Ryan Sneddon - How To Build a 6-Figure Local Newsletter Business and Become The Most Popular Person In Your Town, Advice on Starting a Newsletter From Scratch, and How To Grow With a Referral Program
Aug 18, 2023
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Ryan Sneddon, founder of Naptown Scoop, shares his strategies for building a successful local newsletter business. Topics include starting a local newsletter, analyzing data to choose growth channels, collecting email addresses, setting up a newsletter, finding sponsors, and monetization strategies.
Choose a city with its own identity and a friendly market for high-ticket items when starting a local newsletter.
When expanding to new cities, focus on locations with unique features and develop a go-to-market plan based on insights.
Prioritize high-ticket items or big companies as advertisers, establish partnerships, and stay flexible with pricing.
Deep dives
Starting a local newsletter
When starting a local newsletter, it is important to choose a city with its own identity, a desirable place to live, and a friendly market for high-ticket items. Begin by creating a simple website or landing page and focus on collecting email addresses. The initial content should prioritize popular sections like a live music schedule. Run Facebook ads to acquire subscribers, with a target cost per acquisition of less than $3. Monetize the newsletter early by offering advertising opportunities, starting with shorter-term contracts and gradually expanding to longer terms. Affiliate marketing can also be incorporated. Keep the pricing competitive for local businesses and consider collecting upfront payments to help with cash flow. Be prepared for some pushback on pricing as the newsletter grows. Maintain good relationships and partnerships with local media publications, even if they may initially be wary of the competition. Aim to provide access and coverage of events and activities that readers are interested in, building a reputation as a trusted source of information.
Expansion plans and go-to-market strategy
To expand to new cities, choose locations within the 80,000 to 150,000 population range that offer a unique identity and appeal. Focus on cities with attractive features like mountains, waterways, or a vibrant dining scene. Prioritize areas with a microbrewery or similar businesses that indicate investment and local interest. Develop a go-to-market plan based on insights and refined strategies from previous expansions. Start by creating a simple landing page, collecting email addresses, and running Facebook ads. Initially, offer the live music schedule as a core section and gradually add more content to cater to the city's interests. Consider hiring someone to compile the live music schedule and create partnerships for content collection. As the newsletter grows and subscriber counts reach certain milestones, introduce additional sections and advertising opportunities. Emphasize monetization early and charge competitive rates for ads, adjusting pricing as the market responds. Leverage affiliate marketing through platforms like Swapstack. Remember to treat the local newsletter as a high-tech marketing endeavor to stand out in the local market.
Advertisers and revenue generation
When it comes to advertisers, prioritize high-ticket items or big companies that have marketing budgets. Ideal advertisers may include luxury real estate agents, mortgage brokers, financial advisors, and local businesses with high customer values. Seek partnerships with large companies that value brand recognition rather than immediate return on ad spend. Also, consider affiliate marketing deals for additional revenue streams. Focus on offering advertising packages based on the length of commitments, gradually moving from short-term contracts to longer-term arrangements. Stay flexible with pricing, constantly adjusting rates to keep them competitive in the market. Collect upfront payments whenever possible to help with cash flow and provide a sense of assurance for the advertiser.
Competition and relationships with legacy media
Legacy media, such as newspapers, may initially be wary of local newsletter competition. Create strong relationships and partnerships with other publications, even if they may not initially be receptive. Legacy media may exhibit hostility or distancing behaviors. Differentiate the local newsletter by taking a high-tech marketing approach and treating it like an innovative digital media venture. Emphasize leveraging technology, staying informed about the latest marketing trends, and building a strong digital presence. Establish the local newsletter as an authoritative and cutting-edge source to outperform legacy media publications.
Keys to success in expanding a local newsletter
To succeed in growing a local newsletter, embrace the unique advantages of the newsletter format and provide information that traditional media may overlook. Prioritize access to events and insider knowledge as a key selling point. Capitalize on the local audience's desire to know about new businesses, events, and community highlights. Stay focused on the local market's interests and needs by continuously evaluating content offerings and advertising partnerships. Leverage social media, such as Twitter, to foster relationships, share insights, and showcase expertise. Value simplicity, reliability, and high-quality content to be the go-to source for local information and build a strong reputation in the community.