Sarah Royal Muleshe This is a new wave for writers.
Ever wondered if you could get readers to pay for your content on a monthly basis?
Well, wonder no more.
I’ll discuss a platform that has you covered, from writing content to getting readers pay for it and handling your payments.
Let’s quickly dive right in!
What’s This Hidden Gem For Writers?
Well, it’s the little-known “Substack.”
This online corner let’s you monetize your writing with paid subscriptions.
You heard me right!
The money-making platform has had some famous novelists “seek refuge in it” to tap into its unmatched potential of keeping wallets full.
We’re referring to:
- George Saunders
- Salman Rushdie
- Chuck Palahniuk
These guys are all in and have no intention of looking back.
Will you be next to hop onto the bandwagon?
But first things first…
What Is Substack?
It’s like Medium (the famous writing platform most writers are ditching for Substack), but better.
I’ll explain.
Well, Substack automatically sends your articles to readers who love you.
It does this whenever you publish stuff. Yeah, every one of your subscribers will get your published stuff right into their inbox.
You own your audience!
Which is why it might be safe to categorize Substack in the same class as:
- Kit (formerly Convertkit)
- Mailchimp
- Beehive
But here’s where Substack has an edge:
It’s free of charge. No, you won’t ever have to pay a dime for subscribers to read your content.
Meanwhile:
Your subscribers will (happily) pay to read your content.
How To Get Started On Substack
It’s easy peasy.
Just sign up for an account.
Substack lets you sign up via gmail as well. And, yes, the process is pretty straightforward.
Once you’ve signed up for an account, you’ll be prompted to set up your publication.
Follow the steps and give the thing (publication) a name and description. That’s what your users will see before they subscribe to your publication.
So, make sure it “stands out.”
For your information:
Substack has an app.
You can get going (writing and posting stuff, etc.) inside of it if you don’t want to get your eyes glued to the big screen, aka desktop.
However, at least from my experience, to get your publication set up, you’re going to have to use a PC.
What Next?
The obvious.
Write posts and hit the “publish” button.
Hint: After publishing your first long-form post (there are short-form posts, too, more on that later), start subscribing to (and/or following) your favorite publications.
Do it sparingly, though.
Subscribe to (or follow) accounts with stuff you’re interested in.
The opposite is also true.
Of course, folks are only going to subscribe to (or follow) your publications if you offer value.
So, make sure you do.
Post Content Consistently
After publishing your first post, don’t stop right there. Start thinking of how you’re going to get your second post done.
By being consistent, you’re more likely to “befriend” the algorithm.
And, like they say, the rest is history.
Still, you want to stick to a specific publishing schedule, say, every Monday, Tuesday, Wednesday, etc.
Just so you know, though, most publications tend to post long-form posts over the weekends.
A specific time of the day might come in handy, too, say 9am, 1pm, 3pm, 4pm, etc.
That way, subscribers will look forward to reading your posts.
Recommend Other Substack Publications
Did you know Substack lets you recommend other people’s publications?
Well, here’s how it works:
You recommend your favorite publications, which are then featured on your profile.
To return the favor, the owners of the featured publications might recommend your publication to their subscribers.
Why Is This Key?
It’s a win-win. You help others grow, and they help you grow, aka, get more subscribers.
In case you had no idea, a publication’s new subscribers always “see” the recommended publications and are likely to subscribe to one or two (or all) of these.
We see it happen most of the time.
Like I said, this is one of the ways to grow on Substack, and that’s how some of the big names on the platform “came to be.”
Grow Even More (And Faster)
I remember mentioning short-form posts somewhere in the article, right?
Yeah, these are tweet-like (for lack of a better word) posts you can post regularly on Substack.
They are referred to as “notes” on Substack.
I called them tweets because that’s what they really are: short text that can take various forms: lists, quotes, snippets of long-form posts, etc.
And just so you know:
Notes appear in Substack feeds.
In other words, they’re likely to be seen by every Tom, Dick, and Harry on the platform.
Moreover, these (’em notes) have a “subscribe” button next to them in the feeds. Meaning, if someone gets “intrigued” by your note, they’re likely to do one (or all) of the following:
- Subscribe to your publication
- Follow your publication
- Recommend your publication
Sweet, yeah?
Posting notes is the most effective way to grow on Substack.
How To Earn Money On Substack
I know, this is the part y’all have been waiting for. Understandable. Who doesn’t love $$$, anyway? So, let’s explore it.
You can earn money on Substack via paid subscriptions.
Well, subscriptions on Substack are priced from $5 to $10 a month. Yep, that’s how much a reader can pay (monthly).
Just to read your content.
So, with just, say, 100 subscribers, you can walk home with a whopping $1,000.
Every month. How cool is that?
But here’s the trick: Don’t pay-wall all of your posts, only the most valuable ones. Then leave the less-valuable stuff for your free subscribers to consume.
That way, if free subscribers want to access the most valuable content, they will have to pay for it.
Here’s a hint:
Write more valuable content so your readers are happy to pay to access it.
And that’s how you can easily walk away with a monthly paycheck from Substack.
By the way, some publications usually make a portion of a post accessible for free, then they pay-wall the rest of the content in that post.
For example, they could make the intro of a post accessible for free, then pay-wall the rest of the content.
Again:
Enthusiastic readers will have to pay to access the “hidden” (pay-walled) content in a given post.
Grow, Grow, Grow
Keep on getting yourself subscribers by posting notes consistently (10 times a day, even).
I like to call this the “rinse and repeat” method.
Why is that, you might ask?
It’s basically doing the same thing over and over: Posting notes several times a day to boost your chances of bumping into free and paid subscribers.
This is also a common way to grab yourself followers. Ultimately, you can easily convert ’em (followers) into paying subscribers by publishing valuable long-form content.
In the same vein, you can convert free subscribers into paying ones, again, by posting more valuable stuff.
It’s as simple as A, B, C,… Give your audience a reason to want to give you their money (every month).
So, What Are You Waiting For?
Go make yourself some $$$, and thank me later.
Hint: Don’t just write for everyone, find yourself a niche.
Then:
Make sure to appeal to your audience, who will love you for giving them what they want — and happily pay for it.
Hey, before you go, I welcome any thoughts, questions, suggestions (pretty much everything) you might have on this little-known way to earn money online.
Uh-huh, feel free to express your thoughts in the comments below. I will gladly read and respond to all of them.
Cheers. 😉