Tailoring your rewards to resonate with backers can significantly impact your campaign's momentum.
Running a successful crowdfunding campaign involves a multifaceted approach, encompassing effective social media marketing, email outreach, and compelling press releases. In this blog post, we shift our focus to a critical element of crowdfunding success: rewards. Tailoring your rewards to resonate with backers can significantly impact your campaign's momentum.
Here are six key strategies to consider when developing your crowdfunding rewards.
Engaging with your audience is paramount. Fans, ranging from your social media followers to friends and family, represent a valuable pool of feedback. Leverage platforms like Twitter to run polls, turning the reward selection process into an interactive and engaging experience. Their insights can be invaluable, especially when planning a Kickstarter campaign. Trust the opinions of those who share your enthusiasm for the project.
Create a sense of urgency and exclusivity by offering rewards at a discounted rate during the crowdfunding phase. Providing backers with the opportunity to acquire your product or service at a lower price than the intended retail value encourages early support. This tactic is particularly effective when dealing with products or services still in development, as it addresses the uncertainty some backers may have.
Shift the focus from what backers can do for you to what you can do for them. Clearly articulate how your product, art, or service addresses a problem in their lives. Whether your creation solves an everyday issue or brings joy and inspiration, emphasize the tangible benefits for backers. Align your campaign narrative with the impact on their lives, creating a compelling reason for them to support your project.
Scarcity is a powerful motivator. Elevate the allure of your crowdfunding campaign by making rewards exclusive and limited. Communicate to backers that these rewards are unique and won't be available elsewhere. Consider reserving higher-tier rewards for exclusivity, such as limited edition finished products, while maintaining unlimited availability for smaller tiers like shout-outs and exclusive merchandise.
Inject creativity into your reward offerings by introducing personalized options. From custom merchandise to unique experiences, personalized rewards add an extra layer of specialness. However, it's crucial to assess the feasibility of fulfilling these rewards within your time constraints and production capabilities. Ensure that personalized rewards enhance rather than complicate the manufacturing process.
Expand the definition of rewards beyond physical items to include experiences. If you're running a film campaign, offer backers the chance to attend the movie premiere or secure tickets. For projects with a substantial fan base, consider arranging video chats or virtual meet-ups. These experiential rewards create a personal connection between backers and your project, fostering a sense of community.
