How to Make Money Blogging on Substack: A Simple Guide for Bloggers

Did You Know? Substack Writers Can Make Six Figures!

Have you ever dreamed of turning your passion for writing into a real business that makes money online?

Well, get ready, because I’ve got some mind-blowing news for you.

Did you know that some top Substack writers are raking in over $500,000 a year? That’s right, half a million bucks just for doing what they love – writing!

Now, before you start planning your resignation letter, let’s dive into everything you need to know about how to make money blogging on Substack.

Trust me, it’s not just about luck or being famous. It’s about smart strategies, hard work, and knowing the ins and outs of this awesome blogging platform.

So, what’s the deal with Substack anyway?

It’s like recently gained popularity in online writing. Unlike other platforms where you might feel like a small fish in a big pond, Substack gives writers a chance to shine and get paid directly for their work.

No more relying on ads or hoping for sponsorships. With Substack, you’re in the driver’s seat of your own little publication empire.

But here’s the million-dollar question: How do you actually make money blogging on this platform? Well, my friend, that’s exactly what we’re going to discuss today.

We’ll look at different ways to monetize your writing, publish your article, grow your readership, and turn your Substack into something that keeps making money for you.

So, are you excited to get started? Let’s jump right in.

Understanding Substack’s Business Model

Alright, let’s talk about how Substack works. It’s not like other writing platforms you might have tried before. Substack is all about giving power back to the writers. How cool is that?

When you publish on Substack, you’re not just another writer. You’re running your own show, your own publication. It’s like having your own little newspaper but without the hassle of printing and distribution.

Everything’s online, and you’re in charge.

Now, here’s where it gets really interesting. Substack’s business model is built around subscriptions. That means you can offer paid subscriptions to your readers, which is a great way to earn money on the platform.

They pay you directly for your awesome content. No middleman, no complicated ad revenue sharing. Just you and your readers, with Substack taking a small cut for providing the platform.

If you have already started writing on other platforms, I don’t see the reason why you shouldn’t write on Substack as well or even repurpose your content and make it unique for your readers on Substack.

How Substack Differs from Other Platforms

You might be wondering, “How’s this different from places like Medium?” Well, let me tell you.

While Medium’s partner program does pay writers for their writing based on how much time members spend reading their stories, Substack takes a different approach.

On Substack, you’re not competing for a slice of a big pie. You’re baking your own pie, and you get to decide how big it is and who gets a slice. Your income isn’t dependent on some mysterious algorithm or how many claps you get.

It’s all about building relationships with your readers and offering them the value they’re willing to pay for, which makes the Substack model have more earning potential than the Medium business model.

The Subscription-Based Revenue Model

Let’s break down how this subscription thing works.

As a Substack writer, you can offer both free and paid content. Your free posts are like samples at the grocery store – they give readers a taste of what you’re all about.

Then, for the really good article, you can set up paid subscriptions that any of your loyal readers can pay to get access to.

You might offer monthly or yearly subscriptions.

Some writers even throw in lifetime deals for their super fans. The beauty of this model is that it creates a steady income stream. Instead of relying on viral hits or sponsor deals, you’ve got a loyal base of subscribers who value your work enough to pay for it regularly.

Note: Subscription businesses are one of the best business models that enables you to earn decent money writing every single month.

You just need to focus on creating exclusive content that any of your readers can put a price tag on based on its value.

Substack’s Fee Structure

Adding paid subscriptions for writers is probably one of the best things to happen in the writing community.

Now, I know you’re probably thinking, “What’s the catch? How much does Substack take?”

Here’s the deal: Substack takes 10% of your subscription revenue. That might sound like a lot at first, but think about it. They’re handling all the tech stuff, the payment processing, the email delivery. You just focus on what you do best – writing.

You can’t get that on Medium blogs.

Plus, Substack only makes money when you do. They’re not charging you upfront fees or making you pay for features you might not use. It’s a partnership, and they’re invested in your success.

Building Your Readership

Okay, so now you know how Substack works. But how do you get people to actually read your post? Let’s talk about building your readership.

Strategies to Attract Free Subscribers

First things first, you need to get people in the door.

if you want to get paid, free subscribers are your first step to building a paying audience. Here are some tips to attract them:

1. Write killer content: This might seem obvious, but it’s the foundation of everything. Write stuff that your reader actually wants to read. If you can do a good job with your content, then you’re going to start making money sooner or later.

2. Be consistent: Set a schedule and stick to it. Your readers should know when to expect new content from you.

3. Use catchy titles: Your title is like a first impression. Make it count!

4. Share on social media: Don’t be shy about promoting your work. Share your posts on Twitter, Facebook, and LinkedIn, wherever your potential readers hang out.

5. Engage with your readers: Respond to comments, and ask for feedback. Make your readers feel like they’re part of a community.

You should aim to get free subscriptions in the first place before adding paid subscriptions.

