How Dylan Launched Growth Currency to 1,600 Subscribers with Zero Followers
Who is Dylan Redekop?π
Dylan Redekop, the founder of Growth Currency, is a Canadian marketing professional with a background in content creation and newsletter monetization. Before starting Growth Currency in 2021, he worked in marketing and wrote blogs, and he's recognized for his expertise in helping creators grow their newsletters and leverage strategic ad placements.
What problem does Growth Currency solve?π
Growth Currency helps creators and solopreneurs build and monetize newsletters without needing a massive audience, allowing them to generate income from a smaller, engaged subscriber base. This is crucial for individuals overwhelmed by the need to attract thousands of followers to turn a profit, offering an accessible path to revenue that aligns with passion projects.
How did Dylan come up with the idea for Growth Currency?π
Dylan came up with the idea for Growth Currency in early 2021, amid the rapid changes of the 2020 pandemic era. Observing the growing popularity of platforms like Substack, he recognized the value of building an email list and wanted to leverage the power of owning his distribution channel. Unlike his previous blogging attempts that he had struggled to maintain, Dylan committed to creating 100 weekly editions of a newsletter, seeing this as a structured way to stick to his goal of sharing insights with the creator economy.
Before fully diving in, Dylan tapped into his experiences and insights from working in marketing, though he initially faced a sense of imposter syndrome about offering his own products. To validate his idea, Dylan started sharing his content on platforms like Twitter, slowly gaining traction as people began subscribing to his newsletter. As he continued his journey, he adapted his strategy by integrating feedback from his audience and exploring ways to monetize, eventually connecting with potential sponsors through networks like Swapstack. Through building relationships within his community, he discovered that fostering genuine connections was essential to his newsletter's growth and monetization success.
How did Dylan build the initial version of Growth Currency?π
Dylan Redekop built Growth Currency by leveraging existing platforms and tools that facilitate the creation and distribution of newsletters. He started by using Substack, a platform specifically designed for newsletters, enabling him to build his product without the need for extensive technical know-how. The development process involved committing to a consistent publishing schedule with a goal to release 100 weekly editions, beginning in January 2021. The challenge of being a solopreneur and balancing this side project with a full-time job in marketing was notable, making time and managing various responsibilities a prominent hurdle. Initially, the process was simpler than anticipated due to the user-friendly nature of Substack, but maintaining consistency while ensuring quality content remained a key challenge throughout the development of Growth Currency.
How did Dylan launch Growth Currency and get initial traction?π
Twitter Engagementπ
Dylan Redekop frequently used Twitter to discuss his newsletter, including promoting content with subscription links in his bio. This strategy helped him engage with the Twitter community and convert some followers into subscribers for Growth Currency.
Why it worked: Twitter allowed Dylan to reach a broader audience and engage in real-time conversations. By consistently sharing updates and engaging with relevant communities, he was able to grow his subscriber base gradually.
Online Communities & Networkingπ
Joining and actively participating in online communities contributed to Dylan's initial subscriber growth. By building relationships and earning loyalty within these spaces, he gained support and recommendations that helped spread the word about Growth Currency.
Why it worked: These communities provided a platform for like-minded individuals interested in similar content. By nourishing these relationships, Dylan could access valuable word-of-mouth promotion and grow his audience authentically.
Cross-Promotions and Podcastsπ
Dylan appeared on podcasts and engaged in cross-promotions with other newsletters, reaching audiences with shared interests. This strategy helped introduce Growth Currency to new potential subscribers who were already intrigued by content similar to his.
Why it worked: Collaborations allowed Dylan to tap into established audiences and leverage the trust and credibility of other creators. This network effect was efficient in reaching new subscribers aligned with his content.
Lead Magnet Creationπ
Dylan created a free 20-page guide on starting and optimizing a Substack account, which he initially used to attract subscribers. This lead magnet was later turned into a paid product, but it started as a free resource to build his email list.
