In the modern media environment, folks trying to be profitable on the internet are increasingly leaning toward subscription models. This approach doesn't have to be built around a website or an app. In fact, it's worth looking back to a much older business model: the paid newsletter subscription. Consider these three factors as you decide whether you might want to take a bit of a trip back to the future.
Examining Other Viable Sources of Income
The first question most people should have when thinking about creating a paid newsletter subscription model is how does it compare to other potential sources of income. Over the last couple decades, a free model has dominated, thanks in a large part to the rise of internet advertising platforms such as Google Adsense. Ad blockers in web browsers and general customer push back against ads; however, they have blown a crater in the business model where folks create content, throw ads on pages, and collect revenue.
Even if you're able to hum along with the advertising model, there's something to be said for adding a paid newsletter service into the mix. Foremost, subscriptions mean steady and predictable income. This can make it easier for a publication to focus on core goals, such as creating valuable content that may take time instead of just spamming pages to the web as rapidly as possible.
Likewise, it's worth trying to reward your most loyal audience members with a premium product that's worth paying for. People enjoy having access to things others don't.
A second major concern when moving toward a newsletter is whether you have the basis for putting one out. In particular, do you already have a mailing list to work with? If you've been handling marketing the right way, you should have been asking folks to opt in to receiving emails. This base of audience members can be used to build an audience for a paid newsletter.
One big shift that occurs in the move toward a newsletter is that the focus has to move toward content that your core audience cares about. This is why the subscription model has thrived, going back to the print era, with folks who publish stock tips, political opinions, and industry news. Evaluate the premium content you have the ability to create and how it matches with your audience. Also, don't be afraid to create a smaller, free offering to drum up interest.Share
24 April 2019
Whether you're a large business owner or small upstart with little funds, finding ways to market your company isn't always easy. But with the right tips, guidance and assistance, it's possible for you to succeed. Marketing requires developing a business strategy that works for your unique brand. Although it's easy to copy the methods of other companies, it's not the best idea. What works for your competitors may not work for you. My blog offers valuable marketing information on how to develop your own strategies in the most effective ways possible. You learn how to use the Internet to your advantage and who to contact when you just can't pull it all together. If you're ready to move in the right direction with your company, keep reading. Good luck with your marketing plans.