You’ve probably heard a lot about how great it is to have a huge number of subscribers.
But here’s a secret: sometimes, having too many subscribers can hurt your money-making efforts.
Let’s break it down simply and see how newsletter creators are making money in smarter ways without chasing big numbers.
Bigger Isn’t Always Better
Think of running a newsletter like hosting a party. At first, you have a group of friends, and everyone’s chatting and having a great time.
But if you keep inviting too many people, the conversations become crowded, and the quality drops.
That’s what happens when a newsletter grows too big.
For example, when Morning Brew reached 1 million subscribers, their per-subscriber income actually dropped by 23%.
The good number for most newsletter owners is around 10,000 to 50,000 engaged readers.
With this group, you can build real relationships and still make good money.
Making Money With Smart Strategies
You don’t need to spend a fortune to grow your subscriber base. Here are a few tricks that work for successful newsletter operators:
- Earn While You Grow
When someone subscribes to your newsletter, they might be shown other newsletters to subscribe to as well. If they sign up for those too, you earn a fee! You could spend $3 on an ad to get a new subscriber, but if they join two other newsletters, you could make $4-10 — earning money before even sending your first email. - Cross-Promote to Build More Than Just a Newsletter
Instead of only growing your newsletter, use your email list to build other things. Let’s say you have a tech newsletter. Instead of promoting your newsletter, promote your online course or consulting services. This could make you way more money than just getting more subscribers.
Your Newsletter is Just the Beginning
Successful newsletter creators know that the newsletter itself is just a stepping stone. It’s a way to pull people in and introduce them to other things you offer, like:
- Courses that solve specific problems
- Community spaces where readers can connect
- Consulting services for readers who need more help
- Digital products like e-books or printables
The real money is in these extra offerings, not just the newsletter. Your newsletter helps build trust, but your business grows from other services and products that offer even more value to your audience.
Maximizing Your Email Strategy
It’s not just about sending any email — it’s about sending the right email at the right time. Here’s what works:
- Morning readers tend to be more likely to buy, so send your sales emails early.
- Evening readers engage more with content, so send them your most interesting posts at night.
You should also understand that some people don’t click links but read every word.
These readers might not buy right away but are very loyal and interested in what you offer.
How to Measure Your Success
Traditional metrics like open rates and click rates are important but don’t tell the whole story.
The real value comes from understanding how your subscribers behave.
Some people might read every email but never click a link, while others might buy high-ticket products right away.
By figuring out how different people interact with your content, you can create ways to keep them engaged.
Some might be perfect for ads, while others might be more interested in premium content like courses or exclusive services.
Building Long-Term Value
When The Hustle newsletter was sold to HubSpot, only 40% of its value came from direct revenue.
The rest came from the loyalty and trust of its community. In other words, your audience’s willingness to buy, share, or promote your brand makes it more valuable.
This shows that a small, engaged audience is often more valuable than a big, passive one.
By focusing on building a community, you create something that can grow over time and keep generating money.
Takeaway: Focus on Engagement, Not Just Numbers
In the world of newsletters, quality over quantity is key. Stop chasing after huge numbers of subscribers.
Instead, focus on building an engaged, loyal audience that grows in value.
Once you understand your subscribers and provide them with valuable offerings, you’ll see real profits. Keep this in mind, and you’ll be ahead of most newsletter creators out there.