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Tip – You need inspiring rewards

document Crowd Creativity, Crowdfunding

Tip – You need inspiring rewards
Posted on November 19, 2011 by anna

A main factor of crowdfunding successfully is creating compelling rewards that relate to your project. People want to give you money, and these rewards should inspire them to open their wallets and help. These should be creative and romantic, but not too complicated. We’re recommend 5 tiers of rewards tops, with a range of small to large (ranging from $5 – $500 dollars depending on the project size/scope). Want some inspiration? Here are some of the best rewards we’ve seen on the web to date: 1) Kris White wanted to write a graphic novel - The 36. He had a range of different rewards for his pledgers, but the one that captured the hearts of four big spenders was his offer to immortalize their names as a supporting character in his novel for the small fee of $1,000 each.

2) Ted Rall, an american journalist and cartoonist, needed $25,000 to get Afghanistan and write a book of cartoons on what was actually happening there. He spent a month there reporting on what he saw there, with regular cartoon updates uploaded via satellite phone. His comics touched on everything from taliban biker gangs to pizza. Who received these? The backers - of which he had over 200. Rewards ranged from a bast $10 for updates to $10,000 for drinks with him in New York once he returned.

3) Emily Richmond wanted to travel the globe by boat - 24,000 miles in 24 months - and her rewards ranged from an origami boat, to a sailor hat, to a polaroid taken in one of her many destinations and posted back to the lucky pledger. This polaroid reward inspired over 70 people to back her, and she managed to raise over $8,000 for her project. My personal favourite though, was her offer to mail a coconut ($125) from one of her island stop offs (though I imagine there may have been MAF restrictions on that!).

So hopefully this gives you an idea of what rewards you should try to incorporate around your project. It really can be ANYTHING - do some research, see what similar things have been done, but focus on your audience -- what would you spend money on if the tables were turned?

Summary
The main factor of crowdfunding successfully is creating compelling rewards that relate to your project. People want to give you money, and these rewards should inspire them to open their wallets and help. These should be creative and romantic, but not too complicated.

Description
Here's some of the best rewards, seen on the web :

1) Kris White wanted to write a graphic novel - The 36.
2) Ted Rall, an american journalist and cartoonist, needed $25,000 to get Afghanistan and write a book of cartoons on what was actually happening there.
3) Emily Richmond wanted to travel the globe by boat - 24,000 miles in 24 months - and her rewards ranged from an origami boat, to a sailor hat, to a polaroid taken in one of her many destinations and posted back to the lucky pledger.

Tags: Crowdfunding, Crowdsourcing, Knowledge

Posted by Fritz Schaefer

Nov 19, 2011 07:55 am GMT Viewed 2532 times

Author: anna Source

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