Leveraging Social Media and Other Platforms to Promote Your Substack

Social media isn’t just for sharing cat videos (although those are great too). It’s a powerful tool for promoting your Substack. Many writers neglect using social media to promote their posts.

But, let me show you how you can use it effectively:

1. Choose the right platforms: Focus on where your target audience hangs out. If you’re writing about business, LinkedIn might be your best bet. For pop culture, maybe Twitter or Instagram.

2. Share snippets: Don’t just drop links. Share interesting quotes or insights from your posts to pique people’s interest.

3. Use hashtags: They help your content get discovered by people interested in your topics.

4. Collaborate with other writers: Guest post on other blogs or invite other writers to contribute to your Substack. It’s a great way to cross-pollinate audiences.

5. Consider paid advertising: If you’ve got a budget, targeted ads can help you reach new readers.

Importance of Consistency and Quality Content

Here’s the thing about building a readership – it doesn’t just happen. People need to love your content to subscribe to you. So, you need to consistently deliver quality content. That means:

1. Sticking to a schedule: Whether it’s daily, weekly, or monthly, be reliable.

2. Maintaining quality: Don’t sacrifice quality for quantity. It’s better to publish less often but make sure every post is top-notch and high quality. But also, if you’re a new writer, you should understand that quantity makes quality. so at first, you need to publish as much content as possible to get good and get paid subscriptions.

3. Knowing your audience: Pay attention to what resonates with your readers. What posts get the most engagement? What topics do they seem to care about most?

4. Evolving with your audience: As your readership grows, be ready to adapt. Your 100th subscriber might have different needs than your 10,000th.

Also, with persistence and the right strategies, you can create a loyal following that’s eager to read (and pay money for) your content.

How to Make Money Blogging on Substack

Now we’re getting to the good stuff and the main aim of writing on Substack – how to actually make money on Substack.

There are several ways to monetize your writing, get paid, and increase your earning potential, the best strategy often involves a mix of these different methods.

Let’s dive in!

Paid Subscriptions

This is the bread and butter of making money on Substack. This model is exactly what makes it different from other writing platforms like Medium.

Here’s how to make it work:

1. Setting up paid subscriptions: Substack makes this super easy. You just need to decide on your pricing and what content will be paid vs. free.

2. Determining your pricing structure: This can be tricky. Generally, you don’t want to price yourself out of the market, but you also don’t want to undervalue your work. Look at what other writers in your niche are charging and consider your unique value proposition.

3. Offering different subscription tiers: You might have a basic tier for your main content and a premium tier for extra perks like Q&A sessions or exclusive content.

One-time Purchases

You need to understand that you will have different types of people who are interested in the content you publish.

Not everyone wants to commit to a subscription. Here’s how to cater to those readers to give them access to your publication:

1. Creating premium content for one-time sales: This could be things like in-depth guides, ebooks, or special reports.

2. Pricing strategies for individual articles or series: You might charge a few bucks for a standalone article or a bit more for a series on a particular topic.

Sponsored Content

While Substack is primarily about subscriptions, just every other platform such as Medium, sponsored content can be another revenue stream.

When you start writing and growing your readership on Substack, here’s how to make extra money from your publication using sponsored content:

Guidelines for incorporating sponsored content:

You need to be transparent with your readers about what’s sponsored. Also, maintain your voice and only promote products or services you believe in.

Balancing sponsored posts with regular content:

Don’t let your Substack become an ad platform. Keep sponsored content to a minimum to maintain your readers’ trust.

Crowdfunding and Donations

Some readers might want to support you beyond subscriptions.

It’s rare for many writers, but if publish content that is so good your reader wants to pay extra money for it, then it might be a reality for you:

1. Setting up a donation system: Substack allows you to accept one-time or recurring donations.

2. Running crowdfunding campaigns: You could run a campaign for a specific project or to fund a period of intensive writing.

Affiliate Marketing

This is your holy grail when it comes to making money online with your writing. It can be a nice supplementary income stream:

1. Incorporating affiliate links: If you’re writing about products or services, you can earn a commission by including affiliate links.

2. Choosing relevant products or services: Only promote things that are genuinely relevant and useful to your readers.

Selling Digital Products

Your expertise is valuable. Package it up into digital products and believe me your readers will thank you for it.

1. Creating and selling ebooks, guides, or templates: These can be standalone products or perks for higher-tier subscribers.

2. Offering online courses or workshops: If you have specialized knowledge, consider creating a course or running online workshops.

Consulting Services

Your Substack can be a springboard for other opportunities.

When you start publishing this monetization method might not be on the table but the more you become good at what you do, people will likely pay you for what you know:

1. Leveraging your expertise for one-on-one consultations: As you build authority in your niche, readers might be willing to pay for personalized advice.

2. Group coaching or mentoring programs: This can be a more scalable way to offer your expertise to multiple people at once.

But, you don’t have to use all these strategies at once. Start with one or two, see what works for your audience, and adjust as you go.

The key is to provide value to your readers in a way that also supports your financial goals and maybe generates full-time income.

