How to make money with Substack

Looking for a way to make money online with your writing? If so, Substack might be a good choice.

In life, success is often about finding the right opportunity at the right moment, and right now Substack is thriving.

Writers and content creators share their ideas through Substack, and readers go there to learn and be entertained.

In this article, we’ll talk about how to get started, what you should write about, and some extra tips to be successful in making money with Substack.

What is Substack?

Substack is a news service that has become popular in recent years as a platform where authors share paid and unpaid content.

Some of your favorite writers might be writing on Substack and you don’t even know it.

When someone subscribes to your content, they’ll receive an email whenever you post.

How do I get started with Substack?

Substack has some fantastic resources to answer all your questions.

I would start by looking at the Substack Help Center. You can enter your question in the search function or view the frequently asked questions.

Substack also has a great thread archive called Office Hours where you can see other users’ questions.

If you want to try it for yourself, you can click here to get started with Substack.

What should I write about?

The beauty of a platform like Substack is that the possibilities are endless. The first thing to consider is what topics you like to write and share about.

Do you have a particular area of expertise? If your information is to teach something, you should also make sure that you are knowledgeable about the topic and are at least a few steps ahead of your intended audience.

If you already have a newsletter on another platform or follow social media or a blog, you may already have a good idea of what your audience would like to share.

If you’re still stumped and out of ideas, don’t worry! I would suggest heading over to Substack and checking out other authors to see what resonates with you and if you can find inspiration.

Tech, business, finance, fashion and parenting are generally popular topics.

What do readers want when they pay for a newsletter?

It may sound simple, but you should first know your subscriber base before you start thinking about monetization. Some readers like to subscribe just to get more posts from you or to access your full content archive.

Why prefer other intelligence services?

There are several reasons why you should consider Substack. First, it’s free. This is an even bigger bonus if you are starting from scratch and not making money from an email list or writing.

Second, Substack has millions of readers, so it already has a built-in user base and most people are familiar with it today.

What other features does Substack have?

Chat: Chat is a feature that allows you to connect with your subscribers. According to Substack, publications with chats grow at twice the rate of those without chats. You can choose whether the chats are available for free, paid or founding members. I recommend reading this guide to learn more about the chat feature.

Comment: Substack shares that “Notes are a feature where authors can publish short posts and share ideas with each other and their readers. Through Notes, authors can share posts, links, images, quotes, and comments with their subscribers and the larger Substack network.” You can also learn how to use Notes to get more subscribers here.

Contributions: Posts are intended for longer content and will be emailed to your subscribers. This is how you publish your first post.

You can also set up a homepage, welcome page, about page, host your podcast and more.

If I already have a newsletter, can I switch to Substack?

Yes! Substack has a great article detailing how to switch to Substack from other newsletter providers like Mailchimp, Kit, Patreon, Gumroad, etc. You can view the article here.

The article provides details on how to launch a Substack publication, import your list and content, how to connect your Stripe account, ways to customize your publication, and other useful information.

How do writers make money with Substack?

Substack creators make money primarily through paid publications, which we’ll talk about in a moment. In addition to paid publications, if you sell other products or services, you can use Substack to acquire subscribers and direct them to your other offers.

If you are considered an expert in your field or niche, you may also have people or companies reaching out to you for partnerships, sponsorships, collaborations, consulting, coaching, etc.

How can I start a paid publication?

Once you’ve created your publication, you can pay for it in 5 easy steps.

Log in to your Substack account and go to your publications”settings“.
In the left navigation panel, select Payments and under Payments, click the button labeled “Connect with Stripe.”
Once you are redirected to the Stripe website, you will fill out the required information to receive payments. You can click here if you need more information on how to get started with Stripe or set up payments.
Once you return to the Settings page, you can set prices for different plans, including monthly, annual, and founding members.
After completing the above steps, click the radio button on “Allow payments.” And once you do, your paid newsletter will be active!

You can also check out the Substack Going Paid Checklist and The Ultimate Guide to Paid Subscriptions.

Close-up image of freelance desk with laptop, phone, notepad, pen and cup of coffee.

How much should I charge for a paid substack?

There are several things to consider when choosing an annual or monthly fee.

Who reads your newsletter and how much are they willing and able to pay?
How much does a similar paid subscription cost?
What value are you offering your readers?
How much time do you spend on each newsletter?

Generally, charging between $5 and $10 per month seems to be an average subscription fee. You can also start lower and increase your prices as you gain experience and more readers.

Is there a charge for Substack?

Yes. Substack takes a 10% fee if you have a paid newsletter. In addition, there is also a credit card fee which works out to (2.9% + $0.30 transaction fee). There is also a 0.7% billing fee for recurring subscriptions. Click here for more details on fees.

Can I continue to share free content once I have a paid publication?

Yes! You can do both. In fact, offering valuable free content is a great way to convert readers into paid subscribers. When you go to publish content, you can choose whether it will be made available to all subscribers or behind a paywall.

Tips to grow your audience with Substack

Consistency is key: To be successful on Substack, you need to put in the time and post consistently. Most people do not experience success overnight. As with social media platforms and blogs, it will take time to build an audience.
Engage with readers: Engaging your readers will benefit you in several ways. First, the more you engage, the more you learn about your readers and what they need from you. Second, your readers will feel more connected to you and continue to support your work.
Subscribe to both paid and free content: Try to follow at least five other successful substacks and pay attention to what is high quality content for you.

How to stay motivated when you don’t have many (or any) paying subscribers

This is difficult and there is no simple answer. Hopefully you’ll pick a topic that interests you at least a little, so even if you don’t make money at first, you can still enjoy the process.

The great thing about not having many initial subscribers is that you can make mistakes and learn without a lot of pressure. Think of the first few months or even the first year as a way to develop your skills.

Enjoy small wins! Getting your first subscriber is a big win, so be proud of yourself. Or even having one person comment on your post is also huge.

Finally, don’t be afraid to share your Substack with friends or family. While they may not all be your ideal subscribers, they will likely want to support you and can help you spread the word to people who might be interested in your topic.