I've spent $2,000 sponsoring newsletters, and here's what I’ve learned so far
Summary
3 months ago we had no idea that newsletters could be a great source of leads.
With over 20 sponsorships, 40+ paid customers, and users coming in every day I can definitely say it works amazing.
Let’s look at the learnings and how it works.
1. How to find newsletters
I initially found the first 5 newsletters by googling and searching on Substack. This process was quite inefficient, due to the need for manual email searches and inquiries about open rates, # of subscribers etc.
Then I discovered a platform for finding, collaborating, and paying creators. It automates lots of manual work.
2. How to select newsletters
Open rate and number of clicks matter more than the total number of subscribers.
Specifically, it's crucial to know how many clicks the ad space you're considering gets. Newsletters typically have multiple ad spaces, each priced differently.
They might guarantee 100 clicks across the entire newsletter, but if only 10 of those are for your specific ad space and you're paying $200, then your cost per click becomes too high.
Don't hesitate to request a screenshot of their most recent stats. Always verify these details before making any significant purchases.
Our best results are: 150 clicks with $0.52 cost per click.
3. Negotiate
I've mentioned this previously, but it's worth repeating. We managed to negotiate 60% of our partnerships, resulting in price reductions of 30-50%. This flexibility enabled us to experiment much more.
Consider purchasing a package of 2, 3, or 4 issues. Doing so can often secure you a discount of up to 50%.
4. Track and optimise
Some newsletters might provide limited data on your ad's performance. To get a full picture, create custom tracking links or UTM tags. This way, you'll know exactly where your traffic is coming from.
After gathering this data, compile it into a spreadsheet and compare your best performing ads.
What pitch works the best? What audience like it more? What ad-type you should choose?
5. Option for a little virality
All newsletters constantly seek good content and interesting products. They often observe what others are posting. That's why securing one good sponsorship can lead to 2-3 other newsletters featuring your content for free.
Bonus 🎁🎁
Since I already posted in 20 newsletters, and was in talk with 40 others, I have all the data on the pricing, number of clicks, and what is CPC.
Feel free to reach out or comment, and I’ll share the data with you.
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Is anyone offering newsletter marketing as a service? I'd try it.
I've been looking for the same tbh
Meaning a platform to buy placements? A media buyer? Something else?
How this business would work?
If they distribute their newsletter content across different growth channels there is also a chance for it to be curated by other newsletters and platforms.. Like Indiehackers featured a few of my posts in their newsletter, then a Reddit post can hit like 60k views and then some AI newsletter saw it there and with 50k subs shared it too..
I didn't even know my newsletter with just 500 subs could be a source for leads already haha. Randomly got a $150 commission the other day from one of my case studies..
nice! I think newsletters are just at the beginning of their growth cycle.
there are lots of shitty newsletters with inflated followers, but some even with 500-1K subs with strong community behind are a gold-mine.
The problem is that it is quite easy to build subscribers with things like fb ads or refind ads and they often not going to be the same quality of subs you bring in organically through content distribution and networking
true true
i didn't even thinkg about it
This is a really good guide mate!
thanks!
You also can check out my free LinkedIn newsletter 👉 Product Tips
nice! thanks for sharing :)
Some good advice regarding newsletters.
I'm planning to start my newsletter regarding my product design subscription agency.
man, I believe it's an amazing idea.
build community and it will pay off big time in the future.
Thanks man.
Appreciate this. Is there a network to see newsletters that are offering sponsorship opportunities or just utilizing the substack network and googling would suffice?
https://www.passionfroot.me/
Thank u good sir
Thanks a lot! Especially, for recommending the platform.
There is a way to get into a newsletter of comparison websites by boosting the number of votes on your product (for example, by asking in professional chats to upvote). If you get enough votes, they usually include you in their newsletter for free.
nice! i've tried it before.
if you could recommend "professional chats" I would appreciate it a lot!
Thanks! Well, they are too specific (Ukrainian product chats in Telegram). But there are a lot of professional communities on LinkedIn, Reddit, I believe you can find some in Whatsapp that could work instead.
I'm from Ukraine as well :D
we should connect on Linkedin!
Why not create an affiliate program instead and partner that way?
Paying for impressions is so 1990s.
sure, you can do it, but 99% of them prefer 1990s way of doing business :D
they want real-cash now.
but I totally hear you. would love to have more affiliate programs with creators.
