Nathan Barry, Founder of ConvertKit, discusses the risks of their rebrand to 'Kit' and new features like an app store and Creator Network. They talk about email deliverability, lead magnets, and strategies for engaging customers. The episode also covers building a sellable business in the creator science realm.
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Quick takeaways
ConvertKit's rebrand to Kit includes an app store for extra tools and an enhanced Creator Network for collaborations.
Creators transitioning to digital products must focus on recurring revenue models for long-term stability.
Ken Yarmusch's revenue scaling strategies for creators emphasize profitability with minimal time investment.
Deep dives
Standardizing Revenue Through Client Services
Before venturing into digital products and memberships, many creators derive revenue from client services and high-ticket programs. This pathway often leads to quicker profitability if managed effectively. The challenge lies in designing a business model capable of scaling income without proportional increases in time investment.
Ken Yarmusch's Success Story
Ken Yarmusch, an online business entrepreneur since 2005, has scaled revenue to multiple seven figures. Through coaching and a community, he imparts his strategies for achieving six-figure monthly incomes with less than 40 hours of work per week. Ken's track record includes successful collaborations with renowned creators and consultants like Matt Barker, Laura Acosta, and Jake Ward.
Transforming ConvertKit into KIT
Led by Nathan Berry, ConvertKit's rebranding into KIT involves evolving beyond email services to offer a comprehensive toolset for professional creators. The new KIT features include an app store for developing additional tools, enhanced data centralization, and an expanded creator network for collaborative opportunities. The rebrand aims to enhance customer experiences and has already introduced a free plan for up to 10,000 subscribers.
Key Strategies for Engaging Audiences and Boosting Income
Strategies for maintaining audience engagement and revenue growth involve teasing major announcements, optimizing message reinforcement through various channels, and strategically promoting key offerings. The focus on repeat sales, recurring products, and diversification through joint ventures or investments can enhance enterprise value and reduce key man risk.
Building Enterprise Value with Recurring Revenue Models
Transitioning from one-time sales to recurring revenue models is crucial for elevating enterprise value. By emphasizing the sale of products over attention-driven revenue channels, creators can build sustainable businesses resilient to key person dependencies. Diversifying revenue streams, demonstrating audience willingness to pay for diverse offerings, and streamlining operations contribute to long-term business stability and growth.
Nathan Barry is the founder and CEO of ConvertKit, one of the largest email marketing platforms on the planet. It powers the newsletters of people like Tim Ferris, Ryan Holiday, Andrew Huberman, and Gretchen Rubin, just to name a few. But ConvertKit has evolved and does so much more than email—which is why the brand itself is evolving.
If you haven't heard, ConvertKit is rebranding. It will soon be known simply as Kit—a set of tools for professional creators. That includes an app store where anyone can develop and expand on Kit to bring in extra tools, a central hub for your data with enhanced reporting, and the biggest and best Creator Network to help you find collaboration partners.