How to Build a Successful Newsletter in 2024

Building a successful newsletter is one of the most intelligent business decisions. Whether you're targeting businesses or consumers, newsletters allow you to stay connected with your audience, offer valuable content, and create numerous opportunities for monetization. But the key question remains: How do you build a successful newsletter?

In this post, we’ll break down the secrets to growing a profitable newsletter, drawing insights from experts like Matt McGarry, who’s worked with some of the most successful brands in the space. By the end, you'll have a clear roadmap on how to start, grow, and scale your newsletter without getting overwhelmed.

The Power of Taking Risks in Newsletter Building

First things first: you won’t build a successful newsletter if you’re afraid of taking risks. It’s tempting to play it safe, but in reality, success comes from experimenting and sometimes failing along the way. Even Matt McGarry, known as “The Newsletter Growth Guy,” emphasized that risk-taking played a huge role in his growth. He didn’t stick to just one strategy or niche; instead, he tested new ideas, some of which didn’t work—but that’s the point.

The key here is not to get discouraged by setbacks. Whether you’re experimenting with different newsletter formats, growth channels, or even content styles, trying new things will help you learn faster and adapt. That’s how you get ahead in the world of newsletters.

Why the Right Team Matters

You might be thinking: How can I grow a newsletter without a big team? Well, you don’t need a massive team, but you do need the right people. As Matt often mentions, success in newsletters isn’t just about the content itself. It’s about the team behind it. If you have people who are passionate and driven, you’ll naturally find that things run smoother, and the quality of your content remains high.

This doesn’t mean hiring a huge staff. You can begin with a small group of reliable contributors or even independent contractors who are aligned with your goals. Make sure they’re aligned with your goals and that they care about delivering value to your audience. Over time, this will set your newsletter apart from others.

Selecting a Profitable Niche: Your First Step

One of the biggest decisions you’ll make when building your newsletter is choosing the right niche. How do you know which niche to pick? It’s all about striking the balance between your expertise and market demand. You want to choose a topic that not only excites you but also has enough interest to attract a dedicated audience.

For example, a newsletter about “technology” is too broad. You’ll find it hard to stand out. But if you narrow that down to something specific, like “daily fantasy football strategy,” you’ve hit the sweet spot. That’s what Matt calls content market fit—finding a niche where your content fits naturally with what the audience wants.

Your newsletter will expand more quickly the more specialized your niche is, since it will be easier to provide content that appeals to your readers directly.

Original vs. Curated Content: What’s Best for You?

Another critical question is: Should you focus on original content or curated content? While original content is great, it’s not always easy to produce consistently without burning out. This is why many successful newsletters, like Tim Ferriss' "Five Bullet Friday," rely heavily on curated content—finding valuable third-party content and adding your own insights or commentary around it.

The advantage of this approach is that it takes less time while still delivering value to your audience. Matt suggests striking a balance between the two. Start with some original content to establish your voice, but don’t hesitate to mix in curated pieces, especially when you’re short on time.

Getting Your First 1,000 Subscribers

The journey to your first 1,000 subscribers is often the hardest. So, how do you reach that milestone? It’s not through fancy growth hacks—it’s through good old-fashioned hustle. Matt suggests promoting your newsletter on well-known social media sites like Instagram, LinkedIn, and Twitter. Make sure your bios across these platforms include a link to your newsletter. Engage with communities in your niche, share valuable insights, and subtly promote your content.

You should also let your personal network know. Friends, family, and colleagues can be your first subscribers, and they’ll help hold you accountable for maintaining a consistent publishing schedule. That early engagement is crucial for building momentum.

Scaling Quickly with Cross-Promotions

Once you’ve reached 1,000 subscribers, you’re in a great position to grow even faster. One of the best strategies here is cross-promotion. Essentially, you partner with other newsletters that target a similar audience, and both of you promote each other’s content. It’s a simple, cost-free way to tap into new audiences.

Tools like lettergrowth.com make it easy to find other newsletters in your niche that might be open to this kind of partnership. The more cross-promotions you do, the more rapidly you can grow your subscriber list.

