For once, I can claim expertise in this field!
Substack is a platform that enables bloggers and journalists alike to create their own publishing platform, with or without a paywall.
The platform pays for itself through subscriptions.
To generate engagement, in fact, a great deal is done on LinkedIn, and the recipes are the same as for blogs/content sites: promote on social networks, do guest posts, make promotional offers if your articles are behind a paywall.
To create subscriptions - which means making people want to give you money every month - you really need to have an active community, which is why a lot of journalists do this. We already have a community.
For whom Substack is not at all suitable:
- affiliate/dropshipping (forget it);
- those who want to have their hands on the technical side (that's why I'm not on it);
- those who want to promote video/photo content (Patreon is more suitable).
For whom Substack is suitable:
- freelance journalists who want to monetize their articles (yes, we eat every day too);
- bloggers;
- those with no tech profile at all;
- those with a specific B2B community;
- those who are really able to produce content on a very regular schedule to engage their community.
The buddy who uses Substack publishes a weekly newsletter.
Alternative to Substack: Gumroad, which is pretty good and which I had seriously considered. The only reason I didn't pursue it was that the VAT rate wasn't customizable, and I have a separate VAT rate (not 20%).
But how to promote this substack? On twitter, facebook or does substack itself will bring the traffic like as medium ?
Does a substack convert good with direct affiliate links , like many affiliate marketers do it on twitter and youtube ,pinterest....?
Little downside with all these third party platforms: I want the twitter traffic going to my own website or going to the direct affiliate link, instead that the twitter traffic goes to a platform like substack- you should build your own business, your seo rankings, your list, not build a busienss for others...
(I hope you understand my meanings)
To promote your Substack, you can invest mainly in Twitter and LinkedIn. Your target markets are professional networks, B2B and, of course, email marketing.
No, it's not at all suitable for affiliate or dropshipping.
No, Substack doesn't take care of your communication; the platform provides a technical solution and that's where it ends.
I just received a substack system email saying that people on their platform are making six figures
Yes, but as with all other platforms (Twitch springs to mind), this is far from the majority.