What is Substack?
Substack is a simple platform for newsletters and content creators that lets you earn revenue from your writing and Podcast. If you write and publish an article here, it will go straight to your subscribers’ email inboxes.
The difference between regular blogs (Blogging) and Substack
- Instead of relying on the Google search engine or Facebook algorithms, you can connect with your readers directly through your existing email list in Substack.
- Regular blogs have to rely on ads like Google AdSense to make money. But on Substack, your readers pay you directly through subscriptions. No third-party ad disturbance here.
- If you want to start your own blog, you need to pay for a domain and hosting. But publishing on Substack is completely free; they take some percentage commission only when you start making money.
Its Craze and Future in India (Scope in India)
The creator economy is growing rapidly. Substack has become a great platform, especially for writers in finance, technology, politics, and regional languages (Telugu, Hindi, etc.).
A big plus point for writers in India is that your content doesn’t get lost among the thousands of posts on social media; it goes directly to readers’ personal email.
Many Indian journalists and freelancers are turning to it because of the possibility of earning in dollars and the ease of transferring funds to Indian bank accounts through Stripe.
How to start Substack
Before starting your journey on Substack, you need to choose a proper ‘niche,’ or topic. It is important to decide in advance which subject you are good at or which topic you can write about consistently.
If you focus on a specific topic, such as finance, technology, personal development, or storytelling, you’ll attract readers who are interested in that subject.
Once the topic is finalized, sign up on the Substack website with your email and set your publication name and website URL.
Setting up an attractive bio and a professional logo will increase your brand value, so readers understand what you write at a glance.
After setting up the account, the real task is to build the ‘subscriber base.’ Initially, you can import your existing email contacts or share your link with your friends and family.
Substack’s built-in ‘import’ feature lets you easily transfer subscribers you already have from other blogs or MailChimp.
At least offer quality content for free for a few weeks without thinking about payments initially. This will endear the reader to your writing style and build trust in you.
You should also set up a ‘welcome email’ in your publication settings, as this is the first message someone will receive when they subscribe.If all these basic steps are done correctly, your substack journey starts with a solid foundation.
Monetisation Methods
Paid subscriptions are the most important source of revenue, especially on Substack. If your readers like your content, they will pay a monthly or yearly fee to read your premium articles.You can choose which posts stay free for everyone and which ones are only available to paid subscribers, using a paywall.
Usually, you can decide on a fee of $5 or more per month. Apart from this, there is also a special option called ‘Founding Member.’ Readers who love your work so much can pay more than a regular subscription to give you extra support.
Apart from subscriptions, Substack can also generate income in other ways. When your newsletter has a good reader base, brands related to your topic will approach you for ‘sponsorship.’ You can charge a good amount by mentioning their product or service in your article. Also, through ‘affiliate marketing’ by giving links to books or tools of your choice in your articles, you get a commission when someone makes a purchase.
The platform itself advises you how to increase your subscriptions through Substack’s recently introduced ‘Substack Boost’ feature, which helps double your revenue. Another important thing is that you can also promote paid workshops or courses depending on the content you offer.
For example, if you write about the stock market, host a live webinar and get registrations for it through your newsletter. Substock takes only 10% of your income as commission, and the rest goes to you. In this way, you can earn a steady monthly income (recurring income) from India using the platform’s features and your personal brand value.
Technical Setup in India
If you are in India and want to earn money through Substack, the payment gateway called ‘Stripe’ is the most important. Substock does not send funds directly to your bank account; they are sent through Stripe. So, first you need to create a Stripe account and link it to your Substack publication. While going through this process, you should have your PAN card, Aadhaar card, and bank account details ready.
As Stripe operates under RBI regulations in India, it is mandatory to complete your KYC process. It is enough to select your business type as ‘Individual’; no registered company is required. Be careful with currency when setting up payments.
You can set the subscription fee in dollars (USD) or Indian rupees (INR). However, it is better to price in dollars if there is likely to be a foreign readership as well. Stripe will automatically convert the amount into Indian rupees and credit it to your bank account, minus the prescribed taxes and stock fee (10%).
As per the rules in India, while making payments in foreign currency, a ‘Purpose Code’ is asked for, where the appropriate option, such as ‘Content Creation’ or ‘Software/IT Services,’ has to be selected.
Many people are skeptical about GST. Initially, GST is not required if your annual income is low, but once it exceeds a threshold (usually ₹20 lakh), it is advisable to register for GST. After your bank statement and address proof are verified in the Stripe account, the ‘Paid Subscriptions’ option will be enabled on your Substack dashboard. Once this setup is done, the income from every paid post you write will go straight into your pocket.
