We Are Cycling Our Money on Medium

Summary

The author, a Medium writer, discusses the challenges of monetizing their work through Kofi donations and Medium's affiliate program, reflecting on the platform's economic cycle and personal financial struggles.

Abstract

The author has been including a Kofi link in their Medium articles to solicit donations, as their sole income is derived from writing on Medium. Despite this effort, they have not received any donations, attributing this to the majority of their readers being Medium members who are also trying to earn through the platform. The author contemplates the futility of expecting additional donations from fellow members who are already contributing to the platform's economy. They also acknowledge the irony of asking for donations when they themselves would not donate under similar financial circumstances. The article further touches on the author's limited reading habits, the potential impact of Medium's acquisition of Knowable, and the minimal success with the Medium affiliate link. The author concludes by inviting readers to support them through Kofi donations or by using their referral link to subscribe to Medium.

Opinions

The author believes that it is somewhat paradoxical to ask for Kofi donations from fellow Medium members who are also earning through the platform.
They recognize that their income is limited and that they cannot afford to donate to every good article they read, which aligns with the behavior of their own readers.
The author suggests that the success of the Medium affiliate link is unlikely unless the content is exceptionally engaging, such as a cliffhanger story.
They express a sense of resignation about the effectiveness of the Kofi link and the affiliate program but still hold out hope for external support.
The author implies that the time spent reading articles could be better utilized for writing their books, indicating a preference for focusing on longer-form writing projects.
They see potential in Medium's acquisition of Knowable, which could increase their article consumption and possibly their earnings through audio content.

And No One Has Bought Me a Coffee

Some time ago, I read an article that suggested adding a Kofi link to my article to solicit donations. Being that my only income is from writing on Medium, I jumped at the suggestion and have been including the link on all my articles for about a month.

No one has bought me a coffee.

I can understand why no one has bought me a coffee. The majority of my readers are Medium members who are trying to pay the bills through readership just like me. We’re cycling our money around on the platform as it is. We each pay $5 per month for our articles to be read so that we get paid in return off the money you and I contribute every month. So why on Earth would I expect someone like you or me to take an extra step and donate $5 to me?

I’ve considered not including the link in future articles, but part of me says that a very generous Medium reader or an external (non-Medium member) reader may decide to buy me a $5 Kofi that will buy me a tank of gas.

You Reap What You Sow

I also realize I am asking people to do what I would not do. On a limited income, I am not buying a Kofi every time I read a good article on Medium.

Further, I know I don’t read as much as I write on here, and I’m learning that those who suggest that you read more have a team of people they pay to do the reading for them while they write. So, since I don’t have much time to read a lot of articles, I’m likely missing out on readership numbers that would rise to the point I wouldn’t need to ask for a Kofi. If I’m right, and Medium’s acquisition of Knowable leads to audible stories, then I can “read” tons more articles while I fold laundry, do the dishes, and run errands.

Oh Yea, The Affiliate Link…

I also include the affiliate link for Medium membership at the end of every article. 99% of my articles are read primarily by Medium members, but one article reached over 2,000 external readers. I did not get one membership from that article.

Is anyone having any luck with the affiliate link?

Is anyone’s writing that good that they make people want to subscribe after reading the limited one to three articles Medium allows non-members to read? The only way I could see this happening is if they wrote an edge-of-the-seat, nail-biting story that I can’t wait to read to see what happens next. I have books to write, so I have to invest that type of energy in writing my books versus Medium stories for pennies per ten keystrokes.

If you enjoyed this article, please consider buying me a coffee!

If you like this article, please clap and leave a response. Also, if you would like to support me as a writer, please consider joining Medium to continue reading my work, as well as the work of thousands of great writers. Please use my referral link to become a member for $5 a month or $50 a year. (This is an affiliate/referral link that will result in me getting a commission.)