Well described comparison of your stacked monetization approach vs „traditional“. Having some of your products I can vouch for the value you‘re adding in your masterclass sessions.
I enjoyed this article. Currently, I don’t feel especially motivated to earn money on Substack, but I like hearing various business models. I find my business is doing well, and my writing supports my other work in a fulfilling way. But it’s helpful to hear your insights and learn from you and others. Thanks.
I think it depends on the context of your membership. Right now our sacred business network is $4.50 for the first year AND it’s not about delivering more content or expertise or coaching. It’s about accessible aligned community. I agree with most of your points AND I feel there is still a place for low cost membership if you are strategically clear as to where it fits into your ecosystem. Love everything you share Wes…hope you can appreciate a slightly different perspective ❤️
I needed to read this today! I have taken so many digital product classes so I get the process but Substack has really thrown me off with all these paid subs. I’ve been asked three times this week if I will do book marketing as a service. Not sure I want to go that route but I do think a digital product and class is in my future! I think it’s easy to get sidetracked by what everyone else is doing. I’m just going to keep steady with my plan and not do paid subs.
Well described comparison of your stacked monetization approach vs „traditional“. Having some of your products I can vouch for the value you‘re adding in your masterclass sessions.
Great point, thanks for sharing!
I enjoyed this article. Currently, I don’t feel especially motivated to earn money on Substack, but I like hearing various business models. I find my business is doing well, and my writing supports my other work in a fulfilling way. But it’s helpful to hear your insights and learn from you and others. Thanks.
I think it depends on the context of your membership. Right now our sacred business network is $4.50 for the first year AND it’s not about delivering more content or expertise or coaching. It’s about accessible aligned community. I agree with most of your points AND I feel there is still a place for low cost membership if you are strategically clear as to where it fits into your ecosystem. Love everything you share Wes…hope you can appreciate a slightly different perspective ❤️
Really interesting
This is everything I encouraged my coaching clients to do with their businesses.
Now I’m here on Substack my paid subscription will be for monthly access to the serialisation of 50 chapters of my memoir From March 6th.
They could buy the book online for £14.99 but not a narrated version (by me) which will be restricted to Substack (for six months).
The reviews are fabulous so I’m reassured of the high value but do I charge £5 or £10 per month.
Paid subscribers also receive all my Newsletters.
The book is “Demons to Champions - How I fell in love with my neurodivergent maverick mind”.
Wes: You have a typo! (Just joking about our previous conversation, but you do have one 😅).
Another one, i saw what you did there with the $37, $47, and $97 product pricing. Clever one! 💡
Great article as always Wes! I always look forward for more. 👏
This really resonates with me 🙏
I needed to read this today! I have taken so many digital product classes so I get the process but Substack has really thrown me off with all these paid subs. I’ve been asked three times this week if I will do book marketing as a service. Not sure I want to go that route but I do think a digital product and class is in my future! I think it’s easy to get sidetracked by what everyone else is doing. I’m just going to keep steady with my plan and not do paid subs.
This is such a wealth of information!