Should YouTubers make a Patreon Account to Monetise their Videos?
YouTube can be a tough job. Ad rates are not as high as you would expect them to be. Moreover, the income that you receive out of your videos is significantly based on the number of views that your video receives.
Lately, YouTube creators or YouTubers have been facing demonetization issues on the platform. Let us know more about it in detail and how you can still monetize YouTube videos.
For the second time in a matter of less than 1 year, YouTube went forward with changing its policy. The given changes have affected the community of YouTube creators by directly impacting the amount of money they tend to make on the platform. Professional artists and creators should regard themselves as small business entrepreneurs. Therefore, it can be immensely risky for any business to rely on a single source of income. This is wherein the role of Patreon for YouTube creators comes in.
How can Patreon Help YouTube Creators?
Most YouTubers think about making money on the platform for their work without significant efforts. For the creators on YouTube, the AdSense platform of the channel –allowing the owners of the channel to monetize the respective content with ads, is a way of ensuring the monetization. However, monetizing through YouTube comes with its own set of dangers such as copyright strikes. Therefore, the creators keep looking for alternative modes of monetization, and a great option out there is Patreon.
While working as freelancers on low demand due to the pandemic and lockdown situations all across the globe, patrons and creators have flooded the given platform for making up with lost revenues. The platform allows them to ensure direct fundraising from the respective fanbase.
Before you get into the concept of how the users of Patreon can utilize the platform for monetizing content, it is important to understand its meaning in detail. The ad-driven system of AdSense is known to work well for YouTubers – especially for those who tend to have lots of subscribers and views. Still, Patreon serves to be a larger platform for monetization. Any individual making any content type on YouTube – from tutorials to Twitch streamers, musicians, and so more –can make use of the platform of Patreon for monetizing the respective content.
Getting Started with Patreon
You can consider Patreon as a marketplace that ensures the financial connection of the creators with the respective subscribers or fans. For monetizing content on the given platform, the creators are required to offer around 10 percent of the total revenue to the platform. Half of the given amount serves to be the platform fee. On the other hand, the remaining half of the amount is the payment processing fee. It is the fee that Patreon tends to charge out of the creators to handle payments from various patrons.
On a basic level, while the platform might serve to be a marketplace, it is still in its transformative state into a platform for offering new products & services to the creators. The given set of products and services will be aimed at allowing them to better market the respective work. After the creation of content, the users of Patreon are still required to get the word out about their work –usually through social media.
Setting Up a Patreon Account
Before you go ahead with setting up the account on Patreon, it is important to analyze the specific content that you will be creating. Is it overwhelming that your account can help in finding you the paying audience? If the content that you create is unique while keeping the overall quality in mind, then you should indeed go forth with creating the Patreon account. To create top-quality videos for Patreon, you can make use of a feature-rich video editor like Clipchamp.com. It is a leading video editing tool with tons of features to enhance your YouTube videos.
Once you have signed up for an account, you are required to describe yourself as well as the type of work that you will be creating. For instance, video makers and filmmakers are expected to describe the respective work in the form of films or videos that they produce. A short, concise description of the genre or style of work is regarded as ideal.
For instance, a fitness or wellness expert who publishes videos on YouTube would describe the work as per the type of work they implement. Analyze what exactly makes your content unique. You can use the same to build your catchy description.
Like any other Kickstarter platform, the users can also go forward with including a short introduction video. The intro that you include should be capable of describing the creative project for the target audience. At the same time, you can link the respective social media channels to the Patreon profile.
Setting Your Goals on Patreon
Patreon encourages the creators to think in terms of achieving specific monetization goals. One of the easiest ways of achieving the given benchmark is by ensuring the combination of financial & creative goals. Using Patreon, creators are also given a boost concerning clearly stating the given goals to the respective subscribers. This would offer the creators something solid to work upon. At the same time, it will also help the respective patrons to understand why they are signing up for the monthly subscription of the creators.
During the creation of the Patreon account, you should consider preparing a list of specific goals that you would like to share with the end subscribers. For instance, if you happen to be a videographer, then one of your goals on the platform could be generating $2500 for financing new, trendy camera lenses & accessories to ensure the delivery of top-quality videos. When you prepare such a goal, it would ultimately appeal to the subscribers who might be already in the preference of your content. Now, as you will be committing to delivering even better videos, the subscribers would be enlightened.
Patreon can help in monetizing the content with individual releases or monthly subscriptions. Figure out what is the best option for you and work consistently towards it.