Substack is a popular platform for writers and publishers to create and distribute newsletters. With its user-friendly interface and numerous features, it has become a go-to platform for many content creators. One of these features is Substack Special Offers, which allows publishers to offer discounts and promotions to their subscribers.
Setting up a special offer on Substack is easy and can be done in just a few clicks. Publishers can choose to offer a percentage discount or a free trial period, and set the desired time period for the offer. Special offers can be shared via a customizable link or a button in a post, making it easy for publishers to promote their offers to their audience. With Substack Special Offers, publishers can incentivize potential subscribers to sign up for their newsletter and retain current subscribers by offering exclusive deals.
Special Offers on Substack
Substack offers writers the opportunity to create special offers for their readers, which can be a great way to attract new subscribers and retain existing ones. These special offers can be in the form of discounts, free trials, or other incentives that encourage readers to sign up for a paid subscription.
To set up a special offer on Substack, go to Section 3 of your Settings page and click “Manage Special Offers”. From there, you can create a new special offer by selecting a percentage discount or free trial period and specifying the desired time period. You can then share your special offer with your readers via a customizable link or a button in a post.
Special offers can be a powerful tool for writers looking to grow their audience and increase revenue. By offering readers a discount or free trial, you can encourage them to sign up for a paid subscription and gain access to your exclusive content.
It’s important to note that special offers should be used strategically and not overused. Offering too many discounts or free trials can devalue your content and make it harder to generate revenue in the long run. Instead, use special offers sparingly and strategically to attract new subscribers and reward loyal readers.
How to Access Special Offers
To access special offers on Substack, you need to go to the “Payments” section of your account. Once you are in the “Payments” section, click on the “Special offers” tab. From there, you can manage all your special offers.
To create a new special offer, click on the “Manage special offers” button, then select “New special offer.” You can choose between a percentage discount or a free trial. Fill out the details, such as the special offer name, description, and terms. Once you’re ready, click “Create offer,” and a unique link will be generated.
You can share your special offers with your subscribers via a customizable link or a button in a post. To add a button to your post, find it in the “Buttons” dropdown list in the Substack editor.
It’s important to note that special offers are only available to paid subscribers. Free subscribers will not be able to access them. To convert free subscribers into paid subscribers, you can use special offers strategically. For example, you can offer a limited-time discount to incentivize them to upgrade to a paid subscription.
Benefits of Substack Special Offers
Substack special offers provide a range of benefits for newsletter creators. Here are some of the key benefits:
- Increased Revenue: Offering special promotions and discounts can help attract new subscribers and retain existing ones, resulting in increased revenue for your newsletter. Substack’s self-serve special offers feature allows writers to set up free trials or percentage discounts directly from their dashboard, making it easy to create and manage special offers.
- Flexibility: Substack special offers are highly flexible and can be tailored to meet the specific needs of your newsletter. You can offer broad promotions, such as a 10% discount for the month of June, or more targeted promotions, such as a 20% discount for subscribers who clicked on a specific link.
- Improved Engagement: Special offers can help increase engagement with your newsletter by encouraging readers to interact with your content and share it with others. By offering exclusive discounts or free trials, you can incentivize readers to become more active members of your community.
- Customization: With Substack special offers, you have complete control over the terms and conditions of your promotions. You can choose the type of discount you want to offer, set the duration of the promotion, and customize the messaging to match your brand.
- Automated Promotion: Substack Boost, an early beta feature, automatically shows discounts and special offers to readers at appropriate moments to maximize revenue. This can help you reach a wider audience and attract more subscribers to your newsletter.
By taking advantage of this feature, you can create targeted promotions that resonate with your audience and help your newsletter stand out in a crowded market.
Tips to Maximize Substack Offers
To make the most out of Substack offers and discounts, here are some tips to keep in mind:
- Create compelling offers: Make your offers irresistible by creating a sense of urgency, exclusivity, and value. Use clear and concise language that highlights the benefits of subscribing to your publication. For instance, you can offer a time-limited discount for new subscribers or a free trial for a premium subscription.
- Promote your offers: Spread the word about your offers by using your email list, social media channels, and website. Use eye-catching graphics, banners, and call-to-action buttons to make your offers stand out. Also, consider partnering with other Substack writers or influencers to cross-promote your offers.
- Track your results: Measure the effectiveness of your offers by tracking key metrics such as conversion rates, revenue generated, and subscriber retention. Use this data to refine your offers and improve your marketing strategy over time.
- Offer value beyond discounts: While discounts and special offers are great incentives for new subscribers, don’t forget to provide ongoing value to retain your existing subscribers. Offer exclusive content, early access to new features, and personalized support to keep your subscribers engaged and loyal.
By following these tips, you can maximize the impact of your Substack offers and build a loyal community of subscribers who are eager to support your work.
Potential Drawbacks of Substack Offers
While Substack offers many benefits to writers, there are also some potential drawbacks to consider before signing up for their special offers.
First, Substack takes a percentage of an author’s earnings from subscriptions, typically between 10% and 15%. While this may seem reasonable, it can add up over time and may not be worth it for some writers who are just starting out.
Second, Substack’s offers may not be suitable for all types of writers. For example, if you are a writer who prefers to write in-depth articles or essays, Substack’s newsletter format may not be the best fit for your content. In this case, you may be better off exploring other publishing platforms that cater to long-form writing.
Third, Substack’s offers may not be sustainable in the long run. While the platform has seen tremendous growth in recent years, there is no guarantee that it will continue to be as popular in the future. This means that writers who rely solely on Substack for their income may be putting themselves at risk if the platform falls out of favor with readers.
Future of Substack Special Offers
Substack Special Offers have become an important tool for writers to attract and retain subscribers. As the platform continues to grow and evolve, it is likely that more features will be added to this offering. Here are some potential developments that could shape the future of Substack Special Offers:
- More customization options: Currently, writers can offer percentage discounts and free trials. In the future, Substack may add more options to allow writers to create more complex offers, such as tiered pricing or bundle deals.
- Integration with other services: Substack may explore partnerships with other companies to offer additional perks to subscribers. For example, writers could offer discounts on books or merchandise in collaboration with publishers or e-commerce platforms.
- Data-driven recommendations: As Substack collects more data on subscriber behavior, the platform may be able to offer more targeted recommendations for Special Offers. For example, if a subscriber frequently reads content on a particular topic, they may be more likely to respond to an offer related to that topic.
- Automated Special Offers: Substack Boost is already automating the process of showing discounts and special offers to subscribers. In the future, the platform may be able to create more complex automated offers, such as offering a discount to subscribers who have been inactive for a certain period of time.
Substack Special Offers have become a valuable tool for writers to monetize their content and build a loyal subscriber base. As the platform continues to grow and evolve, it is likely that more features will be added to this offering, allowing writers to create more personalized and effective offers.
Substack Special Offers is a powerful tool that can help writers and publishers grow their audience and increase revenue. By offering discounts, free trials, and other incentives, writers can attract new subscribers and keep existing ones engaged.
I hope you found this guide on what is Substack, useful! If you want to learn more about creating, scaling, and monetizing a Substack newsletter, check out the free content on our blog! If you are still in need of more detailed strategies for making money with Substack, you can also check out my Substack course.