….2 words. Interesting Rewards.
Our friends at Kickstarter have paved the way for us crowdfunding enthusiasts. If you’re unfamiliar, Kickstarter is the most popular stage where creative/artistic projects can find funding through an online platform. What’s great about Kickstarter is that creatives are encouraged to reward their backers (donors) with a gift or token of appreciation. We’ve seen this donation-reward system have incredible success on Kickstarter, and wanted to dissect why this system works so well.
Let’s briefly take a look at the 5 most successful Kickstarter projects (to date):
Goal: $125K, Raised: $928,771 from 5,358 backers
Goal: $15K, Raised: $942,578 from 13,512 backers
Goal: $57,750, Raised: $1,254,120 from 14,952 backers
Goal: $75K, Raised: $1,464,706 from 12,521 backers
Goal: $400K, Raised: $3,336,371 from 87,142 backers
For projects focussed around a deliverable, you can have amazing crowdfunding success if you reward donors with something they actually want. These campaigns went viral because they compelled people to share and donate with the hopes of receiving the proposed deliverable (e.g. the watch, the new video game, speakers, etc). Yes, people will donate from the goodness of their hearts, but that isn’t sustainable. It sure isn’t sexy. So let’s give people a reason to donate. And reason to share your campaign with their friends and family. You can do this by offering interesting rewards in your crowdfunding campaigns that galvanize people towards action (specifically sharing and donating).
Now, I understand that as a nonprofit organization, you may not have access to sexy products/gifts to reward your donors. That’s okay! Your rewards don’t have to be tangible items…they can simply be creative ways of saying ‘Thank You’ to your donors (e.g. hand-written thank you note, short video message, dinner, personal blog post). Nonetheless, the team at WeDidIt is making it easy for you to find rewards that your audience will both LOVE and appreciate :)
So as Pebble: E-Paper Watch for iPhone and Android approaches Kickstarter History with their ground breaking project (already raised over $3MM with over 30 days left!), think about how your organization can give people a reason to donate if you too want crowdfunding success.