7 Ways To Monetize Your Substack (Without Paid Subscribers)

There's a world of income possibilities beyond charging for your newsletter.

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On Substack, paid subscriptions are often seen as the holy grail of monetization. And yes, paid subscriptions are amazing.

But there's a whole world of monetization possibilities beyond simply charging for your newsletter.

By offering more than just paid subscriptions, you give your audience multiple opportunities to buy from you (and at different price points).

Also, not every subscriber is ready to commit to a recurring subscription, but they might be eager to purchase a one-off product that solves a specific problem.

All in all, setting up multiple streams of income helps you build a more resilient (and profitable) writing business.

So, let's dive into seven different ways you can monetize your audience outside of paid subscriptions.

#1: Digital Databases

Think of a digital database as an organized hub of tools, templates, and resources - all focused on your specific topic.

For example, in my previous business, I built the Peak Performance Database (using Notion), which was priced at $19. This database contains 100+ science-backed productivity techniques, habits, and tools that people can use daily.

(Click here to read how I launched this database in less than 24 hours.)

We also created the Write • Build • Scale Database (priced at $47), which is loaded with over a thousand templates, tools, and strategies for attracting an online audience, writing engaging content, and monetizing your writing.

It's essentially everything online writers need - from a tools and templates perspective - to build a successful online writing business.

If you want to create your digital database, Notion is your best friend.

It lets you build a truly navigable database (not just a static PDF), you can embed videos, include downloadable assets, and customize it to look amazing.

Generally speaking, you'll want to price a digital database between $17 and $50.

So, it’s not going to make you rich, but it’s a great entry-point offer that can turn casual readers into first-time buyers.

#2: Mini-Courses

I'm a huge fan of mini-courses. I practically built my previous business, Peak Productivity, using them.

Mini-courses are pretty easy to create (because you only need to record 1 - 2 hours of video lessons), yet they carry a high perceived value since they're still video courses.

This means you can comfortably price them anywhere from $50 to $100, and sometimes even up to $150 or $200, depending on your topic.

The key to a successful mini-course is that it tackles one very specific problem and helps achieve one clear outcome.

Instead of trying to teach everything about a broad subject like "productivity," a mini-course focuses on a subtopic.

For example:

• Conquering procrastination

• Effective time management

• Optimizing your energy

• Getting into a flow state

• Using AI tools to get more done

• Automating workflows

Each of these subtopics would make for a great mini-course.

When you're brainstorming your mini-course idea, think about a pressing, painful problem your audience constantly struggles with.

Then, think of what specific outcome or result they desperately want but can't achieve because of that pain point.

Your most profitable mini-courses will sit precisely in that sweet spot, positioned as the solution to their challenge.

Want to dive deeper into creating your own profitable mini-course? We've got a free guide that walks you step-by-step through the mini-course creation process.

#3: High-Ticket Coaching

High-ticket coaching is one of the fastest ways to turn your knowledge into income.

When you offer a structured program (rather than just individual calls), you can charge anywhere from $1,000 to $3,000 per client, like we’re doing with our high-ticket coaching programs.

This means you only need a handful of clients each month to bring in a really good income.

All you really need to get started with a high-ticket coaching program is:

• An offer people genuinely want to pay for

• A way to collect payments (like Stripe or PayPal)

• An effective method to let people know about your offer

The most crucial aspect of selling high-ticket coaching is focusing your marketing on the benefits, not just the features.

A lot of coaches get hung up on talking about "you'll get Zoom calls," "an onboarding call," "a workbook," etc. These are all features.

While people need to know the logistics, what they really care about is the outcomes you'll help them achieve.

People buy coaching because they're struggling with something and want a specific result or transformation. They either can't get there alone, or it's taking too long if they do it by themselves.

Your personalized help is what they're paying for. So, make sure your marketing message highlights:

• What problems will you solve for them?

• What specific outcomes will they get?

• What's the overall transformation your coaching brings?

That's the core of what people are willing to pay top dollar for.

