Evolution is an important part of the digital world, and so, digital marketing, advertising, media, and even journalism are in a constant state of flux. Consumer behavior also has changed and evolved, and the way they consume content is different from what it was five years ago.
As a result of all these changes, many platforms have been launched and popularized throughout the years. Substack is one of them.
What is Substack?
Substack is an email newsletter platform that enables independent publishers, entrepreneurs, creators, and individuals to charge readers for access to content and gives them the opportunity to build a community.
Users are able to opt-in to a specific writer or topic, which gives them the opportunity to be more selective with the information they consume. Using Substack, you will find that some of the creators choose to offer free content, while in other cases they offer content that can only be unlocked if the members are paid subscribers. Some publications have a mix of both kind of content, where the primary content is free, and users can be charged for more in-depth content.
Benefits of Publishing on Substack.
- Free access: when entrepreneurs or small businesses create an account, Substack provides all the necessary tools to launch their newsletter including a content management system, tools for collecting emails, integrated payments through Stripe, and a website that can host free and subscriber-only content. All these features are 100% free.
In exchange for providing all those features and tools, Substack takes a 10% commission for every paid subscriber.
- Monetization: One of the most appealing things about Substack is monetization. Substack allows writers to charge for subscriptions to their newsletter on an ongoing basis. Readers only have to sign up through a form. (stellardental.my) The writer then receives money from their readers by setting up a Stripe account.
A lot of the publications start off as free and then convert to paid content after building a base of readers. Paid publications can vary between $5 to $50, but the average is between $5 and $15 per month.
- Easy to use interface: Substack is user-friendly, and it also allows writer customization like adding buttons, editing the color of hyperlinks, adding a template image, and creating email preambles.
- Community: A lot of writers may want a direct connection with their readers, and through Substack, they can have it. The platform allows writers to maintain independence by allowing them full ownership of their email lists, which they can export from Substack.
Other benefits writers have using Substack include:
- Writers get their own domain.
- Substack hosts your website and publications.
- Writers do not have to adhere to any publisher´s guidelines.
Although at first glance it seems like a great platform, you should consider if it´s the best platform for you. Substack readers usually expect several high-quality posts per week, so creators will need to invest some time. On the other hand, if you already have an existing fan base, it will be easier to use since people will already be interested in you and your content.
As always, you need a plan before creating an account on this platform. You need to know what you will be writing about, how often, and who you will be writing for. A big part of growing your audience (and therefore your earnings) is advertising and building a community not only within the platform but also on other channels. Miss Ink can help you get your digital marketing strategy going. Contact us today to learn how we can help you.
