Summary

An aspiring writer is documenting their journey to earn $10,000 on Medium in 2024, considering the benefits of becoming a Friend of Medium to potentially double their revenue.

Abstract

The author of the article has embarked on a financial freedom quest by aiming to earn $10,000 through writing on Medium by the end of 2024. They are sharing their progress in a series titled "Road 2 10k," updating every Sunday. In the second week, the author experienced a significant increase in earnings, reads, and followers, with a 748.6% increase in revenue compared to the first week. The article discusses the potential advantages of upgrading to a Friend of Medium membership, which includes a status symbol that could lead to increased engagement and earnings. The author plans to become a Friend of Medium after the third week to gather more data and assess the impact on their earnings.

Opinions

The author believes that the Friend of Medium membership could significantly boost their earnings due to the status it conveys and the additional benefits it offers.
They are intrigued by the theory that being a Friend of Medium could double revenue and are willing to test this hypothesis.
The author values transparency and has committed to sharing all statistics, even if they reflect less favorably on their progress.
They see the Heart of Gold symbol as a status symbol that could encourage more interactions with their content, leading to higher earnings.
The author is optimistic about the potential effects of becoming a Friend of Medium and is excited to share the results with their audience.

I’m gonna earn $10,000 on Medium in 2024: Should I become a Friend of Medium?

I Had a 748.60% Increase in Earnings. Road 2 10k Week#2

Financial Freedom.

The ultimate dream everyone has.

And I’m no different.

This article is the 2nd one of my Road 2 10k.

It’s a series in which I will earn $10,000 on Medium in 2024.

I will share my progress with you every Sunday until I reach this goal.

If you haven’t seen it already, check out the Start of my journey here:

I’m gonna earn $10,000 on Medium in 2024: Here’s how

I gained 63 Followers on my first 4 Days: Road to 10k: Week #1

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My tactics stayed the same as last week.

But this may change very soon!

I recently stumbled upon an article by Bin Jiang about why becoming a Friend of Medium may boost revenue by 2x.

I’m very intrigued by this theory.

I’m going to play the guinea pig and test it.

But why would becoming a Friend of Medium increase your revenue?

The Heart of Gold Theory

What is a Friend of Medium?

Currently, there are 2 tiers of Medium Memberships:

Medium Member and Friend of Medium.

The Friend of Medium has all the perks of a Medium Member but has 3 additional benefits that a Medium Member doesn’t:

Writers Earn 4x when you read their stories.
Share member-only stories with anyone and drive more earnings for writers.
The Heart of Gold: A Heart Symbol next to your profile picture

At first glance, you don’t get much personal benefit from purchasing the Membership, but that’s exactly the genius behind it.

What you’re buying is not a direct benefit.

What you’re buying is a status symbol.

The heart symbol tells everyone that your engagement is worth more than the engagement of a regular member.

This will lead to others wanting to interact more with your content and thus drive up your earnings.

This is a fantastic reason to become a friend of Medium!

But before I become a friend of Medium, I want to collect more data to make a better comparison (for science!).

After my Week #3 post I will be a Friend of Medium!

Here’s Bins article about the Friend of Medium:

Why Friend of Medium is Currently Undervalued (Earn 2X+, Cost 3X, Give 4X)

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Now let’s see how this week went without being a Friend of Medium.

Stats Breakdown: Week #2

As you might know, I don’t like to keep secrets.

I want people to learn from my mistakes and do it better than I did.

So I took the vow to show you everything, even if it puts me in a bad spot.

Remember: No Secrets.

I’ve joined the Partner Program on 03.01.2024.

Since then I’ve reached 138 Views and 68 Reads.

That’s an increase of 383.3% in Views and 485.7% in Reads since week #1.

Last Sunday my Follower count was 63, and it increased to 110 since then.

This means that in 1 week my amount of friends increased to 174.6%.

But how did this affect my earnings?

My earnings jumped up way more than the rest of my stats.

$13.4 doesn’t sound like much, but it towers over the $1.79 that I earned last week.

It ends up being a 748.6% increase from the prior week!

If it were to increase revenue by 7.5x every week, I’d reach my goal of $10,000 in February.

This of course is unrealistic, but fun to think about.

All in all, I’m very happy with how this week went.

Starting after week #3, I’ll be a Friend of Medium and share with you the difference it makes in earnings, reads, and followers.

I hope to see you around on the journey to $10,000 in 2024!

Let me know that you liked this article by leaving a clap, or two!