Have you heard about Substack? It's a platform for writers and readers in a culmination of blog-meets-email-marketing. In this article, we’ll be discussing what makes this a great platform to become an established one, and the ways to grow your subscriber list.
Substack is the self-proclaimed “home for great writing.” Substack is also a place where readers and writers can engage in a new way, as subscribers can join paid subscriptions to a writer’s blog and get paid for their words directly. It means writers are writing purely for themselves and enables them to get rewarded for their efforts. There’s no agenda (other than your own), and no need to produce listicles, content stuffed with SEO keywords and clickbait titles to succeed.
Writers on Substack are required to fulfill their responsibility towards their readers. Consistency is key, and to succeed, you merely need to build your audience. As a platform for writers, you can create longer-form content without having to invest in your own website or blog, and you don’t need to change the format of your craft to suit social media algorithms. Even when you look at the platform itself, you’ll see that it sticks to a simple design. Simplicity puts the focus on writing - and gets your content emailed out to your subscribers.
Another reason people love the platform is that your work is your own. You have full ownership of the content, intellectual property, and the mailing list you build. If you decide to leave the platform, you can take everything with you. In essence, it’s bringing together writers and creators, allowing them to thrive independently, whether they’re amateur or published. It also means you don’t need to worry about the backend aspect of the site or anything of the sort. All you need to do is write (and share, but we’ll get to that).
Journalists who worry about not having the protection of their news organization to back them can take solace in Substack’s Defender service, which offers pre-clearance of stories and responses. This legal support will cover fees of up to $1 million when taken up by a Defender lawyer.
Notice how I said “creators” above - that’s because you can also host your podcast on Substack. The platform is “pioneering subscription-backed audio” alongside bloggers, comic book writers, news reporters, and niche writers.
Let’s talk about the subscription model. Essentially, this model means people can decide what they subscribe to and enjoy access to only that - there’s no other content creating noise around what matters to you. Writers can share both free and paid-for content, and the subscriptions can cost the equivalent of one cup of coffee per month or a set amount for an annual subscription. Once a writer establishes themselves, those figures add up and they can build a livelihood based on their craft. You’ll keep 90% of the revenue, Substack gets the remaining 10%, and you’ll pay a 3% fee to Stripe to process your payments.
The other option is to work on a platform that is based on advertising. The trouble with that is, the amount earned is relatively low, even though the threshold of views is high. By charging, say, $5 per month per subscriber, you can earn a lot more with a lot fewer views. And that’s the thing, it is not just views, it's a committed community of readers, which is invaluable to writers.
Some of the top writers on Substack have over 10,000 paying subscribers which generate 7-figure numbers in revenue. The platform aims to be neutral, supporting writers with differing opinions. However, some spats between writers have seen people migrating from the platform to others like Ghost (a non-profit publication model with a set monthly/yearly fee and more opportunities to customize your URL and page) and Revue.
There are other issues too, such as people questioning how much value they’re getting on the platform for the 10% fee. To improve the experience for writers, they’re looking to offer more features like editing and creating bundle subscriptions for readers.
If you’re wondering about the platform’s credentials, consider these latest stats:
So, how do you begin building your Substack community?
The Substack resource list is extensive and includes everything you need to know about how to get started and succeed.
To put it plainly, Substack is a platform that circulates free and paid newsletters. It currently has over 500,000 paying subscribers and millions of readers. It goes to show the power that a well-crafted email still holds today. To become one of the readers, or to find inspiration for your own newsletter, have a look at the top business newsletters on Substack.
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