Finally launched a paid subscription for my 1000+ sub newsletter! Made 0 dollars š
A year back, I made a decision to give this thing a proper go.
Iād been working sporadically on this niche website + newsletter for a couple of years, slowly gaining a bit of momentum. Even with my lackadaisical approach, it had gained some traction. Imagine what could happen if I put some real effort into it.
So one year ago, almost to the day, I decided to up the game. I would make a real effort to publish new content regularly. And I would email my subscribers every single week, without fail.
Time to get to work!
And thatās what I did. Nothing particularly amazing happened, but all numbers started pointing in the right direction. The number of website visitors grew steadily, from an average of 10-20 per day to ten times that. Subscriber numbers trended in the same direction, finally crossing that magic 1000 barrier a while back ā thanks to a mix of organic and social ad reach.
Now weāre getting somewhere. Time to really kick this thing into gear. I switched to Convertkit in an attempt to improve my delivery rates, and get ready to monetize this thing. Growth continued, open rates went up and above 40% with click rates often climbing above 5%.
The big day is approaching. Iāve been sending out this newsletter every week for almost a year. Time to do it! Iāll introduce a paid premium subscription and start sending out an extra, exclusive newsletter each week.
Yeah, yeah, I know this wonāt make me rich. But if I can just convert a single percentage of the subscribers, thatāll be enough to at least cover the costs of my Convertkit plan. And if I can double that, or maybe get to three percent, I can plough it all back into growing this thing to new heights.
The big day is here!
I finally launched my paid subscription. I sat back and eagerly anticipated all the sign ups that would come over the next few hours. āMaybe Iāll finally take the time to make a post on IndieHackers and talk about how I grew MRR from $0 to hundreds and hundreds of dollars in under a decadeā I thought to myself. Smugly.
And then nothing happenedā¦
Well, thatās not entirely true. Because hundreds of subscribers opened my email as usual. But that was it.
No sign ups. Not a single one.
Now I know what youāre thinking. āBut LC, you canāt just expect strangers to throw money in your direction. You need to connect with people. Form relationships, and then theyāll want to support your workā. So let me tell you a little bit about some of the subscribers on my list.
Some of them, Iāve been exchanging emails with regularly for months, even years. Conversing about the topic of my newsletter, really getting to know them ā and letting them get to know me.
But none of them found signing up for a premium subscription worthwhile. Fair enough, itās a very personal thing, after all, to part with your hard earned money.
Others still, I know in āreal lifeā and I talk to them, share my knowledge and experiences on the subject matter with them regularly. On a monthly basis, or even weekly with some of them. With a few, Iāve been doing it for years!
Not a single one of these people found it worthwhile to become patrons of my little side project. Maybe Iām doing something wrong here.
But guess whoās also on the list. My parents. Both of them! And they are both quite interested in this thing I write about, and we talk about it quite often.
Out of the two of them, none of them decided to support my thing. Now, Iāll grant that theyāve certainly done enough for me to not have to throw money in my direction. So maybe they get a pass. But stillā¦
The worst part of it all? My wife is on the list, too! And even after I told her she could grab the money from our joint account (now that's one way of offering a discount) she couldnāt be bothered to sign up! Of course, she isnāt particularly interested in the subject matter. But stillā¦
I think Iām just gonna quit
Obviously Iāve done something wrong along the way here. Iām just not sure what. I didnāt expect to see a ridiculously high conversion rate or anything like that, but I sure was hoping to get a few people signed up to help support and fund the growth of this project.
I truly thought that putting stuff out there regularly, creating connections, and truly engaging with people along the way was the key to building a monetizable audience. I was clearly absolutely wrong, and I have no idea what to amend with my approach to get closer to this project at least funding its own costs.
If you want to kick me while Iām down offer constructive criticism you can check out the email that went out to my list here. Really looking to learn from this, even if Iām, in my current despondent state, thinking of just throwing in the towel.
Did you read all the way down here? If so, Iām sorry to bring you down on what should be an absolutely awesome Friday. Wishing you a terrific weekend with magical MRR bumps and all around good vibes!
I cant help with the question in subject, but as indie hacker to indie hacker I'd say don't you dare quitting on us!
