12 Mind-Opening Insights from The Newsletter Conference
New York wrap up
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It’s been three weeks since I got back from New York, where I attended The Newsletter Conference, the first-ever offline gathering of that scale in the newsletter space.
This is a slightly delayed wrap-up of what I was up to during my ten days in New York. In a nutshell:
I attended both the conference and the VIP dinner the night before
I met a few Newsletter Circle subscribers via a mini subscribers meet-up
I had one-on-one meetings with 11 industry experts & fellow creators
Today, I’ll talk about the conference, and the next Wednesday, I’ll share my experience with subscribers meet-up.
Here are 12 mind-opening takeaways from the conference day.
1. You’re competing with Taylor Swift
The attention of readers: This is what you chase after.
In a world with countless distractions, it’s more critical than ever to figure out how to keep your readers’ interest in your newsletter alive.
The format matters in this competition, along with having a distinctive point of view and providing authenticity.
As Brad Wolverton from Newsletter Examples highlights, don’t overcomplicate your content format. Make it easy to digest: use bullet points, and keep it short and simple. Sometimes, the entire newsletter might be a one-sentence song recommendation that you share at the end of each issue.
2. Authenticity is key
It’s said that the newsletter industry is becoming like Airbnb and I loved this metaphor. So many newsletters are entering the game like new houses. The platforms make money the most, but newsletter creators, similar to hosts in the Airbnb case, don’t take advantage enough due to the increased supply and ad network models such as CPC.
So, in such an environment, the key thing is differentiation. As Greg Van Horn, who is the Founder of FinanceBuzz, shared, the formula is:
an authentic content with a personal touch + connection with a well-defined target audience
This will also boost readers' engagement, which is critical for monetization.
As Jacob Donnelly shared, focus on how to serve great, authentic content instead of feeling stressed about growth tactics.
The most difficult part is scaling authenticity, which requires building a media business.
3. Know your audience
As Dan Oshinsky mentioned in the opening session, “No one knows your audience better than you.” But you need to put continuous effort into getting to know them.
Ask demographic questions during onboarding.
Collect LinkedIn data.
Talk to your readers via Zoom calls. (Here is how I’ve been already doing it.)
Conduct focus groups. Rachel Schindler shared that Punchbowl News does regular surveys every 6 months. This frequency might change depending on your audience and what you need to explore.
Get validation before launching new features, memberships, etc. For example, ask your readers before starting a paid subscription.
This is also important to perform better in the monetization game. Boye Akolade from The Future Party emphasized that publishers who understand their audience tend to perform better with ads.
4. Build a “brand” voice if you plan to sell your newsletter
Creating a unique voice will significantly boost authenticity. However, be cautious, as your unique voice can be both a blessing and a curse, depending on your long-term strategy.
Jacob Donnelly from A Media Operator said that his unique voice greatly contributes to his success, as his content is highly dependent on him.
However, this might be a problem if you plan to sell your newsletter.
So, if you plan a newsletter exit, you need to build a brand voice independent of your creator's voice.
Otherwise, during the exit, either the value of your newsletter decreases, or they want you to work for them for a while.
The possible solution might be disconnecting yourself from the content and hire a reporter for content creation.
5. Test your creatives aggressively
Erika Burghardt from 1440 highlighted that one of the biggest mistakes in paid channels is that creators don’t test their creatives enough.
In line with the test mindset, she said creators shouldn’t be afraid to turn a creative off if it doesn’t work. If there is a sign of poor performance, it doesn’t matter how much you invested in creating an asset; just stop using it.
In my previous interview with Tim Huelskamp, the co-founder and CEO of 1440, he also defined Erika’s approach as a game-changer for 1440.
They partner with numerous creative agencies and focus on testing quality creative at scale.
“Last quarter, we tested ~1500 (not a typo) creative ads on the various channels.
As the platform algorithms become more sophisticated at targeting, creative is the biggest lever brands can invest in, and we invest in quality creative heavily.“
Tim Huelskamp
6. Do things that don’t scale
We tend to follow others' actions, but sometimes, the best strategy is to take a path that no one else prefers.
