Navigating the World of Online Publishing: Lessons Learned
As the co-founder and editor of a popular blog, I’ve had the privilege of connecting with thousands of young adults navigating the challenges of post-college life. Our platform, That First Year, aims to create a sense of community through shared stories and experiences. With nearly 100 contributors and a steady monthly readership of 2,000, we’ve made significant progress – but our journey to financial sustainability has been a learning curve.
Don’t Wait for Perfection
For two years, we focused on building our audience without seriously exploring monetization strategies. We thought we needed to reach a certain milestone – 10,000 monthly readers – before attempting to generate revenue. However, this approach meant we missed opportunities to learn what works and what doesn’t, and what our readers like and dislike. In hindsight, we should have started experimenting with monetization tactics earlier, even with a smaller audience.
Building Anticipation is Key
Our first product, an e-book released in 2016, taught us the importance of creating buzz around a launch. We didn’t generate enough excitement leading up to the release, resulting in limited sales. The marketing rule of 7 – that a customer needs to see a message at least seven times before considering a purchase – holds true. We should have invested more time in building anticipation and creating a sense of urgency around the launch.
Understanding Your Audience’s Needs
Last December, we launched the Creative Exchange, an online shop featuring artwork from emerging artists. While the feedback was positive, sales were slow. It wasn’t until then that we realized our target audience – young adults on a tight budget – weren’t willing to spend money on artwork. This experience taught us to better understand our audience’s needs and preferences before launching new products or services.
Legalities Matter
Our recent launch of Windrose Magazine, a print publication, highlighted the importance of researching legalities ahead of time. A last-minute realization that we might need to charge sales tax could have delayed our launch. This experience taught us to prioritize legal research and planning to avoid potential roadblocks.
The Power of Community
While we’re still working towards our financial goals, the connections we’ve made through That First Year have been invaluable. Our community of writers and readers has become a source of inspiration and support, reminding us that the true value of online publishing lies in the relationships we build, not just the revenue we generate.
Leave a Reply