Today I was stuck for a topic to write about
So I asked Twitter for some ideas.
A fellow serial backer got back to me with a really great question.
@katjnz why people looking for crowdfunding don't do useful rewards. e.g. Tickets to a show; augmented programmes; copy of the script.
— spring kris (@librarykris) September 18, 2015
@katjnz Also why some successful people don't follow up on their rewards. — spring kris (@librarykris) September 18, 2015
I give some great tips from a creator point of view in this post. But really, a good reward is about two things: being able to sell it to a backer, and being able to fulfill it at the end of the project.
So, from a backer’s point of view, here are the three types of rewards you should offer – and the one you shouldn’t.
Digital Rewards
I’ve written a lot about digital rewards in the past. Here’s why I think they’re awesome, and here’s a list of ways to distribute them.
Unless you are offering a very cheap product, anything priced under $20 should be a digital reward. They should be things that you create once, and can distribute simply at a low cost.
For example, Kris asked why she can’t get a copy of a script? This could be a PDF distributed to backers directly by email in less than 10 minutes.
Physical rewards
When I talk about physical rewards, I’m talking about products that are directly related to your project.
Physical rewards will need to be posted, delivered, or picked up, so think about that in advance.
It doesn’t have to be a product you are selling per-se. For example, Kris wondered why theatre projects don’t give augmented programs (perhaps even with a thank you to the project’s backers). Or you could give a physical copy of the script that’s been autographed by the entire cast.
In terms of price, anything at $25 or above can be a physical reward.
Experiential rewards
Experiences are worth the most! People love experiences – they create memories and stories. They can share the experiences with people they love.
A theatre ticket is an experience, and that could be priced low (I would always recommend $25, even if your show will be priced lower – you can add a glass of wine or backers-only cast Q&A if you want to add extra value).
But the gold in experiential rewards is you can usually get hundreds – if not thousands – of dollars for them. AND it becomes the backer’s responsibility to get to your location and experience them.
The more personalised the experience, the more you can ask for them.
The one reward we don’t want
Actually, I’m going to warn you off two rewards. Here’s an entire post on why merchandise is an awful idea. In short – it costs you a lot of money and time. The only exception to this is if you’re crowdfunding to produce merchandise in the first place (for example, the Red Peak campaign, or the RockEnroll campaign).
The other reward is the “thank you” reward.
To be blunt, that is a terrible idea. You SHOULD be grateful no matter how much money is being given. You should say thank you either way. Tagging me in a Facebook post with 20 other strangers is not worth $10.
You’re better than that. Send me a personal email with something interesting attached. Put my name on a public page of your website. Do not sell me a tag in a Facebook post. That’s what you do when you want your brother to see a funny video of someone lighting their farts on fire.
Final note on fulfillment
When you’re coming up with your rewards, consider how you will distribute them. Many projects have fallen over because they haven’t considered this before launching.
In my workshops, I shoot down ideas all the time because they’re impractical to deliver. It’s my responsibility to protect the backer just as much as the creator.
Your big ideas might sound amazing, but if you can’t get them to your backer, you’re only going to end up looking like a jerkface.
