How To Build a $10k+ Per Month Newsletter, Step By Step

How to Start Your Newsletter and Grow Subscribers

Introduction to the Training

• The session focuses on starting a newsletter, acquiring the first 10,000 subscribers, and generating $10,000 or more in monthly sales.

• Target audience includes individuals unsure about starting a newsletter, those with existing small lists wanting growth, and established media businesses seeking advanced tactics.

Key Learning Objectives

• Participants will learn how to select a profitable niche for their newsletter.

• Instruction on creating an irresistible newsletter offer that encourages sign-ups.

• Techniques for producing high-quality content efficiently and leveraging one weekly newsletter into multiple posts annually.

Growth Strategies

• Discussion of automated subscriber acquisition methods for consistent growth without ongoing effort.

• Insights into scaling email lists profitably to reach 100,000 or even over 1 million subscribers.

• Explanation of monetization strategies including earning per new subscriber and selling sponsorships regardless of list size.

Importance of Email Newsletters

• Emphasis on the cost-effectiveness of starting an email newsletter—$0 startup costs are highlighted as only requiring a laptop and internet connection.

• Advantages of owning an email list versus social media platforms; no algorithms interfere with direct communication with subscribers.

Final Thoughts on Email Newsletters

• Reinforcement that building an engaged email list allows creators to own their audience and generate passive income streams online.

• Encouragement that newsletters provide significant opportunities for influence and business growth.

Success Story: Guy Short's Newsletter Journey

Case Study Overview

• Introduction of Guy Short as a successful client who grew his Flyover Newsletter from zero to over 750,000 subscribers in just 17 months.

• Highlighting Guy's achievement in reaching seven figures in ad revenue within the same timeframe.

About the Presenter: Matt McGary

Background Information

• Matt McGary is introduced as the founder and CEO of Growlet, specializing in marketing for media companies and newsletters.

Freelancing Success and Newsletter Growth

Overview of Freelancing Journey

• The speaker discusses their experience freelancing and consulting for various newsletter businesses, starting with 1440 Media in 2021, which has grown to over 3.8 million subscribers and $15 million in revenue with a small team.

Key Clients and Achievements

• Worked with Sean Puri, founder of the Milk Road newsletter, helping it grow from 10,000 to over 250,000 subscribers within ten months before its acquisition for seven figures.

• Involved in three successful newsletter acquisitions: The Hustle to HubSpot, Milk Road to Bit Bfo, and Charter to Robinhood.

Personal Accomplishments

• Created a top newsletter and podcast about newsletters with over 26,000 subscribers; built a business generating seven figures in annual recurring revenue (ARR) within two years.

• Cited by Austin Rief of Morning Brew as having the best resource on newsletters; Morning Brew was acquired for $75 million in 2022.

The Right Grow Sell System

Introduction to the System

• Developed a system called "Right Grow Sell," focusing on writing newsletters regularly to build subscriber lists that can be monetized through sponsorship or product sales.

Benefits of the System

• Helps identify lucrative niches and create engaging content that attracts subscribers while improving email engagement metrics like open rates and click-through rates.

Proven Results

• Generated over 10 million newsletter subscribers for clients; notable successes include James Clear gaining 300,000 subscribers at $0.50 each in four months.

Understanding Audience Funnels

Concept of Audience Funnels

• Introduces the audience funnel concept: transitioning from a rented audience (social media followers), to an owned audience (newsletter subscribers), culminating in a monetized audience.

Risks of Rented Audiences

• Highlights risks associated with relying solely on rented audiences from social media platforms due to algorithm changes that can limit reach or visibility.

Future Predictions

Building an Owned Audience: Key Strategies

The Impact of Algorithm Changes on Businesses

• Many businesses have been adversely affected by frequent updates to Google and Facebook algorithms, leading to bankruptcies like Vice and BuzzFeed News.

• Emphasizes the necessity of building an owned audience through channels such as email, SMS, podcasts, or private communities for sustainable business growth.

Importance of Email Newsletters

• Email newsletters are highlighted as the easiest method to grow an audience due to lower barriers in acquiring email addresses compared to other platforms.

• They provide clear subscriber attribution, allowing businesses to track where subscribers come from and how they convert into customers.

• Email has a significantly higher click-through rate and conversion rate than podcasts or social media, making it a superior channel for monetization.

Growing Your Newsletter Effectively

• Success in growing a newsletter hinges on selecting the right niche and creating compelling offers tailored for that niche.

