We’re often asked lots of questions on how to run a successful crowdfunding campaign so we’ve decided to start sharing more to help you bring your projects to life. We’re going to start things off with one of the most important aspects of crowdfunding - the rewards. Here are some things to think about to help you put together a great set of reward options for your campaign.
Shipping
Decide what countries you’re shipping to. If you’re planning on sending all across the globe then you’ll need to understand shipping costs per country or region. To get that you’ll first need the size and weight of each package you’re sending out.
If you’re shipping in the hundreds or thousands you can work with a fulfilment partner, here’s some that Kickstarter recommends. For smaller batches that you’ll be mostly handling yourself, you can get pricing from Royal Mail or chosen courier service. On Kickstarter, you’ll be able to add a price for your reward and then shipping per country or region on top.
Tip: Do this early as possible. It can take some time to work out packaging and then delivery costs. This is often one thing that can cause delays on the lead up to your launch.
Limit availability
For each reward, you should consider whether you want to set a quantity limit. For example, you may only have enough materials to make 100 units, or your manufacturer may only have the capacity to produce 1000 items in the time you’ve promised to deliver to backers.
Tip: Don’t over-promise and let down backers. You can increase quantity limits during your campaign, which is useful if you know that when you reach a certain milestone it’ll allow you to order more materials or hire more people to help you make more.
Keep it simple
You should aim for between 5-7 rewards. This gives potential backers enough options to support at various levels. Having fewer options also makes it easier for folks to make a choice and support.
Tip: Don’t try to please everyone! You’ll get many suggestions for reward ideas, choose the best options and communicate them clearly, but don't try to do everything. Remember, crowdfunding is often about focusing on getting your first batch into production.
Benjamin Brush - Family pack in 5 different colours
Upsell later
Once you’re comfortable with the support your campaign has received it is possible that you might have more options to add in the middle of the campaign. A limited edition colour-way or multi packs.
Tip: Once a backer has already pledged for one, it’s easier to offer them something a little better or perhaps to consider getting one for a friend. This can sometimes be supported by the success seen as your campaign grows so think about whether it’s a good idea to keep certain rewards under wraps.
By considering all these possibilities it will help you create a solid plan before you dive deeper into thinking about the type of rewards you want to create. If you thought this was interesting then you’re in luck! We’ll be sharing another post on the different types of crowdfunding rewards you can include.
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