Using Patreon To Monetise Your Fanbase -- $100k Per Month?!

Feb '23 (edited) in 🗣️ General discussion

Hey BMN, a couple of days ago I attended a workshop with Kristine Mirelle, CEO of Music Hustlers. She gave a talk about launching a "Continuity Program" to monetise your audience. Basically she showed how you can easily register for and launch a Patreon account with a $1, $5 and $10 level to get you started in earning recurring income from your audience. She showed plenty of exampled of producers, artists and musicians who used that same model to successfully generate anywhere between $1000 and $100,000 dollars each month 😮, based on the sizes of their fanbases and the pricing of their offers.

💰🤑Some examples had upwards of 6 tiers of offers ranging from $1 per month all the way up to $250 per month. It really got me thinking more about the "1000 fan theory". The one that basically states that if you had 1000 people willing to spend $100 with you each year, then you'd be making $100,000 annually. I mean dang if I get 50 - 100 people willing to pay $10/month for something I can consistently deliver, then that's $500 - $1000 I would be earning. Money I didn't previously have.

Kristine also made the point that Patreon was a good starting platform but since it does take like 10% of your earnings 👀 , that she would recommend using a funnel builder like ClickFunnels because its a fixed monthly cost and it's way more powerful in terms of features and cost efficient. Luckily I'm already the user of a ClickFunnels alternative called Fan Nurture. So, in true action taker fashion, I went ahead a built my own "Continuity Program" https://blessupmusic.com 🙏🏾

I also made a bunch custom invitations (See Attachment) that i'll be sending to my most engaged fans in order to try to jump start some conversions. I believe that this new funnel will be a great segway into my high ticket offer of custom songs later on. I'll keep you guys up to date with how it goes.

Anyone else willing to try this? Does anyone already use patreon or an alternative to get recurring revenue?

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