• A well-defined niche leads to better engagement rates, lower subscriber acquisition costs, and increased lifetime value (LTV).

Choosing Between Hyper Scale vs. Hyper Niche

• To achieve hyper scale, aim for a total addressable market (TAM) of 30 million or more; this allows potential growth into millions of subscribers over time.

• Examples like 1440 demonstrate successful hyper-scale strategies starting from small audiences but expanding rapidly over years.

Advantages of Going Hyper Niche

• Focusing on a hyper-niche can lead to quicker success with fewer subscribers needed (5k - 10k), making it easier to attract sponsors.

• Most newsletters fail by trying to appeal broadly; narrowing focus helps stand out in crowded markets.

Criteria for Picking a Lucrative Niche

• Skills & Experience: Leverage personal expertise related to the niche you choose.

• Audience Need: Ensure there is a significant problem your content can solve for the target audience.

• Advertiser Value: Assess if advertisers are interested in your niche based on CPM rates and competition levels.

Niche Selection and Newsletter Creation

Understanding Niche Selection

• Identifying the right niche involves analyzing audience size and advertising opportunities, often represented in a Venn diagram. Most people tend to choose overly broad niches.

• A broad niche like "business" has a large potential audience but low lifetime value (LTV). Narrowing down to "marketing" improves LTV, while further narrowing to "social media marketing" offers even higher LTV with still significant audience size.

• It is advisable to start with a very specific niche and expand later rather than starting too broadly and risking alienation of your target audience.

• Examples of niche refinement include starting with "fitness," then narrowing down to "bodybuilding," and finally focusing on "how to bodybuild on a keto diet."

• The goal is to become an expert in your chosen niche over time, refining your content until you are recognized as the best in that area.

Crafting an Irresistible Newsletter Offer

• A successful newsletter must have a compelling value proposition that addresses painful problems for readers, such as job loss or financial issues.

• Utilizing the jobs-to-be-done framework helps categorize newsletters based on the specific problems they solve for their readers.

• Examples of effective newsletters include those that help save money on flights, improve parenting skills, or provide concise news updates. Each serves a distinct purpose for its audience.

• To define your newsletter's focus, identify your ideal reader (your market of one) and specify how you will help them achieve their goals or solve their problems.

• If you can clearly articulate these elements, your newsletter will stand out more effectively in the competitive market.

Successful Newsletter Examples

• The Assist is a newsletter aimed at helping women become better managers; it has nearly 880,000 subscribers due to its unique job-to-be-done approach.

• Anticitizen focuses on helping individuals reduce government oversight and tax liabilities while increasing personal freedom; it’s rapidly growing with low subscriber acquisition costs.

• Naptown Scoop provides local news from Annapolis in an engaging manner by covering positive community events instead of typical crime-focused reporting.

Content Creation Strategy

Newsletter Structure and Growth Strategies

Key Components of an Effective Newsletter

• The concept of a "Market of One" is essential in tailoring newsletters to meet specific audience needs, using various sections as building blocks.

• Recommended newsletters for inspiration include Morning Brew, 1440, The Hustle, and Axios; subscribing to these can provide valuable ideas for structuring your own newsletter.

Essential Sections for Newsletters

1. Introduction Section

• This section should grab attention and tease upcoming content while creating an open loop to encourage continued reading.

2. Curated Content Section

• Share the best news and resources found during the week; summarizing or adding commentary here can significantly boost engagement rates.

3. Promotional Section

• Promote sponsors or your products/services succinctly (under 100 words), ensuring it fits seamlessly within the newsletter's flow.

4. Main Content Section

• Focus on original content that educates, informs, entertains, or tells a story; aim for a read time under five minutes with concise paragraphs.

5. Outro Section

• Use this space consistently across newsletters to share calls-to-action and additional resources related to your offerings.

6. Poll/Feedback Section

• Collect reader feedback through polls to gain insights beyond open rates and click-through rates; aim for high ratings (75%+).

Utilizing AI Tools for Writing Efficiency

• After producing several issues, writing becomes easier with AI assistance; tools like ChatGPT, CLA, and Perplexity can enhance different aspects of content creation.

• CLA excels at generating original content with a natural tone; ChatGPT is ideal for editing and refining existing text while Perplexity aids in research.

Expanding Reach Through Content Distribution

• Transforming one weekly newsletter into over 500 posts annually can drive significant subscriber growth by leveraging social media platforms.