Also newsletter are once-and-done, unlike say an ongoing partnership with an influencer on affiliate.
Also it depends on the click rate (and that in turn depends on the open rate).
If they have 10k subs, and a click rate of 5% (being generous here), you've effectively reached only 500 people.
It's possible to get that many clicks (or even more) through a strategically-planned Reddit post or Twitter thread... for free.
I just don't see the ROI in sponsoring newsletters I guess, I've never seen a founder who got amazing results from it.
Maybe you can prove me wrong. 🤷♂️
not trying to prove you wrong. your points are totally valid.
I'm just sharing what've worked for us :)
You are spot on about the number of clicks as compared to the number of subscribers for sponsorships. I write AIBrews.com, a weekly AI newsletter. Just wanted to share the sponsorship and other details here in case you decide to place more ads.
Hope you will feature us for free :D
You mention a "platform for finding, collaborating, and paying creators" in your first bullet point. Care to share the link ?
sure, here you go: https://passionfroot.cello.so/yb7OUEZnP4e
Business idea: A paid-for directory of sponsorable newsletters. Include their verifiable (or self-reported) open rates, subscriber sizes, etc.
interesting.
my suggestions on newsletters targeting the small retail business space?
if your business is in this space - sure, for it!
I'd love to get the data, this is really interesting. I've just launched for ios and once android is ready I'm going to be looking for some ski/snow newsletters
I don't know how that would work for mobile apps, since the flow is different from installing the extension.
sure, here you go: https://docs.google.com/spreadsheets/d/1YlRN7Du9PRSNQ7e23QnZW2c-ynzItVPVb6EaiJHWO7A/edit?usp=sharing
nice thank you. do you also track conversion rate of these users vs those from other sources? curious how they convert
we haven't tracked the exact number yet.
Newsletters disappointed us. We are in the AI industry, and most of the AI newsletters are simply overhyped - overpromise and underdeliver. What industry are you in?
We are building bluedothq.com
It's an AI note taking tool that records your meetings without the bots joining the meetings.
Here’s my post on how we reached $6K MRR in 5 months after the hard launch: https://www.indiehackers.com/post/our-saas-just-hit-6k-mrr-with-almost-0-paid-marketing-heres-how-we-did-it-baf039369a 😇
Very interesting! What newsletters brought you the most signups and tragic?
here you can find all the numbers: https://docs.google.com/spreadsheets/d/1YlRN7Du9PRSNQ7e23QnZW2c-ynzItVPVb6EaiJHWO7A/edit?usp=sharing
That’s nice! Thanks. What are the numbers in Results? Signups?
clicks
How about signups you got from those ads?
we haven't tracked the exact numbers. our analytics are shit now.
I manually ask folks who paid how did they learn about us.
Yes, that’s what I’m talking about. My goal is always conversions. So this doesn’t really make sense to me. It works ok for traffic and clicks, but not signups. Useless for me.
Thank you Russ, these are great tips and data.
Are you a software developer yourself, or did you hire some to build your tool?
i'm not a software developer. we have a CTO.
Newsletter seems to be a hidden gem for leads. If you don't mind me asking, what kind of newsletter should I target for my AI wrapper product?
Here is a full list with all the numbers: https://docs.google.com/spreadsheets/d/1YlRN7Du9PRSNQ7e23QnZW2c-ynzItVPVb6EaiJHWO7A/edit?usp=sharing
Thank you Russ. Appreciate it.
Valuable lessons, thanks for sharing it.
glad I can be helpful!
Interesting!
Hey Russ! I'd love the data you mentioned re: CPC. Currently working on my own AI newsletter briefs.aimply.io and doing a newsletter push soon.
sure, here you go: https://docs.google.com/spreadsheets/d/1YlRN7Du9PRSNQ7e23QnZW2c-ynzItVPVb6EaiJHWO7A/edit#gid=0
This is the type of transparency creators thrive on Russ 🙌 I've been toying with the idea of sponsoring posts for my opensource podcast/newsletter but I wasn't sure
thanks Renee!
you can find more details regarding the prices here: https://docs.google.com/spreadsheets/d/1YlRN7Du9PRSNQ7e23QnZW2c-ynzItVPVb6EaiJHWO7A/edit#gid=0
I def needed this article. Looking at useful ways to advertise my new project: www.emailglow.com It definitely solves a problem but the target market is sometimes hard to get in front of using traditional methods...
