I currently have 7 tiers on my Patreon page, from $2 to $100, and I want to change it to just two tiers - $5 and $10. I currently have 450+ patrons.
The $5 patrons will now have access to all the rewards - exclusive content (formerly available to every patron) + Slack community (a new thing for the channel) + periodical Hangouts (previously available only for $50+ patrons. I’ll rotate through the patrons to keep the talks intimate and not too crowded). The $10 will keep their previous perk of having their names at the end of videos, that’ll be the only difference between the two tiers. So I’m asking most of the patrons to pledge more money, but I’ll be giving them more rewards. I feel like I have to change the tiers to make the channel more sustainable in the long run, I think it fits the channel’s more boutique niche, and I prefer to have a more egalitarian community.
My average pledge is about $3.5. I’ve made some calculations: if all my $10+ patrons edit down their pledges to $10 and 100 $2 patrons leave, I’ll lose about $300 per month. Which means that I need 200 patrons to edit up their pledges to $5 to break even. Obviously, I’m hoping some of the big spending patrons will not edit down their pledges and that less than 100 patrons will leave, so those are kind of worst case estimates.
I’m wondering if there are best practices on that? Do any of you have any experience with this transition? I’m looking forward to get feedback!