Optimizing Your Content for Paid Subscribers

So, you’ve got some paid subscribers. Awesome! Now, how do you keep them happy and attract more? It’s all about optimizing your content. Let’s break it down.

Crafting Compelling Headlines and Introductions

Your headline is like a movie trailer – it needs to grab attention and make people want more. Here are some tips:

1. Use power words: Words like “exclusive”, “secret”, or “breakthrough” can pique curiosity.

2. Ask questions: Get your readers thinking right from the start.

3. Make promises: Let readers know what they’ll gain from your post.

As for introductions, hook your readers in the first few sentences. Share a surprising fact, tell a relatable story, or pose an intriguing question.

Providing Exclusive Value in Paid Content

Your paid content needs to be worth the

price tag. Here’s how to make it special:

1. Go deeper: Offer more in-depth analysis or behind-the-scenes info.

2. Provide actionable advice: Give your readers clear steps they can take.

3. Offer exclusives: Interviews, early access, or bonus content can make subscribers feel special.

4. Create series or courses: This gives subscribers a sense of progression and continued value.

Balancing Free and Paid Content

It’s a delicate balance, but here’s a general guideline to make sure you don’t spark issues between your subscribers:

1. Use free content to showcase your expertise and style.
   

2. Give enough value in free posts to keep readers coming back.

3. But save your best, most in-depth work for paid subscribers.

4. Occasionally offer a paid post for free to give non-subscribers a taste of what they’re missing.

But, your goal is to create a steady stream of content that keeps your current subscribers happy while enticing new ones to join the paid club.

Growing Your Paid Subscriber Base

Alright, now let’s talk about turning those free readers into paying customers. It’s not about tricking people into subscribing – it’s about showing them the value of what you offer.

Converting Free Subscribers to Paid Ones

Here are some strategies to encourage free subscribers to upgrade:

1. Tease paid content: Give free subscribers a peek at what paid subscribers get.

2. Limited-time offers: Run special promotions or discounts to encourage sign-ups.

3. Show the benefits: Clearly communicate what paid subscribers get that free ones don’t.

4. Use social proof: Share testimonials from happy paid subscribers.

Retention Strategies for Paid Subscribers

Getting subscribers is great, but keeping them is even better. Here’s how:

1. Consistently deliver value: Make sure your paid content is always top-notch.

2. Engage with your audience: Respond to comments, ask for feedback, and make them feel heard.

3. Offer subscriber perks: Exclusive Q&As, community features, or bonus content can increase loyalty.

4. Be transparent: Keep subscribers in the loop about your plans and process.

Utilizing Email Marketing Effectively

Email is a powerful tool for growing and retaining your subscriber base.

It’s great because Substack also has a paid newsletter feature all rolled into one. Your readers can immediately get emails from you once you release a new publication.

Here’s how to use email marketing effectively:

1. Welcome series: Create a series of emails to introduce new subscribers to your best content.

2. Regular updates: Keep subscribers informed about new posts and upcoming content.

3. Segmentation: Tailor your emails based on subscriber behavior or preferences.

4. Re-engagement campaigns: Reach out to inactive subscribers to bring them back into the fold.

Also, Growing your paid subscriber base is an ongoing process. So, you need to keep experimenting, listen to your audience, and always focus on providing value.

Analyzing Your Performance

Now, let’s talk data and performance. Don’t worry, I promise it won’t be boring! Understanding how your Substack is performing is key to growing your readership and income.

Understanding Substack Analytics

Substack provides some pretty nifty analytics tools. Here’s what you should pay attention to:

1. Subscriber growth: Keep an eye on how many new subscribers you’re getting (both free and paid).

2. Email open rates: This tells you how many people are actually reading your emails.

3. Click-through rates: Are people clicking on the links in your emails?

4. Revenue: Of course, you’ll want to track how much money you’re making!

Key Metrics to Track

While all the data Substack provides is useful, here are some key metrics to focus on:

1. Conversion rate: What percentage of your free subscribers are converting to paid?

2. Churn rate: How many paid subscribers are you losing over time?

3. Lifetime value: On average, how much revenue does each subscriber generate?

4. Most popular posts: Which of your posts are getting the most views and engagement?

Using Data to Inform Your Content Strategy

Now, here’s where the magic happens. Use this data to make your Substack even better:

1. If certain topics get more engagement, consider writing more about those subjects.

2. If your open rates are low, experiment with different email subject lines.

3. If your conversion rate is low, think about how you can provide more value to free subscribers.

4. If your churn rate is high, reach out to canceled subscribers to understand why they left.

Frequently Asked Questions

My final thoughts

Making money on Substack isn’t just about writing great content (although that’s a big part of it). It’s about building relationships, understanding your audience, and constantly learning and adapting.

To grow and achieve success on Substack doesn’t happen overnight. It takes time, effort, and a whole lot of writing.

If you’re not passionate about your topic and committed to serving your readers, you won’t become successful.

So what other monetization methods do you think we didn’t cover in this post? Let me know in the comments below.