Axios

The old future of new newsletters

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I’m a regular reader of Simon Owen’s Tech and Media Newsletter — it’s an insightful rag. For example:

A few weeks ago, Owens wrote a piece about the future of new media startups, and what those will look like.

He made five predictions. One of those was “niche editorial products.”

Here’s a relevant bit from Owens’s article, where he is writing about Axios, a conglomerate of email newsletters (free and paid) that sold for a thumping $525 million back in August:

What most impressed me about the company was how it simultaneously managed to be a general interest news site while also funneling its audience into niche verticals, making it much easier for it to deliver highly targeted advertising and industry-specific subscription products.

In other words, Axios offers general and free newsletters on the front-end… and specific and expensive newsletters on the back end.

When you put it like that, this ain’t nothing new:

1. Write something like Dale Carnegie’s How to Win Friends and Influence People. Give it away for free or sell it for $0.46 on Kindle.

2. And then, to the people who bought the book, sell something like the Dale Carnegie Institute’s High Impact Presentations corporate training, which consists of two in-person sessions, and costs $2,195.

So Owens’s prediction might not be new, but it’s still a good reminder for each new generation and each new technology.

And it’s something I’m thinking about, especially in the context of email newsletters. If you have a highly niched offer, it might be something for you to think about also.

Meanwhile, let me remind you that this basic idea is not just about offers. The same idea actually applies to copywriting, marketing, and effective communication of all types.

In fact, everything I’ve just told you is related to “chunking up”, which is the first big and new copywriting insight I had by looking at the bullets of A-list copywriters.

The way I describe it inside my Copy Riddles program, “chunking up” allows you to expand your market 3x, 5x, or more.

Which goes to show:

Once you learn the essence of effective communication — once you learn to make interesting and attractive appeals — you can then apply that from a single sales bullet all the way up to the core structure of a $525-million business like Axios.

Perhaps you’re curious to learn more. Perhaps you want specific examples from print ads, video sales letters, and paperback books.

Perhaps you even want to practice chunking up yourself, so next time you try to get your message or offer across, it comes naturally.

You can do all that, and more, if you buy Copy Riddles, which I am currently selling. For more info on that:

https://bejakovic.com/cr/

Join me today on Clubhouse!… err… never mind just read this email

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Do you remember, in the olden days way back at the start of this decade, there was a thing called Clubhouse?

I certainly remember, when the lockdowns came hard and heavy, that many big-name marketers were enthusing about Clubhouse. “The future of marketing!” they said.

I never got it, but from what I could understand, Clubhouse:

1. Required an invite to get in, and therefore had a velvet rope effect

2. Was some kind of app that allows group video chat in different-themed rooms, kind of like a big conference center

Clubhouse was very cool until it was not. It didn’t take long. From a peak of 13.5M monthly users in July 2021, Clubhouse quickly started turning into a ghost town.

Last December, I read an article in Business Insider about the “Rise and Fall of Clubhouse.” It said that Clubhouse is mostly dead but will linger on as a zombie for years, thanks to its $100M of VC money. That was the last I heard of Clubhouse until a couple days ago, when I read that the company is trying to pivot in an effort to regain some of its lost coolness.

I personally couldn’t care one Euro cent if Clubhouse succeeds or fails in recooling itself. I’m just writing you about it because of a trending Internet conversation over the past couple weeks. It all started with article with the headline:

“Sunset of the social network”

The argument in the article ran, Facebook is changing its algorithm to be more like Tik Tok. So say goodbye to updates from your friends, family, and business contacts. Instead, say hello to addicting content from around the world, whether you have any “social” connection to those people or not.

According to the article, so-called “social networks” like Facebook have basically become giant, impersonal media platforms. On the other hand, messaging takes care of properly intimate and personal communication. The article concludes by saying:

“All this leaves a vacuum in the middle — the space of forums, ad-hoc group formation and small communities that first drove excitement around internet adoption in the pre-Facebook era.”

So the point I’d like to suggest is, maybe you shouldn’t be looking at the next cool tech solution for your marketing. Not the next velvet-rope app… the next “AI” algorithm update… the next “new” and sexy way of delivering content.

