I've been blogging on Medium for almost a year.
Some of my articles got quite high and I could make a few hundred bucks a month from it. But, Medium is behind a paywall, and many of the articles there is clickbait & low quality. I do not want to be a writer there.
I always wanted to start writing a newsletter. A few weeks ago I found out about substack. It looks pretty neat, plus, I could migrate all of my Medium posts.
So, my plan is to write a small daily recap of TIL & articles I was reading over the day for free subscribers. And, writing my long reads for paid subscribers.
My questions: 1. Anyone making money on Substack here? 2. How do you promote it? 3. Could you recommend any good example of a Substack on tech & entrepreneurship?
My substack: https://codarium.substack.com/about
Thx!
I read their "how to get paid on Substack" article and they work up some revenue projections/examples based on things like a conversion of email subscribers to paid monthly subscribers of 10%. That seems really really high.
I would have estimated an email campaign open rate of 10% not a conversion rate of 10%. I would have expected a conversion rate in the 1% range or less.
In my experience, people in general don't really want to or expect to pay for information on-line. They will pay to be "entertained" through for example Patreon, but not for information and particularly not text based information.
I hope you find success but I would be cautious about using some of Substack's estimates. Hopefully I am wrong.
For what it is worth, your NewsCatcher project looks interesting. Is your intent to use this new blog as a practical example of using it?
Nathan Barry has a book called Authority which basically talks about this.