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In a short period of time (two months), I've earned over a dozen subscribers to my email newsletters. They go out twice a month (though I may soon switch to feedblitz' daily subs for convenience).
I've found that giving out good, in-depth advice in forums, then politely ending with a suggestion to check your blog/newsletter for more tips gets people joining. It's a lot of work though, because I make an effort to really help. I don't say "Try working on your keyword density. Also, consider subscribing to my blog/newsletter for more advice." (And if I have, it hasn't produced results.)
In particular, I know people are paying attention because they reply to these posts by naming me and thanking me for the help.
Other things to note: I've used this with SitePoint only, so far, for my SEO blog. Also, the forums I've been doing this with are the website reviews. (*watches as dozens of EFers go, reg for sitepoint, and try this tactic out by spamming the reviews forums*... repeats: "you're not going to get anywhere with bs-one-line advice").
My Site Flip blog (see signature for link) has about the same number of subscribers. Except there, its mainly from telling EF people they can promote their website sale (established, turnkey, domain, wtv) through my blog. Sign up, reply to the first issue you get with your website for sale pitch, and watch as it goes into the next issue. Again, this works best if I gain people's trust first by sharing insights on selling sites in the forum post itself.
The point is that I'm providing value to my subscribers, and gaining their trust. In particular, I'm promoting through forums. (And if Andreas Bard could guarantee his posters would offer such helpful, in-depth advice around various forums, I would consider hiring his forumpal posters... you paying attention Andy? I'd need to find a better way to monetize the blog though, before spending on it...)
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