Simon Owens's Tech and Media - Assessing the success of my newsletter
Assessing the success of my newsletterWould 2020 Simon be satisfied with the present day audience size of his media business?
Hello there! This is the latest edition of my Q&A series where readers ask me questions and I do my best to answer them. But there’s a catch: while the answers are free to read, only the paying subscribers get to ask the questions. If you’re a paying subscriber who wants to ask a question for the next edition, you can leave it in this thread over here. And if you want to subscribe, the link below will get you 10% off for your first year. Not only will you be able to participate in these Q&A sessions, but you’ll be supporting the work I do for my newsletter and podcast. Ok, let’s jump into it… Assessing the success of my newsletterThe first questions comes from Sarah Bean
I would divide the history of my newsletter into two distinct eras. The first era stretches from roughly 2014 to February 2020. That’s when I used the newsletter mainly as a distribution channel to drive people to content elsewhere. I sent it out sporadically, usually only when I had a new longform essay or article that I wanted to point people to. As a result, growth was slow. By February 2020, it had about 1,200 subscribers. I wouldn’t say that I had any coherent strategy or expectations during that era. In February 2020, I launched the paid version of the newsletter, and that’s when I more or less started trying to turn my newsletter and podcast into a full-time gig. Between then and now, I grew the newsletter to 4,597 (free) subscribers. The podcast averages around 1,000 downloads per episode. So let’s get to the first part of your question: “How has the journey of building your newsletter been vs what you expected?” Let’s say I traveled back in time and told 2020 Simon where his newsletter would stand in May 2022. Would he be disappointed or encouraged? If I’m being honest with myself, I’d say he’d be pretty disappointed. I always assumed that there’d be some sort of tipping point that led to accelerated growth. Instead of only expanding my list by a few dozen a week, I would suddenly start growing the list by the thousands. I would then convert a sizable chunk of those incoming readers into paying subscribers, and then before you knew it I’d have my 1,000 true fans. But while I certainly did have good weeks when I saw spikes in new signups, those spikes always leveled back toward the norm. I never managed to hit that hockey stick growth trajectory that you often read about in Creator Economy profiles —- the ones where a creator suddenly goes from thousands of views to millions over a period of just a few months. Every time I felt like I was building momentum, I’d suddenly hit a slow growth period where I was once again wading through molasses. I’m probably sounding pretty down right now about the business, but the truth is that I’ve been incredibly optimistic these last few months. In the beginning of 2022, I finally admitted to myself that I wasn’t going to build a sustainable income through paid subscriptions alone, and in March I announced both sponsorships and an $800 online course. We now have 20 enrollees in the course and my sponsorships are sold out until August. For the first time since February 2020, I’m making something close to a living wage from my content. I’m also starting to achieve some of that elusive momentum that I’d hoped for. Between March 1 and today, my newsletter grew by 544 signups. Over the same time period prior to that date, it had only grown by 245 signups. That’s a 120% increase in the growth rate. I’m finally beginning to see the benefits that come from having a very large archive of high-quality content. Ok, now on to the second part of your question: “Where have you experienced the best community feedback, growth channels?” Some people are going to consider my answer super lame, but some of my best engagement has come from my Facebook group. I’ve been extremely disciplined about only promoting it at the very bottom of my newsletter. I also implemented an automated question that forces people to tell me where they found the group. I reject anyone who doesn’t list my newsletter as the source. As a result, the signal-to-noise ratio is pretty good. Nearly every person in the group works in media and is a fan of my work, and they’ve been generally excited to chat with me about industry news. It also helps that Facebook prioritizes group posts within the Newsfeed. I don’t have any hard data to back this up, but I’d be willing to bet that members of the group are more likely to open my newsletter, convert into paying subscribers, and recommend it to others. Now, every now and then someone scolds me and says I shouldn’t be building an audience on Facebook’s land. They tell me that I should instead migrate the group over to a more decentralized platform like Slack or Discord. I just don’t buy this argument. First, I don’t put more into Facebook than I get out of it. I spend no more than an hour or two responding to the comments each week, and if it disappeared tomorrow my business would be largely unaffected. Also, for better or worse, Facebook is the most-used app on the planet and is already built into people’s daily habits. Every time I get added to someone’s Slack group, I’m all gung ho about posting there for a few days before it quickly falls out of my website rotation. I’m not going to launch a community on a platform I don’t regularly use myself. What's the best way to grow a newsletter in 2022?[Sponsored] To discover what's actually working for newsletter growth right now, you should sign up for the Send & Grow newsletter. Over ten thousand smart newsletter operators read it every Wednesday — including leaders from brands like Morning Brew, Washington Post, Front Office Sports and more. Each week, you get a new, actionable insight to help you smash your audience growth goals. From free playbooks to exclusive behind-the-scenes access at the world's fastest growing newsletters. Join now and upgrade your newsletter growth today. Is Substack still my go-to choice?The next question comes from Mignon Fogarty
