Types of crowdfunding rewards

March 5, 2020 Kaye Symington

Crowdfunding rewards, what should actually offer your backers, here’s a little guide from Paved With Gold on the things you should be considering. The rewards help you tell your crowdfunding story further, they can bring people along on the campaign with you. More on that on our previous Guide to Crowdfunding Rewards.

The Thing

You know this already, but the number one thing you need to focus on is gathering support for the thing you’re actually crowdfunding, it’s what the vast majority of people will be backing.

Merchandise

T-shirts, tote bags and pens. Unless they are the idea that you are launching, or you are incredibly established, then it’s best to avoid ‘the swag’. It can become more of a logistical nightmare and takes you away from what you actually want to be doing.

Digital Downloads

Instead of sending something in the post perhaps there is something you can send by email. Things like a curated Spotify playlist or perhaps a printable sheet to colour in for the kids. These are perfect for the £15-30 mark, for people who just want to support you or your mission.

Tip: This option is a perfect opportunity to share about your brand. Rather than a bunch of songs you like (I’m sure you’ve great taste), think about curating a playlist around a theme. For example, if your project promotes better sleeping then put together a list of tracks to calm listeners before bedtime.

Be part of it

Invite folks to support your campaign by giving them an opportunity to be involved. They might get a character named after them, feature in a video trailer or have the opportunity to try your product first before anyone else.

An experience

You and your team are, no doubt, experts in what you are making. If there’s an interesting workshop or activity you can offer then that’s another great way to get involved and supporting. It’ll also make for great content to share and you’ll have the opportunity to meet supporters who share your passion.

Multiples

If you’re crowdfunding a product, then sometimes it might be an idea to include the option to buy two, three or more. This works particularly well if your product makes for a nice gift or if supporters might have use for more than one in different places.

Tip: Sometimes it’s worth holding this back and releasing the option for multiples during the middle of your campaign. For example, if you reach your goal you might be able to offer additional units at a better price.

Bundle with add-ons

Some folks just want it all! If your product has add-ons or accessories think about creating a bigger bundle at a better price to encourage them to get ‘all the things!’.

Big supporters

If your project has a wonderful mission that people really want to get behind, or there’s someone out there who really believes in you, then you should consider including a higher reward. It could be something you’re making as a one-off or an opportunity to be part of something really exclusive. If it’s something really special sometimes you’ll get that equally special backer.

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Crowdfunding Coaching

February 12, 2020 Kaye Symington

Are you looking for a little bit of help with your crowdfunding campaign? You might have your campaign page created already and just need someone to check it over. Maybe you’re unsure about your rewards, or even how this whole crowdfunding thing works.

We offer limited 1 to 1 coaching sessions, where we can share our experience of running campaigns over the last 8 years and help you run your own successful campaign.

WHAT TO EXPECT

Our coaching sessions last for one hour, we can chat over Skype, or if you’re in London or Glasgow we can come to meet you in your studio, grab a cuppa in a coffee shop or meet us in our Glasgow office.

WHAT WE COULD COVER

No two meetings are the same, everyone we work with has very different needs and concerns. The sessions are entirely shaped around you and your project. Here are some things that we could cover in our meeting;

Introduction to crowdfunding + if it’s right for you
What you need to get your project crowdfunding ready
Which platform would suit your project
We can help you create a timeline to work to
Helping you understand your audience + how to reach them
If you’ve already created a campaign page, we can review copy, layout and video.
Keeping up momentum throughout your campaign
How to approach press + influencers

WHAT YOU’LL GET OUT OF IT

The knowledge and confidence to create and launch a successful crowdfunding campaign. We’ll create a timeline for your campaign, and share best practice campaign pages.

HOW MUCH DOES IT COST?

Each 1-hour session costs £150 + VAT. Get in touch to book your first session.

If you feel like you need more hands-on help, or need more than an hour get in touch and we can talk you through our crowdfunding services and flexible pricing.

“If you want to be good at crowdfunding and all the things entailed, work with Paved With Gold. Lovely people, extremely helpful, knowledgeable, and really supportive. These guys are the real deal.”

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Michael Nicholson, Co-founder, Bòtann Boots

Crowdfunding Rewards: What you need to know

February 5, 2020 Kaye Symington

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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Gold Nuggets from Special Projects

January 30, 2020 Kaye Symington

Special Projects are an award-winning product design and innovation studio based in London. They work with huge organisations and small startups to help them create products, apps and services that are completely different from the things that we use today. A lot of the work they do transforming these organisations is heavily under non-disclosure agreements, but they still show us the beauty of their work. Don’t take our word for it, check out their Instagram or website to see a world that is both calming and magical.

Last year, we chatted with Clara co-founder of Special Projects, to get her Gold Nuggets about their agency.

Tell us about yourself and Special Projects.

We are a London based design and invention studio. My background is in Product Design, Adrian's is in electronic engineering and magic (yes, he is a magician!). We met studying a mad inventor course at the RCA and never separated since.