Love that spirit! š
Fine, fine. I won't quit yet!! And thanks for that. I do appreciate it š
Hi, first off, I have a lot of empathy for how you feel. Having said that, I have no clue what this newsletter is about, so I'll just share what I see:
Mind, I'm not an expert on communication, newsletters (just started mine!) or marketing. Just trying to help, letting you know how I felt reading this.
I'd like to see what exactly I'm getting for 15$/month (that's a lot of money!), any sneak peaks? What's planned for the next couple months? How is that different from the free content I can get from you, or on the Internet?
Hope that helps!
Have to agree with your comments, Piotr. Wondering how that initial 1,1K users were acquired because the site itself is far from intuitive.
Hey, thanks so much for your comments. They really help me get a clearer view of where I've gone wrong, and I do appreciate you taking the time to share!
The main site is run161.com and that's where I'm publish most content and driving sign-ups from. In the name of not wanting to self promote too heavily, I just shared the link to the Converkit online version of this week's newsletter. I don't actually use that in my setup.
I'll write a more detailed response to your full list of points @piotrjura later tonight, because it's really good. Right now I just gotta run and pick up a couple of kids from daycare! :)
I'm back! First, again, thanks for sharing your thoughts in a detailed manner like this.
Colours: Yes, I know. It's a Convertkit bug that I've reported, and that they (hopefully) will fix. I don't really use their profile/feed feature in communicating with or trying to attract my audience.
Messaging: Yes, you're absolutely right here. It's terrible in the context of trying to sell something. My "schtick" when writing the newsletter is to be personal, and when it comes to running in particular, I think that works. I run at a decent level compared to many of my readers, and the idea is to be very transparent that even if you're running 80 miles per week, you still often have the same struggles as someone who's just getting started and need to get out the door. But that doesn't translate as well when trying to sell.
Agree on no clear value. In my mind, the proposition is something like the free newsletter will help you get started, and the premium newsletter will help you get great at it. I'll have to work on communicating that in a clear, concise manner.
The pricing segue was poorly done, too, agreed. Especially in the context of your former comments.
As for what you'll be getting, I've got lots of plans. Obviously the premium newsletter with a much sharper focus on training. Then I plan on delivering these newsletter, and the free written content available on run161.com, in audio form to all premium subscribers. For those who prefer that to reading.
But I sorta wanted to "prove the concept" before diving into those things. I guess I couldn't š But either way a very valuable learning process. Especially given all the constructive feedback I'm getting here!
First of all I really liked your storytelling style.
I don't know what your newsletter is about but my guess is it's about running. And you mentioned you have a website with 5k+ visitors.
I'm wondering instead of monetizing via subscription why not use ads or sell your own coaching service? won't that be easier to reach your milestone than signing up 1% of the subs for paid plan.
Thanks, I really appreciate that!
I've been trying on and off with affiliate ads, but I'm seeing little to no traction there. I've written it down to lacking the appropriate scale necessary to make money that way, but it might just be that I'm not very good at it.
As for coaching, you'll be glad to hear that I've actually been down that route before. I even managed to acquire a few paying clients! My problem is that I'm just not very good at it, which I learned back then. I can easily spend hours creating "coaching style" content, but for a whole host of reasons, I was not very good at one-on-one style coaching at all.
Thanks for being so honest.
Agree with some of the other posters. Your value proposition is not clear. It's clear in sentiment, e.g I understand the paid version is 'better' than the free version but I don't understand what better actually is in real terms. What is the tangible difference between the free and paid?
$10/15 is a fair amount to gamble on, I would like to see what I get.
Also do you know why your readers like your work? Adding depth to this could be good. E.g, if they mainly follow you for your tips on running the paid part could be adding some depth to this, maybe through tips from influencial runners. If they follow you because they value your opinion on running shoes adding depth to this could involve writing much longer form content on the pros and cons of the shoes and including giveaways etc.
Having said all this, I'm still surprised none of them converted as the usual 2-5% conversion rate I can't imagine is based on everyone doing the above perfectly.
Wish you luck!
Thanks Michael!
Those are good questions, and ones that I need to address and answer clearly in my copy. I've literally copied and pasted your second paragraph into a "how to improve" document I've started after getting all this excellent feedback.
And as to your second question, I don't really know. Maybe they're just there for the memes, for all I know! Doing some research in that regard will be beneficial in terms of what I should provide more of behind a paywall. I'm going to follow up on that as well!
