uncover some of the simple yet effective ways on how to monetize a newsletter from scratch.
Can you make money from a newsletter?
The one-word answer to this question is…Yes, you can definitely make money from a newsletter.
But it’s not just about sending emails. You need to give your readers something they’ll love. Something they can’t wait to open and read. If they find your newsletter useful or interesting, they’ll be more willing to support it.
To make money, you first need to have people who read your newsletter regularly. So, focus on what your readers like. Give them helpful tips or tell them something new. Make your newsletter special.
When you have a group of loyal readers, you have a chance to make money.
But always remember, your first job is to make your newsletter great. If you start thinking only about the money, your newsletter might lose its spark. And people won’t want to read it anymore.
If you decide to ask your readers for money, be honest about why you’re doing it. Maybe you need the money to make your newsletter even better. Or maybe it will help you spend more time on it.
If people know why you’re asking for money, they might be more willing to give it.
Blogging vs Newsletter: Which is Best?
Choosing between a blog and a newsletter depends on what you want to achieve and how you prefer to communicate with your audience.
A blog is a type of website where you can write about your ideas, thoughts, experiences, or knowledge.
The great thing about a blog is that anyone can read it. They just need to visit your blog’s website.
This means you can reach many people, even ones you don’t know yet.
If you like to write long, detailed pieces of content or want to share lots of pictures or videos, a blog could be a good choice.
Blogs also help with search engine optimization (SEO), which means your blog can show up when people search for related topics on Google.
A newsletter, on the other hand, is an email that you send to people who’ve signed up to receive it.
Newsletters can feel more personal because they land right in your reader’s inbox. This can make your readers feel special like they’re part of a private club.
Newsletters are great for sending shorter, more frequent updates. They’re also good if you want to have a direct conversation with your readers.
You can use them to share personal stories, offer special deals, or ask for feedback.
Which is Best?
The best choice depends on what you want to do.
If you want to reach a lot of people and don’t mind writing long pieces, a blog might be best.
If you prefer a more direct connection with your readers and like sending regular updates, a newsletter could be the way to go.
And if you can’t decide, why not try both?
How to Monetize a Newsletter?
Getting businesses to sponsor your newsletter is a great way to earn money from it. Basically, companies give you money to put their ads in your newsletter.
It’s similar to how a company pays to have its banner displayed at a sports game.
How to Get Started With Sponsorship?
Identify Businesses That Match Your Content and Readers
The first thing to do is to find businesses that go well with your newsletter and your readers. For example, if your newsletter talks about cooking, you might look at companies that sell kitchen tools or grocery stores.
If it’s about technology, you could think about reaching out to computer or gadget companies.
Make a Media Kit
Next, you’ll need to put together what’s called a media kit. Think of it as a resume or introduction for your newsletter.
It should include details like how many people read your newsletter, who those people are (like their age, and where they live), and how often they interact with your content (like clicking on links or replying to your emails).
Remember to also point out why your newsletter would be a good place for potential sponsors to advertise.
Contact Potential Sponsors
Now that you have your media kit, you’re ready to start talking to potential sponsors.
When you contact them, remember to explain how they could benefit from sponsoring your newsletter.
This could be things like getting their brand in front of your engaged readers or letting a new audience know about their products or services.
How to Setup the Pricing for Sponsorship?
Know Your Worth
The first thing you need to do is to understand the value of what you’re offering. Take into account your newsletter’s audience size, how engaged your readers are, and the kind of content you offer. The more engaged and larger your audience, the more you can charge for sponsorship.
Research Other Newsletters
Look at other newsletters similar to yours and see how much they charge for sponsorship. This can give you a ballpark figure of what companies might be willing to pay. But remember, each newsletter is unique, so don’t feel you have to match these prices exactly.
Consider Your Time and Effort
Think about how much time and effort you put into your newsletter. You’re providing a valuable service, and it’s essential to factor in your hard work when setting your prices.
Start Small and Adjust Over Time
If you’re just starting out with sponsorship, it might be a good idea to start with a lower price. This can make it easier to find your first few sponsors. As your newsletter grows and you gain more experience, you can gradually raise your prices.
