Crowdfunding rewards have an important place in your campaign strategy. Rewards that attract your audience and present the idea behind your project will increase your campaign success substantially.
You have a brilliant project to be funded. However, everyone may not have the power to pay the price you set for your project. Still, they may want to support it with small amounts, letting your dream come to life. At this point, it is critical to choose the right rewards.
Here are some suggestions for you to consider in this regard:
Know Your Audience
Crowdfunding campaigns can be thought of as pitch presentations, targeting a large group of people. Entrepreneurs who comprehend their target audience can increase their chances of letting their messages pass and thus reaching their goals.
Once you have analyzed the masses correctly, divide them into different groups and set individual group prizes. For example, a younger audience may enjoy something like a t-shirt or sticker with a logo or icon on it, while a more general audience might be more attracted to a mug or keyholder.
After setting your target audience and preparing special rewards for them, it is time to choose the right prices for these rewards. It can be a good choice for starting from $25-50. But as you increase the price, make sure that the rewards reflect those values.
T-shirts, hats and key chains are the most popular and risk-free rewards that most campaigns set. However, it may not always be the best option for every campaign.
You can also choose creative rewards that will surprise your supporters and push them to share your campaign on social media. It is up to you to determine impressive and creative rewards you can match with the idea and story behind your project.
Deliver On Time
The entire process of delivering the rewards to the backers can become a complex process full of challenges. You may encounter unexpected problems, arising from manufacturer or cargo firm that you can do little about. Keep track of the entire delivery process and be prepared for the possibility of a problem.