Here’s this week at a glance!
Actionable Strategy: Unleash the Power of an Email Newsletter
Framework: STP Marketing Model
Tool: Beehiiv
GrowthHive Update: 1,155 Subscribers
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💡Actionable Strategy: Unleash the Power of an Email Newsletter
If you’re like most business owners, you’re probably spending thousands of dollars on paid advertising, spending hours creating daily content on social media, or constantly tweaking your outreach strategy—only to see minimal results.
It’s frustrating, exhausting, and often feels like shouting into the void.
But there’s hope!
Picture thousands of loyal fans eagerly awaiting your thoughts and ideas each week, sipping their morning coffee as they devour your content.
There are no algorithms standing in the way, no fighting for attention in a crowded feed—just a direct line to an audience that values what you have to say.
It’s not magic.
That’s the power of an Email Newsletter.
A newsletter is your ticket to building a dedicated following, skyrocketing your sales, and turning your business into a million-dollar success story.
After selling my digital agency for multiple seven figures, I’m going all in on creating a million dollar email newsletter (GrowthHive).
And you should too.
Here’s why.
Take Full Control of Your Audience
In the ever-changing world of social media, your content’s reach can be unpredictable.
Algorithms shift, engagement fluctuates, and you’re at the mercy of platform rules.
But with an email newsletter, you have total control.
Your subscriber list is yours to nurture, and no one can take it away.
This stability allows you to consistently connect with your audience, ensuring your message is heard loud and clear.
Imagine having 5, 10 or 50,000 loyal fans foaming at the mouth in wait of your juicy content each week?!
I’d pay top dollar for that (but I’ll show you how you can do it for free).
Boost Leads & Supercharge Sales
Email newsletters are a proven way to generate leads and increase sales.
You can nurture prospects through your sales funnel by providing valuable content directly to your audience.
Personalized recommendations, exclusive offers, and timely follow-ups can turn casual readers into loyal customers.
An email newsletter’s consistent engagement keeps your brand in mind, driving more conversions and boosting your bottom line.
Mind-Blowing ROI
When it comes to return on investment (ROI), email marketing is hard to beat.
Email marketing delivers an average ROI of $36-$40 for every dollar spent.
This incredible efficiency makes email newsletters one of the most cost-effective marketing strategies available.
What other channel can you put in $1,000 dollars AND GET $40,000 OUT?!
Your 8 Newsletters Away from a Sale
Email newsletters help you establish yourself as an expert in your field.
You build trust and credibility with your audience by consistently delivering valuable, insightful content.
Over time, this positions you as a go-to source for information and solutions in your industry.
In marketing, you typically need 8 touchpoints to get a sale. Stop worrying about someone (maybe) seeing your display ads or social content.
Instead, send a touchpoint directly to their inbox.
Unlock New Revenue Streams
Few people know this, but email newsletters can be a lucrative revenue channel.
Here are some of the numbers behind the madness.
Example:
Let’s say you have a newsletter with:
50,000 active subscribers
55% open rate
7.5% click-through rate
4% landing page conversion rate
Let’s also assume you have:
A free newsletter
A paid newsletter
A $299 online course
Here’s how you could make $79,920 A MONTH or nearly have a MILLION DOLLAR A YEAR newsletter.
Here’s the breakdown (and I’m not even getting creative).
Paid newsletter: $20,000/Month
5% of free subscribers become paid subscribers.
Monthly course sales: $23,920
80 monthly course purchases.
Monthly sponsorships: $26,000
The going rate for sponsorship placements at 50k subscribers is $2,000-$4,000 per placement (two emails a week).
Monthly coaching: $10,000
10 coaching sessions @ $1,000/hour.
This Weeks Action Item: Setup your Newsletter
This week, I want you to sign up for Beehiiv, familiarize yourself with the platform.
From there, I want you to create an email template that you’ll be sending out weekly (checkout this tutorial).
🧠 Framework: STP Model
Segmentation, targeting, and positioning (STP) are crucial elements of any successful marketing strategy, and they are especially impactful when applied to email newsletters.
Segmentation involves dividing your email list into smaller, more targeted groups based on specific criteria such as demographics, interests, or buying behavior. More on this in future issues of GrowthHive.
Targeting is the process of selecting the most relevant segments of your email list to focus your marketing efforts on.
Positioning refers to how you differentiate your email newsletters from those of your competitors in the minds of your audience.
🛠️ Tool: Beehiiv
As someone who has used ConvertKit and Mailchimp, I can confidently say that Beehiiv surpasses them in terms of functionality, usability, and overall performance.
In my experience, Beehiiv offers a seamless, intuitive user experience that empowers creators to connect with their audience and monetize their content effortlessly.
Some of my favorite features of Beehiiv are:
Polls & surveys
Monetization built into the platform
Beautiful templates
Easy segmentation & automation
AND It’s free for up to 2,500 subscribers.
Through GrowthHive you can get a 30 day free trial and 20% off for 3 months!
🍯 GrowthHive Update: 1,155 Organic Subscribers
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Number of Subscribers: 1,155
Weekly Growth Rate: 6% Increase
Open/Click Through Rate: 53% & 5.5%
Revenue Since Launch: $0
Notes:
This week I’ve been working on several lead magnets including outlining the GrowthHive roadmap and a new mini-course.
My growth plan is to develop 5-10 free & paid courses and use that revenue to expand GrowthHive through paid advertising.
Over the next three months, my primary growth strategies are going to be:
Organic (through LinkedIn)
Paid advertising & retargeting (Facebook/Instagram ads)
Being a podcast guest (I have 6 lined up for May)
1-2 Webinars/month
👉 Up Next: How to Grow a Million-Dollar Newsletter
Stay tuned for next week’s edition, where we’ll dive into the strategies and tactics for gaining subscribers and growing a million-dollar newsletter.
Learn my top strategies to grow your subscriber list, craft compelling content, and optimize your email marketing efforts for maximum profitability.
Don’t miss out on these insider tips and expert advice!