And I would be lying if I wasn't a little surprised myself. Hence this thread! Maybe they all really do subscribe just for the memes š
Anyways, thank you so much for taking the time to share your feedback. It's been both valuable and insightful, and I'm confident it will help me going forward.
Also are you subscribed to any other running newsletters? Preferably ones that have monitised and have a readership larger than yours. You could have a look at what they're doing to create value that people are willing to pay for. Maybe have a look at the format of their free versions then pay for a subscription and see the difference.
You could also reach out to them to explain your issue. It might be that they've experienced a similar thing (if for example the average subscription spend in the running niche is lower than the typical newsletter).
As a side note. We all love someone who overcomes something. So please do write a follow up post so we can all see what you did to get your first paying subscriber. I've love to read it and I'm sure most people who have commented would as well
Don't throw everything away. You did a lot of things right. You just launched a product people aren't interested in.
In the end, that's what it all comes down to.
Big fan of your work by the way. I've been following you on Twitter for years. (Yes, you're free to tell me I should've been paying more attention š)
Oh glad to hear that! Iām not super bullish on paid newsletters to be honest. Maybe a short course with a one-time payment could work better? Find out what your subs really want. Run faster? Train better? Prevent injuries? Keep going. Iām sure youāll figure it out š
Yeah, it's interesting. Based on a lot of the feedback here, it seems like the consensus is that a premium newsletter isn't the way to go in terms of monetising an audience in this niche. I've been thinking about a one-time payment product based on what I've been successful with in real life: Helping people get started with running, and sticking with it. A sort of "supported training plan". Needless to say, I'll have to think long and hard about the value proposition here before diving into it.
Hello Lars-Christian,
thanks for sharing this so openly. I don't really know what to say but I got one idea:
š Maybe your free version of your newsletter is already so good that people simply don't see why they should take the paid version?
What if you compare the paid version against the free one and ask yourself:
If you need help telling a good, transformational story that would make them see why they should buy the sub, check out my video on storytelling in marketing: https://youtu.be/n0ig0yVNr-0
Cheers...
Matthias
Thanks for the response, Matthias. I really appreciate it!
You make some good points here. Maybe the value proposition isn't clear enough. In my head, there's an obvious funnel where the free newsletter has a much broader appeal, while the paid offering is for more "hardcore" subscribers who want to level up more so than just get started.
And your suggestion about telling a story is a definitely a good one. And it highlights the fact that I was absolutely 100% too relaxed about the messaging when I "launched" the paid subscription. To be honest, though, I thought I'd had enough goodwill to land a fair few subscribers first, and then work on the messaging when focusing on converting new subscribers.
Lesson learned. You're never in a good enough spot to ever not be on point with your messaging. Or at least I'm not š I'll be sure to look at your video in order to brush up on my storytelling for future communication.
Hi Lars, definitely don't quit! From the post, it didn't really feel like they'd get a ton of extra value from doing the premium subscription. I'd read 100 M dollar offer from Alex Hermozi where he mentions creating an offer so irresistible that they'd feel like an idiot to say no to. Here are some ideas:
Thank you Cambridge! I'm putting that one on my reading list, and will make sure I get to it this coming week.
Your suggestions are great. Bundling a subscription with deals on physical products, and using other add ons, like you mention, is a great way of adding value to the subscription. If I do end up doing a proper relaunch, I'll be sure to implement several of your suggestions in one way or another.
Have you tried decreasing the price or offering a free trial for 2-4 weeks?
Thanks for the suggestion, Cem! I did offer a slightly discounted price. But if I end up relaunching this thing, I think I'll do something akin to a free trial, like you're suggesting.
Getting people to signup for something paid, when they are accustomed to get something for free it's almost impossible. Ask Jason Cohen: out of 40k visitors he got 2 ("two", not "two thousand" - just "two") subscribers.
Instead I would suggest monetizing this traffic to something else. Think about it: you would have spend hundreds of $ everyday on ads to get this traffic. You already have this content, already have visitors, funnel them to something paid, just not "more reading".
Thanks Lukas! I think you're really getting down to brass tax here. And others have touched upon it as well. Maybe "more reading" is not the right approach to monetising this audience, within this niche.
