In answer to a poll...

Elin Petronella put up a poll that answered a lot of questions people have been asking themselves about what makes Substack work, and why can't they make money going paid?

Questions about going PAID…?

The wonderful Elin Petronella wrote an amazing essay in response to a survey she sent out a little while back about going paid. I’d suggest everyone read it, given the chance. It’s enlightening. (Read it here.)

116 people answered 9 questions about Paid Newsletters; FULL REPORT

Bottom line, it’s the quality of the writing that matters, not the quantity.

That’s probably something a great many of us figured out on our own, or maybe we’ve come to realize it as we scroll through the myriad number of ‘Stacks available. People are making money at this, just not me. Go to the leaderboard and take a quick scroll through the top fifty in any of the categories. The top ‘Stacks have paying readers in the 10’s of 1000’s, the single 1000’s and even 100’s.

So what am I doing wrong? I believe my stories are of good quality.

If you don’t know me, it’s understandable. I have a small niche ‘Stack that not many people look at, and that might be the issue. Personally, I don’t think it matters much. At least, not as much as it might, or could, or even should. I came in here with nothing as far as a following goes. I’ve built it up from scratch. I was never a blogger, never had my own webpage to promote. I wasn’t on Instagram, and had a small Twitter following; I had 350 Facebook friends I lost because I updated my Messenger and forgot the password I had for I don’t even know how many years. So I scrapped it and had to start over with Facebook again. I might have 50-60 followers in total so far. (I don’t push it too hard.)

So that’s the extent of my social media. Oh yeah, and I’m on LinkedIn. I post stuff there when I remember. And that’s it. But even with that little bit of effort, I’ve managed to pick up Subscribers. I also have a couple hundred “Followers”. (I’d rather the followers converted to Subscribers, and the Subscribers converted to Paid, but we’ll get to that in a while, if I remember.)

My niche is obviously small. I think it’s something I carved out on my own; I don’t know. I have a PAID section on my ‘Stack though, and that’s where I put up my serial novel (two actually—one’s on hiatus). I don’t pay a lot of attention to the PAID portion of my ‘Stack because it’s so small. I know people offer extra perks with the pay portion of their ‘Stacks, I just offer a chapter a week. I don’t have anything else.

It’s the STORIES that matter most to me. It’s the little niche part of my writing that I want people to read the most. Sure, the serial novels have sex, and violence, and all the stuff that makes for a great bestseller. They have cliff-hanger chapters and good character development, and yada, yada, yada, but it’s the stories I want people to read. In fact, you don’t even have to read them because I read them out myself. That’s right, I read my SUNDAY’S SHORT STORIES AFTER EIGHT, out loud, so you don’t have to.

And why, you ask, would I not put those behind the paywall?

I write Novelettes and Novellas. I have a short story, or two, but even those are probably close to 7,500 words. So there’s not really anything short. I break my novellas up into sections and post them on Sunday nights. My serial novels go out on Wednesday. I treat the paywall differently. I write an introductory piece to begin with. Sometimes I give a synopsis, sometimes I don’t. But I make the introduction something my non-paying readers can read and smile at.

So what’s so different about my stories from everyone else’s? I can’t really say off the top of my head. I write stories that appeal to me, though. I don’t care too much about Political Correctness, or triggers that deal with violence, physical or sexual. Not because I don’t care, but because I never think of what I write as triggering. I write stories that I would want to read. I carefully craft each one and layer them with sights, and sounds, and tastes, and feelings—both emotional and physical. I know, going into a story, that not everything I write is going to appeal to everyone. Nobody is THAT good.

I suppose, if you were to ask me what sort of perks do I offer my paid subscribers, I’d have to say…none. They just get something that is kept separate from the Sunday Night stories. However, I have said that if I get enough paying subscribers, I will print a copy of my stories and send it to my readers.

No takers though, really. I’ve got 19 Paid subscribers, and three of them are Complimentary subscriptions. So, 16. I dropped my price from the usual $50/year, to $30/year. And it’s in CANADIAN funds. That works out to $22 US. $2.50/month…6¢ a day.

Still, no takers.

I don’t let it bother me, though; I’m here for the long haul. I’ve been here for almost two years, and have 478 subscribers — although that goes up and down, just like everyone else. I don’t let that bother me, either.

I’m here to write my stories and that’s it. I look at the numbers, but I don’t worry about them. I look at them and pay attention to them, because it’s important to understand them, so you can see where you’re going. This is a business after all. Not a very successful, or lucrative business, but a business all the same. I’m making $504/year. A little over $40/month. It helps with my retirement. (As if!)

So yes, I’m retired. I just had a birthday this past Monday.

And the questions Elin asked?

Are you paying for any Substacks?

I’m paying out $45/month. Obviously, I’m working at a loss here. I’m bringing in $42/month, and doling out $45/month. (It’s one of the reasons I was a Blue Collar worker all of my life: Buy HIGH, sell LOW!)

And the main reason people pay? The overwhelming response is that the writer adds “value to my day.” That means, people enjoy reading whatever the writer puts out, and they feel he’s worth the investment.

I guess I’m not there yet…?

I’d get pretty down in the dumps if I thought I wasn’t worth the price of admission, though, wouldn’t I? I mean, I’d like it if people read my stuff and thought, Wow, this guy deserves a little boost. (I mean, everything I make here, goes back in to the platform.) And maybe one day I’ll write something someone thinks is worth the price of admission. (I mean, for what I’m asking? I’ve pissed more up against the wall after a night of drinking.)

Apparently it doesn’t matter what community the writer belongs to. If the writing appeals to the reader, he’s willing to make a contribution. I like that. I don’t know why. Maybe it’s because I have my own little community? Not many others are here specifically writing novellas, are they? Sure, I know and follow some writers who write them, but they’re more or less projects they come up with. But the readers say they'll only pay if the content is valuable to them. Again, I guess I don’t hold much value…yet. Give me time.

Most readers seem to stop paying when the writing no longer appeals to them. I perfectly understand that, and promise myself I will do my best not to let that happen.

As for the paywall. It’s pretty-well split as to whether the reader wants it right at the top, or halfway through. I write my paywall differently. Everything outside of the paywall usually has nothing to do with the story. I’ll write and give them my pitch as to why I think they should take a look behind the paywall, and I offer my Print on Demand idea. So far, my ‘conversion’ rate is 4%. At that rate, when I hit 500 subscribers, I should have 20 paid. One more.

An overwhelming percentage want to pay monthly. I offer monthly, but it’s $5/month. I can’t get it any lower. I try to encourage readers to buy the full year. It’s so much cheaper. It works out to $2.50/month if you buy it by the year. It seems that people don’t really care what the discount price is. If they like what they read, they buy it.   

Substack needs this kind of a poll every once in a while. People need to see what works and what doesn’t. I believe what works is what satisfies you. You don’t have a boss looking over your shoulder. You don’t have shareholders demanding their pound of flesh. You only have yourself to blame, or congratulate, if you succeed, or fail. And really, does anyone here fail? You’re writing and doing what you’ve always wanted to do. If you can’t make a living at it, don’t worry. Very few of the really great writers actually made a living writing. So know that you’re in good company, and that you have a ready audience that is in the millions…and growing.