So I actually wrote a piece back in April titled “Substack's biggest competitor isn't who you think it is.” You should definitely check it out to get my full thoughts of where Substack fits within the competitive landscape. But to answer your question directly: Yes, if I were starting a newsletter today, I’d still use Substack. Before I talk about why, I should start by acknowledging that there are two types of newsletter creators:
If you fit into the first group, then you definitely don’t want to use Substack. But if you, like me, fit into the second group, then Substack is the best option. And I’m willing to bet that the vast majority of creators fit into that second group. So now that we have that out of the way, let’s talk about why Substack beats out its competitors: It’s free I think this is one of the most underrated features of Substack, and it’s something its biggest critics fail to acknowledge. I can sign up for an account and send my newsletter to an unlimited list, and the platform won’t charge me a dime, at least until I start monetizing it through paid subscriptions. Most other email tools start charging you right away, with the price going up as your list grows. There are only three tools that I know of that are completely free from the get-go: Tinyletter, Revue, and Substack. And I wouldn’t really consider Tinyletter an option, considering that it doesn’t allow for paid subscriptions and it’s basically been dying on the vine for years. I’m honestly surprised it still exists. It looks good on the web Substack is often referred to as a “newsletter” platform, but it honestly looks really good on the web — as good as Medium, Wordpress, Blogspot, or any other CMS. There might not be a ton of design customization available, but you can rest assured that any reader who lands on one of your articles will find it easy-to-read and aesthetically inoffensive. Honestly, I think Revue lags in this area. To get a feel for what I mean, compare this Substack article to this Revue post. The latter just doesn’t look very good, and the auto-loaded thumbnail looks bad when you try to share it on social media. I would give Revue’s article web presentation a C-. It has the most robust set of features This is where Substack really breaks away from the pack. It just has so many more features than your average free publishing platform, and it’s shipping new ones every week. For instance, in addition to distributing newsletters, Substack will also allow you to host and distribute podcasts, both free and paid. It revamped its analytics dashboard so you can segment lists. It launched a “recommendations” feature that makes it easier for newsletters to cross-promote each other. It operates a mobile app. And it also has a pretty decent customer service team who will answer your subscribers’ technical questions. The icing on top of the cake Lastly, I think it’s important to point out that I’m never truly wedded to Substack. At any point, I can export both my free and paid subscribers, so if I ever find a truly better platform, I can just leave. That’s really why there’s no downside to starting an account on Substack and utilizing its free email features; if you’re ever dissatisfied, you can pick up and go. That feature alone is why I value Substack more than every single other social media platform combined. How to get yourself listed in PR databasesFrom Tim Benjamin
The PR distribution platforms are the bane of my existence and you should thank god that you’re not on their radar. I would seriously pay someone $100 to remove me from all these platforms permanently, and I spend a significant portion of my week wading through badly targeted press releases sent by people who have no idea who I am. These platforms do nothing but promote laziness within the PR industry, because instead of doing actual research, flaks will just filter through broad categories and then blast an email out to hundreds of unsuspecting victims. The PR firms who use these databases charge huge monthly retainers to their clients, and for the most part that’s money that would be better spent on content marketing. Sorry, I know I didn’t actually answer your question, but I’m doing you a favor, really. Quick hitsMost crypto startups are glorified pyramid schemes, but there’s something particularly dystopian about “play to earn” games. [Vox] From the article: “You don’t literally own an item. You own a pointer to an image on a game company’s servers. They can alter it or delete it. If they go out of business, it’s gone. It’s purely a marketing term” Instagram shares revenue with video creators but not still photographers. Why? Is there something inherent in still photography that makes it non-valuable? [Insider] (this is a rhetorical question. I believe Instagram should share revenue with all its creators). Amazon became an advertising behemoth in just a few years. Now Microsoft is poised to do the same. [Digiday] VCs are investing in media again, only now they're making lots of small bets through holding companies rather than dumping hundreds of millions of dollars onto a single outlet. [WSJ] "Theatrical movies … tend to perform better on HBO Max than movies made exclusively for the service." [WSJ] Man, Hank Green did an excellent job of calling bullshit on Instagram's claims that it wants to "figure out a way" to help creators making a living. [Hank Green] An interesting look at the Facebook strategies for local TV news stations, which tend to have way more reach than their newspaper counterparts. [Nieman Lab] ICYMI: Why a Hell’s Kitchen print magazine pivoted to newslettersPhil O’Brien realized that distributing a print magazine during the Covid shutdown would be impossible. Let’s spend more time togetherThis newsletter only goes out once a week, but I’m dipping into my Facebook group several times a day to chat with readers. I only promote the group at the bottom of this newsletter, which means that it only has members who are as obsessed with the media industry as you are. You can join here: [Facebook] You’re a free subscriber to Simon Owens's Media Newsletter. For the full experience, become a paid subscriber. |
Older messages
Why media companies don’t partner up on bundled subscriptions very often
Thursday, May 12, 2022
It really all comes down to logistics.
