Substack Affiliate Marketing: Is It Worth the Risk? A Deep Dive for Creators
Is affiliate marketing on Substack worth the risk? Discover the pros, cons, and expert tips every creator must know before adding affiliate links.
If you're a creator on Substack or considering launching a newsletter, chances are you've thought about monetizing it. One increasingly popular method is affiliate marketing. But is Substack affiliate marketing really worth it, or could it do more harm than good? In this deep dive, we’ll uncover the benefits, risks, case studies, and best practices you need to know before diving in.
What Is Substack Affiliate Marketing?
Affiliate marketing is when you promote a product or service and earn a commission for every sale or action taken through your unique referral link.
On Substack, affiliate marketing typically means placing these referral links inside your:
Newsletter issues
Welcome emails
Special reports or subscriber-only content
Unlike traditional blogs, newsletters are more personal and often have higher open rates, which can make affiliate marketing a lucrative opportunity—if done right.
Why More Creators Are Trying Affiliate Links on Substack
The creator economy is booming, and Substack has become a go-to platform for writers seeking to monetize their content. Affiliate marketing offers several perks:
Passive income: Once a newsletter is sent, affiliate links continue to generate commissions as readers revisit or share the content.
Low startup cost: No product creation, customer service, or inventory needed.
Aligned with reader interests: If your niche is clearly defined, relevant affiliate offers can be a natural extension of your content.
Ownership and control: Unlike social media algorithms, you own your email list.
Given these advantages, it’s no surprise many creators are testing affiliate links in their newsletters.
The Benefits: Why It Could Work
Let’s dig deeper into the upside.
1. Built-in Trust Factor
Email subscribers generally trust you more than casual blog or social media followers. When you recommend something, it feels more like a friendly tip than a sales pitch—especially in a personal newsletter.
2. High Engagement = Higher Conversions
Substack newsletters often have high open and click-through rates. If your email gets read, your affiliate links are more likely to get clicked.
3. Focused Niche = Relevant Offers
A niche newsletter with affiliate products that match your readers' pain points or goals can outperform broader affiliate strategies.
4. No Platform Commission (for Now)
Substack doesn’t currently take a cut of your affiliate earnings, giving you full revenue potential.
The Risks: What Could Go Wrong?
Affiliate marketing sounds great on paper, but there are several risks to consider on Substack.
1. Loss of Reader Trust
Your audience joined your list for your insights, not sales pitches. Overloading your emails with affiliate links—especially unrelated ones—can erode trust and drive unsubscribes.
2. Substack's Terms and Platform Ambiguity
While Substack does not ban affiliate links, its terms and community guidelines can evolve. Too much commercial promotion could violate emerging platform norms or lead to reader backlash.
3. Email Deliverability Challenges
If your newsletter looks overly promotional, it could get flagged by spam filters. This reduces open rates and impacts your overall reputation as a sender.
4. FTC Disclosure Requirements
In the U.S. and other jurisdictions, affiliate links require clear disclosure. Failure to disclose properly can result in legal consequences and damage to your brand.
5. Poor Fit = Poor Results
Even if you’re transparent, promoting the wrong offer—one your readers don’t care about—can hurt your credibility and click-through rates.
Real-Life Case Studies from Substack Creators
Case Study #1: The Strategist Newsletter
A niche Substack focused on productivity tools integrated affiliate links subtly in tool reviews. With strong transparency and clear value, they reported a 5% click-through rate and meaningful commissions.
What Worked:
Highly relevant product tie-ins
Helpful content-first structure
Clear disclosures
Case Study #2: Health Tips Weekly
This health-focused newsletter used too many affiliate links too quickly. The creator saw a 20% spike in unsubscribes after three promotional issues.
What Went Wrong:
Too many links, too soon
Little context or personal experience shared
No clear disclosure
Substack’s Policy on Affiliate Marketing
Currently, Substack allows affiliate links, but with a few caveats:
You must comply with all applicable laws, including FTC guidelines.
You should disclose affiliate relationships clearly and prominently.
Avoid turning your newsletter into a pure sales funnel—Substack emphasizes the importance of editorial integrity.
If Substack updates its policy, you’ll likely find the changes on their official policy page.
Best Practices to Safely Use Affiliate Links on Substack
To avoid risks and maximize reward, follow these best practices:
1. Lead With Value
Make sure every email provides genuine value. Affiliate links should be secondary to the main lesson, insight, or recommendation.
2. Choose Offers Strategically
Only promote products or services you’ve tried, trust, and that align perfectly with your audience’s needs.
3. Be Transparent
Use clear language like
"This post contains affiliate links, which means I may earn a commission if you make a purchase."
Place disclosures at the top or near the first link.
4. Track Performance
Use tools like Bitly or UTM codes to track link clicks and conversions. This helps you identify which links are working.
5. Test Soft Promotions
Rather than hard-sell emails, consider:
Product reviews
Case studies
Comparison posts
"Favorite tools of the month" roundups
These naturally invite affiliate links while keeping the content focused on value.
Final Verdict: Is Substack Affiliate Marketing Worth It?
✅ Who Should Consider It?
Experienced newsletter writers with a loyal niche audience
Creators already using affiliate marketing on other platforms
Writers with firsthand product experience
❌ Who Should Be Cautious?
New Substack users with no established trust
General-topic newsletters without a clear niche
Creators tempted to spam every issue with links
Summary:
Substack affiliate marketing can work—but it’s not a plug-and-play strategy. You must balance promotion with authenticity, comply with legal requirements, and always prioritize the reader relationship above commissions.
FAQs
Can you use affiliate links on Substack?
Yes, Substack allows affiliate links. Just make sure to include proper FTC disclosures and ensure that your promotions add value to your readers.
Is affiliate marketing effective on Substack newsletters?
It can be highly effective when paired with a relevant niche and a warm, trusting audience. Generic affiliate promos won’t work well.
What are the risks of affiliate marketing on Substack?
Potential risks include audience backlash, lower deliverability, Substack policy changes, and legal issues if you don’t disclose properly.
How do I disclose affiliate links on Substack?
Use clear disclaimers near your affiliate links or at the beginning of your emails. Phrases like "I may earn a commission" are recommended.
Should new Substack creators use affiliate marketing?
It’s best for new creators to focus on building trust and delivering consistent value before incorporating affiliate promotions.
Final Thoughts
Affiliate marketing on Substack isn’t a silver bullet—but for strategic, value-driven creators, it can become a powerful source of passive income. Just remember: readers first, revenue second.
Ready to discover strategies for reaching $10,000 per month? Click here to watch my FREE video training and learn the steps you can take today!
✅ About the Author: Stephon Anderson
I'm a seasoned affiliate marketer dedicated to helping you achieve massive success with proven strategies, ethical practices, and real-world results. I share actionable tips to grow your audience, boost conversions, and build lasting authority online.