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1000 True Fans? Try 100

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Re: 1000 True Fans? Try 100

#21

Post by [deleted] »

quaunaut wrote: post #4
Proziam wrote: post #3

IIRC the 1k true fans idea was walked back by its original author after they got feedback from industry folks describing how the model was basically impossible to implement in the real world. This holds 100% true to my experience in influencer marketing and esports. Monetizing fans is really hard on passion alone. You need to create valuable calls to action and continuously produce content in order to maintain their…

Isn't this largely what Patreon is, though? And there's a lot of people who are doing surprisingly well off of Patreon despite low subscriber counts. I'd think the trick is to find the right niche- if you're too generic, you're up against the big personalities.

[deleted]

Re: 1000 True Fans? Try 100

#22

Post by Iv »

acd10j wrote: post #6

Taking this to extreme :) 100 True Fans ? try 1 Internet has enabled visibility so you need to only find one true fan who is willing to sponsor you 100,000 per year.

Also called "a job"

Re: 1000 True Fans? Try 100

#24

Post by [deleted] »

sytelus wrote: post #19
busterarm wrote: post #17

Earlier quoted context omitted.

Do both instead. Do something where you can offer tiers. Group lessons (100/yr subscribers) vs Individualized (1000/yr).

I'd suggest not doing tiers. Segmentation is repulsive. Why do I ever want to be a bronze-level customer in your product world? It perhaps makes sense for products that have monopolized or established firmly or where costs are truely substantial as feature/utilization is increased. However, most likely is often the side effect of throwing in the MBA part of your brain to squeeze in that last bit of revenue juice with…

[deleted]

Re: 1000 True Fans? Try 100

#25

Post by stingraycharles »

sytelus wrote: post #19
busterarm wrote: post #17

Earlier quoted context omitted.

Do both instead. Do something where you can offer tiers. Group lessons (100/yr subscribers) vs Individualized (1000/yr).

I'd suggest not doing tiers. Segmentation is repulsive. Why do I ever want to be a bronze-level customer in your product world? It perhaps makes sense for products that have monopolized or established firmly or where costs are truely substantial as feature/utilization is increased. However, most likely is often the side effect of throwing in the MBA part of your brain to squeeze in that last bit of revenue juice with…

Different price tiers are a completely normal thing. Put another way, why would I have to buy the premium package when all I want is much more simple?

Trying to make all your customers fit just one single pricing model is bad for business.

Re: 1000 True Fans? Try 100

#26

Post by aj-4 »

Proziam wrote: post #3

IIRC the 1k true fans idea was walked back by its original author after they got feedback from industry folks describing how the model was basically impossible to implement in the real world. This holds 100% true to my experience in influencer marketing and esports. Monetizing fans is really hard on passion alone. You need to create valuable calls to action and continuously produce content in order to maintain their…

I don't think Ninja is a particularly good example because (1) he is operating at a scale where the normal rules don't apply (2) his rise was equally fast and volatile (3) twitch requires a constant presence more than other content platforms.

Furthermore I read your take, and maybe I'm wrong, as a 1k "fans" and not 1k "true fans"

The "true fans" model is a subset within the larger audience demographic -- they don't care if you stop producing for a while, need their short attention spans pandered too, or the like, this is what makes them "true" fans.

maybe your advice changed their life, or they really resonate with you for some personal reasons -- and again this would only be a sub-set of a creator's total fan base.

At least this is my interpretation of the concept.

Re: 1000 True Fans? Try 100

#27

Post by redis_mlc »

Proziam wrote: post #9
quaunaut wrote: post #4

Earlier quoted context omitted.

Isn't this largely what Patreon is, though? And there's a lot of people who are doing surprisingly well off of Patreon despite low subscriber counts. I'd think the trick is to find the right niche- if you're too generic, you're up against the big personalities.

Patreon is quite a bit of work and requires constant upkeep to maintain a steady income flow. It's really no different from Twitch subscriptions in that regard. It does a better job of monetizing primarily because of the easily customized tiers, and secondarily because the platform specifically caters to paid content rather than free. That said, many of patreon's most financially successful users are producing conten…

I commented in detail on this a few months ago ...

What Proziam wrote is a little off, at least as far as music goes.

Hundreds of musicians/music vloggers are working full-time from Patreon/Adsense once they exceed 100,000 Youtube subscribers and upload weekly/biweekly and have 100+ Patrons.

Patreon produces a reliable income stream (for rent, etc.) while Adsense fluctuates but adds up ($1,000 - $5,000/million views typically.)

What I have heard with Twitch is that you need to be online continuously or the audience moves on.

> IIRC the 1k true fans idea was walked back by its original author

That was from a time decades ago when customer acquisition was expensive. With Youtube/Adsense it's not that hard, and one could experiment with Facebook targeting.

And any time somebody uses the phrase "walked back", I've found the author didn't have a nuanced understanding of the subject.

Re: 1000 True Fans? Try 100

#28

Post by aj-4 »

sytelus wrote: post #19
busterarm wrote: post #17

Earlier quoted context omitted.

Do both instead. Do something where you can offer tiers. Group lessons (100/yr subscribers) vs Individualized (1000/yr).

I'd suggest not doing tiers. Segmentation is repulsive. Why do I ever want to be a bronze-level customer in your product world? It perhaps makes sense for products that have monopolized or established firmly or where costs are truely substantial as feature/utilization is increased. However, most likely is often the side effect of throwing in the MBA part of your brain to squeeze in that last bit of revenue juice with…

"Segmentation is repulsive" -- this makes no sense as a blanket statement without product context.

Re: 1000 True Fans? Try 100

#30

Post by Kiro »

sytelus wrote: post #19
busterarm wrote: post #17

Earlier quoted context omitted.

Do both instead. Do something where you can offer tiers. Group lessons (100/yr subscribers) vs Individualized (1000/yr).

I'd suggest not doing tiers. Segmentation is repulsive. Why do I ever want to be a bronze-level customer in your product world? It perhaps makes sense for products that have monopolized or established firmly or where costs are truely substantial as feature/utilization is increased. However, most likely is often the side effect of throwing in the MBA part of your brain to squeeze in that last bit of revenue juice with…

Tiers have worked out amazingly on Patreon. It's monumental.
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