Andrew Wilkinson Makes $12K/Mo on Twitter Subs?

0:00So Neil, do you know that our mutual friend Andrew Wilkinson makes$12 ,000 a month on Twitter subs? I did not know that. And that's amazing. Although he doesn't really need the money. He doesn't. So Andrew Wilkinson, he's an investor. He has a company called Tiny. They buy other companies. He also took a company called WeCommerce Public. Very savvy guy, very smart guy. And so he decided to run an experiment on Twitter where he would charge$29 per sub, which is actually pretty expensive. And he's got, I mean, he's got a decent following. It's like 230 ,000 followers or so on Twitter. And what he does now, he does like private AMAs.

0:33people like to ask him about hiring CEOs people like to ask him about running a holding company which is what he does and he then made like a slack where people are interacting in there so what he's done is he's basically created his community of 1000 true fans in this case it's more than 1000 true fans and I'm in the slack I subscribe just for fun like I always like to test these things I subscribe to Mr. Beast thing right the five dollars a month his thing$29 a month and so I just think it's interesting because Twitter has price point his price spends 29 a month, 29 bucks a month, just to subscribe to him on Twitter.

1:03And I think it's interesting because a couple of episodes ago, we talked about how YouTube has turned on creative ad sharing, right? We're revenue sharing. So I think this is setting the precedent for a lot of B2B investor type of creators, air quote. And what are your thoughts? I think it's great. It's a great monetization model. Why not do it? It's a win-win for both people on the social sites and it's a win for twitter uh elon just ended up releasing at least on cnbc he ended up releasing a message on twitter but cnbc wrote an article on how he's still losing money from twitter so why not do all these experiments why not try to create more ways to make money why not try to create a win-win situation and if people haven't tried to make money from their twitter subscribers they should start think of it as like an easier way to create a newsletter subscription and you got a built-in audience right then and there.

1:53Yeah. I think if you have a decent following on any of these platforms and subscriptions are enabled, it's basically your Patreon. And so you get subscribers there and then you can figure out what you want to do with them afterwards. In this case, he first made a WhatsApp group and then he decided that WhatsApp is a little more difficult and a lot of people use Slack. So he moved it over to Slack. I can see him then moving it to like a paid newsletter, for example, or a community. And for him, at the end of the day, he just wants good deal flow. And eventually, he knows that a couple people in his community are very motivated people.

2:22They work hard. They're probably business owners. And the money that he makes, he's probably just give it away to charity. But it's a way for him to filter out who's actually really serious. And the people that are serious are going to actually put in some money, right? The people that are just tire kickers, not so much so. So take it for what it is. If you monetize right now your traffic through things like advertising, sponsorships, whether it's like through influencer type of stuff, or you sell ebooks or courses, you should consider making money from Twitter subs. If you're not, you're missing out.

2:55Yep. Look, the final thing I'll say here is this, right? The reason I paid the$5 a month for Mr. Beast, for example, is because he shares interesting data around YouTube, which then might give me ideas for how I might want to grow my YouTube. for Andrew Wilkinson, the reason I paid a$29 a month is he might give me ideas on, let's say, buying a company or hiring a CEO or something like that. And so at the end of the day, you have to think about your return on investment here. So if I'm paying Mr. B$60 a year, I for sure have gotten way more value than that, probably even 10x more value than that.

3:25Am I going to get more than 10x value for this subscription? Yes. And that's how you should be looking at these subscriptions in general, because you're basically investing in your education at the end of the day. And so that's all we want to say about this subject. If these features are becoming more and more available, you've got a good following there, then great for you. And hopefully it gives you an idea or two. So that is it for today. Please don't forget to rate, view, subscribe to this pod. It helps us grow quite a bit. And by the way, I want to read this review real quick. I'm going to read your reviews.

3:51If you guys leave us cool reviews, this is probably the best review I've ever seen here. So the headline here says, the podcast I look forward to above all others. And it says, so many podcasts. If I had to eliminate all others, this is the one I would keep. This is the one I would keep. Okay. Eric and Neil is akin to a secret manual of marketing wisdom wrapped in bite-sized conversational format. Like, and I'll close it out with this. The rapport between the host adds a layer of authenticity that makes you feel like you're in a room with them and sharing their wealth of knowledge. So anyway, that's from Sonny McGall from Canada.

4:20Thank you for that. If you leave more reviews, we'll read your reviews. So that is it for today. And we'll catch you later.