This is super helpful - thank you. I'm intrigued by newsletters being sold for 5 to 10 times their revenue value - can you give any examples ? Thank you. ps not looking to sell as I've just started but just interested as I didn't know this
I really want to focus on growth for now and it's reassuring to read that building a content business takes time. Given the fact that I am just starting to make it more of a priority in my life, I am still in the microbial stage :D
I have been thinking about the platform element a lot and realised that I was spending way too much time as a (mindless) consumer of a platform I realised I do not want to be using so heavily: Instagram. So I decided to drastically reduce my consumer time there and shift it to over here on Substack. I am still a bit puzzled about a second platform to choose. I love YouTube as well, but for now, it might be too time-consuming doing Susbtack and YouTube. So I might actually incorporate LinkedIn since I realised promoting my newsletters on LinkedIn already got me some traction.
Yap, sorry, should have mentioned that, too. LinkedIn is what I feel could be good for it, but as you do mention in your post: Try to become an expert in these platforms and I definetly need to learn a bit more about LinkedIn and my audience on Linkedin!
To add to what you have said about SEO, it was always meant to be an artificial, stopgap way to rank content until Google figured out a better, more sensible way.
Just because someone follows SEO guidelines like those for heading and alt tags and such, it doesn't mean that their content is good.
However, it is an indirect indicator of quality because if someone has the capability to follow SEO guidelines, which is soul crushing work in my limited experience, it means they may also have the capability to ensure quality content.
But since this can't be guaranteed, we had people misusing SEO to boost bad content.
Another thought I had is around succeeding in two platforms before using a third.
What if success in two platforms takes too long? Would you suggest a certain time beyond which we could ditch a platform to try another?
If the success of a certain platform takes too long, you can do one of two things:
1. Go deeper into studying the platform and figuring out how to make it work.
2. Reconsider the platform all together and change directions.
Does that make sense?
And SEO still makes sense for writing. Using the words people use to search for solutions is smart—just not in a way where you cheat people’s expectations.
In terms of testing time, you need to evaluate against a certain goal. Say, how many subscribers did the platform bring you in a month? Then, you make a decision.
What you're saying validates what I've been doing. I started out on Medium to build a portfolio of my writing. After 6 months, I started creating on Substack to build an email list. This staged growth has worked really well for me so far. Steady growth that's been picking up recently.
As a next step I just signed up for an account on Convert Kit and have created a few basic email course that I offer for free (to build more of an email base). That is just starting to see some life (a 2nd email list).
I do have a question about email lists - in your experience is it acceptable to move your Medium email list across to Substack? I've heard conflicting opinions on this...
My personal opinion is that you shouldn't move your Medium e-mail list to your Substack. The reason: people on Medium subscribe to get your Medium stories, not necessarily everything else your inner circle is getting.
To make the best of Medium, make sure to include a link to your newsletter in your bio and at the end of each article. This way people who want to be your inner circle will subscribe to that rather than the Medium thing.
However, I would advise you to move your ConvertKit subscribers onto Substack and only manage your e-mail marketing from one platform. It's okay to use ConvertKit for the landing pages and the automation, but if you've decided to grow on Substack, then move your e-mails here.
This validates the advice given to me by my brother as well (he's been doing this longer than me). I haven't moved the Convert Kit emails over yet, but I will.
And yes, I have the Substack link already in my Bio and a stock link message at the bottom of each article.
Always great to hear advice from someone more knowledgeable than me, much appreciated.
Thanks for sharing this. I have a 3 questions since being in so new to Substack.
1. When people subscribe, does the email you gave on Substack appear in their inbox?
I’ve been using Convertkit and am in the process of re-branding. I also decided to get rid of my website, so now I just use a gmail. Convertkit says that gmails aren’t the best to use because they can get lost in spam folders.
2. Should I create a gmail for this new brand or can I use my personal gmail I’ve had for years and is Gmail the best to use?
3. How do you transition your email list to Substack? Do you email everyone about moving them over? Just tell them they will be receiving emails from a new email address? What’s the best practice for that?
1. The Welcome e-mail you set up gets sent to subscribers, yes. The name of the sender is (your name) from (your publication), you can change that in settings. Any responses to your emails get sent to the email you used to set up the account.
2. You can use your personal one
3. You export your list and import it here. You could notify them or not: I don’t think how you send your e-mails it’s important to your subscribers.
I get you! I used to brag to my husband that “now at least my writing pays for gas”, “now at least it paid for our yearly vacation,” “now the mortgage”… And now :) well, it pays for much more. Small goals is the way forward though, otherwise you feel overwhelmed and quit. So paying for the mortgage, that’s a great goal to have!
Great points, Maya!
For me, the point of "choosing the best platform for your audience" made a big difference.
I started with X, because all writers are there, and I found a great community there, but my audience of young women is not there.
So I moved to Instagram, and it was a big learning curve and a frightening step to start there.
This move and starting on Substack were the best decisions I've made so far!
That's great, Karina! I've actually been considering IG for a while now. I'm just not great with visual content, but people can learn :)
This is super helpful - thank you. I'm intrigued by newsletters being sold for 5 to 10 times their revenue value - can you give any examples ? Thank you. ps not looking to sell as I've just started but just interested as I didn't know this
Of course. The Hustle newsletter and Morning Brew were purchased for millions. And here’s another story: https://www.linkedin.com/pulse/i-sold-my-newsletter-business-sean-edrington
Thank you
Thank you, Maya!
