If you’ve spent any amount of time on social media, you know that there are a few winners that get the lion’s share of the attention while the rest may spend time with their smaller audiences, trying to figure out a way to turn that attention into a revenue stream. But other than branded content and working with companies to help pitch their services and products to your audience, there’s not much in the way of money-making opportunities in social media.
However, with the introduction of fan subscriptions, the playing field has been leveled. Now, anyone with any sized audience can offer premium content for a convenient monthly fee. That can help turn the attention of your audience into paying customers, and that can help turn your social media into a real revenue stream. Basically, a fan subscription provides monetization opportunities to those that may not have the audiences to cash in by working with large brands — and that means anyone with an audience can turn that attention into real income.
Why Leverage Fan Subscriptions?
While larger influencers and social media personalities have various opportunities to make money, smaller content creators and streamers depend on their audiences to support their activities. But whether it’s through donations or selling products, it’s not exactly straightforward, nor is your income stream actually directly associated with your social media activities.
But with fan subscriptions, you’ll give eager fans the opportunity to support you and your mission, as well as additional opportunities to connect and provide exclusive content to your most ardent supporters. As a creator, you’ll get a more predictable and flexible revenue stream, as well as the opportunity to tailor your content to your audience, not the audience of another brand.
It’ll also give you the ability to stay true to what it is that you do best, providing the same great content that powers your digital life without having to change who you are to appeal to a wider audience. It’s your niche, why not explore it completely? By offering the opportunity for your fans to support you, you’re giving them a way to sustain your efforts without having to resort to sponsorships and other branded opportunities — and that can help keep you more independent.
For your growing audience, a fan subscription allows you to foster a sense of community. You’ll be able to stay authentic to your brand instead of hitching yourself to something else, and that can make for a more impassioned, more supportive audience.
The Benefits for Supporters
Supporters also get more than they would otherwise, which makes for a better relationship between you and your fans. In addition to being identified as a supporter, they’ll also receive access to the supporter-only content that you can create specifically for them, giving them even more reasons to continue their support.
From exclusive content such as posts, videos and images, you can communicate directly with your best fans, giving them more of what they want and fostering better relationships all around. You’ll also be able to connect privately with your supporters for even more ways to create lasting relationships with those that want to hear and see more from you. For VIPs and other important supporters, you can also provide special discounts and opportunities to purchase merchandise or other products that the rest of your audience won’t have access to.
What Kind of Exclusive Content Should I Create?
The best part about fan subscriptions is that it gives you the freedom to create the content that you want to create, not just what’s popular or what others are doing because you don’t need to be chasing an ever-larger audience — you can monetize your existing one with fan subscriptions. If you want to create short snippets or long-form content that runs for hours, go for it.
Basically, any kind of content that you create, you can lock it behind the subscription paywall, only granting access to your supporters while utilizing public teasers to encourage others to sign up for access. From private Q&A sessions to polls that only your supporters can see, you can increase interactions while earning more money via fan subscriptions.
For your most passionate supporters, consider giving more of a behind-the-scenes look at your life, such as how you get ready for the day or what your decision-making process looks like. It may seem uninteresting to you, but that’s because you’re exposed to your thoughts at all hours of the day. But to your fans, it’s exactly this kind of sneak-peak that they’re looking for, and providing more ways for great interactions will only help when it comes to that revenue stream.
If you have something new coming out, you can offer it first to your fan subscriptions before it’s released, or offer something else entirely that won’t ever be released to the public. If you can dream it, you can likely do it with fan subscriptions, and that means more flexibility in your day to day and your income stream.
What About Payouts?
While the goal may be to increase your fan subscriptions to a point where it can help support your lifestyle, the share of what you actually get to take home is important. After all, a larger percentage of a smaller pie can end up being bigger than a smaller portion of a larger pie, and when you join Loyalfans, you’ll take home 80 percent of everything you sell.
That includes live streams, subscriptions, video store sales and messaging, as well as any other income from the platform. Compared to Facebook and others, which commonly pay out much less, it means that you’ll be taking home more money for the same sized audience on LoyalFans.
Additionally, you’ll also get five percent of purchases and sales from content creators or fans that you refer to the program. If you manage to bring a substantial audience over from another platform, those referral fees can easily spike your income, bringing you more money on a recurring basis without having to do much of anything.
How Can I Create a Fan Subscription?
The good news is that it’s never been easier to create a fan subscription. Just sign up for a content creator account at LoyalFans and your subscription opportunities will be unlocked. From there, all you have to do is mark your next livestream or video for subscribers only, and as your audience signs up you’ll start building that revenue stream. Get started today.