Buy me a coffee? It’s a phrase that we have all probably used at one time or another in our lives. Why has it become more popular in the last two years? Many small businesses were forced to close during the Pandemic, and freelancers didn’t get as much work. These people needed to find other ways to earn a living.
Many freelancers, small businesses, and content creators have turned to Buy Me a Coffee.
How does Buy Me a Coffee work? What are the benefits of a page?
What is Buy Me a Coffee?
Buy Me a Coffee was founded in 2018 as a crowdfunding platform that allows creators to raise donations from supporters. Crowdfunding is a way to raise money for a project. It involves many people donating a small amount. Buy Me a Coffee was able to allow a different kind of crowdfunding to take place during the pandemic. It helped to pay rent for small businesses and cover daily expenses for freelancers. It also allowed them the opportunity to sell their services on the same platform.
Creatives also have another option to make money from their content. All they need to do is add a button to their site or share a link on their social media. It’s like tipping a waiter. For a small amount, you can show appreciation to your favorite creators.
What is the secret to it?
A supporter can make a one-time payment (PS5) for a cup of coffee or multiple cups to a creator. 95% of this donation goes to the creator, with 5% going to the platform. The platform accepts all major credit and debit cards, as well as apple pay and google pay as payment options. The site doesn’t require donors to sign up. It uses a one-tap payment system – the website won’t email your supporters.
Buy Me a Coffee offers membership options. These often offer attentional perks, as well as regular gifters. Members-only discord groups, exclusive posts and live streams for members may be available as part of memberships. You can also add additional memberships that allow you to sell products or services to your target audience. There are many ways you can make extra income with the platform, including artwork commissions, drum lessons and eBooks.
What is the cost of a page?
Although the initial setup of the page is free, they charge a 5% transaction cost for all donations. This amounts to approximately 25p per PS5 donation. Additionally, the funds raised go directly into your bank account. On other platforms, you might have to wait up 30 days to receive a payment.
What are your supporters entitled to?
They may benefit from additional services that you offer, in addition to the fact that they are helping you keep afloat during difficult times. You can offer memberships to ensure a steady monthly income through Buy Me a Coffee and build strong relationships with your supporters. You can also have different membership levels to get different benefits for different monthly payments. You can choose from a basic membership that gives you access to the members-only Facebook page or a more advanced monthly zoom call. There are many options.
Set up your page
It’s easy to set up your page. There are only a few steps that will take you from creating your page to launching it. Fill out the information on the website or connect it to your Facebook account. Once you have confirmed that you are over 18, sign up for the site. Select a payment method to get started.
The next step is to personalize your page. Add a bio about you for your followers to get to know. To give your followers a better understanding of your vision and work, choose a color scheme and upload a featured photo or video. Your profile should be more detailed to increase your chances of getting a donation.
Crowdfunding Vs Buy Me a Cup of Coffee
While they are basically the same thing, Buy Me a Coffee is more casual than traditional crowdfunding. We have written articles about how to crowdfund living expenses and medical expenses. But Buy Me a Coffee is more for creatives. You can quietly add the button to your blogs, websites, and social media pages. Traditional crowdfunding requires a larger campaign to get traction. However, buying someone coffee is possible without the need for social media hype.
This could be a great way for you to make extra income if you are creative. Or you could use the money in order to invest in your business. To further your creativity, you could purchase new equipment or enroll in a training program.
Do you want to buy me a coffee? Crowdfund MoneyMagpie – A New Way to Do It.
Did you miss our previous article…