Why it worked: Offering a valuable resource for free served as an incentive for people to subscribe, helping to build Dylan's subscriber count by appealing directly to the interests of his target audience.
What was the growth strategy for Growth Currency and how did they scale?π
Twitterπ
Dylan Redekop used Twitter as a primary platform to promote Growth Currency. By frequently discussing his newsletter and including subscription links in his Twitter bio, he was able to organically reach potential subscribers. The engagement on his Twitter content, such as threads about his newsletter's articles, helped amplify his messages and bring more visitors to his sign-up page.
Why it worked: Twitter allowed Dylan to leverage his existing followers and engage with a community interested in newsletters and solopreneurship. By consistently sharing valuable content and his own learning experiences, he attracted an audience that valued his insights, leading to new subscribers.
Cross-Promotions and Networkingπ
Dylan engaged in cross-promotions with other newsletter creators who had similar audiences. He also participated in several online communities, fostering genuine relationships that turned into loyal support and additional subscribers.
Why it worked: Cross-promotions with like-minded content creators allowed Dylan to tap into complementary audiences. Networking in niche communities provided a platform where his content could be shared among potential subscribers already interested in the themes explored in Growth Currency, thus facilitating organic and more genuine growth.
Medium and Repurposing Contentπ
Dylan repurposed his newsletter content on Medium, leveraging its existing audience and social blogging network to drive more subscribers. He strategically used Medium by posting the same articles from his newsletter and provided links for readers to subscribe to Growth Currency.
Why it worked: Mediumβs platform offered exposure to a broader audience that may not have been familiar with Growth Currency. By repurposing content, Dylan maximized the reach of his work without having to continuously create new content from scratch, thus efficiently driving subscription and awareness.
SparkLoop and Referral Strategiesπ
Although Dylan did not heavily focus on paid growth, his involvement with SparkLoop β a newsletter recommendation platform β helped in growing his subscriber base. SparkLoop allows newsletters to mutually recommend each other, providing a ready audience potentially interested in subscribing.
Why it worked: Such referral programs are effective in reaching audiences who are already engaged with newsletter content. These audiences are pre-qualified as newsletter enthusiasts, making them more likely to subscribe to Growth Currency when they encounter it through trusted recommendations.
What's the pricing strategy for Growth Currency?π
Growth Currency uses a newsletter monetization strategy, offering free content alongside sponsorship opportunities, with initial ad prices starting at $25 for a growing audience.
What were the biggest lessons learned from building Growth Currency?π
- Embrace Consistency: Dylan committed to publishing 100 weekly editions of Growth Currency, which established a strong foundation for his newsletter and built a consistent audience over time. Consistency helped maintain momentum and allowed gradual growth without the pressure of instant success.
- Start Small, Scale Up: Growth Currency began with zero subscribers and achieved initial traction through organic methods. By sharing content on Twitter and engaging in online communities, Dylan slowly built a loyal subscriber base without relying on a massive starting audience.
- Adapt and Pivot: Dylan learned the importance of flexibility as his newsletter evolved. Initially focusing on various topics, he eventually niched down to newsletters based on feedback and encouragement from peers, which opened more opportunities and made content creation easier.
- Leverage Relationships for Growth: Many of Dylan's early advertisers were people he had built relationships with. By networking genuinely without ulterior motives, he bolstered his monetization strategy when they sought to support his newsletter.
- Monetize with Intent: Dylan used platforms like Swapstack to find advertisers, validating that turning a newsletter into a source of income was feasible. He emphasized the importance of aligning ads with his content to ensure they resonated with his audience and provided value for advertisers.
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More about Growth Currency:π
Who is the owner of Growth Currency?π
Dylan Redekop is the founder of Growth Currency.
When did Dylan Redekop start Growth Currency?π
2021
What is Dylan Redekop's net worth?π
Dylan Redekop's business makes an average of $/month.
How much money has Dylan Redekop made from Growth Currency?π
Dylan Redekop started the business in 2021, and currently makes an average of .
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
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