Finding that balance takes some experimenting. I think it's important to give visitors enough value to understand what the publication offers before asking them to subscribe. The way the offer is presented matters too. I recently stumbled across
subscription and revenue resources that discuss engagement and how publishers can improve their subscription processes through Piano. One thing I'd recommend is reviewing where the paywall appears and whether the next steps are clear. On a project I followed, even changing the wording around a membership offer made the whole process easier to understand.