SA Crowdfunding Blog

Monday, 14 May 2012 15:18

Getting Your Crowdfunding Rewards Right

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One of the most important considerations when setting up your project on StartMe is to ensure you get the rewards right. We call these rewards StartMe rewards. If someone is going to help you to reach your funding goal then surely they should receive a reward. The bigger the contribution to your goal the bigger the reward should be. This seems only fair don’t you think?

"How important are StartMe rewards?" VERY!

So what is the idea? What type of rewards should you be offering to the kind people who are going to help you start? Well, you need to be creative. Remember that you are going to be competing with a number of other projects for the gift, donation or investment of the people helping you.

The best StartMe rewards create a lasting impression on your supporters. They may even come back to your project and contribute again because of the feeling of appreciation they got from you.

Charities have known this for years! How many tote bags do you have in your closet with some organization's logo on them? Umbrellas, theatre tickets, movie tickets, stuffed animals, books, CD's, DVD's...a lot of things have been used as a reward for giving.

What is important about a reward?

It gives the supporter a token which constantly reminds them of their decision to contribute to your project. Especially if it's branded with a logo or phrase that ties back to your project.

Your StartMe rewards should reflect the creativity of your project, and project team.

The creativity that they put into defining the StartMe rewards made me feel that their entire project is infused with creative talent!

One creative use of StartMe rewards is to increase your sales.

And don't forget to create a reward for all levels of funding for your project. For instance, for a R1 contribution your supporters might get a "Thank You" email from you. For R5 you can send them a handwritten "Thank You".

Do something special for the R2500 and R5000 contributors. The odds are that you won't have an overwhelming number of high-end contributors (the average contribution for any crowdfunding project is R200), so you won't have to worry about creating a hundred hand-sewn "Thanks For Your Support" stickers.

On the other hand, that's not a bad problem to have! :-)

Be creative! And add a personal touch! Some StartMe rewards I've seen include "I'll take you on a bike tour of Paris", "I'll write you a song", "I'll name a character in the story plot after you", "I'll bake you a dozen cookies"

As they say, the sky's the limit! Create StartMe rewards that you have fun giving! Your supporters will pick up on the good energy of gratitude that you send them through the reward!

StartMe rewards are a great and lasting way of saying "Thank You for supporting me and my project!"

So as part of your offer or presentation or video and images that you are going to be using to attract funding to your project start thinking if the rewards that will ensure that your project is the one that gets funded.

Read 2035 times Last modified on Monday, 14 May 2012 20:12

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