I tried a new sales tactic last week by running an auction Twitter thread for an advert spot in my newsletter for No CS Degree. I had seen Phil McPartland from 4dayweek, who is part of my High Signal community, do a thread asking for sponsors. He would start the bidding at $1. So I figured I would do the same.
I made some changes though - I started bids at $10 as I felt a dollar was too low and I'd waste a lot of time. The ads usually go for $200 so I didn't want to devalue it too much.
The first bids roll in
Thanks to James from LeaveMeAlone for making the first bid of $10! Sure enough there were lots of bets coming but they each added only a dollar each time and I worried for a second that I'd only sell for $20 or something!
More serious bids
Then the bids jumped:
Ken Savage had made a reserve bid of $200 so he was declared the winner! As $150 was the next highest bid I declared Ken the winner with $151 (although it was easier to just charge him $150)
I actually sold an advert for $150 to the 2nd place person, Ryan Badger, and a discounted advert in a smaller newsletter to Peter Wallhead for $75.
Final result = I made $375 in one day with newsletter ads
If you're interested in learning more about making money from an email list, including learning sales, check out my course Monetize Your Newsletter
You can buy ads in my newsletter here