The fact is, the technology that’s been around for the past 30 or more years — websites, forums, email — continues to work, and work well. And if you want proof of that, then I can tell you that that trending “Sunset of the social network” article appeared on Axios, an email newsletter I wrote about a few days ago, which recently sold for more than a half billion dollars.

So if it’s not technology that will make or break marketing, then what?

My bet is on interesting and engaging content, along with a feeling of community, peppered with some subtle human psychology to actually drive sales.

It can be on a website. Or a forum. Or even in email.

And on that note:

If you do have an email list, and if you want to make it more interesting, and more engaging, and even more community-like, so you can drive more sales, then I might be able to help.

​​In case you are curious:

https://bejakovic.com/audit

An email business worth $0.52 billion (yes, billion)

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Never give away your best stuff for free, right?

Instead, use your free emails to sell high-priced products and subscriptions, right?

That’s certainly one way to run an email-based business. And it’s proven to work well for many people.

But is it the only way?

Let’s reach into the archives of this very newsletter, to a breaking story I wrote about two years ago.

Back then, I reported that the Morning Brew, a daily email newsletter without any backend offers, had sold a controlling stake for $75 million.

That’s not too shabby for a project that was started in a college dorm, by just one dude, some five years earlier.

Today I’ve got some similar, but even more greedy news for you.

It’s about Axios.

Axios is basically a collection of email newsletters on topics like politics, the economy, and technology. For example, I’ve been subscribed to their “Axios World” newsletter for a couple years.

Axios was launched in 2017 by three ex-Politico journalists.

And get this:

Axios, an email-based business that was started five years ago, just got sold for $525 million.

$525 million.

From my back-of-the-envelope math, that’s $25 million more than a half billion dollars. For a bunch of email newsletters. At a moment when everybody seems to be panicking about a recession.

So yes. Never give away your best stuff for free in your emails… not unless… you want a pool filled with gold coins in which you can go swimming like Scrooge McDuck.

Now of course, you can make the claim that Axios is much more than just a bunch of email newsletters.

You can make the claim that it’s a business like any other, with VC funding, a team of employees, and extensive advertiser relationships.

That’s absolutely true.

And it brings me to my offer for today.

It’s also something from the archives of this very newsletter, also from two years ago. Back then, I called this offer my “cash buyers list.”

It works like this:

I have certain skills at a high level, mainly around copywriting and content creation. I also have a simmering, lingering desire to start an email-based equivalent of a magazine, newspaper, or morning talk show that could grow grow into something cool and valuable in a few years’ time.

But I can’t do all that myself. Nor do I want to.

So if you have 1) money to invest or 2) complementary skills to mine, then I’d like to talk to you.

I’m not promising anything and I don’t have any project kicking off right now. But if the idea of something Axios-like or Morning Brew-like gets you excited… and you have something to contribute besides enthusiasm and an “eagerness to learn”… then write me an email and let me know what you can contribute.

If it turns out to be a fit in some way, and I manage to put the other pieces in place… then who knows where you and I and our email-based business might be in five years’ time.

Sub-format trumps copy

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The point of today’s email may be very obvious to you. But it wasn’t obvious to me, not for a good many years. And yet it’s very valuable — the numbers don’t lie. See if you agree:

​​I recently wrote about Joe Sugarman’s BluBlockers infomercial. It had a candid camera feel – Joe going up to people on the street, giving them a pair of BluBlockers to try, and recording them as they look around in wonder and say, “Wow, it’s so much sharper! Brighter, too!”

What I didn’t write about recently, but found interesting nonetheless, was a presentation given by top copywriter Evaldo Albuquerque. Evaldo was talking about tips and tricks to make an interview-style VSL a big success.

And then, there was an email I wrote a couple years ago about video ads my clients at the time were running on Facebook. The ads were very successful, and more successful than any other we had tried. They were modeled after BBC science videos — using stock footage, with overlaid subtitles that told an intriguing and dramatic story.

A-list copywriter Parris Lampropoulos likes to say, “Repeat after me: FORMAT TRUMPS COPY.”

The thing is, it’s easy to be shortsighted about what format means. Text sales letter? VSL? Podcast? Magalog?