Remember, pricing isn’t set in stone. Be open to negotiating with potential sponsors. Some might be willing to pay more for extra visibility, while others might prefer a long-term deal at a lower price. Listen to their needs and be willing to adapt your pricing to suit them.
Charging people to access your newsletter is another great way to generate income. It’s like when people buy a newspaper or magazine. You provide valuable content, and in return, your readers pay a subscription fee.
How to Start With Paid Subscriptions?
To begin, you’ll need to set up a payment system. There are several online platforms available that can handle this for you.
Next, you need to decide on your pricing.
How much will you charge per month or year?
Will you offer a discount for longer-term subscriptions?
Then, think about what you’ll offer your paying subscribers. This might be more in-depth content, access to archived newsletters, or special benefits like discounts or early access to your products or services.
Best Paid Subscription Platforms:
- Substack: Substack is a well-known platform that allows writers to publish newsletters and make money through subscriptions. It provides tools for both free and paid email newsletters and writers keep a significant portion of the subscription revenue.
- Patreon: Patreon is a platform where creators can earn a monthly income by offering rewards and benefits to their subscribers, or ‘patrons’. Although not exclusively for newsletters, it’s an effective way to manage a subscription model.
- Ghost: Ghost is a robust publishing platform that includes the ability to charge for subscriptions. It’s more advanced than some other options, plus it’s open source, giving you a lot of flexibility and control.
- Beehiv: Beehiv is another great platform for managing paid subscriptions for your newsletter. It offers various features to build and engage with your community while providing you with the tools to easily manage your paid subscriptions.
Sell Your Own Products or Services
Your newsletter is a perfect place to sell your own goods or services.
It’s a direct line to people who are already interested in what you have to say, making them likely candidates to be interested in what you have to offer.
How to Start Selling Your Own Products or Services?
First, you have to identify what you can offer.
Are you an expert on a topic that people would pay to learn more about?
Could you sell an ebook, course, or consulting services?
Or maybe you create physical products, like handmade jewelry or art prints.
Once you know what you’re selling, you need to make it easy for people to buy.
Set up an online store or payment method, and link to it from your newsletter.
Be sure to describe your product or service in an enticing way that shows people why it’s worth buying.
Affiliate marketing is one of the best ways to make money from your newsletter by talking about products made by other companies.
Here’s how it works: First, you find a product that you really like and think your readers would like too.
Then, you sign up for that company’s affiliate program. They give you a special link to their product (with an inbuilt tracking feature so that they know the customers are coming from your referral).
You use that special link when you talk about the product in your newsletter.
If one of your readers clicks on your link and decides to buy the product, the company will know they found out about it from you.
To thank you, they give you a part of the money from the sale. This money you earn is called a commission.
best affiliate marketing platforms for beginners
- Amazon Associates
- CJ Affiliate
- Impact Radius
- Rakuten Marketing
Asking for donations is another way to make money from your newsletter.
It’s as simple as asking your readers to chip in a bit to help cover the costs of your work. Think of it like a performer passing around a hat for tips at the end of a show.
Some people might only be able to give a little, and that’s okay. Others might be able to give more.
All these donations add up, and they can really help to support your newsletter.
How to Start With Donations?
If you decide to start asking for donations, here are some things to consider:
Choose a platform for donations
There are many platforms like Patreon, Ko-fi, or PayPal that make it easy to collect donations from your readers.
Explain why you’re asking for donations
Be honest with your readers about why you need the money. Is it to cover the costs of producing the newsletter?
To allow you to spend more time on it?
People are more likely to give money if they know where it’s going.
Thank people for their donations
It’s important to show your appreciation to anyone who gives a donation.
This could be a simple thank-you note or a shout-out in your next newsletter.
And there you have it – the ins and outs of making money with your newsletter. We’ve learned that whether it’s through sponsorships, paid subscriptions, selling your own goods, or promoting others’ products, there are multiple paths you can take.
It’s not about choosing the ‘best‘ way.
Instead, pick the methods that align with your content, your values, and what your readers want.
Maybe you start by asking for donations and later introduce a paid subscription option.
Or maybe you find a great product to recommend to your readers and try your hand at affiliate marketing.
The key is to provide the best value, stay flexible, and be open to new possibilities.