Hi Russ, I would love the numbers above. On another note, I feel like you and I should have a talk on a possible integration on our software (www.qanda.design). I feel like we might make a good fit
great insight
Great post. Thanks for sharing.
Great post ! Thanks for sharing the learnings and resources.
Sidebar - Did you feel that the AI meetings space is bit crowded in H2'23 ?
yes, it's very crowded
please don't start another AI meeting tool 😄
haha.. my concern stems from the fact that I'm building AI headshot generator.
How did you position or differentiate from the competition?
we don't use bots to record your meetings
99% of the tools do use bots. some ppl hate bots, so they use our tool
but you need to find something unique for your audience.
I still have to start my newsletter but this is great information. Saved it!
Loved the post! Do you have a twitter account so I can follow you?
sure, here you go: https://twitter.com/rusras_
i'm more active on linkedin though: https://www.linkedin.com/in/russkhalilov/
Could you please share the list? I'd appreciate it.
sure, here you go: https://docs.google.com/spreadsheets/d/1YlRN7Du9PRSNQ7e23QnZW2c-ynzItVPVb6EaiJHWO7A/edit?usp=sharing
I've been looking into newsletters too, but the ones i keep finding are way too expensive to sponsor. I'd be interested in your data
sure, here you go: https://docs.google.com/spreadsheets/d/1YlRN7Du9PRSNQ7e23QnZW2c-ynzItVPVb6EaiJHWO7A/edit?usp=sharing
Interesting - I often hear that newsletters are more for brand awareness rather than conversion. But maybe not 🤔
it really depends on your CPC
if my CPC is 0.70$ and ppl convert to paid, it's ok
but some newsletter charge min 1-2K, and then it's more of a "brand awareness".
that's why tracking the numbers matter.
Hi @russhalilov, do you think newsletters could be interesting for e-commerce agencies developing online shops?
honestly have no idea.
if the newsletter have relevant audience I think they don't care what to advertise.
Hey Russhanilov, looks like you've spent more than my monthly coffee budget on newsletters! Just a joke. Negotiating partnership is what I take from here. It changes everything. Thanks for sharing
haha, 2K is really nothing when I look how much some ppl charge
some newsletters charge 2-5K for one sponsorship
but for indiehackers like us it's tooo much :)
Please do share this data.
sure here you go: https://docs.google.com/spreadsheets/d/1YlRN7Du9PRSNQ7e23QnZW2c-ynzItVPVb6EaiJHWO7A/edit?usp=sharing
This is very useful. Thank you. I observed that the price in your sheet and what is on the passionfroot link is vastly different. For example Mastersof.work price is $100 in your sheet while their advertise page shows rates much higher upto $4800. Is it a different placement or well negotiated?
Mastersof.work reached out to me via email 2 months ago offering ads from 4800 to 600$.
I negotiated from 600$ to 100$. It was before the new year and I pushed them to give me a nice deal. Plus I gave examples of other newsletters who charged me 100$ for the same # of subscribers.
That's exactly what I'm talking about in point 3 of my story.
Always Negotiate.
If you want to see how I negotiated, let me know I will share some details.
Wow! That is brilliant negotiation. Please do share details of your approach. Sincerely appreciated
i would need to share this as a screenshot.
can't do it here in commments
please add me on linkedin and write that you are from IH
https://www.linkedin.com/in/russkhalilov/
“ Then I discovered a platform for finding, collaborating, and paying creators
It automates lots of manual work.”
Can you share the name of the platform? 🙏🏼
passionfroot.me
This is so helpful! After some spending of thousands of $ on the traditional marketing I decided to look into advertising in specific magazines related to my product and run some tests there. The insight you gave is very reassuring and the points you raised and super helpful.
I am curious though as you said you spent $2,000 on sponsoring ads. How many ads did you have? It sounds like very little even for a couple of magazines. If you could share tips on that, it would be great.
Thank you and good luck with your project 👊🏼
I had 20 ads. You can see the real numbers in this doc: https://docs.google.com/spreadsheets/d/1YlRN7Du9PRSNQ7e23QnZW2c-ynzItVPVb6EaiJHWO7A/edit?usp=sharing
Thanks a lot!
Which newsletter would you recommend - we are thinking of this right now!
The edge Newsletter
The Intelligence Age
Mastersofwork
AI Marketing School
AI Marketers
Not A Bot
Thanks! This is really useful 🙏
thanks for sharing!
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