The three examples I gave you above – Joe’s candid camera infomercial, interview-style financial VSLs, BBC-style stock footage ads — all three are formally video ads. But each is really a unique sub-format of video ads, which makes all the difference in their final effectiveness.

So repeat after me: Sub-format trumps copy. ​​

This brings me to a cool resource I’d like to share with you. It’s a steady source of analysis of some of the most persuasive, interesting, and influential sub-formats coming out today.

I’ll share this resource in exchange for something you can do for me:

Tell me about a unique format you enjoy.

For example, I’ve written recently about the YouTube channel Soft White Underbelly. It has a unique, consistent format across each episode, which I’ve grown to like.

I’ve also written about the Axios email newsletter about world news. It has another consistent format that I like.

So take a moment. Think about about a source of news, entertainment, education, inspiration — whatever — that you enjoy regularly and that has a strong, consistent format that you’ve grown to rely on and appreciate.

Then get on my newsletter if you’re not already on it. And when you get my welcome email, hit reply and let me know what this thing is, and if you want, tell me in a few words why you like its format.

In exchange, I’ll share with you the cool resource I mentioned above, all about interesting and emerging new formats. This resource might be enlightening and even very profitable for you, if you write or invent new DR advertising.

Watching the birth of a new belief

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My point today is not to stir up outrage. That’s because I myself don’t like outrage, even though it’s good for business.

But I find the following flip-flop story fascinating. It shows how a new belief is born, although at a mass mind level. And I think this can help you when you write copy.

So here goes, from today’s Axios World newsletter:

“President Biden ordered the U.S. intelligence community on Wednesday to ‘redouble their efforts’ to determine whether COVID-19 first emerged from a laboratory in Wuhan or through animal-to-human transmission.”

Redouble their efforts, huh?

That’s surprising. Because as you might remember, a year ago, there was exactly zero chance coronavirus came from a lab. Why exactly zero chance? Because scientists agreed. A few headlines from February and March 2020:

Financial Times: “Coronavirus was not genetically engineered in a Wuhan lab, says expert”

USA Today: “Fact check: Coronavirus not man-made or engineered but its origin remains unclear”

Science: “Scientists ‘strongly condemn’ rumors and conspiracy theories about origin of coronavirus outbreak”

Ok, on to human psychology. Here are a few things I believe to be true:

1. Individual human beliefs are driven by deep needs we are mostly not aware of

2. Beliefs are a mental shortcut for a complex underlying situation that we can’t keep in our heads

3. At the surface level, beliefs are summarized and justified by logical sound bites

Phew, that was boring, right? Because all that stuff I just told you is really abstract. You can’t really “see” it.

Our brains aren’t good at seeing how brains themselves work.

Fortunately, we can look at the mass mind.

It’s not a perfect proxy for individual human brains. But it can still be useful. Plus it’s so big and so slow-moving, allowing us more insight.

And that’s why I’m telling you about this corona story.

A year ago, there were certain underlying needs in the world. I’m not sure what they were, but they demanded the belief that corona is not lab-made. As a result, facts were found to support this belief, and only sound bites like the above headlines bubbled up to the surface. A belief was born.

Today, it sure sounds like the underlying needs have changed. And now the mass mind wants to believe, for whatever reason, in the lab-made origin, or at least its strong possibility.

So we are redoubling efforts to find facts to support this belief. And since the world is very complex, we’re sure to be successful. In fact, just now, I came across the following article by Matt Yglesias:

“The media’s lab leak fiasco: A huge fuckup, with perhaps not-so-huge policy stakes”

So that’s why I’m saying this can help you with copywriting. Because when you write copy, your real work is playing with those deep-down, hidden needs. You can give people logical sound bites, and it might help your case, but only when the right underlying conditions are there.

And maybe this corona origin story can make that real for you, can allow you to see it, so you can truly believe it.

That said, if you are interested in the strange politics of corona origins, here’s the article that put this whole topic on my radar. In case this beliefs-in-the-mass-mind stuff turns you on, take a look:

https://thebulletin.org/2021/05/the-origin-of-covid-did-people-or-nature-open-pandoras-box-at-wuhan/