Crowdfunding Reward Tiers

In Crowdfunding by admin

How do I determine rewards for my donors?

Gradual progression. Rather than having your rewards jump from $10 to $60, include a reward tier in-between for backers that might not be able to afford the higher tiers and still want to support your project.

Early bird specials. You can use early bird specials to reward backers who pledge early for your campaign. You can also use these specials to create a sense of urgency and encourage backers to take action now rather than later.

Market them separately. Market your reward tiers separately because the person that backs you at the $1 or $5 tier likely has different motives than the person who backs you at the $30 tier or the $200 tier. Some backers may just want to support your campaign. Others may want to own the product you are creating.

Involve the backers in the creative process. The purpose of reward tiers is to involve your backers in the creative process and convey a sense of ownership in your project. Give them the ability to have an impact on the outcome of your project, be it letting them name characters in your novel or write a piece of dialogue for your screenplay.

Use limited edition rewards. It’s true that these types of rewards seem “special” or create a sense of urgency, but they are also a great way to thank your backers for supporting your campaign.

5 Crowdfunding Video Best Practices

Keep it under 3 minutes. Our attention span tends to drift even at 2 minutes.

Include an attractive thumbnail. You never know where you video may be embedded on the web. Having a great thumbnail can mean the difference between someone clicking “play” or closing the browser window.

Change the camera angle on your video. I’d recommend changing the camera angle/view either every 30 or 45 seconds to keep potential backers engaged. For example, you could turn to face a new camera angle or cut to a demo of the product. It keeps the video interesting.

Don’t just focus on the product. Provide some insight behind your dreams and vision for the product. Why are you doing this? What are you passionate about? Also be sure to include tidbits that emphasize your credibility. Why can you pull this off?

Don’t just focus on yourself. Highlight why these rewards are compelling to backers. How will this product change their lives for the better or what problem does it solve in the world? What value are you going to be delivering to your supporters through this project?