Crowdfunding campaign rewards are some of the most important aspects of your campaign, because they bring in the money! But even beyond that, they solidify the bond between the campaign and the backers, and keep them emotionally invested in your idea.
It’s no secret that the more involved people feel in a project, the more likely they are to care about it. Create something personal that only backers will receive to make the rewards feel exclusive to the crowdfunding community.
Give them a chance to be part of the inception of your idea. When your idea gains traction, backers will feel proud that they contributed to it, and you’ll gain both an advocate and someone who can bring more supporters, too.
Rewards are super powerful, but you’ve got to be careful with how you handle them, too. If your rewards aren’t appealing, readers will lose attention; but if you have rewards that are too expensive (or if you overwhelm them with too many), even if they’re all interesting, you’ll likely lose your audience. So how do you come up with effective, profitable, and affordable rewards?
The big secret: just put yourself in their shoes. Remember that they’re receiving and choosing the rewards, not you. You’ve got to consider that the crowd isn’t a group of angel investors, nor is it your family. It’s just someone with a little bit of money to burn who’s browsing through the internet looking to spend it on something cool, not break their bank. What do you think they do outside looking at your campaign? Try to use that as a guide for their interests, and for what else they might enjoy seeing. So if you can give them something compelling and interesting to spend it on, you’ve probably got yourself a backer!
Be careful when it comes to physical rewards like t-shirts; the cost can add up pretty quickly. Rewards don’t have to be tangible! They can be as simple as a social media shoutout or thank you card
If you do choose to use physical rewards, ensure that you’ve done all the necessary calculations to make sure you’ve put them at the right price point. Also, going back to researching your audience, make sure that whatever swag you create is something you know your backers will use, something more personal to them based on their interests. They’ll like it more, they’ll use it more, and they’ll be more proud of their contribution.
If your idea is a tangible product, offering a prototype or a presale of your product is obviously a great idea, because you should already have all the resources necessary to produce those--no outsourcing necessary! You shouldn’t end up in the red from selling your own product, and you’ll gain some valuable publicity and feedback once people are using it.
In terms of crowdfunding, rewards are the most important part of a crowdfunding campaign; they have the power to take your campaign from 0 to 60. Use them wisely!