Do you have any tips on what might work in setup like this? From where I'm standing, it's basically down to display and/or affiliate ads. I just think I need more scale for the former, and haven't had much success with the latter (but I'm probably not doing it right either, so I need to research that more).
DONT QUIT! I am in the same shoes as you and I tried to make a website where devs can post docs and stuff. Well, you atleast had a few people, the only person that were posting there was me.
Thank you for your words of encouragement. Let me pay you back in kind: Don't give up! I actually have some experience in building online communities. A while back, that is, when bulletin boards were our preferred method of interacting online.
Getting it off the ground it is a long and tedious road. But you just have to stick with it! I probably had ten different accounts that I posted from to give the impression of community... But it gained traction eventually, and then, instead of conversing with myself, I could spend time moderating and trying to keep it all civilised instead š
Don't give up just yet! Rome wasn't built in a day and neither is a successful paid newsletter. Keep at it and continue to provide value to your subscribers. With persistence and effort, you'll eventually start seeing that hard work pay off. It's what we're doing!
Thank you for your encouraging words. And glad to hear that you're starting to see some returns on your hard work. Good luck, I hope your growth chart goes hockey stick!
Thanks and likewise friend!
I can tell you the problem and it's a tough one. You don't have a buyer audience - you have a casual audience.
Can I suggest something? You don't monetize a paid newsletter - that's the wrong revenue strategy. Instead, you need to monetize affiliations with running and sports brands. Let me know if you need any help with discussing revenue strategy :)
Thank you! I would absolutely be interesting in talking strategy with something who knows what they're doing here. If this is within your expertise, please reach out so we can chat. I'd be happy to recompense you for your time!
I'm happy to do a call if you want - my email is at [email protected], no need for compensation but any promotion on social media would be nice (https://twitter.com/ColabDog).
My advice is simple though - audiences are not built the same. To a supplier, an audience of 100 grocery store owners is far more valuable than an audience of 1 million teenagers if they are looking to grow revenue streams. You have an insane audience of 1000 runners who follow you for running. You have built an authority on running and the experience you have running backs it. If you want to now make money to monetize your audience, you should instead sell items (ideally with affiliates) where your authority is in line with the product. Much like you wouldn't go to your local grocer to ask how to set up your computer because they wouldn't know any better than you.
Here are 3 ways for you to make money with your audience:
Mentioning your audience of 1000 runners should be enough for businesses to take you seriously to generate an affiliation with you. And if they're not interested - there's thousands others online that you can reach out to.
Another note - You growing your newsletter is awesome and you should be proud of the work done! Be sure to ask ChatGPT how you can make money with your unique audience by the way ;) more ideas there!
Been there! Niche newsletters are tough. You've really gotta love what you're writing about, to the point that the money isn't very important (but also keep trying to monetize). For a running newsletter, I'd suggest getting sponsorships from small running shoe/equipment brands.
Thank you James! You're absolutely right in that it's tough. Luckily, I do love it to the point that money isn't very important, so at least I've got that š Your suggestion is good, and in line with what others here are saying as well. I'll be looking into it, but I fear it's not exactly within my expertise, so I might have to get some help in that regard.
How have you fared? Did you do it all yourself, or did you have anyone help you with the commercial side? I'm thinking particularly about the acquiring sponsorships part.
Just thinking out loud, here are some suggestion about the email you could try out,
I am no expert here, but those are very easy changes that IMHO have a chance to help
Thank you! I agree, these are all low hanging fruit changes that could make a difference. I'll keep them in mind for the future!
Your letter was too long and there's no clear call to action. If I were you, I would send another letter. A lot shorter and with only one clear purpose.
Yup, I think that's the most important takeaway of all here. I was not conscious enough of my messaging, and my pitch was way off.
If I do end up re-releasing the premium subscription, I'll definitely go in the direction you're suggesting. Thanks for sharing your thoughts!
Monetizing a newsletter is a long and hard game.
I'd say niche down even further. Is there a specific group or community whose interests you can cater to? What's the one person who would want to pay for this? Start from there.
Niche down first and you can expand later.
Yes, you're right. I think it would be easier to monetise a more specific niche.
For me, that's probably aiming towards grown ups who want to start running to improve their health and fitness. It's the audience I know best.
I guess I've just been spending too much time making the content I want to read, as part of my own learning journey. But in terms of selling something, it's better to be more specific, as you suggest.
