People pay 10k for curation of free articles on the internet
The Media and Content Business
Converting your passion into a business is always easier said than done….and even if you end up giving it a shot, very rarely would you see people paying you close to 10k for a 6 month subscription in India..
Well this exactly what Harish and Ramanand have been able to do — converting their passion of reading into a curation and habit building business..
Their CTQ Compounds helps people upskill themselves and become wiser by reading a single 15 minute article every day which is curated by them..
A very important aspect which came out from the discussion was that capital is not the only moat is such niche media businesses, there is much more emotion and passion involved which decides who wins and who shuts down..
Listen to the full episode here: https://youtu.be/9cSRwN5mSzM
Clips: Building a media product step by step — The evolution of CTQ Compounds
Harish and Ramanand have been heavy readers and quizzers and would often share their readings links with others. Apart from this they were also intrigued by the idea of habit building…Combining both these aspects together and aided by the growing demand for their reading links, they soon launched multiple experiments where people would build their habit of reading by consuming their curated articles..
In 2018, they made it more official and launched the same product on WhatsApp with an expectation of 8 people signing up; rather 24 people signed up within 2–3 days..
Over the last 2–3 years, the identity of CTQ Compounds has changed — it is now more about upskilling yourself by consuming curated articles of specific genres…
Listen to their start and their evolution here — https://youtu.be/r3p-vVdkixQ
Clips: An audience which pays 10k for curated articles in India?
While we all have been focused on micro-payments in India, there is a certain TG which pays anywhere between 3–10k for a period of 6 months…that too for curation of articles freely available on the internet..
Harish answers the question on who this audience is and how their product ensures that subscribers keep on coming back for more.
Clips: How did this niche and expensive product attract subscribers
In this clip, Harish answers questions around the primary customer acquisition channel for them, what has worked, what has not worked, their number paying subscribers and re-subscriber rates.
A very interesting points from this clip — He has introduced a lot of friction for people to pay..why he does this and how it helps the businesses is a lesson for all of us
A must watch for people who want to avoid the trap of falling for selling their worthwhile passion for pennies..and understanding how to price their offerings.
Clips: What is the biggest moat in a niche media business?
Sharing curated articles that are freely available on the internet and asking people to pay for it seems like an easy breeze..
Many young entrepreneurs often end up looking at such ideas online and decide to launch their own version at cheaper rates…
But people who have tried it know that consumers aren’t just willing to pay for anything.
In this clip Harish explains how someone tried doing that with their idea as well. Infact they would take Harish’s curated articles and share them with their own network for a fee.But they soon realized that niche media businesses have a different moat built around them..the moat of passion and the emotions..something which is not easy to replicate.
Listen to this interesting clip to understand how to build a moat around your business-worthy passion…