I really want to focus on growth for now and it's reassuring to read that building a content business takes time. Given the fact that I am just starting to make it more of a priority in my life, I am still in the microbial stage :D
I have been thinking about the platform element a lot and realised that I was spending way too much time as a (mindless) consumer of a platform I realised I do not want to be using so heavily: Instagram. So I decided to drastically reduce my consumer time there and shift it to over here on Substack. I am still a bit puzzled about a second platform to choose. I love YouTube as well, but for now, it might be too time-consuming doing Susbtack and YouTube. So I might actually incorporate LinkedIn since I realised promoting my newsletters on LinkedIn already got me some traction.
If you struggle to choose, think about where your desired audience is. That will help.
Yap, sorry, should have mentioned that, too. LinkedIn is what I feel could be good for it, but as you do mention in your post: Try to become an expert in these platforms and I definetly need to learn a bit more about LinkedIn and my audience on Linkedin!
To add to what you have said about SEO, it was always meant to be an artificial, stopgap way to rank content until Google figured out a better, more sensible way.
Just because someone follows SEO guidelines like those for heading and alt tags and such, it doesn't mean that their content is good.
However, it is an indirect indicator of quality because if someone has the capability to follow SEO guidelines, which is soul crushing work in my limited experience, it means they may also have the capability to ensure quality content.
But since this can't be guaranteed, we had people misusing SEO to boost bad content.
Another thought I had is around succeeding in two platforms before using a third.
What if success in two platforms takes too long? Would you suggest a certain time beyond which we could ditch a platform to try another?
Hey,
If the success of a certain platform takes too long, you can do one of two things:
1. Go deeper into studying the platform and figuring out how to make it work.
2. Reconsider the platform all together and change directions.
Does that make sense?
And SEO still makes sense for writing. Using the words people use to search for solutions is smart—just not in a way where you cheat people’s expectations.
I hope that’s makes sense?
In terms of testing time, you need to evaluate against a certain goal. Say, how many subscribers did the platform bring you in a month? Then, you make a decision.
You are right. I missed the part about using keywords. I focused only on the technical requirements of SEO instead of thinking about the readers.
Hi Maya, thank you for sharing your knowledge.
What you're saying validates what I've been doing. I started out on Medium to build a portfolio of my writing. After 6 months, I started creating on Substack to build an email list. This staged growth has worked really well for me so far. Steady growth that's been picking up recently.
As a next step I just signed up for an account on Convert Kit and have created a few basic email course that I offer for free (to build more of an email base). That is just starting to see some life (a 2nd email list).
I do have a question about email lists - in your experience is it acceptable to move your Medium email list across to Substack? I've heard conflicting opinions on this...
Thanks!
Hi John,
My personal opinion is that you shouldn't move your Medium e-mail list to your Substack. The reason: people on Medium subscribe to get your Medium stories, not necessarily everything else your inner circle is getting.
To make the best of Medium, make sure to include a link to your newsletter in your bio and at the end of each article. This way people who want to be your inner circle will subscribe to that rather than the Medium thing.
However, I would advise you to move your ConvertKit subscribers onto Substack and only manage your e-mail marketing from one platform. It's okay to use ConvertKit for the landing pages and the automation, but if you've decided to grow on Substack, then move your e-mails here.
I hope this helps!
Maya
Thanks for such a quick and detailed reply!
This validates the advice given to me by my brother as well (he's been doing this longer than me). I haven't moved the Convert Kit emails over yet, but I will.
And yes, I have the Substack link already in my Bio and a stock link message at the bottom of each article.
Always great to hear advice from someone more knowledgeable than me, much appreciated.
Of course, I'm here if you have any more questions.
Also can you use that email for other things? Like convert kit and to create social media?
I expect that you can, I use my personal e-mail that I use in multiple platforms.
Thanks for sharing this. I have a 3 questions since being in so new to Substack.
1. When people subscribe, does the email you gave on Substack appear in their inbox?
I’ve been using Convertkit and am in the process of re-branding. I also decided to get rid of my website, so now I just use a gmail. Convertkit says that gmails aren’t the best to use because they can get lost in spam folders.
2. Should I create a gmail for this new brand or can I use my personal gmail I’ve had for years and is Gmail the best to use?
3. How do you transition your email list to Substack? Do you email everyone about moving them over? Just tell them they will be receiving emails from a new email address? What’s the best practice for that?
Hi Lori,
Let me try to answer:
1. The Welcome e-mail you set up gets sent to subscribers, yes. The name of the sender is (your name) from (your publication), you can change that in settings. Any responses to your emails get sent to the email you used to set up the account.
2. You can use your personal one
3. You export your list and import it here. You could notify them or not: I don’t think how you send your e-mails it’s important to your subscribers.
I hope this helps! :)
Oh, nice. Didn’t know that it takes on my name. Thats great! Thank you so much, very helpful!!
Rich would be great, but I’d be pretty over the moon with… paying the mortgage from my writing 😊
I get you! I used to brag to my husband that “now at least my writing pays for gas”, “now at least it paid for our yearly vacation,” “now the mortgage”… And now :) well, it pays for much more. Small goals is the way forward though, otherwise you feel overwhelmed and quit. So paying for the mortgage, that’s a great goal to have!