Thanks for sharing your thoughts!
Never give up!
Thank you. I'll keep going a while yet!
Sorry to hear about the disappointing launch but Iām this is some amazing writing sir!
Iād suggest asking your audience what problem they have and what kind of solution theyād want from you.
Youāre obviously providing value for them but an upgraded newsletter may not be the additional value theyāre looking for.
Good luck!
Thanks for sharing your thoughts, Chris, and for your kind words.
You're absolutely right! I need to be more in tune with what my audience is actually looking for. That's really the first order of business if I end up trying do some sort of relaunch. But you're probably right in that that a paid newsletter may not be the thing.
Keep it going! I read the email you sent and the main thing you have to ask is WHY would the reader subscribe? In your case, I couldn't tell what the advantage was in subscribing outside of supporting you. Don't worry, I had the same issue trying to monetize my newsletter too.
Thank you, Raj!
Yup, you're absolutely right. I didn't manage to get across a clear value proposition in my pitch.
Do you have any tips that you picked up along the way, that you could share? I hope your newsletter is going well, and that you're seeing some good revenue.
Hey Lars, don't let it get you down. I was watching the YC Startup school video on launching, and there was a good clip about how so many successful companies had to launch several times! Even AirBnb! Check it out https://www.youtube.com/watch?t=149&v=u36A-YTxiOw&feature=youtu.be
In terms of my own opinion, I think perhaps next time include a TLDR; section right at the top of the newsletter. You didn't mention your new offering until a few paragraphs down. On the next launch, I might have a quick blurb at the top about the new premium subscription and a 1-2 liner explaining why your readers should care.. then get into the story behind it after.
good luck! and keep at it!
Also, how are you currently building community with your audience? How do they interact with you outside of the newsletter? (Twitter, Discord, InboxHype, etc.)
The community-building part is huge for newsletters as you can really start building relationships and get your readers to CARE about you and what you're doing. This greatly increases your chances of success when launching any new product/offering.
(for transparency, I run InboxHype.com)
Thanks for your suggestions, Christian!
The plan was to include a short two sentence blurb on why someone should upgrade to premium in all future editions of the free newsletter. You make a good point in saying that I should have done just that this time around as well.
As for community building: A fair portion of my subscriber base has come from Twitter. I was fairly active there, but I have a... how should I phrase it, problem with getting distracted on socials. So, to find the time to actually work on producing content, I had to step away from socials. All socials.
For now, all of my interactions with the subscriber base is through email. I've been considering facilitating a community where they all could meet. But my thinking so far has been that it's been better to focus on producing content, and hopefully increase the numbers a bit before getting there.
Plus, my plan was always to make the community part exclusive, rather than open to all. Maybe not the best idea? But it seems to work for many as part of their sales pitch.
Well, you always have the next launch to do that!
As for getting started with community building, perhaps you could take a small cohort of your subscribers (a percentage of the ones with high engagement / open rates) and reach out to them individually to "trial" your premium subscription for free. Your ask from them would be to give you feedback on each premium edition, and say after 2-3 provide a testimonial.
Two(three?) birds with one stone here:
You get to build a stronger relationship with those select subscribers. You're kickstarting your community right there.
Testimonials are huge, and now you use it as the "FOMO" effect when do a larger broadcast like you did for your first launch
You get feedback and can tailor your offering based on that (if it makes sense)
Rooting for you! Don't give up!
This is absolute gold, Christian.
I would've never have thought about this approach by myself. Not in a hundred years. But when you lay it out in five sentences across three points like you do here, it's an absolute no brainer.
Since I've become a bit of connoisseur of memes after sending out fifty or so of them, I'm gonna bring out a classic: I can't believe this website is free.
Thanks again for your kind words, and actionable suggestions!
Happy to help!
Sorry to hear about your launch struggles. Don't give up! Building a community takes time, and monetizing it can be tricky. Keep engaging with your audience, learn from this experience, and make adjustments. Success often comes from persistence!
Wishing you the best!
Thank you, Alex, for the encouragement. I'll try to stick with it for a while yet, and see if I can't turn this ridiculous car crash into something positive š Lots of great feedback here, that can help me turn the tide.
They will come! Dont give up
Thank you for the encouragement!
