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I am starting to feel like a broken record, but I feel I have to say this again.
Not all ads are bad.
Advertising makes it possible for those that can't afford subscriptions to still get great information.
Not all ads are bad.
Advertising makes it possible for those that can't afford subscriptions to still get great information.
That's why this story published on @digiday about @substackinc frustrates me. And to be clear, I use Substack, find it a great publishing tool, and I have built something I never thought possible. https://digiday.com/media/how-substack-has-spawned-a-new-class-of-newsletter-entrepreneurs/
One part jumped out to me and it's just easier to share Jarrod's tweet: https://twitter.com/jarroddicker/status/1278315004442234881
If you're running a programmatic, banner advertising business, that's likely true. Those are annoying and when chasing low CPMs, the only way to generate revenue is to just get more people looking at the page.
No one wants to see those popping up on people's sites/newsletters.
No one wants to see those popping up on people's sites/newsletters.
Marketers don't want that either because they don't work. Why do you think Facebook and Google have eaten publisher's lunch? Those ads are just bad products and they're super low on the "ad buying" totem pole.
But let's be clear here...
What @MorningBrew, @TheHustle, @IndustryDive, @Skift and so many other publishers sell is contextually relevant connects audiences with products/services that they might need.
They're not bad ads. They're good ads. They're useful ads.
What @MorningBrew, @TheHustle, @IndustryDive, @Skift and so many other publishers sell is contextually relevant connects audiences with products/services that they might need.
They're not bad ads. They're good ads. They're useful ads.
Not a single one of those publishers are click bait. They serve their audiences efficiently and monetize in a way that allows their readers to get information they need without explicitly charging for every person.
Substack would be smart to open the door to advertising. The type of product that would help creators is not hard and, more importantly, it would create more opportunity for writers to earn money.
Know how I know?
Know how I know?
There are already writers on Substack that sell ads. In that same Digiday story, there's this part about @delia_cai and her newsletter. Her choice of monetization? Classified ads. I saw them. I love them. I bought one for August to promote A Media Operator.
I also sold an advertisement on my newsletter. @AlwaysBeHustlin wanted to promote Trends and I had an audience he thought would be interested. Here's what it looked like. Do you think it's bad?
This is what I want Substack to give us the ability to do. Give us the tools to offer contextual, text-based advertising to our audience. Build out a self-serve system where marketers can choose the days they want and pay with credit card. Stripe is already integrated. Easy.
Some might say, "I don't want ads in my newsletter." Then don't put them in. Substack is empowering the creator, but then at the same time, explicitly telling them how they can or can't monetize their business. How is that empowerment?
Months ago, I wrote a piece about what it would take for me to build a b2b news organization on Substack. The ability to offer ads is one of them. Other product ideas are also here: https://www.amediaoperator.com/p/building-a-media-company-on-substack
Substack works. It's fans love it. And it has made it possible for creators big and small to earn some money.
But digital advertising is worth over $100 billion a year. Why wouldn't we want to pull some of that money away from the platforms and give it to creators?
But digital advertising is worth over $100 billion a year. Why wouldn't we want to pull some of that money away from the platforms and give it to creators?
I don't expect the mantra to change anytime soon (it doesn't need to when Substack raised $15.3m in a round by a16z). But it would do a lot of good for creators. And ultimately, that's the goal, right? Empower creators to build their businesses. Free or paid. /fin
