New Funding for The Drum Lesson

[Jason76]

$5,000 bank loan with three-year monthly payment approved (credit score finally good).

Well, I need $1,000 for a new apartment rent - but I need to know how to use the other stuff wisely. One option is to grow the Facebook page and then use some to promote the Patreon page. Another option is to promote the Facebook group on the page - since posts (which might have the Patreon) don't need paid boosting on there.

https://www.facebook.com/thedrumlesson (FB page)

https://www.facebook.com/groups/thedrumlesson (group)

https://www.patreon.com/thedrumlesson (patreon)

https://thedrumlesson.com (forum)

Note: Facebook ads for this niche are normally $0.24 a click on average for boosting and communicating posts with the page - both of which have to be paid, unless you use the group.

O.K., some models for development are Guitar Nick with 80,000 social media followers making around $3,000/mo on Patreon and Angela's Fine Art with makes around $8,500/mo on Patreon with around 200,000 social media followers (note mentioning social media account with biggest following).

 

[JoelR]

For the record, I'm not a fan of taking out a consumer loan to grow your forum unless you have a proven business model (and you treat it like an actual business, with a business plan, accountability, performance metrics, networking with mentors, etc).

I'm also really not a fan of taking out a bank loan to pay for household necessities (like rent) if you don't have a stable and recurring source of income. Have you thought about getting a day job at a music store, or offering private drum lessons in your area?

 

[JoelR]

I wanted to revisit this topic to add that I do wish the very best for you @Jason76. I just don't want to see your forums bankrupt your personal finances (or vice versa).

Some things for you to think about:

• Try to target 3 - 4 different platforms. Some should be broad (like Facebook or YouTube) and some should be niche, so you get a broad variety and you can compare conversions later.
• Have you thought about different marketing messages or designs?
• Have you thought about a specific landing page that can funnel your visitors?
• Have you thought about a limited marketing campaign (like $50, then $100, then $250, then $500) to scale up?

Hopefully this gets you started on your planning.

 

[Jason76]

I wanted to revisit this topic to add that I do wish the very best for you @Jason76. I just don't want to see your forums bankrupt your personal finances (or vice versa).

Some things for you to think about:

• Try to target 3 - 4 different platforms. Some should be broad (like Facebook or YouTube) and some should be niche, so you get a broad variety and you can compare conversions later.
• Have you thought about different marketing messages or designs?
• Have you thought about a specific landing page that can funnel your visitors?
• Have you thought about a limited marketing campaign (like $50, then $100, then $250, then $500) to scale up?

Hopefully this gets you started on your planning.

I'm leaning toward advertising the group on the page - because inside the group I can get more efficient marketing. Simply put, the page is too big to really target people in a cost efficient manner. But I still want to grow the page - but only as reservoir for the group.

 

[Jason76]

O.K., I have may have changed my mind about the group. I could advertise the Patreon thru the page. But the Patreon needs to be bigger and more attractive to buyers. I think that was the problem before.

Well, my boosting on the page (of various drum lesson posts) is getting me massive results - but then again, I boosting out to 10,600 followers at the moment (around that number). Well, it's not reaching all of them - but it's a big thing to boost out to.

 

[Page]

Have you used a site, gofundme ? maybe that will help out but expect nothing

 

[Jason76]

Have you used a site, gofundme ? maybe that will help out but expect nothing

With all the money needed for GoFundMe - you could just use that same money to buy ads directly for the project.

Well, if you could target likely donors using ad money - to get way more ad money (ad money used directly to advertise the project) - well, that might work - but I have no clue how to do that.

It's like going to a bank with collateral money - in order to borrow more money - except it's a sure thing at a bank - but not with crowdfunding.

 

[Cam]

For the record, I'm not a fan of taking out a consumer loan to grow your forum unless you have a proven business model (and you treat it like an actual business, with a business plan, accountability, performance metrics, networking with mentors, etc).

I'm also really not a fan of taking out a bank loan to pay for household necessities (like rent) if you don't have a stable and recurring source of income. Have you thought about getting a day job at a music store, or offering private drum lessons in your area?

This is what I am thinking as well.

It's awesome that The Drum Lesson is doing well and you're taking steps to make it even better, but don't put yourself at risk in that pursuit. You were approved for a 5,000 bank loan, which has to be paid back with interest over the next three years? How do you plan to pay that money back? I really hope you have a reliable income and a plan going forward.

 

[Jason76]

Well, there's a few hecklers. Like one guy saying in comments: "The first lesson: Get some earplugs! 😀 " Credibility is a big problem but most people are signing up as followers. But - you know - all you famous people started out as nobodys, right? Anyway, the hecklers were saying pro drummers like Rick Latham were for real - but - you know - it's all flash with those guys. Maybe people want a more anti-elitist thing. I mean, how many times has Neil Peart been on Modern Drummer? 😳