Patreon is a relatively new platform, but the low-risk subscription system and opportunity for community interaction that it provides make it an ideal choice for many projects.
Below are some of the best reasons to consider Patreon for a crowdfunded project.
1. Perfect for Ongoing Projects: The “Patreon Tip Jar”
Patreon is an excellent crowdfunding option for anyone working on a long-term or semi-regular project rather than a one-time product.
Rather than delivering content after fans have funded it, Patreon essentially functions as a “tip jar” for the content you are already producing.
For ongoing projects, this system ends up being more consistent and streamlined than other crowdfunding platforms.
2. Community Engagement
Patreon allows for built-in communication with fans and supporters of your projects.
The Patreon interface includes an activity feed where creators and patrons can interact through comments, videos, photos, and more.
Your project page creates a perfect opportunity to expose fans both old and new to your current offerings and upcoming work.
3. Less Risk
Patreon’s crowdfunding model carries less financial risk than most other platforms.
There is no need to worry about funding falling through at the last minute, or losing out on money if funding goals aren’t fully met.
Furthermore, because you aren’t being paid in advance to deliver a product or service, there is no risk of supporters feeling ripped off or disappointed by what you create. The ability to set up your project so that fans pay only after you have delivered content ensures a smoother process with less potential for scams or fan backlash.
Because Patreon is a relative newcomer to the crowdfunding scene, the platform is still experiencing significant growth that translates into larger opportunities for potential content creators.
Patreon has been growing steadily in terms of both launched projects and patron pledges.
While platform growth may eventually stagnate or decline, the current environment is ripe for prospective creators.
5. Diversifies Monetization
Very few independent content creators are able to make a living solely through crowdfunding, but platforms such as Patreon are a perfect way to complement other monetization strategies and diversify your revenue.
Patreon requires little upkeep, no overhead, and less of a time investment than other crowdfunding options.
Patreon is a great way to complement advertising earnings and traditional product releases, allowing you to spend more time creating the content you love.
When it comes to crowdfunding platforms, there are a number of options that each come with their own unique benefits and limitations.
Patreon isn’t perfect for everyone; people who are interested in small, one-time projects or who prefer their funding in a single upfront sum may find other platforms more suitable.
However, if the benefits outlined above align with your project goals, Patreon offers a wonderful opportunity to show your work to the world through the support of fans and patrons of the arts.