Hi Lars-Christian,
I have taken a look and have the feeling that your value propositon is not entirely clear on why I should be dropping 10 bucks a month on this one. Wondering if you tried from another direction: I think this one is niche enough to get some of your posts sponsored, possibly by startups or just simply up-and-coming brands in this space. Have you tried going down that route?
Cheers,
Kristof
Thanks for you feedback Kristof, here and down below. You've made me realise that I need to sharpen my messaging significantly.
Also, your comment below on the site being confusing has nudged me into starting the process of porting all content straight onto the main site, run161.com instead of relying on Convertkit's profile feed thingy for hosting the content. It'll be a bit of hassle, but I've got everything I need to get it setup.
On your other suggestion, I don't even know where I would start in terms of getting sponsored. I've only used some affiliate links as "sponsorships" but even though I'm sending a decent amount of clicks, the conversion has been low, and the earnings meagre.
I have taken a look again and have a couple of points to make:
Thank you for taking the time, I really appreciate it!
On the CSS point, it's a little unclear to me if you're talking about the code itself, or the design? In terms of code, it's all based on the WordPress 2020 theme. As for the look and feel, yeah, that's all me š In terms of rounded vs square, the whole design is based on sharp cuts and straight angles, so it would look weird to start using rounded corners within that framework. But I definitely agree that the design is starting to show its age, and could do with a refresh.
As for platform, I don't know if it's the right one! YouTube could very well work better. Maybe podcasting, too. It's something I'll think more about. What I can say is that the simplicity and total ownership of a self hosted website and a mailing list as your platform really appeals to me. But maybe that worked better 15 years ago than it does today. Idk!
Also thanks for the honest feedback on that "cheap" feeling. I honestly have no idea what to say to that. I only review products I purchase for my own use, and then review them based on whether or not they work well for my intended use case. I try to keep it personal and authentic, as that's what I personally prefer over the more cookie cutter approach of the big "review mill" websites. If you're ever able to boil it down to something concrete that I could look to change, in order to give you a better impression, please let me know!
Hey Lars-Christian,
i can imagine your frustration. I asked my best buddy ChatGPT (GPT-4) for a first advice. Hope it helps š„³ļø
Value proposition: The primary concern is the value proposition for the premium subscription. While he mentions exclusive content and ad-free newsletters, it may not be clear to readers what that exclusive content will be and how it will benefit them. He mentions it will be "narrowly focused on running training and performance," but there's a lack of specifics. How will this help them improve? What unique insights or advantages does his content offer that can't be found for free elsewhere?
Pricing: Another potential issue is the pricing. $14.99 per month or $149 per year for a niche newsletter might be seen as quite high, particularly if the added value is not clearly defined or understood by potential subscribers. A lower price point might be more palatable to potential subscribers, particularly when first introducing the paid model.
Discount explanation: The discount is only available to the first 42 runners. This number appears arbitrary and isn't explained. He could clarify why he chose that specific number (is it a reference to something running-related?) or consider a time-bound discount instead, which could create a sense of urgency to subscribe.
Urgency and scarcity: The launch of the premium subscription lacks a sense of urgency (other than the limited number discount). There isnāt a strong incentive to sign up now rather than later. He might want to consider adding time-limited bonuses, introductory pricing, or other incentives.
Call to action: The call to action to sign up for the premium subscription could be more engaging and compelling. Simply stating, "So what are you waiting for?" isn't particularly persuasive. He should make the CTA more compelling, emphasizing the benefits they will receive and why now is the best time to sign up.
Social proof and testimonials: The landing page doesn't contain any testimonials or endorsements from current subscribers. Adding these can be a powerful way to build trust and demonstrate value.
Remember, the decision to sign up for a paid subscription often involves a cost-benefit analysis by the potential subscriber. Lars-Christian needs to ensure that the perceived benefits outweigh the cost for his audience. A clearer explanation of the benefits of premium subscription and possible adjustment of the pricing strategy might help him convert more subscribers into paying customers.
You took a risk, it didn't pay off, but that's okay. It seems you have a good open rate for your newsletter, try reaching out to companies for sponsorships. Best of luck and don't give up!
Hey Lars, this is quite an off-read filled with a bit of nonmotivation.