Using Referral Programs for Growth

Want to incentivize your readers to spread the word? Referral schemes are a great way to reward your most devoted subscribers and expand your newsletter. Think about how popular newsletters like Morning Brew or The Hustle grew their lists. They offered readers small rewards for referring friends—whether it was exclusive content, swag, or early access to premium features.

Setting up a referral program isn’t as complicated as it sounds. With tools like SparkLoop, you can easily implement a referral system that tracks signups and automatically rewards your subscribers.

When and How to Use Paid Ads

Once you have a solid subscriber base, you might wonder: Should I use paid ads to grow my newsletter? The answer is yes, but only when you’ve optimized your content and conversion funnel. Paid ads are a great way to scale, but if your message isn’t clear or your landing page isn’t converting, you’ll waste money.

Platforms like Facebook, Instagram, and even TikTok can be fantastic for running ads, especially when using authentic, user-generated content (UGC) that feels more personal and less polished. That’s what worked for Matt’s team when they helped grow newsletters like Milk Road to hundreds of thousands of subscribers in a matter of months.

Monetizing Your Newsletter: It’s Easier Than You Think

By now, you might be wondering, how do newsletters actually make money? There are multiple ways to monetize your newsletter, and the method you choose depends on your niche and audience size. Here are some of the most common:

1. Sponsored ads: Brands pay you to place ads in your newsletter.
2. Affiliate marketing: You promote things like products or services and get paid for every sale.
3. Premium content: Offer exclusive paid content for your most dedicated readers.
4. Product launches: Sell your own products, such as courses, e-books, or merchandise.

If you’ve built a strong relationship with your audience, monetizing becomes a natural next step. The secret is to be true to yourself and only advertise goods and services that your target market needs.

Success Case Study in Real World: Building a Newsletter with Over 50,000 Subscribers in One Year

Imagine growing a newsletter from zero to over 50,000 subscribers in just one year—and turning that into a business that generates over $550,000 per month. This isn’t just a hypothetical situation; it’s the reality for one content creator who has mastered the art of newsletter growth.

Here’s how they did it:

Why a Newsletter is a Must-Have for Creators

For this creator, the journey began with the realization that relying solely on social media platforms was risky. While platforms like Instagram can help you grow quickly, algorithm changes can lead to unpredictable drops in reach and engagement. That's why building a newsletter became essential—allowing them to control their audience and communicate directly whenever needed.

With a newsletter, they weren't dependent on algorithms and could launch new products, share updates, and maintain a consistent connection with their audience.

The Growth Strategy: Audience + Free Product + AI Automation

To grow their newsletter, the creator combined Instagram growth strategies with a valuable free product and AI automation to make the entire process scalable.

1. Audience: Instagram Reels were their go-to for building a large audience.
2. Free Product: They offered a free course on how to make Instagram Reels go viral, which naturally appealed to their audience.
3. AI Automation: Tools like Meta’s Mini Chat were used to automatically send out the free course and collect emails when followers commented specific keywords.

This combination resulted in rapid growth, with some Reels receiving over 120,000 likes and 4,000 comments.

Consistency is Key

At the heart of every successful newsletter is consistency. Your readers should know when to expect your content, whether it’s daily, weekly, or monthly. A consistent publishing schedule builds trust with your audience and increases the chances of them staying subscribed for the long term.

It’s not just about frequency, though—it’s about maintaining quality. Each newsletter should offer something valuable, whether it’s insights, news, or a fresh perspective on a familiar topic. You can keep your readers interested and make them eager for your next issue if you follow this technique.

Conclusion: Your Roadmap to Newsletter Success

So, how do you build a successful newsletter? It starts with choosing the right niche, taking risks, and surrounding yourself with the right people. Whether it's original or carefully chosen, concentrate on producing content that connects with your audience. Build your subscriber base through consistent engagement, cross-promotions, and referral programs. And when the time is right, consider using paid ads to scale even further.

Keep in mind that success takes time, but with the appropriate plans in place, your newsletter may grow to be a successful and interesting component of your company. Follow these tips, stay consistent, and you’ll be on your way to building a successful newsletter that your readers love—and that grows your business.

Looking for even more inspiration to build a successful newsletter? Check out our guide on the 5 Innovative AI Newsletter Ideas for 2024 and explore how AI can take your newsletter to the next level.