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Because of the corona outbreak, I'm stuck at home (as I'm sure lots of you are) and I decided to start a nonprofit online literary magazine dedicated to providing a platform for marginalized voices. However, I'm not completely sure how to establish a reader base and also encourage submissions for issues. Does anybody have any ideas/tips?

wetcircuit
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If you have an existing social media following you could start there to promote it and ask everyone to get the word out.

A prime way would be to reach out to other small literary journals and strike up a dialog, and see if you can ally with them in some way that they would promote your submissions. Writers like to write and be seen, so reaching out might be effective - especially right now!