Content Strategy (Content Plan)
Being successful on Substack requires more than just writing good articles; it requires a solid strategy. Especially following the ’80/20 rule’ will give good results. That is, 80 per cent of the content you write should be made available to everyone for free, and only the remaining 20 per cent should be reserved for paid subscribers.
By doing this, new readers will see the quality of your content and build trust in you, and only then will they be interested in becoming a paid member. For example, two general articles a week can be sent to everyone, while a special research or in-depth analysis can be locked to paid members only.
Consistency is very important in this platform. If your readers can predict when you will post, they will look forward to your newsletter. Sending at least one or two quality posts per week will improve your reader retention. The content you write should not only be informative but should also provide some value to the readers. Keep in constant communication with readers by asking them to comment or share their views at the end of the article. It turns your newsletter into a community rather than a website.
Another important thing is to know how to use your old articles (archive). Old posts in the substack are also read by new subscribers, so they should be updated from time to time. Adding occasional voice notes or short video clips to your content plan, rather than just text, will keep readers from getting bored. Since most people in India read emails on their mobile phones, you need to make sure that your articles are mobile-friendly. That means keeping paragraphs short and bolding important points makes it easier for the reader to read.
Growth Tactics
It is important to use the platform’s internal features to increase your subscriber count on Substack. In this, Substack Notes is a powerful tool. It works almost like Twitter (X), where you can post short thoughts and updates. This will allow people who don’t know about your publication to find you. Also, you can collaborate with other writers through the ‘Recommendations’ feature.If you recommend another writer to a publication, chances are they’ll recommend your newsletter instead. This way, both writers can share each other’s subscribers, which significantly boosts organic growth.
Social media platforms such as LinkedIn, Twitter, and Instagram should be used not only to share links but also to explain the essence of your article. If you take the best points of your article and post them as a ‘thread’ (thread) and at the end include a Substack link to the complete article, clicks are likely to increase. SEO settings should also be done to get traffic through Google search.Making sure your article title and description on the Substack dashboard are search-engine-friendly will help your article appear when someone searches Google for that topic.
Don’t forget to use ‘Call to Action’ (CTA) buttons in every article. Adding “Subscribe Now” or “Share this post” buttons in the middle or at the end of the article encourages readers to take action. Try converting your free readers into paid members with occasional special offers or discounts. Since WhatsApp is widely used in India, sharing your article on WhatsApp channels or groups will drive quick traffic. By using multiple channels and providing high-quality content, your subscriber base will grow slowly but steadily.
Challenges & Solutions
The first and foremost challenge that writers face on their Substock journey is ‘lack of subscribers in the initial stages’. Many people start enthusiastically and get disappointed if their readership doesn’t grow in the first few weeks. The solution is to promote your content regularly on other social media platforms rather than relying solely on Substock. Also, quality should be prioritised over quantity; if one great article you write goes viral, it will bring in hundreds of new subscribers.
Another issue is converting free readers into paid members (Conversion). For this, the paid content you provide should be useful to them and contain information that they cannot find anywhere else. You can pique their interest by occasionally showing a ‘preview’ of paid content to free readers.
There are also some technical difficulties with payments in India. International card payments can sometimes fail, especially due to RBI regulations. The solution to this is to make appropriate changes to your Stripe settings and provide alternative payment links (such as Co-Fi or Buy Me a Coffee) to your readers. Also, it is natural to get ‘writer’s block’ on Substock.
To overcome this, you should plan a content calendar. There is no shortage of content on writing topics that are based on developments happening around you or questions asked by your readers. Finally, a fear that many people have is ‘privacy and negative comments’. It is natural to receive criticism when writing online, so you should get used to taking it in stride.
Substack has options to moderate comments or delete them if necessary to keep your community clean. If you encounter any technical issues, you can get immediate assistance by contacting the Substock support team. If you can overcome these small hurdles, Substock can be a great career option in the long run.
Conclusion
In conclusion, Substock is not just a writing platform; it is a digital freedom for writers. Given the increasing internet usage in India and readers’ changing tastes in content, the opportunities to earn money through Substock will grow further in the coming days. However, it should be remembered that this is not a way to make lakhs overnight.
All it takes is patience, consistency and respect for your readers. If the content you provide can make a difference in their lives or knowledge, they will happily pay you a subscription fee.
If you have a unique idea or skill right now, take your first step on Substock without delay. The lack of a large investment and minimal technical difficulties are the biggest plus points of this platform. The better you write, the more your brand value will increase. Once your email list starts growing, it will be an asset to you for life. So, stop thinking and publish your first article now!