If you are a freelance writer or blogger who wants to monetize your niche-specific knowledge, then starting a paid newsletter subscription is a great option. As a digital publisher of your own mini-newspaper, you regularly put your well-crafted content into your subscribers' email accounts and are paid handsomely for doing so once you build up a large subscriber base.
If you have considered adding a paid newsletter subscription option to your blog or website but have struggled with how to make it work, then this information will help you make the leap with confidence:
Why People are Happy to Pay for a Newsletter
It might surprise you to learn that in this age of powerful search engines people are actually willing to hand over their hard-earned cash for information they could find themselves. Well, they are!
A newsletter allows you to reach your target audience directly without them having to deal with advertisements or junky click-bait articles. Your subscribers get specialized information targeted for them without having to waste time online sifting through irrelevant information or articles written solely to sell them a product. And, in exchange for these benefits, people are willing to pay you.
Determining the Best Price for Your Newsletter
One of the biggest stumbling blocks for new publishers is how to price their newsletter. While there is no one set price that works for everyone, you should base your price on the following factors:
- the niche you are targeting
- who your target buyer is
- how often you publish
Niches that require more technical writing or extensive research should have newsletters with a higher price than those written on less technical topics.
Newsletters with high-end buyers such as world travelers or golf players can command higher prices than those for home cooks or crafters.
Also, as with a traditional printed newspaper or magazine, the frequency of publication affects the price you can charge. Sending an edition every week will take you a lot more time than one published monthly and your price should reflect that.
Offer a Free Edition with an Automatic Signup
There's a reason websites such as Amazon and Hulu offer free trial periods with automatic signups for their subscription services. People typically want to try something out before paying for it. Once people try something out and like it, they aren't likely to go back and cancel their subscription.
Be a Reliable Publisher
Finally, it's important once you have paid subscribers to your newsletter, you need to ensure it's published on time. If your subscribers expect their newsletter on Friday afternoons and you can't deliver for some reason, then send out a message and let people know when to expect the edition.
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