• Publishing content on discovery platforms is crucial since email alone lacks discoverability; utilize algorithms or sharing features effectively.

Repurposing Newsletter Content

• Each newsletter should be repurposed into multiple social media posts across platforms like Twitter and LinkedIn to maximize reach.

How to Grow Your Newsletter Audience

The Power of Content Repurposing

• Approximately 30% of traffic comes from search due to a year-long newsletter effort and SEO tweaks, highlighting the importance of consistent content creation.

• By repurposing a weekly newsletter into multiple social posts and blog entries, one can generate up to 520 social posts and 52 blog posts annually, significantly increasing content output.

Building a Subscriber Base

• High-quality subscribers can be acquired through methods beyond social media or search; some newsletters thrive without these channels.

• Traditional milestone referral programs are ineffective as most individuals lack the network size needed for such schemes.

Effective Referral Programs

• A successful alternative is the "one reward referral program," which automates subscriber acquisition by offering digital products in exchange for referrals.

• Digital lead magnets should provide immediate value and be easy to consume, ideally taking less than 10 minutes to engage with.

Examples of Successful Lead Magnets

• Effective lead magnets include cheat sheets, checklists, databases, short reports, swipe files, resource lists, and templates that deliver quick results.

• Notable examples include:

• Milk Rug's report on crypto trading strategies leading to 26,000 new subscribers in six months.

• Ben Bites' link database for AI resources attracting over 30,000 subscribers.

Tips for Optimizing Referral Programs

• Utilize platforms like Beehive or Spark Loop for setting up referral programs efficiently; Beehive allows setup in about five minutes.

• Regularly update promotional copy and images every month or two to avoid banner blindness among potential referrers.

How to Drive Newsletter Growth with Automated Feedback and Meta Ads

Setting Up Automated Feedback for Referrals

• Implement a poll trigger email that sends an automated thank-you message when subscribers provide positive feedback, such as a five-star rating.

• Encourage subscribers to share the newsletter through a referral program by offering rewards, which has proven effective for others in similar programs.

Strategies for Rapid Subscriber Growth

• Utilize social media posts, blog content, and referral programs to quickly grow your subscriber base from 1,000 to over 100,000.

• For scaling beyond 100,000 subscribers up to millions, paid acquisition strategies are essential.

Leveraging Paid Acquisition with Meta Ads

• Meta ads are identified as the most effective paid acquisition source for growing newsletters profitably.

• Successful campaigns have achieved costs per subscriber ranging from $0.50 to $2.00 while breaking even on ad spend on day one.

Setting Up Effective Meta Ads

• Use the lead objective and website conversion campaign settings; broad targeting allows Facebook's algorithm to optimize audience reach.

• Focus on compelling ad creative rather than just media buying; three effective styles include iPhone Notes screenshots, motion graphics, and user-generated content (UGC) videos.

Creating Compelling Ad Creative

• iPhone Notes ads can be created easily by taking screenshots of notes; Canva is recommended for those without an iPhone.

• Motion graphics should feature engaging text over relevant video backgrounds; good copy is crucial for effectiveness.

• UGC videos featuring creators discussing the newsletter work best when kept between 20 to 30 seconds long.

Testing and Optimizing Your Ads

• Set up one campaign with broad ad sets and continuously test new ads—start with four ads and introduce two or three new ones weekly.

• Avoid using Facebook lead forms due to lower quality leads; instead, direct users to dedicated landing pages followed by thank you pages.

Monetizing After Sign-Up

• There are four immediate monetization strategies post-sign-up: paid recommendations of other newsletters, tripwire offers (low-ticket products), lead generation sales, and affiliate marketing offers.

Detailed Monetization Strategies

• Paid recommendations can earn $0.50-$1 per subscriber using tools like Sparkle or Beehive Boost; setup takes about 30 minutes.

How to Monetize Your Newsletter Effectively

Bundled Course Sales

• Matt Gray offers a bundle of three courses for $29, significantly cheaper than the total cost if purchased separately, which could be hundreds of dollars.

• Selling a product on the thank you page can yield earnings per subscriber; for example, selling a $49 product with a 2% conversion rate results in 98 cents earned per subscriber.

Lead Generation Strategies

• Post-signup surveys can collect valuable data from subscribers and allow selling their email addresses to sponsors targeting specific user criteria.

