LinkedIn, over the years, has become one of the best social media platform for B2B…
Do you have a project that you will want to raise some money for? Are you considering using Kickstarter to get the funds?
Now, if you have not heard of Kickstarter then here’s what Wikipedia have to say about this innovative crowdfunding platform:
“Kickstarter is a global crowdfunding platform based in the United States. The company’s stated mission is to help bring creative projects to life. Kickstarter has reportedly received more than $1.5 billion in pledges from 7.8 million backers to fund 200,000 creative projects, such as films, music, stage shows, comics, journalism, video games, technology and food-related projects.”
Simply put, Kickstarter helps you get the much needed funding for your project, whatever that project is!
It’s really quite simple. As a business owner, you create a product. Then, you ask your community to fund it by donating money towards its completion. You set a target, and the money is only taken from your donors if you hit the target. Every donor gets a reward based on how much they pledged. It’s up to you to come up with the unique rewards and compelling pitch!
Frankly, it’s a great new method to get your startup off the ground!
Over the last few years, there have been some fantastically successful Kickstarter campaigns. One of such is Oculus Rift, the company behind the most anticipated virtual reality headset of all time. After raising $2.5 million, the company was subsequently bought by Facebook for $2bn.
Another big success with Kickstarter is Scrubs actor, Zach Braff who famously funded his latest movie through Kickstarter.
If you’re considering using the platform to raise money, here’s how to get the best from your campaign.
Long Planning Time
The key to a successful Kickstarter project is laying the groundwork. The campaign itself may only be a month long, but good campaigns have a year of work preceding. This will be spent honing your product and building an audience. You need a community that are eager to help you fund your campaign and a groundswell of buzz. A Kickstarter campaign consultant can help you establish this behind-the-scenes aspect of the launch.
Take it slow, this is the most important part of the campaign.
Explain the Budget in Detail
Once you’ve chosen your target number, create a detailed budget. Tell your donors how exactly you plan to spend their money. People like to know what they’re contributing to. They’ll also appreciate a small justification of the target amount. Showing a detailed breakdown of costs will encourage more donors and larger numbers.
Lots of Small Rewards
From my research, the average donation is $25. You’ll get one or two big donations, and you can tie fantastic rewards to those amounts. However, most of your pledge money will come from smaller donations. Ensure that you have created lots of exciting smaller rewards to keep those numbers coming in.
You’ll have to get creative here. Check out some of the most clever Kickstarter rewards for inspiration.
A Great Video
A great video is perhaps the most valuable asset in your campaign. Videos are the most digestible, and most shared form of content online. If you hope to ‘go viral’ or reach your target audience, you need a good video. It should show off your product at its best. It should intrigue the viewer and convince them to donate towards your cause. It’s often worth collaborating with a professional to get the best results here.
With the right planning and a brilliant product, you could be the next big Kickstarter success story. People love to gather around a cause and help support a great idea. If you’ve executed a successful Kickstarter campaign, I’ll be glad to hear your success story. Feel free to share your tips in the comment section below!