Monetization and naming your newsletter with Terry Godier of IndieMailer

About this episode: This week our guest is the amazing Terry Godier of IndieMailer. Terry and I dive deep into the 3 types of formats newsletters fall into, monetization strategies for these 3 types of formats , and how to name your newsletter. This is a great episode for anyone who’s interested in starting a newsletter or has just recently started a newsletter and wants to better understand the newsletter landscape.Episode sponsor: SparkLoopFeature Newsletter Growth Story: This week we’re featuring the amazing and well-known newsletter creator Andrew Kamphey. He runs a newsletter called Influence Weekly – the newsletter report which the Influence Marketing industry reads every Friday. With SparkLoop he’s been able to grow at a 50% faster rate than before. Now he has his subscribers out there finding him new subscribers.Announcement: Newsletter Crew has just recently acquired the IndieMailer community and has converted it over to the Newsletter Crew community. We recorded this episode weeks before the acquisition. But we’re excited to bring you the new Newsletter Crew community. The community includes forums, chat, and private podcasts. We’re so excited to have acquired the IndieMailer community. This is a huge step and forms one of the largest newsletter creator communities on the internet. We’ve opened registration back up. For only $19 per year, you can become a member and have access to successful newsletter creators, a helpful vibrant community, and amazing private content. All of this will help you become a more successful newsletter creator. You can join by going to newslettercrew.com and clicking subscribe in the header.Newsletter Crew Membership (20% discount): https://newslettercrew.memberful.com/checkout?plan=53407&coupon=PODCASTShow Notes & Insights:There are three types of newsletters. The blog by email, curation based, and product-based newsletter.The difference between a paid newsletter and a free newsletter is what you’re asking of someone else.Blog by newsletter format is for creators who are thought leaders and cover a particular beat to talk about it frequently.With a curation based newsletter, you can easily build authority in your space without having to produce a lot of content.No matter what type of format your newsletter is, there needs to be that personal aspect to it.There has been an increase in curation based newsletter because they are providing a real value add. They filter out all of the content that isn’t worth reading. Individuals simply don’t have time to do this themselves.Scott’s Cheap Flights, Chris Osbrones’s BitList, Dru Riley’s Trends.vc, and Softwareideas.io are some prime examples of a product based newsletter.Most people starting a newsletter won’t have enough traffic to do solid A/B testing on price.If you’re completely stuck on newsletter pricing, make it free then start asking your subscribers what they think it’s worth.Affiliate sales within newsletters is another legitimate way to monetize. This type of monetization model works well in a product or round-up based newsletter.Content is by far the hardest part of having a paid newsletter.Promise less, do more. Keeping up a cadence is hard. Start with less, then start increasing the frequency.Quality is the most difficult and most important part of a newsletter.When naming a newsletter you want it to be memorable, easy to spell and pass the elevator test. Shorter is better.Newsletter + Guest Info:Terry Godier: https://twitter.com/TerryGodierIndieMailer (Now part of Newsletter Crew): https://indiemailer.com/_____________________________________If you’re interested in purchasing the Profitable Newsletter course, please use the link below to help support the show.Profitable Newsletters Course: https://kintuhq.podia.com/a/hdixbNewsletter: Join the newsletter to get amazing curated content on how to be a more successful newsletter creator. Go to https://newslettercrew.com/newsletter.Twitter: https://twitter.com/newslettercrewPatreon: if you’re interested in supporting the show, become a patron here https://www.patreon.com/newslettercrew. We’ll be reading the supporters each week.