Hi everyone! Recently I have had the wonderful opportunity to back 3 amazing projects on Kickstarter. One for Tiffany Toland-Scotts Oracle Deck another is for Ash Evans Macaroon plush and the third is for a thing called Epic Grip Which is a titanium Pick for guitars and bass.
Since i have considered doing fundraisers in the past and have researched the 3 main places for that (Fundrazr, Indiegogo, and Kickstarter) I started actually looking at the different things that people who got their project successfully funded or nearly successfully funded did and those that have majorly failed have done. while i myself have yet to do a fund raising event I have learned something from what I have observed and would like to pass these along to you guys in case you may want to have a fundraiser yourself or maybe if you had one that failed and you are trying to figure out why it failed etc.
- Donation levels. I see a LOT of projects that the levels are not that conducive to the average person. Not everyone has $50.00 to back your project so when you go from $10.00 to $40.00 that can be a problem. I want to say the majority of projects that I saw have $1.00 donation levels which consist of a thank you and saying good Karma and then go up to $5.00 and increase every $5.00 to about the $50.00 level and from there to about $80.00 or $100.00 it goes up $10.00-$15.00 after $100.00 it can go up by $25.00 to $50.00 increments. You have to be realistic and while $5.00 may not seem like a lot to get you to where you want to be you are more likely to get more $5.00 donations then $75.00 donation. It adds up.
- Unrealistic looking goals… Honestly if you say you need $3,000.00 to create something or to accomplish something people are going to want to know why. Where is that money going and WHY do you need so much? What is that $3,000.00 paying for? You wouldn’t buy a $45,000.00 car or a $100,000.00 house without finding out what you are actually paying for… Backers are the same way. so if you need $3,000.00 to make x number of something break it down. If you HAVE to have a minimum order then let people know that.
- Rewards. I have to say looking at different projects and the rewards for each level either repeat several times for several different levels or the rewards don’t seem to justify the donation, I am turned off. If i see at the $5.00 level you just going to send me an email thanking me and at the $10.00 level your going to do the same thing and there is NO DIFFERENCE why would I give you $5.00 extra? Instead of an email for $10.00 your telling me you cant write me a thank you note and mail it? Really?????
- Lack of availability in a reward level. This is probably the biggest I see. If someone wants to back you and they only have $5.00 to spend and you are out of the availability of the $5.00 reward level chances are you are going to lose the backer. If a reward level fills up add more for that amount if you can.
- Lack of Updates. I have to say the Epic Grip looks like an amazing product and I am looking forward to seeing them in person BUT I almost didn’t back this project because of the lack of updates and lack of a delivery estimate. The project is 1 week away from finishing and there has been only 1 update the entire time. The successful projects I have seen have lots of updates with more information on the project, estimated delivery dates etc.
- BORING project page. I want to be excited about what i am backing. If you have a video or a mile long list of stuff I am going to be bored and click off. I want to read about your project and the goals and stuff fairly quickly. People make judgements VERY fast and if your video is a snooze fest of technical information and boring shots then guess what? your loosing people before you even begin. Also if the music you add to your project is not something that is gonna grab attention kiss your backers goodbye. There are actually several projects i have passed on for this very reason.
- Be PERSONABLE!!!! I am sorry but if you are talking all business and droning on and on, I am gonna get bored really quickly and lose interest. I already went through school I don’t need a science lesson or math lesson. I also don’t need to see pictures of things that are not pleasing to the eye. You want people to relate to your project and you not feel like their in a lecture hall. People are backing YOU as well as your project!
- Talk about it!!! I cant tell you how many projects I have never heard of then people whine and complain because their fundraiser failed. Well if you don’t open your mouth and talk about it how are people going to KNOW about it??? Use Facebook, Twitter and your blog! Get friends and family to talk about it, post flyers up in local businesses. This is ONE TIME it is okay to talk non stop about something!!!
- BE APPRECIATIVE! nothing is worse then funding or backing a project and then to have the person not be appreciative. At the very least issue an email (not a mass email) to say thank you, even if the project fails. It will leave a lasting impression and your first and last impressions are the most memorable.
- Stretch Goals. I see these but I cant say I see them a LOT. if you make your goal and yu get more backers then you need add a stretch goal and make it reasonable. like for every $500.00 or every $1000.00 for example. Let them know exactly what your going to do with that extra money. People don’t like thinking your just going to keep any extra that happens to be donated. They also DON’T want to hear about how the extra will go towards you putting an addition on your place or how you will put it towards a family vacation etc… Put the extra towards your project or even earmark it for your NEXT project to help make that goal.
Well guys that is my top 10 and that actually about covers all of it. Like I said this is just from what I have observed in looking at different projects and I hope this helps some of you!
Love Light and Stitchs!