OCTOBER 18, 2022

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Welcome to The Tilt, a twice-weekly newsletter for content entrepreneurs.

In This Issue: Ready for referrals? Curious-over-controversial podcast creators tell their story. Plus, some unsettling news for YouTubers.

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Making sure your content gets found is a problem faced by over half (57%) of content creators.

What if your existing audience could help? Even better, what if they could secure new subscribers for your content business?

It’s all possible with a referral rewards program.

​Morning Brew credited 35% of its 2.4M subscribers to its referral program in 2020. Their data shows those referred subscribers are among their most engaged. Engagement from referring subscribers usually increases, and their tenure is longer.

How do you launch a referral rewards program for your content business?

Start with these two questions: What rewards will you offer? How will you administer the referral rewards program?

What rewards will you offer? Common reward categories for content entrepreneurs include:

• Exclusive content
• Discounts or free access to premium content
• Discounts or free brand merch or other products
• Social tokens or points that can be held and/or redeemed for rewards listed above
• Gift cards to vendors your audience patronizes
• Entries into a drawing for a big gift like an iPad, airline ticket, etc.

Begin to think about how to structure a tier reward system. Will your subscribers earn the same reward for every referral? Will they be rewarded with bonuses when they refer a high number? Can they accumulate their referrals for a bigger reward?

As you identify the possibilities, you also must identify the potential cost. Calculate potential cost per subscriber and subscriber lifetime value to structure a feasible reward referral program.

Cost per subscriber (CPS) is the single subscriber acquisition cost. To calculate, take the total reward price and divide it by an estimate of referrals required to earn that reward.

For example, let’s a T-shirt (with shipping) would cost you $19. If you estimated a T-shirt would be the prize for 15 referrals, the cost per referred subscriber would be $1.27.

We find most companies want to keep the CPS to less than $2 or $3 if the subscriber lifetime value is at least $15. Of course, ultimately, it’s up to your budget and growth goals.

To understand the financial value of an average subscriber (i.e., how much revenue they’ll generate) for your business, estimate the subscriber lifetime value.

​Sparkloop has a great subscriber lifetime value calculator for newsletter creators, but it can be helpful for most creators. Among the revenue-related elements to consider: clicks on affiliate links, buying products through your links, seeing advertising in your content, or upgrading to a paid content offering.

How will you administer the referral program? Setting up a referral reward program requires a solid tracking structure. How will you know who referred a subscriber? How will you calculate and issue their rewards?

In most cases, online tools can help you streamline your subscriber referral process. Their features include automatic tracking, customizable templates, fraud detection, third-party integrations, and built-in analytics. Popular referral services include:

• ​Sparkloop works for newsletter providers.
• ​Viral Loops is an all-in-one marketing platform that includes referral programs.
• ​Genius Referrals is general referral software.
• ​UpViral can work with businesses of various sizes and budgets.
• ​Rewardful works for paid newsletters or affiliate programs.

If you can’t afford an automated referral program, you can set up a manual system. However, the results of this labor-intensive referral program may not be worth your time.

You’ve done all the prep work to get a program started. You have everything in place. You’re ready to spread the word about these word-of-mouth referrals.

– Marc Maxhimer

Get info on how to promote your referral rewards program and how The Tilt does ours.

And for even more strategies for growing your audience, join us for Creator Economy Expo in May 2023. Best prices available now.

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Entrepreneurs: Sarah Stewart Holland and Beth Silvers

Biz: Pantsuit Politics

Tilt: Curiosity over conflict

Primary Channels: Podcast

Other Channels: Instagram (46.6K), Twitter (17.3K), Facebook (13K), TikTok (1.2K)

Time to First Dollar: About a year (4 years until they could make it their full-time jobs)

Rev Streams: Podcast advertising, listener support, live events, merchandise, affiliates, speaking engagements, and book sales

Our Favorite Actionable Advice:

• Market on other podcasts: Sarah and Beth credit their appearance on Jen Hatmaker’s podcast for attracting many new subscribers. They also appeared on Decode DC podcast.
• Don’t set unrealistic expectations: You don’t need hundreds of thousands of listeners to make it a viable business. They average 40K downloads per episode and now employ four people, including themselves.
• Keep overhead low: Resist the urge to invest in the best equipment when you launch. “We have maintained a lot of creative freedom because we haven’t taken on debt,” Beth says.

– Sarah Lindenfeld Hall

Get the full story of the content entrepreneurs and Pantsuit Politics.

Know a content creator who’s going full tilt? DM us. Or email tilt@thetilt.com.

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• Being laser focused can be a game changer for your content business. (Content Inc. podcast)
• Joe and Robert discuss how much a content creator can make by platforming on social media networks. (This Old Marketing podcast)
• Stuck in a writing rut or want to tune up your skills? Get ready for the “completely revised and expanded” Everybody Writes from Ann Handley, one of the inaugural keynoters at Creator Economy Expo.
• Do you comply with creator-focused tax regs and rules in your content business? (CreatorIQ)
• Need to break bad news? Read this first. (Small Business Trends)

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Be Part of the TILT Nation with Our New Rewards Program

Share The Tilt Newsletter with other content creators and get free $TILT coin, swag, and more.

Your unique link: https://www.thetilt.com?rh_ref=1c5f8ff0

You have 0 referrals.

Or share via Twitter, LinkedIn, Facebook, or email.

*Please note rewards program only available to US readers at this time. The Tilt reserves the right to reject referrals at their discretion.

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Your team for this issue: Joe Pulizzi, Pam Pulizzi, Ann Gynn, Laura Kozak, Marc Maxhimer, and Dave Anthony, with an assist from Sarah Lindenfeld Hall.

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