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How To Make Money Online With Substack

How To Make Money Online With Substack

How To Make Money Online With Substack

Introduction.

Just as technology advances, freelance writers and journalists have seen print sales plummet while cloud technology businesses such as Google and Facebook take the lion’s share of online ad revenue.

You know how, when you buy a newspaper or magazine, you turn to your favourite writer’s page first?

The truth is that some of these writers have discovered that, by leaving their publications and writing directly for their fans via a subscription newsletter, they can make significantly more money.

While there are many newsletter platforms to choose from, right now Substack seems to be the most successful globally.

Do you want to make money online with Substack? This article has been written to help you do so with ease.

What Is Substack?

Substack is an email newsletter platform. Its simple interface and ability to publish (and monetize) posts on the web have made it a game changer for writers of any skill level.

For new writers, it’s a great way to build a portfolio while finding an audience, however, niche the topic might be. For creators, it’s a great way to monetize the loyal following you’ve built on social media.

What are the benefits of Substack?

Starting an Email Newsletter is more than just simple email advertisements. You have to offer value to your audience such as tips, news, updates about your industry, and many more.

This is Because Newsletters with education and engaging content offer, have a 22% open rate.

To achieve a successful email newsletter campaign, you’ll have to choose the right software. Substack is becoming a popular option. It not only offers tools to send more engaging emails

1. Substack is Free.

Substack comes built-in with tools that allow writers and journalists to build a successful business, all of which are free.

Writers get a content management system (CMS) built for publishing email newsletters, integrated payments through Stripe, and a website that can host free and subscriber-only content.

It is very hard to find all of these tools in a single publishing platform. Substack seamlessly connects these features into one integrated platform and offers it to writers 100% for free.

2. Substack allows you to connect directly with readers.

One of the main limitations of most free blogging platforms is that they serve as a middleman between you and your readers.

For example, on Medium, you may have thousands of followers, but Medium provides writers with no reader contact information.

However, Substack solves this problem by acting as a content publisher while still allowing writers to maintain independence by maintaining an email list.

Substack makes it very easy for writers to collect emails (you can even export these emails from Substack). This provides writers with true freedom.

3. Substack can be easily monetized.

Another advantage that comes built-in with Substack is that it allows writers to easily charge for subscription access to your Substack newsletter, on an ongoing basis.

All you need do as a writer is to entice readers with an incredibly simple sign-up form for your Substack newsletter. The writer only needs to link their Stripe account to enable monetization.

Although this feature is less critical, it is also cool that Substack processes payments within 1-2 business days, utilizing Stripe. Substack pays writers as you receive payments in real-time, with only a one or two-day delay.

There are no minimum payout thresholds, further making Substack a favourite for writers. Additionally, you can also monetize your Substack newsletter with affiliate marketing programs such as Partnerstack and many more.

I wrote a comprehensive guide on how to start an affiliate marketing business. Check out the link to the article below to make money.

4. Substack Helps You Grow Your Audience.

Substack gives you an email list by default if you don’t have one already Not only that, but Substack also offers many tools to help you grow your audience. They offer many connections through the web, such as on Twitter.

There are still issues that writers will face. For example, more creators are discovering the power of paid email newsletters, making it hard to stand out. This is especially true for new and unknown creators.

5. Substack is User Friendly.

One of the best features of Substack is its ease of use. It doesn’t take long to get set up and send your first email. Substack offers a very minimalist interface. You can easily sign up, get your account set up, build your newsletter, and send emails.

This is also why Substack is the best option for those new to email marketing. You can easily import your existing email marketing list. If you don’t have one, Substack will provide you with a list.

How do I Make Money Online With Substack?

Substack is known for its hands-off approach to censorship. While there are still some publishing guidelines, the platform’s lack of gatekeeping has attracted both ground-breaking journalists and some seriously controversial writers.

In other words, the site is simply a tool to facilitate publishing for, well, anyone. And it’s working. Over 1 million people are paying for subscriptions to Substack publications each month.

Do you want to make money online with Substack? Here is how it can be done.

1. Build an audience.

Building an audience is the first step to take when making money via a substack. Audience-building for your online business includes the process of developing awareness of your brand to help you to sell more of your products or services.

The logical place to begin is to identify who your target audience is and how to find them. To start building your audience on Substack, you need to come up with topics you are quite good at.

