Since Substack's inception in 2017, for writer's and creator's alike, it has become one of the internet's most popular platforms. It's great for both beginners and seasoned writers, and gives you the tools to build a popular platform for free.
Let's take a look at 3 ways to monetise your Substack:
1. Paid Subscriptions
With paid subscriptions you can either set it in place when you start your Substack, or you can put it in at a later date. You can offer your audience a freebie, which could be some kind of download like an ebook, a piece of information they need, or a video/audio file.
2. A Paid Community
You can generate extra income by offering live chats with your paid subscribers, or a service you may want to provide.
3. Sponsorships
You can partner with a brand that lines up with the content you're providing. You can look for brands that:
- Only fit it with your audience's interests.
- Make sure that you clearly mark all of your sponsorship to maintain trust with your audience.
- Limit the amount of sponsorship posts, don't go too overboard, you could put your audience off.
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