I work with a lot of financial publishers. Some are HUGE in that they drive over $400 million or more in sales every year, some of them are tiny little operations, but they still draw in upwards of $10 to $30 million a year.
People get VERY confused when they see the websites of these companies — boring, bland.
Then they see they have ZERO social media presence and think they must be unprofitable.
And they blow a gasket when they see people like me writing 10,000 word sales pages, 2 hour long webinars, 1.5 hour long VSLs, emails that are 2,000 words long and more.
Because “Who reads that stuff?!?!”
Then they’ll accuse me of lying when I say that this same content is solely responsible for driving $125,000 in sales in just ONE day.
It comes down to…
- List building
- Good content
- LONG content
- Great sales copywriting
Capture leads, nurture leads, convert leads, upsell leads.
Can you go into a little bit more detail about what these financial publishers are creating and selling? Are they creating financial advice, guidance, content, analysis etc., and selling that as a product or service?
They basically sell research, analysis, ideas, and model portfolios.
One client for example has started a “420 Millionaire’s Club” with the goal of turning $100,000 into $1 million in 3 years (that’s the goal anyway).
It’s a real money portfolio, which means he has put $100,000 of his actual money into this portfolio and subscribers can follow along, receive information about his methodology, buy and sell alerts, new companies he is looking to add or drop.
It’s doing quite well, even with the marijuana sector taking a gnarly dip at the end of 2018 he’s up a little over 30% since starting about 7 or 8 months ago (so about $30,000).
Another one would be a different guy and it’s centered on dividend investing and income stocks.
That one isn’t a real money portfolio, but it is a tracked portfolio where people can see how all recommendations are going, all currently held gains and all closed P/L going back to the inception of the service over 8 years ago.
And of course then get a monthly newsletter, buy/sell alerts, analysis reports, ideas, and more.
But I mean that’s basically the whole industry in a nutshell.
Various investment niches from day trading, to swing trading, penny stocks, growth stocks, income stocks, Options strategies, sector-specific investing, and all sorts of niches and strategies.
But it basically comes down to subscribing for analysis, ideas, alerts, and model portfolios.
Many investors subscribe to a variety of financial newsletter services that are in competition and like to see the competing analysis on specific stocks for example to help them decide on what they want to do.
I know that’s the case for Uranium right now. A lot of people have the idea that Uranium is about to go on a tear, but of you’re on the fence and you’re not sure how to expose yourself to the market, you might sign up for two or three energy investing services and see how they are handling it and what their recommendations are.
Others are looking for literal trade alerts and that’s it. Like…this guy has a good track record, he’s up 200% overall for the last 3 years, I just want to buy what he’s buying and sell what he’s selling.
What’s the most successful platform? Your own website or a content discovery platform like medium or both (stubs on medium with a link to your own domain)?
The best advice I’ve typically seen is that it’s best to initially publish on your own site and just syndicate it on Medium or elsewhere. I believe Medium lets you add a rel=”canonical” tag linking back to your own site — those aren’t 100% reliable but in general it should allow you to keep the organic search rankings for yourself while still capturing some readership from Medium.
Your 80%-finished book sounds like a valuable asset for sure. If I were you I’d create a separate post to ask about it so you’ll get more answers, but if it’s really good you could try giving away part of it and selling the rest. ProductHunt may be a good promotional avenue.
Keep in mind that it will probably lose value the longer you wait to publish it, as practices and technologies evolve.
There’s currently a shift/change in platform use, a lot of people are going back to making their own (either wordpress, jamstack/static sites are gonna be big,…) for various reasons.
The main one I saw is “control” over a lot of things the platforms can’t deliver. Platforms tend to change things around so it’s not best for a content writer. Even privacy, ownership of content etc., legal things, are issues as well).
Medium for example is “one for all”, ok to start but once you grow you want to add maybe newsletter forms… and even change the layout to fit the content you make better. Any platform can easily limit you once your audience grows.
You can still use Medium though, but it’s used to fuel your own site.