I often tell my coaching clients they should focus on growing total subscriber numbers if they want to increase their revenue - after all, you can’t get more paying subscribers unless you get more subscribers overall.
But what about the quality of subscribers?
Here is a list of 8 questions I’m asked over and over about subscriber counts and subscriber quality, accompanied by unfiltered answers.
“High-quality subscriber” may be the wrong fixed label. Quality depends on the work you are trying to do. A paying reader matters to one publication. For another, the reader who shares an idea with five leaders, buys the book, or applies something years later may be far more valuable. The better question is: what meaningful action do we hope this reader takes next?
This. This is what I am striving for in building a writeing community here on Substack. I have an article on this topic in the pipeline, but this morning a different article moved to the top of my to-finish list. My POV is different, my subscriptions are free, I wanted to build community, but it is not going well. A couple of good writing connections, a complicated scam attempt that I am still monitoring for yet another article. I am going to be following this conversation that many of us are having with ourselves. I am interested in every single POV on this. Thank you Karen for starting this conversation. Thank you Todd for your insightful comment. I felt seen by this comment, especially this: "...the reader who shares an idea with five leaders, buys the book, or applies something years later may be far more valuable. "
This is great advice, however my content is personal essays so there is no “benefit” other than simple enjoyment of reading. How do I monetize on that?
The business model is a little baffling to me overall. There are a lot of people who have great content, I genuinely love their stuff. But if I paid for all of the subscriptions it would amount to a second mortgage. Just 20 paid subscriptions would be 1600/year. That’s close to the amount I pay for my malpractice insurance as a psychologist.
I want to be a quality subscriber and engage meaningfully with the work, but when comments are behind a paywall it isn’t possible.
I have a paid tier, but what I really want is for people to read and engage with my work, so I see the paid tier as a generous donation from a committed few.
People need to know you “a little bit” anyway before they trust you and subsequently want to buy from you. Plus “no” means “not now” so “maybe later”. “Never” is a 4 letter word in sales. Finally your free subscribers might want to recommend you to other people if they find your content valuable for someone else so… there’s no such thing as low quality public 🌞
The division, from my perspective, is the primary motivation of why people write: for some, it’s a labor of love independent from financial motivation. For most, it’s a labor of love and financial necessity.
For me, it’s definitely the latter. I had high hopes in making Substack a part of my ever dwindling income in nonprofit management (STEM education) where we’re taking one hit after another and continued funding is a mirage.
As for data: at peak, I had 5600 subscribers. Then, for one reason or another, I dropped almost 600 subscribers over the past 16 months.
The data doesn’t tell me anything actionable.
Conversions are sub 1%.
When I look at it from a time & subscription fees investment (it takes both to produce content), we’re back to “labor of love,” because anyone with half a brain cell would tell me to stop today, and focus on a profitable venture.
I’ve wrecked my head as to what to do differently. One issue is that my content isn’t diversified onto different platforms. So, there’s no pipeline.
Churn is normal. Every email list gets unsubscribes. The problem starts when you don’t have a feeder that is greater than the number of unsubscribes.
Topically, there are some breadcrumbs that suggest a particular type of post, only to find out that that’s not true, because the next 5 posts that follow the analysis, generate zero new subscribers (free or otherwise).
Perhaps it’s also the number of writers, the number of big names and the way Substack will always algorithmically favor those who generate the most revenue for them.
I don’t have any answers, and worse yet, no real data to identify the culprit(s).
So, back to writing another piece, hoping to catch lightning in a bottle again, and/or invest more time and get better in spreading content, originating from a long form post, to different platforms.
I appreciated the last point about free subscribers. As I grow my new publication I will consider how I can better incentivize them to share my publication more broadly.
This is very useful information since I'm quite new to Substack. I've had my paid tier turned on since I started, and actually have 2 paid subscribers, but they're just friends who wanted to support me. It's an interesting exercise trying to figure out the right way to monetize.
Thank you Karen for all this useful information. I think numbers are attractive to readers just like customers who see a shop buzzing with life.
I'm not against into getting more subscribers. They will always be some who just don't care or subscribe without thinking. It's okay.
I have a link for my book and a buy me a coffee link. I'm also thinking to create something special for only the Substack readers something that they can't find anywhere else.
My goal is to sell value than just selling.
It think it does great good to the reader and to me.
“High-quality subscriber” may be the wrong fixed label. Quality depends on the work you are trying to do. A paying reader matters to one publication. For another, the reader who shares an idea with five leaders, buys the book, or applies something years later may be far more valuable. The better question is: what meaningful action do we hope this reader takes next?
