A statement from a Top Writer and data-driven marketer about the mistakes people make when sharing Money Stories on Medium.
Stories about how to make money with writing on Medium are booming.
Some people really hate them.
However, especially newbies love these types of stories because they can be a great source of inspiration.
As you might know, I love to help new writers and share lists, for instance Medium’s Top 10 Writers or Top 10 Publications.
A fellow writer took the time to put ME on a list.
Of course, I felt flattered and honored. Don’t get me wrong!
since this list simply lacks a lot of foundation, I wanted to briefly refer to it and share a statement from the perspective of a data-driven marketer in regard to all the Money Stories and earnings comparisons out there on Medium:
Writing on Medium is my side hustle. I’m a professional marketer who loves data.
So here’s my advice.
If you read a Money Story or want to compare something (for instance writers and their earnings based on data) don’t make these 5 mistakes:
❌#1 Don’t compare 2020 with 2022 on Medium.
In 2019/2020, the algorithm was different.
Back then, people wrote one story, that went viral and earned thousands of dollars OR wrote one story and made a book out of it.
Additionally, Medium shared earning reports.
For instance, with the highest earning writer or story.
Fast forward to today, there’s no such thing as transparency in regard to earnings.
❌#2 Don’t rely on screenshots.
If you want to gain 10K followers overnight or make $1,000 on Medium… read my story it’s absolutely doable.
It’s absolutely doable for you too — with a little hack.medium.com
No, I’m just kidding.
The above-mentioned article shows a simple hack with the Developer Tools Of Google Chrome.
Do not be impressed by any screenshot you have not falsified yourself!
❌# 3 Don’t rely on any statement about money on Medium
I don’t say you shouldn't trust.
I’m just saying be careful WHO you trust and WHY.
At the moment, I block every How I made $1,000 on Medium in a month story and even blocked writers.
The fast and easy buck is a lie in any serious busy.
❌# 4 Don’t be impressed by ONE good month on Medium
Of course, this author is making a lot of money this month, BUT it took him hundreds of months with just a few cents or a few dollars to get to this point.
- Even the real Top Writers (here’s a list of the Top Writers in 2022) earn around $100,000 per year. This means less than $10,000 per month.
- It’s not as in the good old days anymore.
❌#5 Don’t be impressed by someone’s following
Yes, I recently shared a list of Medium’s Top Writers in 2022.
Their following is an official data point you can refer to.
BUT (!) their following can mean NOTHING.
As Top Writer Nicolas Cole stated last year, it’s definitely a vanity metric. Most of the followers aren’t on Medium anymore.
Did you know that every 3 months your audience changes?
Yes! That’s the typical cycle on social media.
Of course, your raving fans will follow you, but readers come and go.
🤑My first $500 bucks on Medium
To come back to the article about my earnings in regard to 1,000 followers.
The data shared in the article (which I don’t want to link to) is not correct!
According to it, I have 6,000 followers and earn $500 which is $83 per 1,000 followers.
Sorry, but that’s not correct!
Here’s the truth I’ve shared in several articles
Background info: I love to share my writing journey and reflect on my small wins. Whenever I’ve shared my earnings in the past I didn’t do this to brag. I share this to inspire others.
When I earned my first $500 bonus in April 2021 (5 months after I signed up to become a member) I couldn't believe my eyes. I thought it was a mistake.
Instead of $50… Medium wanted to pay me $500?!
I had to write about this, informed others who checked their Stats Page, and also found a bonus payment in a green box.
We celebrated together!
I was one of 1,000 writers who received a bonus and I received it 4 times.
As a novice writer, it was a great motivation boost.
So, fast forward to October 2021, I shared I’ll REALLY make my first $500 bucks without any bonuses.
Here are my 10 lessons learned in 10 months to help you jump to the next level. Yes, you can make money on Medium too!medium.com
I didn’t expect that I even would earn more than $600 at the end of October with only around 1K to 2K followers. (Not sure about the exact follower count.)
What I can share with you, is that fast forward to today, I had several viral hits and transformed my content creation into a 5 digits business.
(In my Medium Kickstarter Boot Camp, my students can see my Stats Page with the views and earnings. I don’t want to share this on Medium. It is intended for educational purposes only.)
Final Takeaways — Forget about the numbers
Before you read or share something on Medium, double-check the data first.
Since it is so difficult to find data, you can only take what you find BUT you have to find common ground.
- Only compare the latest data, for instance, the earnings from June 2022 — there are a lot of people sharing their earning reports. Trusted sources are Robert Ralph as owner of New Writers Welcome and Zulie Rane who shares her earnings live on camera.
In the corporate world, I couldn’t go to my boss and show him a spreadsheet with data from 2020 and 2022 mixed.
He’d laugh at me and say:
Kristina, are you kidding me! That’s not OK! Go get some real data for the presentation.
But wait, there is at least one thing I agree with the author of the said list on:
(…) you can make good money without many followers.
YES! That’s what I wanted to show you with my little behind-the-scenes look!
Now stop reading all those “How Much Money I Made On Medium stories” and become the hero of your own writing journey! Create!
I’m so grateful for you and really appreciate your support.
Why not join Medium? You’ll get unlimited access to all my articles and thousands of other writers.
As a Medium member, a portion of your membership fee goes to writers you read, and you get full access to every story…kristinagod.medium.com