Seeking feedback/ideas: What follows is a rough outline of how a team of writers might go about crowdfunding via Substack...
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1. Tell the world you’re doing a Kickstarter-style fundraiser within Substack and they can support you right now. (Tweet, publish Substack post, get press.) 2. Don’t promise rewards. The funding enables a focus on the work itself...
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3. Set a target dollar amount for pre-committed subscriptions. Tell people you'll launch your publication if you cross it. 4. On first day, publish progress reports every 2 hours. 5. In first week, publish daily progress reports.
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6. Use those progress reports to publish different types of content: video, audio, threads, guest editorials. 7. In Week 2, publish the types of stories subscribers can expect. Encourage gift subscriptions.
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8. 48 hr from deadline, intensify messaging on social media. 9. 24 hrs from deadline, publish a dedicated post: “The campaign ends tomorrow, thanks for your support, here’s a reminder of why this is important..”
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Replying to @SubstackInc
tangential idea: what if a newsletter only gets released when there are x new signups? this incentivizes the current subscribers to promote:
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Replying to @joshu
Do you mean a particular post or an entire publication? Good idea either way.
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Replying to @SubstackInc
try both and see what works? i figured it would be like kickstarter stretch goals.
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Replying to @joshu @SubstackInc
another idea is a slowly increasing subscription rate.
@Pinboard used this to great effect1 reply 1 retweet 1 like -
https://news.ycombinator.com/item?id=2302496 contains the formula. each user raised the price by $0.001
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This gimmick (entirely Joshua's idea) got me enormous press attention for free at the time. People also still brag sometimes about getting in at a certain price level
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Replying to @Pinboard @SubstackInc
i would look to
@pinboard's advice as to whether or not it was actually effective. but i am liking the idea of kickstarter-like subscriptions. the first hundred are$x, after that$y, to create demand? i dunno1 reply 0 retweets 1 like -
lots of fascinating potential in this
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