You actually did what is the norm, and in fact I was planning on the whole newsletter thing and this might have been a critical post to halt my decision in that, but this is the risk of being bootstrapped. You never know. Maybe something was off, only you can tell.
I would say, of all the nice comments you've received here on IH, just take some time off this project and the process.
When you come back a few weeks later.. re-read this post and get back to me what do you think the next step would be.
---
Sunk Cost Fallacy Tip: Make a video of why newsletter-ing didn't work out and post it on youtube.
Hey Lars,
So, having successfully created and sold plenty of information products since 2006 (both on and offline) I can give you a few tips.
Having a quick look at your website, I can't see anything particular unique to you, it seems to be generic (although I'm sure v.helpful) advice.
People want to buy secrets and new ideas.
For example, I used to create and run an industry conference in the retail logistics industry - the target audience being retail logistics directors and managers.
One year we were doing ok with the signups but it was nothing special. We were scratching our heads with what to do when all of a sudden one of my speakers called Guy Meisl called me up and said he had to cancel his talk because the company he worked for (Zavvi) was going into administration and he was out of a job.
A lightbulb went off over my head and I convinced him to stay on and give the talk because he would no longer be forced to keep interesting information to himself. He could, for the first time, reveal all the hidden details he'd never shared during a conference talk.
This was a boon for us - my sales and marketing team went to town on this and our growth took off. People who had previously said no to attending were clamoring for a ticket.
You need to find this for yourself. What new perspective/methodology/belief system (that they can't find anywhere else) can you teach people that will help them reach their goal quicker.
As you're in the fitness industry with your newsletter, you can see what I mean with the likes of Mark Sissons and his Primal Blueprint.
I've got an entire website dedicated to finding these kinds of belief systems complete with case studies of companies that use it (I haven't added newsletter ones yet, but I'm getting round to it - either way the principles are the same). You can check it out here - www.thebluntmethod.com
Hope that helps
Best
Chris
This is very insightful stuff, Chris. I really appreciate it. I think you might be on to something with regards to having to find my thing, in terms of perspective/methodology/belief system to use it as a sales pitch.
I will go through your website with a fine tooth comb and see if I can draw inspiration from the examples. What I can say is that I consider "my thing" and the secret to be that there is no secret. You simply have to get out and do it. Much of what I write is founded on that belief. Feelings follow action, and you can't sit around and wait for motivation to hit before you start doing.
Boiling that down to something "unique" that can resonate, I suppose, is the trick. But, as I said, I will read your case studies and do some soul searching along the way.
Thanks again for sharing your thoughts!
You're welcome Lars no problem.
If you need any help doing so there's also an interactive guide available to buy on the website that gives you access to my help as well.
Good luck!
Best
Chris
I have been running paid subscription model for Micro SaaS Ideas Newsletter. I can understand the frustration but I think your topic of 'running' may be too generic topic and 1000 subs may be not big volume. I see people paying for content that directly helps them get a new job, helps build some business, stay tuned with trends etc. When it comes to health and fitness, may be people want to pay for big companies only. That's what I am thinking. But I totally feel your pain as an IndieHacker.
Good points, good points. Maybe there isn't a market for something like this at all, and volume is the only way to make money?
It's my passion though, and I couldn't imagine spending the sort of time it takes to get something like this off the ground on something that doesn't interest me, too. So maybe I'll just have to take the L, and accept that it won't ever be a "business" or even a self-sustained project, and instead think of it as just a learning process.
My market research has essentially been looking at myself and what I do and where I actually put my money. I'm a big fan of small, independent publishers in spaces like this. And while I wouldn't dream of paying money to something like Runner's World or the like, I support several independent publishers in the same space. But, like you say, I may be an outlier in that regard.
Thanks for your input. And good luck with growing your own paid subscription business. It looks very interesting!
Thankyou. If that is the case and you are intersted to write on this topic, may be you can try to do it long term may be like blogs/affiliates kind of work rather than a newsletter ecosystem because newsletter ecosystem might need recurring commitment. I am sure there will be high value affiliates in Health and Fitness space.
Yup, you might be on to something. I would probably be better off focusing on doing my homework on the SEO side of things, and try to grow traffic more organically. That's just not as exciting to me as building an audience, or a newsletter ecosystem, as you call it.
I suppose I can't expect to have my cake and eat it too. But thanks again for sharing your pointers. It's really valuable to me!