Why We Pay Writers and the Power of Content Marketing

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Aug 28, 2023
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Why We Pay Writers and the Power of Content Marketing
In the digital age, the internet has revolutionized the world of journalism and content creation. However, it has also disrupted the traditional business model for media companies. This led Substack, a platform for newsletter writers, to create a program called Substack Pro. The program aimed to address the broken business model by absorbing more risk on the writer's behalf, ensuring they get paid for their work. Substack Pro allows writers to have financial security for a year, and in return, Substack keeps 85% of the subscription revenue. After the first year, the writer keeps 90% of the revenue. This approach shows that Substack's success is dependent on the success of its writers.
The Substack Pro program is a business decision rather than an editorial one. Substack does not commission or edit stories, nor do they manage or hire writers. The writers are the owners and write for their own publications. The only requirement Substack asks for is a commitment to a minimum publishing frequency. They assess writers based on their audience size, engagement on social media, and the respect they garner among readers and peers. Additionally, Substack aims to host a diverse array of voices to contribute to healthy discourse.
Content marketing is another avenue for writers and businesses to explore. Priceonomics, a content marketing company, emphasizes the importance of creating content that is valuable and shareable. They believe that content marketing is essentially content that is monetized by selling products. To rank well in Google search results, a website needs both good content and links from other websites. Priceonomics realized that while they couldn't control their search ranking, they could control inbound links. They started a blog and wrote about their pricing data, which led to their success in attracting journalists and readers.
In content marketing, it is crucial to create content that people want to share. This involves understanding why people share content in the first place. People share content to express themselves and to have something interesting to say. Therefore, it is essential to write content that evokes emotions and provides valuable information. The Oatmeal, a comics and comedy writing blog, is an example of a site that understands why people share and seamlessly combines commercial projects with content.
Titles are an important aspect of content creation. They act as a hook to capture the reader's attention and determine whether they click on the article or not. A good title should honestly convey what the article is about and emphasize the point that the writer believes readers will share. Additionally, the tone of the writing should be conversational and engaging. Writers should strive to be right in their arguments and support them with facts and data.
When it comes to content creation, it is important to have a good idea that will resonate with the audience. This requires judgment and reading great content to build one's judgment. Hiring freelancers may not be the best approach in the beginning, as they may not care deeply about the success of the business. It is crucial to find writers who are passionate about the company and can generate unique ideas. The application process should include a writing sample and a list of topic ideas. The writing sample should demonstrate the writer's ability to create interesting and well-written content.
Content marketing should focus on creating valuable information that is not explicitly promotional. The content should be informative and interesting, attracting regular readers. While it is acceptable to have some content that promotes the company's services, the majority of the content should be independent and provide value to the audience. By using their company's data, businesses can create data-driven stories that are both informative and engaging.
In the world of content marketing, great information needs to be packaged into a great story that can spread through various channels. It is not enough to be talented and do a good job; there needs to be a plan in place to ensure the content reaches the intended audience. This involves anticipating how the content will spread and designing it to be shareable.
In conclusion, paying writers and embracing content marketing are two strategies that can lead to success in the digital age. By providing financial security to writers, platforms like Substack Pro can attract talented individuals and ensure a diverse array of voices. Content marketing allows businesses to create valuable and shareable content that attracts an audience and promotes their products or services. However, it is essential to create content that is well-written, interesting, and tailored to the intended audience. With the right approach and a focus on quality, writers and businesses can thrive in the ever-evolving landscape of online content.
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