Content Is Profit Podcast: "Newsletters 101 Part 4: How To Build & Monetize Them with Ethan Brooks"
Hosted by: BIZBROS
Release Date: January 11, 2025
Guest: Ethan Brooks
In the fourth installment of the "Newsletters 101" series, hosts Luis and Fonzie from BIZBROS delve deep into the intricacies of building and monetizing newsletters with guest expert Ethan Brooks. Drawing from Ethan's extensive experience with prominent companies and his role at HubSpot Media, this episode offers a comprehensive guide for entrepreneurs and creators aiming to turn their content into profit.
1. Editorial Strategy and Writing for Newsletters
[02:03] Ethan Brooks:
Ethan emphasizes the importance of maintaining a lean editorial team, stating, "We keep a pretty lean team at Trends, even Trends and the hustle. I think we're probably a total of 10 people." He highlights that starting out doesn't require a large team and that understanding the business model and desired outcomes allows for flexible editorial rules.
Key Insights:
- Quality Over Quantity: Ethan underscores that “the content has to be good in order for it to travel.”
- Flexibility in Frequency: Contrary to popular belief, daily newsletters are not a prerequisite for success. For instance, The Hustle began as a weekly newsletter, proving that consistency can be achieved on a schedule that suits the creator's capacity.
2. Hiring Writers and Building Editorial Teams
[03:42] Ethan Brooks:
Hiring the right writers is pivotal. Ethan shares, “It's probably one of the harder things. In fact, one time I asked Sam, I said, what surprised you about... he said... how hard it is to hire good writers.” He advises investing time in finding writers who align with your vision to avoid wasting resources on mismatched talent.
Notable Quotes:
- Ethan Brooks: "Don't just outsource it. Because if you're just outsourcing and they're not creating what you really envision, the thing could be you're just wasting your time and money." [04:00]
Practical Tips:
- Invest in Quality: Follow Lexi Grant’s advice by focusing on a writer’s ability to respond to feedback and iterate on drafts. “When she hires writers, she doesn't worry so much about the quality of the first draft. What she pays more attention to is how they respond to feedback and edits.” [05:21]
- Trial Projects: Consider paying for a writer’s first test project to evaluate their fit and adaptability before making long-term commitments.
3. Research and Storytelling Techniques
[11:41] Ethan Brooks:
Ethan discusses the significance of curiosity in storytelling, explaining, “You need writers who are intensely curious about the thing that you're trying to write about.” He illustrates this with examples of unique topics like the economics of soda can tabs, demonstrating how deep research can uncover fascinating stories.
Key Strategies:
- Curiosity-Driven Content: Encourage writers to explore unconventional angles and niche topics that resonate with the audience.
- Community Engagement: Utilize platforms like Reddit, Facebook groups, and super-niche VC blogs to discover emerging trends and stories. "If you're ever researching an industry or an idea, a good way to dig into it is to go find a whole bunch of online communities where people who like that thing congregate." [15:27]
4. Growth Strategies for Acquiring New Readers
Ethan breaks down growth strategies into three main levers: Time, Money, and Audience.
A. Time-Based Strategies
[27:58] Ethan Brooks:
Ethan likens time-based strategies to "getting other people to tell your story." This involves leveraging PR, SEO, and social media to amplify content reach organically.
Notable Example:
- Paul Revere’s Ride: Ethan uses the story of Paul Revere to illustrate the power of external storytelling. “Most people don't know that five other people did the exact same thing that night... You've heard Paul Revere’s name because a poet told his story.” [29:23]
B. Money-Based Strategies
Ethan advises caution with paid advertising, emphasizing understanding customer lifetime value (CLV) before investing. “If you have an ad budget that needs to work, don’t start with paid ads.” Instead, focus on strategies that ensure acquisition costs are lower than the CLV to maintain profitability. [30:14]
C. Audience-Based Strategies
Referral programs are highlighted as a powerful tool. Ethan explains, “Referral engines are a game,” where incentivizing current readers to refer new ones can exponentially grow the audience. Tools like Sparkloop and Beehive are recommended for integrating referral capabilities.
Key Tips:
- Incentivize Effectively: Focus on getting a small percentage of the audience to make multiple referrals rather than expecting all readers to refer others.
- Leverage Whales: Encourage the most influential members of your audience to drive significant referral numbers.
5. Monetization Insights
Ethan touches on various monetization avenues for newsletters, such as sponsored content, premium subscriptions, and affiliate marketing. He stresses the importance of delivering value to retain and grow the reader base, ensuring that monetization strategies align with audience interests.
Notable Quote:
- Ethan Brooks: “There will always be a market for it. There’s so much high-level, Clickbait BS out there these days. It’s just not helpful to people who are actually in the industry.” [23:14]
6. Conclusion and Future Directions
As the conversation wraps up, Luis and Fonzie express their enthusiasm for continuing the dialogue with Ethan in future episodes. Ethan hints at an upcoming guide available at Trends Co, promising deeper insights into newsletter growth and monetization strategies.
Final Thoughts:
- Consistent Value Delivery: Maintaining authenticity and delivering substantive content over clickbait ensures long-term profitability and audience trust.
- Continuous Learning: Stay engaged with emerging trends and continually refine strategies based on what resonates with your audience.
Notable Closing Quote:
- Ethan Brooks: “Understand the game that you're playing and use the lever you have the most access to.” [32:56]
Connect with Ethan Brooks:
- Twitter: @DamEthan
Follow the Content Is Profit Podcast:
- Available on all major podcast platforms and social media channels at BIZBROS.
This episode of "Content Is Profit" serves as an invaluable resource for anyone looking to build a sustainable and profitable newsletter. From editorial strategies and hiring practices to growth levers and monetization tactics, Ethan Brooks provides actionable insights backed by real-world examples and expert advice. Whether you're just starting out or looking to scale your existing newsletter, the strategies discussed offer a roadmap to turn your content into a lucrative asset.