About this episode: This week we have Kevin Conti of Softwareideas.io, a newsletter that's generating over $8000 in MRR in just over 4-months. Software Ideas is a newsletter that sends you hand-picked, validated SaaS ideas every week. On this episode we're going to cover how Kevin was able to get this newsletter to $8000 MRR, his newsletter pre-sale strategy, and the unique metrics he was tracking during his pre-sale to verify his idea was going to be profitable. We're also going to cover how he's dealing with plagiarism with his newsletter.
How to Price a Paid Subscription Newsletter: https://newslettercrew.com/how-to-price-a-paid-subscription-newsletter/
Show Notes & Insights:
- If you're looking to start a paid newsletter, write a couple of free newsletters that you can post on different channels (IndieHackers, Reddit, Slack groups, Discord groups, etc). At the bottom of these posts simply mention that if you'd like to get another free newsletter and possibly paying for it in the future to reach out to you via email. The main point of this strategy is to qualify how many people out there would be willing to pay for your newsletter.
- If you're going to be doing pre-sale of your paid newsletter, don't worry too much about the actual pre-sale revenue amount. Focus more on the conversion rate of qualified leads versus who actually pays.
- If your pre-sale goal is $500 and you reach it, it doesn't necessarily mean you've validated your idea. Look at the conversion rate. What if you had to reach out to 10k people to get that $500? What if it was only 100? Conversion rate matters more than pre-sale revenue.
- Before you start your newsletter presale, make an educated guess on the conversion rate you think you're going to expect.
- Before you start a paid newsletter, validate the idea. How many people are interested enough to pay for it before your first paid issue.
- There is no golden conversion rate. Every newsletter niche will have different paid conversion rates. One important thing to consider is if it's sustainable for you. You can extrapolate based on the pre-sales and figure out how many people you need to reach out to per-day to make it worthwhile. Does the number seem sustainable?
- Free newsletters and paid newsletters are completely different. Paid newsletters must provide value. What is the value your paid newsletter provides?
- Distribution channels are key for a successful paid newsletter. It's going to be very difficult to run a successful paid newsletter with solid distribution channels.
- Don't worry too much about plagiarism since they probably don't have the level of experience or depth of research as you do.
- Ideas to increase the value of your paid newsletter offering: provide discount codes for relevant services, give access to a knowledge base, give access to a private forum or chat, or develop relevant courses.
- Cross-promotion might not be the best growth channel for a paid newsletters since your subscribers are already paying you. It might come off the wrong way by having advertising.
Newsletter + Guest Info:
- Software Ideas Baremetrics: https://softwareideas.baremetrics.com/
- Anonymized Customer Interviews: https://www.notion.so/Anonymized-Customer-Interviews-57efa80703704bd6b8739250610a89a0
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