SA Crowdfunding Blog

The use of rewards to attract business funding or contributions to your crowdfunding campaign has long been a key part of the deal, were you ask for a contribution with the agreement that something else will be given in return. In recent months however we have seen an increase in the use of the actual product and variations of that to entice the contributor to make the kind of contribution that will support the entrepreneur to bring product to market.

In other words entrepreneurs are using crowdfunding as a launch pad to introduce the product to the market. This is a great idea of course as the entrepreneur is getting a readymade shop window where the product is introduced. Not only is the product introduced but a type of market research is taking place where the entrepreneur quickly finds out if the product is going to be successful based on the popularity of the product on the crowdfunding platform.

In a recently published book The Crowdfunding Bible by Scott Steinberg, CEO of consulting firm TechSavvy illustrates this well where he discusses some of the options available when creating your crowdfunding incentives.

Scott sugests the follwoing options as crowdfunding rewards:

  • The product itself. A copy of the item in question—and, potentially, one sold for a limited time at a steep discount. Be sure to calculate any associated costs and figure them into your pricing structure and funding goals.

  • Published in SA Crowd Funding Blog

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