Wallafan VS Patreon and Beyond

How do the money-making platforms stack up? Pretty well, it turns out!

One of the biggest questions content creators often ask is one that sits at the heart of our modern day culture: how can I make money doing what I love? People often struggle to answer that question, assuming the process to be difficult or challenging just because the money isn't coming in a standard paycheck format from a boss you don't have. But I'm here to tell you that making money through content creation has never been easier!

At the moment, it feels as though everyone uses Patreon. It's the largest, most well known, and most recognizable option out there. But does Patreon's place on top mean it's also the best? Or is there a competitor out there capable of taking down the current crown bearer?

Understanding Patreon

Before I answer that burning question (spoilers: the answer is yes, but more on that later) about potential competition, it's important to understand why we would even bother. If Patreon is the biggest and most well known, why even bother looking elsewhere?

The answer lies mostly in business practices:

First, community. With Patreon, there simply isn't one in any useful sense. Patreon offers a very streamlined service with very basic capabilities - there just isn't room for community building or organic discoverability
Second, monetization. While it does allow us content creators to make money, Patreon takes a percentage of everything we earn - and not a small percentage either. If growth is your goal, more money made meaning more money taken doesn't scale well.
Third, rigidity. Again, Patreon has one job and it does that exclusively. The only way for money to change hands on the site is via its regular subscription model. If you're trying to collect tips or one-off donations, you're just out of luck over there.

Other Options

With those issues in mind, what are some alternatives that offer more monetization options for content creators unsatisfied with the easy answer? I'm so glad you asked:

Wallafan:

Wallafan is an all-in-one creator owned community based platform offering direct monetization and easy connection with fans. With a fixed price payment system that ensures all of your proceeds go directly to you, Wallafan offers incredible versatility in terms of exactly how and when you get your money.

Key Features:

Full control over your content, community, and income
Available for free with additional features at fixed costs, not percentage fees
Plenty of integrated tools for easily customizing just about anything you need

Ko-fi/Buy Me a Coffee:

Ko-fi and Buy Me a Coffee are two very similar smaller scale monetisation platforms focused around easy one time donations and, as they put it, "buying the creator a cup of coffee." While these sites typically function best as digital tip jars, they do offer support for monthly donations and crowdfunding goals. Neither offers much in the way of community support or analytics, but in their role as supplementary site rather than primary method of engagement they don't really need to.

Key Features:

Simplicity. For both users and creators, all it takes is a couple buttons to make these two work
Offers multiple ways to donate including one-time options and monthly subscriptions
Buy Me a Coffee allows creators to sell digital products, while Ko-fi is completely free

Kickstarter:

Kickstarter is another big name on the monetization front and is popular for a reason. If leveraged successfully, it can be a tool capable of funding otherwise impossible dreams and launching efforts that wouldn't have a cent otherwise. This platform is, however, very particular about what it can and cannot do. Kickstarter is meant to enable single, specific projects to reach a limited funding goal. If that goal isn't met or if you want to do something outside the scope of the project, you're probably better off looking elsewhere.

Key Features:

A great way to get a large, one-time influx of funding
Easy to set up and thoroughly established in the industry
Free to start. You're only charged a percentage of your funding once you successfully raise some

So which platform is right for you?

In the end, only you can know. But don't settle for easy answers and big names. Instead, the best way you can start monetizing your content creation is to take some time and consider which option will offer you the most over the course of your up-and-coming career. After all, in the end the answer might surprise you!