Welcome to the Creative Funding Show, a podcast for authors, YouTubers, and podcasters who want to fund the work they love. I’m Thomas Umstattd Jr., your fellow companion on the journey of making money doing the creative work you love, whether that’s video, audio, or the written word.
In this episode, we’re going to talk about how to break past the Patreon plateau. If you feel like your Patreon has stalled, where new backers are being offset by canceled pledges, this episode is for you.
Patreon CEO Jack Conte recently shared research during a Hang Time session, and I was there. Today, I’ll share some highlights from that research and offer some of my own insights along the way.
What was the research about?
Patreon analyzed campaign data to determine what successful creators did to break past plateaus. This wasn’t a manual study; it was computer-driven data analysis. While that has its pros and cons, the findings were valuable, and I’m excited to share them with you.
What strategies helped creators grow their Patreon?
1. Revamp your tiers and benefits.
The number one factor linked to increased patronage was updating reward tiers. Many creators are hesitant to make changes, fearing backlash, but I’ve never seen evidence that people get upset when you adjust tiers. In fact, feedback shows the opposite. People like it when you change things up based on their input.
There’s a saying in business, “The system you have is perfectly designed to give you the results you’re getting.” If your reward tiers aren’t attracting new patrons, they’re doing exactly what they were built to do: not attract new patrons.
Keep in mind, improving your tiers doesn’t always mean adding more content. Sometimes it means removing perks that no one values. For example, on the Novel Marketing Patreon page, we offered access to a free monthly resource. It’s great for email list building, but our patrons didn’t care about it.
Track what resonates. Remove what doesn’t. Remember that some people back you just to support your work. Others are only there for the rewards.
2. Use more locked posts.
The second tactic that moved the needle was increasing the number of locked posts. Locked posts are posts that are only visible to paying patrons. They are highly motivating, especially to non-patrons or lower-tier patrons who feel like they’re missing out.
Since hearing this advice, I’ve increased the number of locked posts I publish, and guess what? My patronage has gone up.
You can also add teaser text to locked posts. This is visible to everyone and helps create curiosity. So if only $2-and-up patrons can access the post, use the teaser to show what they’re missing.
3. Offer limited-time promotions.
The third strategy, which I’ve seen work in my own experience, is offering a limited-time deal. People procrastinate, and urgency helps take action. But to be effective, the offer must be authentic and not gimmicky.
One great example Jack shared was from his wife, a musician. When she launched a solo album, she offered to include the names of anyone who became a patron before the end of the month in the CD booklet. This wasn’t a gimmick because the CDs were going to press, and the deadline was real.
This type of offer creates urgency and relevance. You can use the same concept by saying, “Be featured in my next album, video, or book if you become a patron by [date].”
We tried this on the Novel Marketing Patreon by offering a $50 discount on our Book Launch Blueprint course to patrons. That discount was only available for a limited time, and it worked. Patronage spiked. Most people signed up to get the discount, and we’ll see how many stick around. Even if some drop off, others are likely to upgrade from the $2 to the $5 tier, which is our sweet spot.
4. Personalize your appreciation.
But how do you keep patrons?