DeepSummary
In this episode, Nick Loper interviews Ryan Steddon, the founder of Naptown Scoop, a local email newsletter business based in Annapolis, Maryland. Ryan shares how he started the newsletter in 2020 and grew it to around 18,000 subscribers, which is nearly half of Annapolis' population. He explains his strategies for acquiring subscribers through Facebook ads and leveraging local Facebook groups.
Ryan discusses the process of curating content for the daily newsletter, which involves sifting through various local sources and determining which stories are most interesting and relevant to the audience. He emphasizes the importance of only including high-quality content to keep subscribers engaged and coming back.
The episode also covers the monetization aspect of the business, with Ryan detailing how he sells advertising spots to local businesses. He shares his pricing strategies, the different ad types he offers, and the importance of offering exclusivity to certain industries. Ryan highlights the success of the business, generating around $200,000 in revenue from the 18,000 subscribers.
Key Episodes Takeaways
- Start monetizing your newsletter from the very beginning, even with a small subscriber base.
- Focus on building a local subscriber base by leveraging Facebook ads and local Facebook groups.
- Curate high-quality, relevant content to keep subscribers engaged and coming back.
- Offer advertising opportunities to local businesses, potentially with exclusivity in certain industries.
- Consider pricing strategies based on ad placement, frequency, and potential customer value for advertisers.
- Utilize tools like Notion for content planning and organization, and specialized software for ad inventory management.
- Leverage social media platforms like Instagram to build public visibility and credibility for your local newsletter.
- Continuously evaluate and adjust pricing based on demand and subscriber growth.
Top Episodes Quotes
- “Even if I did spend all the $25,000 on it, I'd probably be able to make that back with advertising.“ by Ryan Steddon
- “I just was like, I'm going to try this. I think it's a good idea.“ by Ryan Steddon
- “I always know what's going on in Annapolis.“ by Ryan Steddon
- “It's more important what you don't include than what you do.“ by Ryan Steddon
- “I tell people all the time, if they're going to start this thing, you should always have a link or an encouragement to advertise. No matter how many subscribers you have, just get dollars somehow.“ by Ryan Steddon
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Episode Information
The Side Hustle Show
Nick Loper of Side Hustle Nation
6/27/24
Local newsletter business opportunities have always caught my eye as a side hustle enthusiast.
I'm constantly on the lookout for ventures that are low overhead, scalable, and sellable.
Newsletter businesses, with examples like The Hustle and Morning Brew, tick all these boxes, selling for impressive 8-figure exits.
But Ryan Sneddon from Naptown Scoop has taken a unique approach to the newsletter business, focusing on his local hometown, Annapolis, Maryland.
He has become a pillar of the community along the way while making $200k a year from 18k subscribers.
Tune in to Episode 615 of the Side Hustle Show to learn:
- how Ryan grew his subscriber base
- how he monetizes the business
- the logistics of putting out high quality newsletter five days a week
Full Show Notes: Local Newsletters: $200k from 18k subscribers
Your Listener Bonus: 50+ Newsletter Niches
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