Five ways to monetise your newsletter without paywalls

Not everything needs a monthly subscription!

Did you know that there is more than one way to make money from a newsletter?

Paywalls work for some of us, but they’re not the only option.

If you’d rather keep everything open and free, you can still earn from your writing and audience. In fact, some make far more with these methods than they could with just paid subscriptions.

Today I’ll share five methods you can start with, and in future posts I’ll explore each one in more detail.

Why paid subscriptions don’t work for everyone

Paid subscriptions sound simple, but they come with strings. A paywall means you need to deliver on a schedule, because people are paying you every month. That pressure can be motivating, but it can also turn writing into a grind.

If you’re not careful, what used to be enjoyable becomes another obligation on the to-do list. And the numbers don’t always make it worthwhile.

Let’s say you charge $6 a month. To bring in even a modest $600, you need 100 paying subscribers. Then you lose around 10% to Substack and another 3% to Stripe. That leaves you with about $520, before you’ve accounted for taxes or the hours spent writing.

For many people, that’s not enough to justify the sheer volume of work required - and that’s before factors like self-promotion and marketing.

Subscriptions can work brilliantly for some, but they’re not the only measure of success. Keeping your writing free while exploring other income streams might suit you better.

Online donations

Sometimes the simplest option is the best. Set up a Buy Me a Coffee, Ko-fi, or another tip jar and let readers know they can support your work directly. You’re still giving everything away for free, but you’re giving people the chance to say thanks.

The key is to remind readers that the option exists without turning every post into a begging letter. A short line at the bottom of your emails is enough (a good chance to use a new email header or footer).

You might be surprised how many readers want to chip in, even if it’s just a small amount. I guarantee that more people appreciate your work than you realise!

Sponsorships and advertisements

Sponsors can bring in more than donations, especially if you have an audience that businesses want to reach. A sponsor pays for placement in your newsletter, usually with a short ad or message that they write.

It doesn’t have to look like a billboard; it should fit your style and tone. You can be completely selective about who you work with, too. I run sponsorship slots with the FWN, but have declined offers from businesses I don’t align with.

This approach works best when you choose sponsors that match your audience. A newsletter about travel might partner with luggage brands. A newsletter about parenting might work with educational apps. Keep the fit natural so the ads feel like a recommendation rather than a distraction.

Digital or physical products

Products are a great way to turn attention into income. Digital products could be ebooks, templates, workbooks, or guides. Physical products need more effort, but if you have an idea that suits your audience such as a magazine, prints, or merchandise, they can work too.

Selling products does take extra setup. You’ll need a storefront, some way to handle payments, and a plan to deliver what you sell. Gumroad can work for this, but you’ll need to do lots of your own promotion with it.

But once they’re in place, a single product can keep selling long after you’ve finished writing it. That’s the kind of repeat income many writers wish they had. Essentially, it becomes passive income after a while.

If you have expertise about a specific topic, this could be a great route for you. What do you know lots about? What knowledge do you have in your field that’s worth paying for? You might be surprised by how well this revenue route could work for you.

Online courses

If your readers come to you to learn, courses are a natural next step. A course lets you go deeper than a single post and package your knowledge in a structured way. You can run it live over Zoom, or pre-record lessons and sell them as a bundle.

The benefit of courses is scale. You create the material once, then keep selling it to new students. It’s (quite a bit) more work upfront than most other methods, but the payoff can be much bigger.

And again, it can function like passive income after a while. Once you’ve promoted it here and there, you can leave a note in your footer and let people download it whenever they’d like.

Coaching and consultancy

Some readers don’t just want to read your advice. They want you to work with them directly. That’s where coaching and consultancy come in. Instead of broadcasting to a crowd, you work with individuals or small groups.

This is the most personal form of monetisation, and it can also be the most expensive. People pay for access to your time and expertise, not just your words. If you’re good at solving problems and like one-to-one work, this can be a strong option.

I’ve been running coaching sessions with creators passionate about growing their newsletters, and it’s been hugely enjoyable as well as an additional income stream for my work. If you have the experience to do something like this, even a simple Calendly page is easy to set up.

Want to check out what my coaching sessions look like (or view a straightforward Calendly page)? Hit this link and you can find out.