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

crowdfunding rewards refusal

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. 

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

why?

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


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