• An example from Industry Dive shows how they gather information through surveys after newsletter signup, offering lead magnets sponsored by advertisers.

• Qualified leads can sell for $50 to $250 each, providing significant revenue potential for B2B newsletters.

Affiliate Marketing Opportunities

• Promoting affiliate offers on thank you pages is effective; focus on offers that pay per lead or click rather than commission-based sales.

• Successful examples show newsletters recouping ad spend through affiliate marketing strategies on their thank you pages.

Combining Revenue Streams

• Market Beat combines paid recommendations with an offer wall of affiliate products and subscription discounts post-signup to maximize earnings.

• A conservative example illustrates earning $1.79 per subscriber through various monetization methods after acquiring subscribers at a low cost.

Selling Sponsorships with Small Lists

• Even small niche newsletters (around 5,000 subscribers) can start selling sponsorship opportunities effectively as they grow.

• Pricing sponsorship ads typically follows a cost-per-click model or CPM (cost per thousand opens), starting around $5-$10 per click.

Finding Sponsors and Automating Outreach

• Research similar newsletters to identify potential sponsors and reach out via email or LinkedIn for advertising opportunities.

How to Effectively Monetize Your Newsletter

Identifying Potential Advertisers

• Prospects who subscribe to your newsletter can be valuable advertisers or clients. You can view their job titles, organizations, and LinkedIn profiles, making it easier to reach out with personalized messages or cold outreach sequences.

Selling Sponsorships and Custom Content

• It's more effective to sell sponsorships and custom content to existing subscribers than non-subscribers. Sponsorships involve ad spots in your newsletter, while custom content includes sponsored posts that provide greater value for advertisers.

• Custom content can be priced significantly higher than standard ads—potentially three to six times more—creating substantial revenue opportunities. For example, if standard ads are $500, custom pieces could sell for $2,500 or more.

Types of Custom Content

• Various formats for custom content include product reviews, how-to articles about the advertiser's products, and listicles relevant to the audience's interests. The key is ensuring the content resonates with both the audience and the advertiser.

Expanding Revenue Streams

• Newsletter sponsorship is just one way to monetize; successful media newsletters typically employ two to five monetization strategies. This diversification is crucial for maximizing income potential.

Importance of Email Automation

• Email automation allows you to generate income passively by engaging readers and driving sales without constant manual effort. Automations work around the clock, providing leverage from your email list.

Essential Email Sequences

1. Welcome Sequence:

• A series of 5–10 emails sent over 30 days after a new subscriber joins helps build trust and promote products effectively.

2. Winback Sequence:

• This consists of 1–2 emails targeting disengaged subscribers (those with no opens/clicks in 14–21 days), aiming to retain them rather than acquiring new ones.

3. Trigger Sequence:

• Emails sent based on specific actions taken by subscribers (e.g., completing a survey or clicking a link). This targeted approach enhances relevance and response rates.

4. Sales Sequence:

• After engaging with your newsletter post-welcome sequence (with certain engagement metrics), this series aims directly at driving sales through tailored messaging.

Subscriber Growth Strategy

How to Achieve $10,000 Monthly Revenue from Your Newsletter

Understanding the Snowball Effect in Subscriber Growth

• The concept of a "Snowball Effect" is introduced, emphasizing how initial growth can lead to exponential increases in subscribers and revenue.

• A breakdown of potential revenue streams shows that adding 20 subscribers daily for three months could yield 1,800 subscribers, leading to over $10,000 in revenue through various conversions.

Revenue Streams Breakdown

• Detailed calculations reveal that selling four sponsorships at $500 each per month can generate significant income.

• Additional revenue sources include custom content sales and coaching calls, illustrating diverse monetization strategies beyond just subscriber fees.

Examples of Successful Newsletters

• Notable acquisitions highlight the potential value of newsletters: Milk Road was acquired for seven figures within ten months; Industry Dive reached $525 million after ten years.

• Other examples include Morning Brew ($75 million), The Hustle ($27 million), and Axios ($525 million), showcasing the lucrative nature of successful newsletter businesses.

Course Introduction: Right Grow Sell

• An upcoming cohort-based course titled "Right Grow Sell" aims to teach participants how to grow and monetize their newsletters effectively.

• The course targets founders, creators, and marketers with limited enrollment to ensure personalized support during the five-week program.

Course Content and Structure

• Participants will learn actionable tactics used by successful newsletters that have driven millions in sales. The course promises no fluff or upselling—just comprehensive knowledge sharing.

