I run a membership based "unaccelerator" which includes course content, coaching, and community. That model works because you are providing ongoing value. My newsletter has two purposes:
1. Intrinsic satisfaction. I've always wanted to write regularly. Still haven't accomplished the frequency I want, but since the newsletter is free, I don't have to.
2. It gives people a sense of what they can find in my community so that they can decide whether they want to join.
Agreed on this point. Thanx for pointing out the bitter truth that I had at the corner ofvmy mind all the time , but, yet not sure of my action plan either.
In Medium, however, it's easier to get subscribers to sign up coz they are not paying to read just one newsletter or writer's posts but for reading all the writers' publications. Imagine, by just by paying $5 every month to Medium , as a subscriber, you are able go read all the writers' work! then the subs wouldn't think so hard to subscribe !! ?????
Great post, Matt. Former Ben Settle fan...still like the guy, but $97? Really?
I'm at the point where all the bandwagons, paid newsletters, are a red flag.
I've bought enough digital products to know what value doesn't look like. People out there reading this probably have too. All we have to do is provide the value we've been missing.
By doing so, you'll set yourself and maybe someone else free. Man, that's the stuff right there. The money will come.
On second thoughts. whats the use of becoming a writer on Substack if cannot earn much from paid subscribtions?Those who write here are persuaded to be a seller of other items but what if everyone doesn’t like to sell stuff....Would have been more easier to earn througj a regular blog where also you write for free but could earn from adsense or placing ads etc..
Absolutely agree with what you wrote Matt. Recently I though if I should have a paid newsletter but keep thinking is not the time nor the right strategy.
You fully convinced me on that and your model makes way more sense.
I like this perspective, Matt. I have a couple of paid subscribers, but I honestly don't feel good about it. I think you've convinced me to put it all back to free again.
Spot on.
I run a membership based "unaccelerator" which includes course content, coaching, and community. That model works because you are providing ongoing value. My newsletter has two purposes:
1. Intrinsic satisfaction. I've always wanted to write regularly. Still haven't accomplished the frequency I want, but since the newsletter is free, I don't have to.
2. It gives people a sense of what they can find in my community so that they can decide whether they want to join.
Love it
Agreed on this point. Thanx for pointing out the bitter truth that I had at the corner ofvmy mind all the time , but, yet not sure of my action plan either.
In Medium, however, it's easier to get subscribers to sign up coz they are not paying to read just one newsletter or writer's posts but for reading all the writers' publications. Imagine, by just by paying $5 every month to Medium , as a subscriber, you are able go read all the writers' work! then the subs wouldn't think so hard to subscribe !! ?????
medium and substack are two different beasts.
I suggest reading this, too:
https://mattgiaro.substack.com/p/writers-are-massively-leaving-medium
Brilliant article, I'm find it to be true as well. I can charge $500 for s journey coaches product easier than 1 $35 subscription to a newsletter.
I sell $5000 coaching course hybrid in another industry and same thing there. I can barely give away my paid newsletter in the same niche.
That’s the right math
We sell 10-15 of those $5000 packages a month... Not playing with paid newsletters for it anymore
Crushing it!
Years and years of building and tweaking and problem solving. Super blessed to have a team helping me run an amazing program
👊
Great post, Matt. Former Ben Settle fan...still like the guy, but $97? Really?
I'm at the point where all the bandwagons, paid newsletters, are a red flag.
I've bought enough digital products to know what value doesn't look like. People out there reading this probably have too. All we have to do is provide the value we've been missing.
By doing so, you'll set yourself and maybe someone else free. Man, that's the stuff right there. The money will come.
thx for the restack
I'm starting to realize that the paid newsletter may be a bad idea so thanks for reiterating this
glad it was helpful
But what do you do if you offer a free newsletter but nobody's buying your online courses, coaching, or digital products?
On second thoughts. whats the use of becoming a writer on Substack if cannot earn much from paid subscribtions?Those who write here are persuaded to be a seller of other items but what if everyone doesn’t like to sell stuff....Would have been more easier to earn througj a regular blog where also you write for free but could earn from adsense or placing ads etc..
well, you can monetize your work with something else like coaching, client work, courses, etc.
you get better at selling your stuff
Or maybe I should focus on selling other people's stuff through affiliate marketing! Ha!
a possibility
Absolutely agree with what you wrote Matt. Recently I though if I should have a paid newsletter but keep thinking is not the time nor the right strategy.
You fully convinced me on that and your model makes way more sense.
Thanks for sharing this
Glad it was helpul.
I like this perspective, Matt. I have a couple of paid subscribers, but I honestly don't feel good about it. I think you've convinced me to put it all back to free again.
Glad it sparked some thoughts :)
As I mentioned in the article, it's all about the strategic vision.
And if something feels wrong, ditch it. Because it's all about alignment
I 100% agree with you there on the alignment thing. You really have me thinking...!
Glad I did :)
yep