Increase Blog Revenue By Bolting On A Newsletter Business with Craig Schoolkate
Have less traffic on your blog? No problem! You can still earn more money through a newsletter. In today's episode, Jaryd Krause is joined by the dynamic Craig Schoolkate. So, get ready for insights on ramping up your blog revenue through the power of the newsletter business. Craig developed his copywriting skills under Quinn Zeda at Zeda Labs. While at Empire Flippers, he found a passion for newsletters and successfully built one with 60,000 readers, boasting impressive engagement statistics. Currently, he authors the Growth Memo and oversees the growth of several newsletters, reaching a combined audience of over 89,000 entrepreneurs and marketers. Jaryd and Craig dive into starting a newsletter. Why should every business have a newsletter (not just for extra money but for far more important reasons)? How do you grow a newsletter? What metrics should you track and how? And what email service provider (ESP) can you use? They also discuss building a brand within the newsletter. How can you make your newsletter and blog magnetic so that people will come to you with advertising dollars and opportunities? Lastly, Craig shares the 3-legged marketing stool. This is so valuable; businesses should know how this works and incorporate it into their strategy. It's a game-changing episode you won't want to miss! Tune in now and generate more money for your online business. Episode Highlights 04:08 Craig’s journey into copywriting and online entrepreneurship 12:02 How do you transform relationships into business success? 23:32 Unlocking your potential and monetizing your email list as a blogger 30:03 The art of value-centric growth and monetization 44:43 What are the best strategies to optimize a newsletter? Key Takeaways ➥ According to Craig, an email list is considered the most important business asset. He goes so far as to state that if a business doesn't have an email list, it may not be considered a true business. The rationale behind this assertion is that an email list provides a consistent and engaged audience to whom products can be sold or who can be directed to the business's website. ➥ Craig promotes a shift from a competitive mindset to a collaborative one. Instead of viewing other businesses as competitors to be surpassed, he encourages businesses to see the potential for collaboration and abundance for everyone involved. This approach involves thinking about what can be given to the audience rather than what can be taken. ➥ To successfully monetize a newsletter, Craig recommends first defining a unique value proposition that sets the content apart. Subsequently, he emphasizes the importance of a testing phase with a small audience, gathering feedback, and refining the content based on responses. Adopting a long-term approach, he suggests building healthy metrics, such as achieving 50% or more open rates and minimizing unsubscribes to less than 1%, before considering monetization strategies. One of the primary methods he highlights is the introduction of sponsorships, but he suggests waiting until the newsletter is well-established and exhibits robust engagement. The quality and engagement of the content play a crucial role in attracting sponsors and retaining subscribers for successful long-term monetization. About The Guest Craig Schoolkate was nurtured into the craft of copywriting by Quinn Zeda, founder of a left-field CRO agency called Zeda Labs. When he moved on to Empire Flippers, he discovered his love for newsletters. He built the Empire Flippers newsletter, which had 60,000 readers, a 53.5% average open rate, and 96%+ of the audience read the entire email every week. Now, he writes the Growth Memo and leads the growth of multiple newsletters with a total audience size of 89,000+ entrepreneurs and marketers. Connect with Craig Schoolkate ➥ Craig's Website - https://www.hitnewsletters.co/ ➥ Everything You Need to Know About Newsletters - https://bit.ly/3OmYIhH ➥ Reach Craig at - Craig@hitnewsletters.com Resource Links ➥ Sell your business to us here - https://www.buyingonlinebusinesses.co/sellyourbusiness ➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com ➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/ ➥ Active Campaign - https://bit.ly/3DCwYQH ➥ Convert Kit - https://bit.ly/3o10Xgx ➥ Substack - https://substack.com/ ➥ Beehiiv - https://www.beehiiv.com/ ➥ Passionfroot - https://www.passionfroot.me/ 🔥Buy & Sell Online Businesses Here (Top Website Brokers We Use) 🔥 ➥ Empire Flippers - https://bit.ly/3RtyMkE ➥ Flippa - https://bit.ly/3WYX0Ve ➥ Motion Invest - https://bit.ly/3YmJAmO➥ Investors Club - https://bit.ly/3ZpgioR This post may contain affiliate links, so we may earn a small commission when you make a purchase through links on our site/posts at no additional cost to you.See omnystudio.com/listener for privacy information.