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Investor Updates
Last week, I talked about The Great Churning, a detachment of SparkLoop growth levers until double opt-in can be implemented either on their end or Beehiiv’s. Take a look at the previous newsletter if you’d like to know more details about why I've decided to take these steps. Today, we’ll dive into the latest investor updates for The Daily Tater, as it’s been roughly a month since the last one.
Subscriber Count:
1,901 on 2/15 → 1,703 on 3/14 (attributed to The Great Churning)
Roughly 150 subscribers are left pending from Sparkloop, and most of those will churn, but I am still running Facebook Ads to offset this churn as much as possible.
Engagement:
Primary Focus:
As you can see from the Engagement Funnel above, key metrics have been up and to the right since the last time we shared these. This will remain a focus.
Organic growth needs to be a primary focus this upcoming month. I have spent roughly $2,000 in the last month on Facebook Ads, which is not sustainable while I’m still out of work. I’m targeting referral contests and social media outlets to accomplish this goal.
Monetizing. I have seemed to figure out SparkLoop and Beehiiv boosts, as I’m earning roughly 50% of my acquisition spend back through these two mediums. I’ve had 4 people subscribe for premium membership, bringing my ARR to a whopping $180. As key metrics like click rate have grown, I have gotten a little more traction with advertisers, so I think I’m getting close. I’ve been able to close one deal so far, bringing in $43 in sponsorship funds. Needless to say, the monetizing I’m doing is not enough to break even, and getting to that point needs to be priority number 1. We’re getting close; I can feel it.
TLDR:
Focusing on key metrics like organic growth and click rate will attract more advertisers and premium members so I can get this ship to break even.
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Tyler Denk published how he was able to get his newsletter from 0 → 8,000 subs in 3 months. It’s been a great inside look at Beehiiv.
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