05 Dec What Rewards Should You Offer On Your Crowdfunding Campaign?
Your crowdfunding campaign is competing against hundreds of others, and possibly dozens that are similar.
One thing that could make your campaign stand out in the crowd and keep up with the competition is the use of perks and rewards. However, do not assume you can offer up just anything.
Instead, you need to be strategic with what rewards you offer, how much money a person must invest to get those rewards, and what perks you will use to reel in the big donors.
According to Catherine Clifford at Entrepreneur, between 69 to 89 percent of crowdfunding projects never reach their goal. So, if you want to beat the odds, you need to give people something in return for giving you their money.
Here’s 4 Types Of Rewards To Consider
Take a look at the crowdfunding campaigns on popular platforms right now, and you will notice that the ones close to their campaign goal share something in common: perks.
They all offer perks, even for the lower donors. That is because they know people are naturally inclined to give when they receive; it is just human instinct.
To help you start generating ideas for your perks and rewards, here are four categories:
- Copies Of The Product
People may want a copy of the actual product you are trying to fund once the project gets going. These items should be priced based on what they would go for retail. For example, you’re supporting a T-shirt printing service and shirts will sell at $15. If someone pledges $25, then he or she should get a free shirt in return.
- Let Them Collaborate
Funding a book or a movie idea?
Let the bigger pledges get an opportunity to appear in the film or even have a character created after them in your book. By letting people feel like they are part of the experience, they are more likely to donate more to your cause.
- Give A Memento
You can give your pledges something in return from the location, provide them with a generous “thank you,” or even a token. Anything that is a memento of their donation and how your project was successful will work.
- Offer An Experience
For the highest level pledges, you could offer the full experience.
For example, you’re funding a film. The pledges that meet your max threshold have an opportunity to visit the set, meet with the actors, and possibly serve as an extra on the movie.
Offer Something In Return And You Will Win
PC World states that $50 is the most significant pledge on your list. So, make sure that you offer the backer something exciting for their $50 donation to your cause.
Make sure to promote your rewards and perks for your crowdfunding campaign on social media too. You want people to know what they could get in return and share with family and friends the opportunities for backing your project.
For extra help designing the perfect website, social media campaign, and more, contact the crowdfunding pros here at LC Media.
We know how to tailor your marketing approach to meet the needs of the typical donor, and we can help you successfully create a campaign that beats the odds.
Schedule a meeting with our crowdfunding team now by filling out an online contact form.