In this conversation, Alex Pattis, co-founder of the Deal Sheet and Last Money In Media, reveals how he amassed over 41,000 newsletter subscribers and generated impressive ad revenue in just 14 months. He shares the advantages of niche content in venture capital, emphasizing long-term sponsorships that foster solid revenue streams. Alex also discusses the transition from a podcast concept to a newsletter, effective audience growth strategies, and the importance of unique, educational content, particularly on platforms like LinkedIn.
Launching a newsletter allows for rapid audience engagement and better creator ownership, proving more effective than podcasts for content ventures.
Utilizing efficient sponsorship management tools like Sponsey can significantly enhance ad operations, saving creators valuable time and improving client interactions.
Deep dives
Starting with a Newsletter
Beginning a content venture with a newsletter is more effective than launching with a podcast. Newsletters allow for quicker audience engagement through concise formats that can capture readers in just five to fifteen minutes. This model not only helps in building an audience but also grants creators better ownership of their followers and their interaction data. The advantages of newsletters include lower time commitments for readers and the ability to create a direct line of communication with them.
Leveraging Sponsey for Ad Management
Efficient sponsorship management is critical for creators managing ads, and tools like Sponsey streamline this process significantly. Sponsey allows publishers to effortlessly track ad inventory and facilitate client interactions, leading to time savings of up to 40 hours per week in ad operations. It connects with leading email service providers to automate reporting, enhancing client experience and operational efficiency. This platform provides essential features such as a self-serve ad storefront and a deal pipeline that simplifies managing entire sponsorship campaigns.
Growth Through Targeted Niches
Identifying a specific niche within the market is vital to creating content that resonates with a defined audience. The newsletter 'Last Money In' targets individuals interested in investing through special purpose vehicles, effectively addressing a gap in venture capital content. Engaging content is produced by focusing on transparency and educating accredited investors about the complexities of syndicate investments. This targeted approach not only attracts interest but builds a community around a unique subject matter.
Revenue Streams and Future Plans
The revenue model for a niche newsletter can include long-term sponsorships, showcasing the potential for more financial stability compared to traditional ad sales. By cultivating strong relationships with sponsors that align closely with their content, newsletters can avoid the challenges of constantly negotiating ad space with multiple advertisers. With the successful launch of the 'DealSheet' subscription service generating significant income, the potential for recurring revenue growth is significant. Future strategies may involve refining marketing efforts to expand audience reach and optimize the income generated from existing content.
Alex Pattis is the co-founder of the Deal Sheet and Last Money In Media. In this episode we break down how in just 14 months, Alex Pattis grew his newsletter Last Money In to over 41,000 subscribers and $200k/year in ad revenue and his paid newsletter Deal Sheet to $500K ARR in seven months.
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