Newsletter Growth Strategies

Overview of the Course

• The course is designed for marketers, particularly those with newsletters under 25,000 subscribers. It aims to help find a niche and start or improve a newsletter.

• It offers comprehensive training covering all necessary aspects in a clear, step-by-step system with templates and examples.

Course Structure and Guarantee

• A 100% money-back guarantee is provided if the required materials are completed within five weeks; this ensures commitment to achieving results.

• Over 300 students have participated in previous versions of the course, with more than 200 leaving five-star reviews.

Student Success Metrics

• The course boasts a net promoter score (NPS) of 76, indicating high satisfaction among participants compared to typical courses that often have negative scores.

• On average, students added 2,766 subscribers during the program; many started from zero while balancing full-time jobs.

Testimonials and Results

• Students like Nico reported significant revenue increases and subscriber growth through effective strategies learned in the course.

• Participants noted improvements in their newsletters' performance metrics such as open rates and click-through rates after implementing course teachings.

Course Accessibility and Time Commitment

• The course includes two live sessions per week on Tuesdays and Fridays at noon Eastern Time, which are recorded for later access.

• Approximately four to five hours per week are needed for both attending sessions and implementing learned strategies.

Newsletter Growth and Monetization Course Overview

Course Effectiveness and Testimonials

• The course has helped over 300 students, with more than 200 five-star reviews, indicating high satisfaction and effectiveness.

• Student Rick reported learning new strategies that resulted in hundreds of new subscribers within weeks, highlighting the practical benefits of the course.

• Tim shared a significant return on investment (ROI), having recouped his course costs quickly, emphasizing its value for serious newsletter creators.

Unique Learning Approach

• Unlike passive online courses, this program involves active participation where students work directly with the instructor to grow their newsletters step by step.

• AR noted that the course encourages immediate action and sharing results for feedback, fostering a collaborative learning environment.

Financial Investment Justification

• The cost of working with Matt's agency is $48,000 annually; however, this course offers similar insights at a fraction of the price.

• A well-monetized newsletter can yield substantial revenue; for instance, adding 5,000 subscribers could generate $115,000 if just 2% purchase a product priced at $150.

Pricing Structure and Value Proposition

• The course is priced at a one-time fee of $997, making it accessible compared to other expensive marketing courses ranging from $2,000 to $77,000.

• Enrollment includes lifetime access to all resources and community support beyond just the initial cohort period.

Enrollment Details and Guarantees

• Limited spots are available (250 total), with enrollment closing on September 16th at midnight. Early registration is encouraged due to high demand.

• A 100% money-back guarantee is offered if participants complete required materials within five weeks—reducing financial risk for enrollees.

Call to Action

• Interested individuals should act quickly to secure their spot in the program as limited availability remains.

Enrollment Information and FAQs for the Course

Course Cost and Payment Options

• The investment for the course is $997, significantly lower than similar courses priced between $2,000 to $5,000.

• A payment plan is available through Carolana, allowing payments in four to ten installments. Ensure proper setup to avoid missing enrollment.

Attendance and Access

• Live attendance is not mandatory; recordings, notes, transcripts, and slides will be provided for all sessions.

• Group pricing discounts are available if adding multiple team members; contact for details.

Course Structure and Commitment

• Expect a time commitment of two to three hours per week for live sessions or content review, plus an additional two hours weekly for newsletter growth work.

• The course spans five weeks, with two sessions each week on Tuesdays and Fridays at 12:00 PM Eastern Time. Each session includes 60 minutes of instruction followed by a 30-minute Q&A.

Course Materials and Tools

• Participants have lifetime access to course materials including live session recordings, templates, transcripts, etc.

• While no specific newsletter tool is required, using Beehive is highly recommended due to focused tutorials. Familiarity with your own ESP (Email Service Provider) is essential.

Additional Insights on Participation

• No budget for paid ads is necessary but having one can enhance learning; a minimum of $200-$500 is suggested if testing ads.

• The course accommodates all experience levels; technical setup guidance will be provided regardless of prior knowledge.

Target Audience and Refund Policy

• You do not need an existing newsletter or niche; assistance in finding a lucrative niche will be offered during the course.

• A full refund policy exists if participants complete required materials within the five-week program.

Instructor Interaction and Final Notes

• There are opportunities for direct interaction with the instructor through Q&A sessions after each core section and office hours totaling five hours over five weeks.