Crowdfunding and Fan Funding Options for YouTube Creators

Crowdfunding and Fan Funding Options for YouTube Creators

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How do you use Patreon, Tubestart, and YouTube Fan Funding (aka the “Tip Jar”) to get your fans to support your YouTube channel? We answer these questions and more this week on ReelSEO TubeTalk: YouTube Video Marketing Tips, with your hosts:

Tip #1: How to Use Patreon for Fan Funded Support

Tim Schmoyer says the most important part of a Patreon campaign is having a vision for why you’re trying to raise funds. You’ll want to describe what you want to do, why you need support, how the funds will be used, and how the Patreon system itself works. You’ll want to make it easy for your viewers by using low-cost perks that encourage people to contribute. Set goals that get fans excited about becoming a patron and increase your conversion. You might be hoping to buy gear, hire a staff, create something specific and so on – make sure you describe that to your fans.

Instead of using Patreon primarily as a way of getting money, instead think of it as a way to engage with the fans who love you most. People are “buying in” to your community, so develop your perks and use your Patreon account accordingly. Incentives might be live hangouts, direct contact and interaction, early-access to content, behind-the-scene photos, personal thanks you messages, and more.

Tip #2: How to Use Tubestart for Crowdfunding Support

Dane Golden says that Tubestart has some of the features of Kickstarter/Inidegogo and Patreon. The site offers four different funding models, so you can choose the one that is best for you:

  1. Subscription Funding: Subscription funding is Tubestart’s most similar service to Patreon. Fans can subscribe with an ongoing monthly subscription project where they acquire ongoing perks as long as they subscribe, or they can buy one-off perks and the creator gets paid upon that transaction. Tubestart’s fee for subscription funding is 4%.
  2. Pledge Funding: Pledge funding is for an ongoing project where backers pledge to pay a certain amount every time creators release a new video, or they can buy one-off perks and creators get paid upon that transaction. Tubestart’s fee for pledge funding is 4%.
  3. Fixed Funding: Fixed funding is for a one-time project running for 30-90 days where creators get paid contributions only if they meet or exceed their contribution goal. Tubestart’s fee for fixed funding is 4%.
  4. Flexible Funding: Flexible funding is for a one-time project running for 30-90 days where creators get paid all money raised as it comes in, even if they fall short of their goal amount. Tubestart’s fee for flexible funding is 4% if creators reach their goal and 8% if they don’t. With this campaign Tubestart charges 8% for all transactions initially, and then if creators reach their goals Tubestart credits the additional 4% to the creator.

On the channel “Let’s Play Willy,” creator William Gardiner of the UK plays Minecraft and is looking to raise £5,000 money via TubeStart. He started four days ago and he’s got £60 so far. Other similar services to Tubestart and Patreon include Subbable, from Hank and John Green, and Paypal Subscribe.

Tip #3: YouTube Fan Funding (“Tip Jar”) For Your Channel

YouTube has started to roll out Fan Funding, also known as the Tip Jar, that is integrated with their system. This is enables fans to give creators a one-time contribution. YouTube charges twenty-one cents plus 5% commission on each transaction, which goes through Google Wallet. You cannot make recurring contribution. This service is rolling out gradually across several countries. If it’s not available to you yet, you can apply to use this service on the “YouTube Fan Funding – Beta Tester Sign Up” page. Here’s a video by Derral Eves on “How to Enable Fan Funding on Your YouTube Channel – Tip Jar”:

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