Learn valuable insights from the success of the best newsletter businesses, such as Agora, a financial newsletter company that generates over a billion dollars in revenue per year. Discover monetization strategies, targeting a large market, and the importance of repeat buyers. Apply these learnings to drive revenue and build a loyal customer base.
The video discusses Agora, a financial newsletter company that generates over a billion dollars in revenue per year by selling newsletters. The speaker highlights the success of Agora in monetizing their products through subscription fees, proprietary research, and events. They also mention the importance of starting with low-cost offerings to attract customers, and then upselling higher-priced products. The speaker emphasizes the need to target a large total addressable market and the value of repeat buyers. They use Amazon as an example of a company that uses this strategy. The video concludes by encouraging viewers to subscribe and engage with the content.
- So Agora is a financial newsletter.
A billion plus dollars a year in revenue
for selling newsletters.
That's a lot of revenue
to generate from selling newsletters.
- All right, we're going to talk about what you can learn
from the best newsletter businesses.
Newsletter is just the email newsletter
that you get that's keeping you updated
on subjects that you're interested in.
- By the way,
what do you think is the best newsletter business
if you had to pick one?
- Yeah, I would say Agora too.
So Agora is a financial newsletter,
think about like stock trading, hedge funds, economy,
and they have a lot of different divisions
like Stansberry Research, Agora Financial, Money Map Press,
they're all owned by, I think the guy's name is Bill Bonner,
and Agora, I don't know what they're doing this year,
but I remember, because we've done quite a bit
of their marketing over the years,
it's a billion plus dollar revenue company,
and it may be a little bit down or a little bit more,
but that's a lot of revenue to generate
from selling newsletters on a, you know, annual basis,
like just think about that,
a billion plus dollars a year in revenue
for selling newsletter.
- I think it's impressive.
I mean, there's a lot of different ways to play it,
but I think Agora probably played it the best.
Their monetization vehicles are for their own products,
and so, it could be like a mastermind
or it could be a subscription that costs,
you know, $5,000 a year, $10,000 a year,
there's like proprietary research that they do,
and they have a lot of events and things like that, right?
And people that are really interested
in money or making money,
they're naturally okay with spending on stuff like this.
- It is a massive business.
The big thing that I've learned
from the newsletter business,
and this was just me as a marketer,
wasn't actually related to newsletters,
it was related to the concept of
if you can get someone in to your funnel,
your marketing funnel, for something really cheap,
free, like an email address or something for a dollar or $5,
it's really easy to start selling them things
that are a $100, $1,000, 10,000 takes a lot of work,
but you can go upstream really quickly.
And what I learned from Agora working from them
is A, you need to go after a big TAM,
TAM stands for total addressable market,
because as a marketer, the bigger market you go after,
the easy it is to do marketing,
because you can just, you know, spray and pray in essence,
target a lot of people,
so you don't have frequency issues with your ads.
The second thing I learned from them
is you just need to get people in the funnel
and get them to buy something, even a dollars worth,
because buyers are buyers,
and it's really easy to get people to buy more
once they buy once, no matter how low that product was,
but it's hard to get a new buyer to buy something,
whether it's expensive or cheap,
so just try to find something that you can sell profitably
or breakeven on or lose a little bit of money selling,
knowing that you can generate way more revenue
in the long run from people.
Great example of Amazon, right?
Amazon will sell people,
sometimes they'll lose money with things like Prime,
but they know they'll make the money in the long run,
because people keep coming back and buying more and more
and it makes them really profitable.
- What Neil's talking about is also known as a tripwire,
so people in the internet marketing world
will create a tripwire where you might sell something
for a dollar or $10 or whatever,
and the whole idea here is you collect a credit card
and then you can figure out how you can upsell, downsell,
and things like that.
So that is it for today.
Please don't forget to subscribe, hit us on YouTube as well,
and we'll see you later.
- [Neil] Now, if you have any questions,
leave a comment below.
I'm here to answer them and help you out.
If you enjoy the video, like it, share it,
tell people about it, thank you very much.
Newsletters are a valuable tool for keeping people updated on topics of interest. One of the most successful newsletter businesses is Agora, a financial newsletter that generates over a billion dollars in revenue annually. The success of Agora can teach us several important lessons.
Agora's success lies in their ability to monetize their products effectively. They offer a range of subscription options, including mastermind groups and proprietary research. Additionally, they host events and target individuals who are interested in making money. By offering valuable content and services, Agora can justify higher price points for their products.
A valuable lesson from Agora is the importance of starting with low-cost offers. By getting people into their marketing funnel through free or low-cost products, Agora has the opportunity to upsell and cross-sell higher-priced items. Building trust with buyers through these initial purchases makes it easier to sell more expensive products or services in the future.
Agora's success is also attributed to their focus on a large total addressable market (TAM). When marketing to a broader audience, it becomes easier to reach potential customers and increase brand visibility. By targeting a larger market, marketers can overcome frequency issues and effectively spread their message to a wider audience.
A tripwire is a low-priced product offered to collect customer information, particularly credit card details. This strategy allows businesses to upsell and downsell, maximizing the value of each customer. Agora's success demonstrates the value of implementing tripwire strategies to capture potential buyers and nurture them into long-term customers.
By understanding the strategies employed by successful newsletter businesses like Agora, companies can improve their customer support efforts. Offering valuable content, personalized messaging, and special events can enhance the customer experience and foster loyalty. Additionally, implementing tripwires and focusing on customer retention rather than only acquiring new customers can lead to long-term success.
In conclusion, the success of Agora and other top newsletter businesses provides valuable insights for marketers. By monetizing effectively, starting with low-cost offers, targeting a large market, and utilizing tripwires, companies can drive revenue and build a loyal customer base. Incorporating these strategies and focusing on excellent customer support can lead to long-term success in the newsletter business.
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