For many companies, backer rewards are the fastest and easiest way to get people involved with a crowdfunding campaign. The quality of those rewards are what will drive people to provide a pledge, even if they didn’t intend to do so at first. Here are 7 ways that you can not only improve the rewards that are offered, but improve the exposure that they received as well.
1. Capture Their Attention.
Anyone can offer an autographed copy of a book or a spot as an extra in a movie. What if one of the backer rewards was a chance to actually be in the book as a character? Or what if instead of being an extra in a movie, someone could play an instrument on the movie’s soundtrack? Being interesting with your rewards will create a buzz that the press might just pick up on. More access to the project almost always creates more interest in a campaign and that equates to more money being raised.
2. Get a Big Name.
The average person doesn’t have the phone number of an A-lister in their smartphone. You might not know a celebrity, but you do know a few people who make a big impact on their local community. Reading Rainbow showed what getting big names involved could do by having partners like Patrick Stewart read books to children. Maybe a local business could do the same for you. Take what people are willing to offer and run with it.
3. Nostalgia Works.
TLC just raised over $400k for a new album by playing to the fond memories of their past music. They offered sleepovers with the band as a paid reward – something that really didn’t cost much, but raised a ton of cash. You could offer people a dinner with you so they could pick your brain, but you can also play to a person’s childhood to raise some money as well. Make sure you have rewards at many different price points so that everyone can get involved.
4. Be Egotistical.
If you’re crowdfunding a brand new board game, then play to a backer’s narcissistic side to increase your chances of meeting your funding goal. Offer to include them in the game in some way. For a high-priced donation, you might even consider putting their face on the box itself. Theater clubs could offer having a portrait hung on stage for a backer to see. One-off rewards are a great way to generate interest and desire because they are such a scarce item.
5. Use History.
People love to support winners. They also love to support loyalty. If your business is about to celebrate a long-term anniversary [like a 20th year in business], then take the opportunity to do something great. Crowdfunding can be as simple as introducing a commemorative product to the market that is only available on the platform.
Museums and historical centers can also take advantage of this concept to drive more support. People are committed to protecting their communities and personal history and any idea that they can affordably support will do so.
6. Get Entries.
What could you offer to others that would help them be able to promote themselves? Imagine if you needed a new logo right now for your business. Instead of paying a graphic design company for the work, what if you used crowdfunding to enter the space instead? For a small pledge, independent graphic designers could submit ideas for your new logo. You get paid for people to submit something you need and in return, you’ll promote the winner. This generates a lot of interest and is beyond the curve of current crowdfunding.
7. Share the Skill.
You’ll find this rewards offer on artistic crowdfunding campaigns more often than not. Authors trying to raise money for a book might offer to edit someone else’s book as a reward. Painters might offer a self-portrait from a photograph in return for a specific pledge amount. A publisher might offer a reward where authors could come together and pitch ideas. When skills are shared and ideas fused together, everyone benefits. Your business benefits by getting extra cash.
Go beyond the pre-ordering rewards that so many companies are offering today. Go out on a limb and do something unique. This will help you be able to stand out, grab some potential buzz marketing in the process, and make a big impact on your industry.
Strong proponent of individual liberty and free speech. My goal is to present information that expands our awareness of crucial issues and exposes the manufactured illusion of freedom that we are sold in America. Question everything because nothing is what it seems.