How a serial media entrepreneur launched a new MVP
Thursday, May 5, 2022
Alexis Grant walks us through how she launched They Got Acquired.
An industry-wide slowdown in subscription growth
Wednesday, April 27, 2022
It's not just Netflix that's stalling out; lots of publishers are struggling to maintain their early subscriber growth numbers.
Should newsletter creators embrace programmatic advertising?
Wednesday, April 20, 2022
Most newsletter advertising is still negotiated and executed through person-to-person interactions.
Substack's biggest competitor isn't who you think it is
Wednesday, April 6, 2022
It's no longer just a newsletter platform, and it's steadily encroaching on Patreon's turf.
You Might Also Like
Volunteer DEF CON hackers dive into America's leaky water infrastructure [Mon Nov 25 2024]
Monday, November 25, 2024
Hi The Register Subscriber | Log in The Register Daily Headlines 25 November 2024 water Volunteer DEF CON hackers dive into America's leaky water infrastructure Six sites targeted for security
EndHunger_FinalForReal.docx
Monday, November 25, 2024
The G20 have a new plan, again what happened last week in Asia, Africa and the Americas Hey, this is Sham Jaff, your very own news curator. Each week, I highlight some of the biggest stories from
The House Just Blessed Trump’s Authoritarian Playbook by Passing Nonprofit-Killer Bill
Monday, November 25, 2024
Democratic support for the bill dwindled as critics warned it would let Donald Trump crack down on political foes. Most Read The House Just Blessed Trump's Authoritarian Playbook by Passing
Monday Briefing: U.N. climate talks end with a deal
Sunday, November 24, 2024
Plus, photographing the world's food. View in browser|nytimes.com Ad Morning Briefing: Asia Pacific Edition November 25, 2024 Author Headshot By Gaya Gupta Good morning. We're covering a deal
GeekWire's Most-Read Stories of the Week
Sunday, November 24, 2024
Catch up on the top tech stories from this past week. Here are the headlines that people have been reading on GeekWire. ADVERTISEMENT GeekWire SPONSOR MESSAGE: Get your ticket for AWS re:Invent,
13 Things That Delighted Us Last Week: From Daschund Bags to Sparkly Toilet Seats
Sunday, November 24, 2024
Plus, the Gucci poker set that Jennifer Tilly packs in her carry-on. The Strategist Logo Every product is independently selected by editors. If you buy something through our links, New York may earn an
LEVER WEEKLY: Trump's Cabinet Of Curiosities
Sunday, November 24, 2024
Opening up Trump's corruption-riddled cabinet and more from The Lever this week. LEVER WEEKLY: Trump's Cabinet Of Curiosities By The Lever • 24 Nov 2024 View in browser View in browser This is
What our travel expert brings on every trip
Sunday, November 24, 2024
M&Ms? View in browser Ad The Recommendation Ad Traveling is stressful for everyone, even travel writers Various travel gear items laid out on a yellow background. Michael Hession/NYT Wirecutter
☕ The Brew’s Holiday Gift Guide
Sunday, November 24, 2024
What to get everyone in your family... Presented By Bose November 24, 2024 | View Online | Sign Up | Shop Sunny Eckerle NOTE FROM THE WRITERS Good morning! Cassandra and Matty here, Morning Brew's
How Friendsgiving became America's favorite made-up holiday
Sunday, November 24, 2024
Plus: The real story behind FX's "Say Nothing," the horrifying effects of air pollution in South Asia, and more. November 25, 2024 View in browser Friendsgiving is just what America