With any type of business, one of the most profitable assets is their email list. In this post, we’re going to break down How To Make A Million Per Year With A Newsletter.
Choosing a Niche
The ideal niche is a niche that you are passionate about and interested in. Being extremely interested in your niche makes it easier for you to run your business. Waking up is a breeze instead of a drag. It can keep you motivated through the challenges you are going to face while running your business.
Make sure your newsletter is in a niche where there is money. You can never go wrong with a newsletter in niches related to making money, getting fit, finding love, and finding happiness.
For you to have a successful newsletter, you must choose a niche. Having a general newsletter, not only makes it harder to market, it also makes it more difficult to create your ideal subscriber.
Knowing Your Ideal Subscriber
To know who your ideal subscriber is, ask yourself the following question: Who is the person that would subscribe to my email newsletter and share it with friends? Remember, you don’t want to just have a subscriber who joins then quickly unsubscribes. Ideally, you want a community of people who are genuinely interested in the information you’re providing and the products you are selling.
Knowing your ideal customer will make it easier to create advertising for your newsletter. You’ll know who you speaking to, so you can tailor a message an ad that resonates with your ideal subscriber. The more specific you can be with your customer avatar, the better you can focus and direct your business.
The Business Models
With a newsletter, there are a few different business models you can do. The first is a free newsletter. For beginners, this is what I would recommend. Your newsletter is free to join and you can sell products along the way. Your list will most likely grow faster because its free, however, it can be harder to have a consistent income stream in the beginning.
The second is a paid newsletter. You charge a monthly or yearly subscription fee for people to be on your newsletter. This business model has recurring income, so can be more profitable for you. However, the information you are providing has to be good enough on a regular basis to warrant the fee.
For the tech, you only need a few things to get up and running. You’ll need a website and hosting [to improve SEO and have traffic coming organically from Google]. You’ll also need an email autoresponder [can use Mailchimp, GetResponse, or any email autoresponder of your choosing].
To get started, this covers the tech you’ll need. Any other tools can just add to the foundation of these tools.
There are many different traffic sources you can use to your advantage. Depending on your niche, some traffic sources may work better than others. The key is to focus on 2 sources in the beginning and not to be reliant on just one source.
Here are a few sources:
- FB Ads
- YT Ads
- Pinterest Ads
You don’t necessarily have to pay for traffic in the beginning, but I have found that it is quicker to spend the money and test to see if your newsletter has the potential to grow and scale.
Want more tips on reaching 7 figures, check out this article here.
Depending on which newsletter you decide to go with, there are multiple ways for you to monetize your newsletter. You can sell any of the following ways:
- Your own digital products/physical products
- Your own services
- Someone else’s digital products/services [Affiliate marketing]
- Someone else’s services [Commission]
- Advertising space in your newsletter
- Paid membership to your newsletter
Now, you may be wondering, so how do I make a million per year from my newsletter. Well, lets’ break down the numbers. One million per year is $83,334 per month on average. For your newsletter, you want to aim for $1 per month per subscriber.
What this means is that if you have 83,334 subscribers on your email list, you will make a million dollars per year. Now, you have two goals to shoot for: one is to increase your average monthly value per customer to $1 and the other is to get 83,334 subscribers on your list.
Can you make it happen?
Thanks for reading this article on How To Make A Million Per Year With A Newsletter.