I wrote a comprehensive guide on how to build an audience for your business. Check out the link to the article below to learn more.

2. Start an e-Commerce Business.

Selling things online is another way to make money online with Substack. E-commerce is a business model that enables goods, services and payments to be transmitted over the internet via websites like Amazon or custom websites built by you.

Online shopping is just one of many areas that have seen extensive growth over the past five years and still growing.

Depending on your goals, it might make sense to start an e-commerce business. Substack can be used as a medium to promote your e-commerce business to your audience.

I wrote a comprehensive guide on how to start an e-Commerce business. Check out the link to the article below to learn more.

‍3. Promote Your Blog on Substack.

Maybe you already run a blog and you seek to give it a boot, Substack can be used as leverage to make this happen.

Blogging can be lucrative with time and continued effort. The best way to see the monetary fruits of your labour is by posting quality content regularly that draws in new readers and brings more traffic to your website.

Substack is a platform for writers and readers in a culmination of blog-meets-email-marketing.

You can repurpose articles on your blog via Sustack or drive traffic to it while sharing snippets of links when sending out newsletters to your audience.

I wrote a comprehensive guide on how to start a blog on Substack. check out the link to the article to learn more.

4. Start a YouTube channel.

500 hours of video are uploaded every single minute on YouTube. While that may seem like a tough channel to break into, YouTube is still an invaluable way for many businesses to grow their brand exposure.

Anyone can start a YouTube channel and become successful through it, but at first, you may struggle with subscribers.

Substack can help in driving traffic to your YouTube channel which sends a signal to the YouTube algorithm that your channel is important, causing it to recommend it to other people.

I wrote a comprehensive guide on how to start a YouTube channel, Check out the link to the articles below to learn more.

5. Sell e-books via substack.

Ebooks are a great addition to any passive income strategy. Why? Because once you create an ebook, and market it, it can technically sell itself.

Now, it takes a decent amount of effort to write valuable content, but in the end, it is worth it. But when you do set everything up correctly, ebooks can help you make money for a long time.

The more evergreen your content is, and the more you keep promoting and updating it, the longer the life of your ebook.

Substack can be used as a medium to help promote your eBook, once you have an already established audience.

I wrote a comprehensive guide on how to create an Ebook. check out the link to the article to learn more.

6. Start an Affiliate Marketing business.

Affiliate marketing is an online business model that allows you to make money by referring to other people’s products or services.

An easy way to monetize your Substack newsletter is to promote affiliate links. Here’s how it works:

You promote affiliate products in your newsletter and on your site, Your audience buys those products from your unique links, and You get a commission from those sales. It is that simple!

Instead, think of affiliate recommendations like making suggestions to your friends. Only promote products you use and love. It shouldn’t be the core of your email marketing strategy.

I wrote a comprehensive guide on how to start an affiliate marketing business. Check out the link to the article below to learn more.

7. Sell Workshops and Group Programs.

Substack newsletters are a great way to drive registrations to workshops or group programs. Your list is a group of your biggest fans who are probably eager to spend time with you face-to-face.

If you’ve been delivering helpful content in your newsletters, this is especially true. Workshops and group programs can be more affordable for your subscribers who can’t afford to work with you individually.

You can also use free workshops as a list builder, like in the example below. I wrote a comprehensive guide on how to grow your business with webinars. Check out the link to the article to learn more.

8. Sponsorship.

Just like blog posts and podcast episodes, email newsletters can be sponsored. This essentially means that a brand pays you to mention its company or product in your email newsletter.

This can be a small blurb at the end of your email similar to a classified ad in the newspaper.

Or it can be a more prominent feature near the top of your newsletter. Either way, you want to be transparent about what content is sponsored by whom. You also want to respect your subscribers.

Always make sure your sponsored content aligns with your content.

Conclusion

As stated earlier, what I love about Substack is that in addition to being user-friendly, it does allow for some writer customization that platforms like Medium doesn’t allow. For example, Substack allows writers to add buttons anywhere in an article.

Writers can also edit the colour of hyperlinks, include a template image below the headline of posts, and create custom email preambles which can save writers time.

Are you a writer, seeking new ways to make money online with your skill? I wrote a comprehensive guide on how to make money online as a writer. Check out the link to the article to learn more.

What do you think?

Written by Udemezue John

I teach you how to make money online.

You can connect with me on Twitter Twitter.com/_udemezue

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