Idea is to do it and make it more profitable.
Newspapers being replaced--not by Web, but by email newsletter. Average person gets 16 email newsletter. Investing, profession, etc. We pick topic and get news sent to us--daily is cycle you should fit into. Short, succinct newsletter, get through in 2-3 minutes every day, as opposed to 15 minutes every month.
Average read is 2 minutes.
Contact every day of the week, but alternate newsletters and promotions. That enables you to get money and doubled average weeks of the customer--time they would stick with you. Opt out rate went down by 2/3. Open with voice and build relationship.
Come up with publishing schedule. Do search engine research to see where demand is--pick ones that you can publish on related to your niche. Do a newsletter on one day, then promo follows the next day.
Advertising and sponsorship can run on the side--exclusive sponsors. Email works well to sell product, books, lead generation for free reports tied to your sponsors. Make more money if leverage direct response--maximize position with advertisers.
Can do single issue newsletter topics, or week in review newsletters. Opt in rate of 30-40 percent for daily newsletter subscribers when you can segment topics.
Revenue from newsletter comes from product sales. Have to test to determine what is most effective. For example, tested incentives--buy book vs. buy book and get free gift. Price is also a good test.
What are things that are likely to increase email response rates. Same elements as direct marketing--formats, prices, incentives.
Whatever works in direct mail works in email and vice versa, in terms of offers. Only place not sure if email copy test. Cost of sending elaborate letter by mail is high, but not for email, so can't really test success of one over other.
Can test in email first and then run in direct mail the ones that are successful. Speed of learning is faster and leverageable across to direct mail.
Email newsletters of his example are all recycled content! Not researching--excerpting and summarizing.
Most publishers underprice digital products. We find most products can get higher prices.
You sending out is start--all kinds of factors have to keep track to determine success.
He uses What Counts as email service provider. Tier one provider--$600-$3,000/month minimum. Constant contact is only $20-$30/month. Charge based on how many emails you have. Deliver relatively poor. When have 5k-10k, move to tier one.
You need to have a plan to begin with--stragtegy. Write it down and discuss it. Determine product vs. sponsor revenue. Test Plan A against Plan B, test winner against Plan C. Determine your winners.
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