Aine Stapleton from Intrigue Media shared that she gave away homemade cookies to university students to convince them to become subscribers. It’s incredible that she still gets some e-mails from those students.
And as she perfectly stated, “Even if it’s not scalable, it eventually scales.”
7. Money is the best validation
Jacob Donnelly from A Media Operator brought a fresh perspective on positioning paid subscriptions.
Starting a paid subscription might be a solid test to see whether people find it worth paying for your content. Money is the best validation, he says.
8. Don’t diversify your revenue model too early
Diversifying your revenue model is THE MODEL”. However, it’s a risk for smaller creators with limited resources because diversification brings operational complexity.
So don’t rush into it; wait for the right time.
Diversification should come into play after your newsletter is big enough and you have the resources to invest in the operations of new channels.
9. Use LinkedIn newsletter as a hook
Launching a LinkedIn newsletter is a smart strategy for creators or media brands who already have a significant audience on LinkedIn, as all connections and followers, including new ones, are notified automatically.
Lucy Keller from Bloomberg Media mentioned that they successfully use LinkedIn newsletters to increase brand awareness and acquire new subscribers. Their LinkedIn newsletters share only a portion of the content tailored for LinkedIn and encourage readers to sign up for the main newsletter to access the full content.
10. Events are underrated
Ari Lewis from Payload & Ignition shared that they organized 14 events, and event discussions also turned into newsletters. This opportunity for events to bring together the audience is a unique leverage that traditional media doesn’t offer, he says.
This is also a great way to diversify your revenue and create a lucrative channel.
11. Leverage sponsoring other newsletters
1440 observed 2-2.5x more engagement among subscribers who come from other newsletters compared to those acquired via Meta ads.
While it’s an important channel for reaching a specific target audience, newsletter ads should be just part of the paid growth mix since they are more difficult to scale than other paid ads.
12. Local newsletters have a unique ad dynamics
Monetization for local newsletters differs from regular newsletters and has its own dynamics.
As Ryan Heafy from 6AM City pointed out, it’s difficult to educate ad buyers about ad prices since their long-term traditional media partners previously provided newsletter ads for free. On the other hand, grants provided by local governments are a viable monetization source for local newsletters.
I wish I could summarize the entire conference, but this is the best I could do with my old-school note-taking. Meanwhile, someone who was sitting next to me was using an AI tool on her laptop that transcribed all the panels in real-time! So, stay tuned for my article next year. :)
As per my further personal opinions, what I liked the most about the conference were:
The panel format that triggered high-quality discussions as if speakers were having a conversation among themselves
Transparency of speakers about what they could improve and their emphasis on misperceptions about running a newsletter business
Networking opportunities with a top-notched group of people from the newsletter business
The day passed so quickly, and I felt that there was still a lot to discuss. My biggest expectation for next year is an extended version of this event, with a two—or three-day event where more topics are covered at a deeper level. We just couldn’t get it enough!
Overall, it was such a great experience to be physically in the same room with fellow creators and industry experts. I had a chance to meet amazing people both during the conference and the following days, booked some interviews, build connections for further collaborations and got some great advices to improve my work. I’m quite happy with my decision to attend.
My current biggest priorities are the report where I analyzed over 70K Substack newsletters and continue calls with you, Newsletter Circle subscribers.
If you’d like to have a quick discussion about your newsletter journey and share opinions about how I can better support you, book a 15-minute call with me here.
I look forward to connecting with you all!
🔎 Further Readings about The Newsletter Conference
6 things I learned at The Newsletter Conference by Brad Wolverton
25 Rules for Running A Great Newsletter by Inbox Collective
60+ Insights from The Newsletter Conference by Newsletter Business
Key Themes of The Newsletter Conference by Dan Barry
👉 Do you want to reach 2,300 newsletter creators & enthusiasts?
That’s all for today. Thanks for reading.
See you next week.
Ciler
📌 P.S. I’ve switched from Substack over to Beehiiv (here). But don’t worry; you don’t need to do anything; I will manually add you to my Beehiiv list if you subscribe here. This is just for you to know :)
And don’t worry; you will receive the new issues only from “cilerdemiralp.beehiiv.com”, no duplications.