By targeting Reddit users with cheap ads to build interest in the product and assess potential feasibility before launching, Max gained 510 subscribers at a CPL of $0.35.
TL;DR
- The author: Max Reva, former Product Manager at Madgicx.
- The goal: Build an initial base of subscribers for a newsletter cheaply before launching a product.
- The tactic: Target Reddit users with a cheap ad to build interest in the product and assess potential feasibility before launching.
- The result: 510 subscribers at a CPL of $0.35 with an email open rate of around 50%.
What’s the marketing tactic?
Max Reva wanted to create a job board in a specific niche, with the idea of creating a regular newsletter digest and a regularly updated website with jobs “you won’t find on LinkedIn.”
He already had the means to get started with this job board and the newsletter, but first, he wanted to test its viability and build a solid base of users. That way, he has a headstart and can get feedback and essential data that would help him optimize the product.
He created a simple landing page for the website with a sign-up form and then posted an ad on Reddit.
For just under $180, that ad was up for two weeks. The users who viewed the ad click through to the landing page, discover the upcoming product, and sign up to receive updates.
What was the result?
In two weeks, Max built a subscriber base of 510 people. This exceeded his affordability floor; therefore, he knew it was worth pressing on with the product itself.
More than quantity, the quality of users signing up was also high. The CPL figure was $0.35, and the emails he sent to the list containing the job digest had an open rate between 44.8% – 53% and a CTR between 4.8-9.4%.
Max got valuable feedback on how the product should or could work through his interactions with this base. He was also pleased to note that the ad engaged users very directly and didn’t attract the level of spam or bots he might have expected.
The prospects for the idea in the future now look good based on the data, and with more features added and the subscribe feature.
Why does it work?
Max’s faith in Reddit as a viable platform to advertise was the fuel behind the success of this tactic and it could be a good guide for any small newsletter looking to grow its audience or test out a new idea. He points out that many believe Reddit is full of bots and spam accounts – but his experience belies that assertion.
Reddit is a community built on a thousand niches, so the prospect of a niche jobs board is nicely compatible with the platform. And Max has pointed out that the audience he’s appealing to enjoys the creative aspect of projects like this.
A job board that goes beyond the mainstream, like LinkedIn, would be attractive to people seeking more coterie communities and connections on Reddit.
The cheapest advertising possible on Reddit allows you to mitigate the risk of an early-stage project like this. It also you to get the broadest view of its potential success before committing more money to it.
