Impressions Don't Pay the Bills

A Substack guide to the social media hungry

Photo by Karsten Winegeart on Unsplash

Hey All,

I’ve been thinking more about our social media strategy as Creators on Substack. From talking to different people and seeing what works for them, a few things have stood out that you also might find useful.

This is not so much from Substack Grow, as it is from talking to people one on one on LinkedIn and Discord.

Walled Gardens Don’t Care About You

Social media channels are like walled gardens that aim to keep you on their app and ecosystem. The algorithms are usually designed not to help you bring traffic from elsewhere to your Newsletter. Many of these platforms don’t have an audience that are likely to enter paid content from a Newsletter source.

While some networks are great for impressions like Instagram, Reddit, Twitter (only if your following is significant) or TikTok (with some effort), what networks provide the highest click-through-rate (CTRs).

I’ve worked in marketing and typically you want to find a network that resonates with your niche that is most likely to have your high-value target audience. If monetization of your Substack is a priority, this means high-value CTRs that have a higher chance of subscribing.

With Microsoft promoting the “Creator Economy” now via LinkedIn Learning and Linkedin Audio events, for may Substack writers the best “mean” value of time spent will be LinkedIn in 2022.

Twitter is Not Mainstream, It’s Niche

While Twitter can work great for some niches like Politics, investing and Finance, even some of the best writers on Substack have complained to me about how terrible the CTR is on Twitter. People with easily well over 50,000 followers.

On LinkedIn you can make listicle posts, polls, Newsletters, Newsletter articles and other kinds of content. A LinkedIn post (listicle format) can work a bit like a Twitter thread, it can boost interest around your niche.

Another high-value approach to boosting conversion from free to paid is creating communities that intersect, but aren’t all about your topic. Discord, Facebook Groups (even multiple), Subreddits, Telegrams, WhatsApp Communities, here you are a “community manager” stimulating dialogue and curating interest in your niche and on themes relating to it. This is high-value traffic that targeted with a higher chance of paid conversion.

If you don’t write about politics, investing, finance, crypto or something academic, I would pretty much avoid Twitter.

Photo by Greg Bulla on Unsplash

My Case for LinkedIn

Since the most successful Substack writers have a niche audience that’s high-value reading, approaching social media strategically knowing where to spend your time for the highest ROI is valuable. LinkedIn due to an infusion of “Creator Economy” investment by Microsoft in the form of dozens of “Creator Managers” is pivoting to a channel where it’s not just about dry business. It’s also an inspirational and positivity-plus culture.

Substack Newsletters with inspirational, entertainment and soul-nourishing qualities can also find success on Instagram, TikTok and more “top-of-the-funnel” channels like YouTube Shorts. But for conversion, you want to think of:

• High native CTR platforms

• High conversion channels (LinkedIn + Community Moderation)

I could in theory have a huge Twitter, Instagram or TikTok following and fail to convert them to paid Subscribers.

While Substack as a platform covets Twitter influencers, you will notice that they don’t always scale well. Why do you suppose that is?

This is simply because those channels have lower native click through rates, and demographics that may be less likely to even become free subscribers.

Let’s be honest, a fair number of Twitter, Reddit or TikTok people are more likely to troll your content than convert to being a paid subscriber.

Photo by Timothy Eberly on Unsplash

Covet Niches that Align with your Niche

While I don’t have a ton of experience parading myself in a million different directions, I do think building relationships on niche channels could be super valuable if you find Platforms that tether to your topic exceptional well.

If your find your right audience, they will easily be free subscribers and even immediately become paid subscribers as they walk in the door.

Niches that come to mind:

• Podcasting! (much higher conversion rate if an active listener)

• Reddit

• Pinterest

• Snap

• Instagram (hashtags)

• TikTok (hashtags)

• Facebook Groups

• Hacker News

• Product Hunt

• A viral Tweet (Now I’m not recommending you try to replicate this)

• Medium

• Twitch

• Flipboard (apply to be a publisher)

• TikTok Live (need 1,000 followers)

• Instagram Reels/YouTube Shorts

• Ads targeting your niche really well

What other niches do you recommend?

So all in all, spending 50% of your marketing time on the highest ROI channel for you, is probably the safe route here. Due to the absurdly high click-through-rate for a lot of Newsletter writers, this is actually LinkedIn, you just haven’t realized it yet.

A few of us in our non-fiction Substack group are fiddling with LinkedIn, with promising results. We are mostly business folk or entpreneurs and no matter if you are a comedian or a digital nomad, LinkedIn somehow hits all the right buttons.

• Global traffic

• Older more financially established audiences

• Genuinely curious people

• Professions of all kinds that can find value in your content

• An audience that’s skewed to Sales, technology, and C-executives that aren’t themselves staving artists (always a plus!).

What is Mobile Telling us?

Shorter attention spans and less clicks from social are telling us that video is becoming more dominant on mobile, as compared to the written word. This means it’s essential as writer that we branch out into:

• Community Development (Substack Network is an example of this)

• Podcasting

• Video

• Interviews

• Building sustainable traction with audiences

• Establishing lead-funnels from the best social media sources in our niche

Key Takeaways

1. Study CTR per channel

2. Study your paid audience (Google their Emails)

3. Know your niche

4. Spend your marketing time wisely

5. If you are an early-stage creator, focus on growth (free subs a day)

6. Build high-value closed communities for your target audience (even multiple)

7. Identity high ROI channels, then spend more time on those.

8. See what has worked for other Newsletter writers in your niche, do it better. (sometimes this means talking to them)

Anyways guys I’m sure you all know this already, it’s just common sense. But for my own situation as an early-stage Creator, I thought I’d counsel myself again. Since my own behavior doesn’t always align with my perceived internal common sense! Maybe you know the feeling….

Thanks for Reading.

IT’S THE CLICK THROUGH RATE, STUPID!

If you got anything from this Newsletter post, Tl;dr it’s that the click-through-rate matters, not vanity metrics of the impressions. Because getting more free subscribers of the right kind that discover you, increases the chances that they will get the support that enables you to build something you love.

If you want to keep it simple (KISS), go for the low hang fruit of the highest value CTR. Don’t waste too much time on social media.

So all in all, spending 50% of your marketing time on the highest ROI channel for you, is probably the safe route here.

Try to spend some time on the top and bottom of your funnel, but always be mindful that you aren’t paying the bills chasing impressions or followers on another platform.

Gamify your Substack but don’t be gamified by social media distractions.

What are your observations?