Designing the best crowdfunding rewards
Why give rewards?
Are they worth the hassle and cost of sending them out?
Of course they are ..
I wrote an earlier post on the Good, the Bad and the Ugly of rewards for a £10 or $10 donation.
Good rewards publicise your organisation or venture, build support or customer base – as well as thank donors.
But not all rewards are welcome – some are refused by the donors
Some of your donors will not want any reward and you must give them the option to decline. Though you should thank them anyway. A refusal is more likely if the reward is a report of action taken e.g. a DVD of an event or refurbishment.
Who has the time to read more reports or watch DVDs of events they did not attend?
Unless of course the project was for film or music – then the DVD or CD is exactly what the donor wants.
If your reward is not wanted you’ve lost the opportunity to continue the dialogue with the donors.
So be clever and creative with your rewards.
Why are you giving rewards?
What would the people you hope to reach like in return?
Set up a small focus group of close friends and allies and their friends. This process also starts to build support for the campaign.
What are popular – something that directly links to the project e.g.
- anything artistic from an arts campaign (the film or CD, the game, a design, photograph, t-shirt etc see Fused Magazine)
- the invention or innovation (the now famous Pebble campaign gave away a watch for the minimum $99 donation)
- a humorous touch where appropriate (see Bristol Improv at Edinburgh and my favourite Regretsky’s Big Book of Fabricated Folktales from Finland)
- a discount voucher for the community cafe
- a ticket for the raffle for an expensive item
- get a say in the project (see Symbology Clothing)
- food from a food related campaign (see Cheese and Crack)
- seeds from the community growing project (see Urban Seed)
- tickets to the event (see Young Rewired State and the Ancestor’s Trail)
- exclusive copies or priority booking (see Laughter Lines)
What makes a BAD reward
- a lack of creativity – that shows you just want the money
- a lack of gratitude e.g. just thanks on website, a tweet
- a small reward for a large investment
and why oh why are so many promising “eternal” gratitude?!
But your campaign can still offer well-chosen, interesting and creative rewards
and not reach your target
Because rewards are only part of your pitch.
The way to success is mobilising your social networks – before and during the campaign
Join me on an introduction to crowdfunding workshop
Middlesbrough 14 June 10.00 15.30
Workshop in partnership with Funding Information North East and Middlesbrough Voluntary Development Agency
Central Middlesbrough venue
Rochdale 26 June 09.30-13.00
Workshop in partnership with CVS Rochdale
Venue: CVS Rochdale, Partnership House, Sparrow Hill, Rochdale OL16 1QT
Crewe 3 July 10.00 – 15.30
Workshop in partnership with CVS Cheshire East
Venue:The Exercise Studio, Belong, Brookhouse Drive, Crewe