#4: Live Cohorts

Think of these as a group coaching program that runs for a set period (for example, 6, 8, or 12 weeks). During that time, you'll work with a group of people, all moving towards a specific, shared outcome.

It's similar to high-ticket coaching in its goal-oriented nature, but the key difference is the group setting.

Instead of one-on-one interactions, you're guiding 5, 10, or even 20+ people simultaneously.

This scalability means you can often lower the price slightly compared to one-on-one coaching, yet potentially make more overall income.

There's one main catch with live cohorts: they're tied to specific dates.

If your potential clients are super busy, traveling, or swamped with work during those particular weeks, they might not be able to join because it demands their live availability. It's less flexible than a self-paced digital product, for example.

Despite that, live cohorts are a fantastic way to monetize your Substack audience.

#5: E-Books

If you've been consistently publishing on Substack (or even on other platforms like Medium) for a few months, you likely already have an e-book ready.

All you need to do is choose a clear topic, gather your best articles on that topic, and combine them into an e-book.

For example, with my productivity business, I created an e-book that was basically a collection of my top 30 - 40 productivity articles that I had already published (on Medium, back then).

I only had to do some editing for it (you can even use AI tools now to speed this up), and my e-book was ready within a few days.

E-books probably won't be your main moneymaker. They typically sell for just $10 to $20 (I sold my productivity e-book for $9).

However, they are an incredible entry-point offer. Their low price makes them an impulsive buy, and people genuinely love e-books.

Here’s why that's so powerful…

Once someone has bought from you, statistics show they are 76% more likely to buy from you again.

That low-ticket e-book acts as a gateway. It turns a casual reader into a paying customer.

From there, they're much more likely to invest in your mini-courses, join a live cohort, or even enroll in your high-ticket coaching program.

That's how you really make bank with an e-book.

Not necessarily from the e-book sales themselves, but from the fact that you've converted a reader into a buyer, who is much more likely to buy from you again.

#6: Digital Templates

Unlike an e-book or a course that gives information, a digital template gives your audience something they can use for implementation.

That's why templates are such an easy sell.

For example, if you help freelancers land new clients, you could sell a proven, word-for-word proposal template that converts.

If you're a copywriter skilled in sales pages, you could offer a fill-in-the-blank sales page template that helps others create high-converting sales pages much faster and more profitably.

If you’re a personal finance expert, you can create a ready-to-use Google Sheet or Excel Template that helps people track income, expenses, and savings goals.

If you’re a career coach, you can offer a collection of professionally designed and formatted resume and cover letter templates that help job seekers stand out.

The power of templates is that they are actionable tools. They make it a no-brainer purchase because they directly enable someone to do something.

Generally speaking, templates sell in the $9 to $37 range. So, similar to e-books, they likely won't be your main cash cow.

However, they are excellent as an order bump, an upsell, or a powerful entry-point offer.

#7: Online Programs

Out of all monetization methods, our online programs (like Substack System and Mini-Course Accelerator) are by far the most profitable ones.

Online programs are a step up from mini-courses because they cover a topic in much greater depth. For example, a mini-course focuses on a very specific topic like ‘How to Write Viral Substack Notes.’

But an online program would be more extensive, and cover a broader topic (like Subtack growth) step-by-step.

For example, in our online program, Substack System, we cover:

• Setting up your publication

• Designing your Substack

• Positioning your newsletter

• Writing viral Notes

• Growing your list of subscribers

• Collaborating with other creators

• Writing engaging long-form posts

• Setting up your paid tier

• Growing your paid subscribers

(Each of these modules could basically be its own mini-course.)

Not only does an online program offer more extensive modules and video lessons, but it also often includes a coaching or community element.

For example, when people join Substack System or Mini-Course Accelerator, they also get 3 months of group coaching calls and community access, so they truly get all the support they need to succeed.

Yes, this is more work. Yes, this requires more of your time and energy. But it also allows you to charge a premium (anywhere between $297 - $1,997).

Which of these monetization methods resonates most with you, or which one are you excited to try first on your Substack? Let me know in the comments below!