Have you thought of monetizing your creative gig with Patreon?
What about launching a Kickstarter campaign?
These are two VERY different crowdfunding websites that you can use to earn money for your passion.
You can use them effectively to monetize a crowd – but the question is, which is better for YOU?
Today, I want to share a YouTube video that I put together that will answer this exact question! We’ll explore the similarities and differences between these two sites.
Not only will I cover the pros and cons, but by the end of this video, you’ll have a crystal clear idea which is the best for you and your project.
Question, did you find the vid to be helpful?
Did it share valuable information that will help you going forward?
If so, and you want more content like this you can subscribe to my YouTube channel here.
I regularly put out helpful educational vids that share key concepts related to crowdfunding. That could be how to launch a better campaign or which site is best for you.
While I have you here, let me ask you a question… would you rather have a “big funding pot” or a series of “recurring donations?”
1. A big funding pot vs. recurring donations
This is basically the ultimatum when you’re deciding between Kickstarter and Patreon. With a Kickstarter campaign, you’re setting a large funding goal and over time, hitting or surpassing it.
After you have a successful campaign, you then take that money, go out there, and execute on your project. You build it and then ship out the rewards.
While some entrepreneurs can launch multiple Kickstarters within a year, rarely is it more than 3 or 4. More likely it’s like 1 or at most 2 per year.
You’re getting a “big funding pot” all at once and then using that money to mass produce your prototype.
With Patreon, you’re not raising as much money but you’re getting it in the form of recurring donations. Every month, people’s credit cards are being charged and that money is going towards your work.
Naturally, this has benefits and drawbacks. I cover all of this in the video.
2. Frequency of creation…
How often are you putting things into the world?
Are you launching ONE product per year and having to design, manufacture, and produce it?
Or… are you a blogger or podcaster like ME and producing mini episodes, shows, or products on a regular basis?
Depending on your frequency of creation, one of these websites is going to be a better fit for you than the other. I reveal which in this video. You’ll know which is a better fit for you.
It’s important to study your frequency of creation because that also determines your costs throughout a year. Knowing your costs allows you to develop a revenue model that meets your needs.
Lastly, this “frequency” influences the relationship that you have with your followers, fans, or customers. If you’re always creating products or content, then you’re going to have a different community than one that rallies a once-per-year product launch.
Actually, I discovered a ton of tricks that can help you earn recurring income from Patreon using subscription crowdfunding. This is dependable, repeat income to fuel your craft. You can really turn your passion into profit. You can learn more about the Patreon tricks I’ve discovered here.
3. Marketing strategy…
Finally, the above two points will impact your marketing strategy. This way that you go out there and promote your crowdfunding campaign.
Not only is the marketing strategy different between Kickstarter and Patreon, but the value proposition is also different. Not realizing this will turn into a costly mistake.
You can learn more about the similarities and differences here. Also, let me know what you think of the vid.
Marketing is a big word. All that it means is “warming people up” to what you’re doing, why they should care, and stimulating those emotions that make them want to get involved.
Which is Best for You?
Now.. my video was meant to compare Kickstarter and Patreon and decide which is best for your individual case.
However, that being said, there is also an alternative functionality to Kickstarter that’s referred to as “Drip.” Drip is basically Kickstarter’s attempt to create a marketplace that is similar to Patreon. It costs recurring giving.
I’ve put together an article for you that compares Drip and Patreon. This article goes into the candid differences and similarities between the two. I hope you enjoy it.
Ultimately, only you can make the decision as to which site is gonna help you and your business more. By the end of watching the video, you should have a pretty clear idea as so the pros and cons of each.
The one thing that I will say before I send you off is that education is KING.
The more you know, the more you can grow (and at a much faster rate). You gotta get educated. Start watching some of my other vids. Join the newsletter down below. A lot of my work is free.
This way, when you do launch, you’ll be able to stay clear of all the major pitfalls, use techniques that work to raise funds, and hopefully surpass your fundraising goal!
Actually, I discovered a ton of tricks that can help you earn recurring income from Patreon using subscription crowdfunding. This is dependable, repeat income to fuel your craft. You can really turn your passion into profit. You can learn more about the Patreon tricks I’ve discovered here.
