CrowdFunding Reward Popularity, Sample Rewards and planning road map

posted Apr 4, 2013, 3:38 PM by David Khorram

CrowdFunding Reward Popularity, Sample Rewards and planning road map 

Most Popular Reward is $25.00  but do not lose track of $100 rewards . 

                                                                                                              




Offering 


Offer something tangible: “Rewards can be a powerful incentive that convert people to fund and support your project,” says Kulik. For now, unless you’re an accredited investor it’s not legal to offer debt or equity in a company so you need to provide some other reward: a product or service in exchange for the money you receive. Have different rewards that are commensurate with the level of support given. While the average contribution on Rockethub is $75, you need to offer a variety of pricing options below and above that.

Offer Rewards of Real Value: I know, I know: How do you know anything is of value until your project funds? That's part of the trick, but really, if your project is valuable enough for you to attempt to make, then it logically follows that its parts connote an inherent value of their own. Scripts, props, on-camera appearances… you name it. In any case, as alluded to above, make sure that the value proposition favors you.

For dramatic features, it costs nothing to factor in personalized character names, walk-ons or cameos. (Just make sure you stipulate to any interested backers that they are responsible for travel.) For documentaries, you can send those aforementioned postcards from the road, offer work-in-progress screenings, or arrange a Skype or FaceTime group meeting with you and a subject. The makers of the buzzy indie doc Bronycon offered to interview two $5,000 backers in their film, while the makers of the "Victorian ghost story puppet film" The Mill at Calder's End will hand off some of the movie's puppets after production. Director Jennifer Fox offered artwork, jewelry and even a Tibetan chest to backers of her film My Reincarnation.

Nail a $25 reward: The $25 pledge is generally regarded as the most popular on Kickstarter, Indiegogo and most other crowdfunding sites. It's a modest, low-risk commitment for a backer who's intrigued enough to eventually want to watch your project but not intrigued enough to bid on a speaking part or some other top-shelf perk. Kickstarter success stories from the microbudget feature Paper Dreams to Charlie Kaufman's Anomalisa to the series Tornado Chasers all offered digital downloads of the completed projects at their $20 or $25 price points -- statistically, anyway, the runaway favorites of the rewards offered. The upside is twofold: The more backers you get here, the likelier your campaign is to sustain its visibility among crowdfunding site admins (who can feature you on their home page) and prospective backers alike. Better still, you can allocate more of your revenue to creation and distribution instead of filling time-consuming orders for expensive swag and other gimmicks.



Sample Rewards

When weighing reward prospects, be sure to research similar projects to see what resonates with fans. The overall distribution makeup and the individual items’ respective contributions to the campaigns’ bottom line are important to keep in mind. The following are example rewards you might consider offering:

  • The product itself. A copy of the item in question—and, potentially, one sold for a limited time at a steep discount. Be sure to calculate any associated costs and figure them into your pricing structure and funding goals.
  • Advanced or early access to the product or service. This may include advance entries for backers to prototype testing programs.
  • Enhanced versions of the product. For instance, autographed, deluxe, director’s cut and collector’s editions.
  • Merchandise and souvenirs. Besides “making of” books and autographed materials, you might offer posters, stickers, t-shirts, caps and other items that commemorate the project.
  • Behind-the-scenes photos, videos, and booklets. Items that show the people, concept work and other elements featured within the project—especially if there is a large visual component to it.
  • Opportunities to affect the project’s eventual outcome. Some film, book, music, TV, theater and video game projects allow backers to suggest how stories develop, the contents included in the finished package, and featured subjects or locations.
  • Making your backers part of the product. Several creative projects allow backers to be a character within the narrative, soundtrack or action itself.
  • Giving contributors credit. It’s always a good idea to thank your backers, but sometimes there are ways to do so publicly: within the product itself (e.g. Liner notes, book, or game credits) or at surrounding events. Be generous with donors.
  • Combined rewards. These rewards combine several other rewards into one or bundle several pricing tiers worth of incentives together. Many successful campaigns use an “all of the above” strategy, offering simple rewards at lower tiers and then add extras on top of them.
  • Exclusive access. Chances to meet people who are part of the creative team behind various projects or related notables (e.g. Actors, directors, musicians, artists, online celebrities, etc.).
  • Private parties, events, and occasions. Some projects offer special events as a reward to donors—usually at the highest pricing tiers. These may include invitations to exclusive launch parties, private events held in backers’ honor or private concerts.




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