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The Medium’s real challenge
My comment on the referral program on Medium
A referral program is a good idea, but Medium needs more.
I posted on Medium my first article four years ago and 68 articles after that. I never made any meaningful money here.
I will make no effort to recruit new subscribers; it is not my cup of tea. But if Medium records indicate that some readers decided to subscribe after reading my article, I will accept a commission. If Medium can tell me which of my articles prompted someone to buy, it would be even better.
I do not expect any significant income from this direction. But I will see how my writing builds the community.
A publication on Substack typically charges $10 per month. If someone wants to follow a few, it quickly becomes very expensive. If Medium can offer a comparable quality of writing on a handful of its publications, it is a win-win situation for readers, writers, and Medium investors.
Hence, debating the details of the referral program is futile.
Medium’s ranking on Alexa fell from #76 three months ago to #149 today. The referral program will not address this situation. Retaining readers is the key. And, keeping them reading more is crucial. Medium can do it only by convincing its readers that for $5 per month, they can have access to relevant writing worth at least two Substack publications. The writers are there, and the new ones will come when Medium figures out how to match outstanding writers with readers willing to pay for quality writing.
That is the real challenge for Medium.