This. This is what I am striving for in building a writeing community here on Substack. I have an article on this topic in the pipeline, but this morning a different article moved to the top of my to-finish list. My POV is different, my subscriptions are free, I wanted to build community, but it is not going well. A couple of good writing connections, a complicated scam attempt that I am still monitoring for yet another article. I am going to be following this conversation that many of us are having with ourselves. I am interested in every single POV on this. Thank you Karen for starting this conversation. Thank you Todd for your insightful comment. I felt seen by this comment, especially this: "...the reader who shares an idea with five leaders, buys the book, or applies something years later may be far more valuable. "
This is great advice, however my content is personal essays so there is no “benefit” other than simple enjoyment of reading. How do I monetize on that?
The business model is a little baffling to me overall. There are a lot of people who have great content, I genuinely love their stuff. But if I paid for all of the subscriptions it would amount to a second mortgage. Just 20 paid subscriptions would be 1600/year. That’s close to the amount I pay for my malpractice insurance as a psychologist.
I want to be a quality subscriber and engage meaningfully with the work, but when comments are behind a paywall it isn’t possible.
I have a paid tier, but what I really want is for people to read and engage with my work, so I see the paid tier as a generous donation from a committed few.
I tagged this to read later, but I love the title 😂
Appreciate your perspective. It's much different than any other adise I've heard.
Really helpful thanks. Subscribed. 🙏
People need to know you “a little bit” anyway before they trust you and subsequently want to buy from you. Plus “no” means “not now” so “maybe later”. “Never” is a 4 letter word in sales. Finally your free subscribers might want to recommend you to other people if they find your content valuable for someone else so… there’s no such thing as low quality public 🌞
Ok, then. But also, yes.
The division, from my perspective, is the primary motivation of why people write: for some, it’s a labor of love independent from financial motivation. For most, it’s a labor of love and financial necessity.
For me, it’s definitely the latter. I had high hopes in making Substack a part of my ever dwindling income in nonprofit management (STEM education) where we’re taking one hit after another and continued funding is a mirage.
As for data: at peak, I had 5600 subscribers. Then, for one reason or another, I dropped almost 600 subscribers over the past 16 months.
The data doesn’t tell me anything actionable.
Conversions are sub 1%.
When I look at it from a time & subscription fees investment (it takes both to produce content), we’re back to “labor of love,” because anyone with half a brain cell would tell me to stop today, and focus on a profitable venture.
I’ve wrecked my head as to what to do differently. One issue is that my content isn’t diversified onto different platforms. So, there’s no pipeline.
Churn is normal. Every email list gets unsubscribes. The problem starts when you don’t have a feeder that is greater than the number of unsubscribes.
Topically, there are some breadcrumbs that suggest a particular type of post, only to find out that that’s not true, because the next 5 posts that follow the analysis, generate zero new subscribers (free or otherwise).
Perhaps it’s also the number of writers, the number of big names and the way Substack will always algorithmically favor those who generate the most revenue for them.
I don’t have any answers, and worse yet, no real data to identify the culprit(s).
So, back to writing another piece, hoping to catch lightning in a bottle again, and/or invest more time and get better in spreading content, originating from a long form post, to different platforms.
I appreciated the last point about free subscribers. As I grow my new publication I will consider how I can better incentivize them to share my publication more broadly.
This is very useful information since I'm quite new to Substack. I've had my paid tier turned on since I started, and actually have 2 paid subscribers, but they're just friends who wanted to support me. It's an interesting exercise trying to figure out the right way to monetize.
This was really insightful! I’m really curious about that 10% rate, I’ve never seen anyone in the parenting subject on Substack achieve that.
I do wonder if you need to be selling some sort of coaching to get paid subscribers as that seems to be the norm
Wow, this was an insightful one for me, makes me realise i gotta work harder.
This is great, Karen. I appreciate your insight and now have a lot to think about as I continue to grow.
Thank you Karen for all this useful information. I think numbers are attractive to readers just like customers who see a shop buzzing with life.
I'm not against into getting more subscribers. They will always be some who just don't care or subscribe without thinking. It's okay.
I have a link for my book and a buy me a coffee link. I'm also thinking to create something special for only the Substack readers something that they can't find anywhere else.
My goal is to sell value than just selling.
It think it does great good to the reader and to me.
A jeśli ktoś pisze dla przyjemności i chce dzielić się sobą tylko dla własnej radości? Dolary są mało ważne. Są jeszcze tacy publikujący tutaj?