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Table of Contents
Tips for Crowdfunding Success
....................................................3 General Principles for Being Successful
.......................................4 Brainstorming & Designing Your Project
.....................................5 Project Video Tips
........................................................................8 Reward Tips
...............................................................................10 Digital Product Tips
...................................................................12 Tips on Promoting Your Project
................................................13 Appendix & Additional Resources
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Acknowledgement
Many of the tips are excerpted from an excellent e-book by Nelson de Witt called A Kickstarters Guide to Kickstarter (http://kickstarterguide.com/A-Kickstarters-Guide.pdf).
Project Length
We offer project lengths from 21 days to 90 days. Your rst thought when choosing a duration for your project is the longer the project the more time you have to reach your goal. At rst glance this would make sense, but the data says otherwise. Kickstarter looked at over 24,000 projects and found that the overall success rate for their projects was 44%, however for projects that were 90 days (their maximum time) the success rate was only 24%. This realization made them shorten the max time to 60 days. Specically this is what they found: This doesnt mean that those longer projects failed to reach their goal because of the longer funding period, or that choosing a 30-day (our recommendation) duration would have caused them to succeed. Rather it means that choosing a shorter duration better positions a project for success. The following graph, which represents every pledge ever made on Kickstarter in relation to when in the projects lifecycle it occurred, explains:
Here the horizontal axis represents the projects timeline from beginning (the far left) to end (far right) and the vertical axis represents the frequency of pledges. As the graph illustrates, funding tends to cluster around the very beginning and very end of a campaign. Theres a logic to this. When a project launches the creators most fervent fans rush to show their support. And as time runs out, people who have been sitting on the sidelines are motivated to nally take action. During the middle periods of a project pledging slows considerably. Its a trough. Without the excitement of the new or the looming deadlines call to action, projects need external stimuli (press, events, milestones) to generate activity. This is not always easy to do. What projects with longer durations are primarily doing, then, is extending the trough. A more compressed time-frame minimizes the slower weeks and places greater emphasis on the beginning and end. Theres an inherent momentum that carries a project through, and keeps backers engaged and excited. We believe shorter durations will extend that experience to more projects. - Kickstarter
Project Description
The project description is the main course of your project. Aside from the rewards and products you offer this is often your one chance to convince fans, followers and potential patrons to open their wallets and contribute to your project. A good project description will include each of the elements below:
Narrative
The story behind your project idea and why you are excited about doing it. A good narrative will answer these 4 questions that supporters are likely to have. Who are are you? What is your project? A description of the project, why you decided to do this, and what the end result will be Why is your project important? 6
Credibility
Establishing and demonstrating credibility is extremely important. No one likes to see their money wasted. Potential supporters want to know of all the people who have ideas, maybe ideas similar to yours, why you are the most qualied to see it through. Here are some ways you can establish credibility. showcase your past work, projects, or awards showcase prototypes or early versions if possible showcase other organizations, bloggers, or individuals talking about your work
Clarity
Keep things simple and clearly explain what your project is and what the result is going to be. Most people already have short attention spans so if they can't gure out what you are trying to do most likely they'll move on.
Call to Action
Every pitch should have some call to action. In other words you need to ask people to either purchase your products or pledge your project. Because of the nature of crowdfunding it's a tricky balance on how you can appropriately ask for support. Here are some tips: Don't ask for donations - while it might be tempting to ask it's good to remember that you are offering rewards that have real value. Let people know what their support gets them - whether it be a pre-ordering a product, membership to a site, a t-shirt, etc.. let people know what their money gets them in return
Capture clip
Just one look at this video, and you can tell how much he loves his idea and how much work went into creating it. He has a prototype that he has been working on for over a year. You can see he just needs a little help to bring it to life. You cant help but cheer for him as he has clearly spent a long time on this project.
The Manual
The video for The Manual, a magazine about design, is a perfect example of a clear pitch. It is short and to the point. You understand what the project is and what the end result will be.
Reward Tips
Kickstarters advice on Creating Rewards
Copies of the thing: the album, the DVD, a print from the show. These items should be priced what they would cost in a retail environment. Creative collaborations: a backer appears as a hero in the comic, everyone gets painted into the mural, two backers do the handclaps for track 3. Creative experiences: a visit to the set, a phone call from the author, dinner with the cast, a concert in your backyard. Creative mementos: Polaroids sent from location, thanks in the credits, meaningful tokens that tell a story.
Pricing Rewards
Pricing is sometimes denitely more art than science, but again we can turn to Kickstarter for their data and see what has worked in the past for their project creators. To date the most popular pledge amount is $25 and the average pledge is around $70. Small amounts are where its at: projects without a reward less than $20 succeed 35% of the time, while projects with a reward less than $20 succeed 54% of the time. So what works? Offering something of value. Actual value considers more than just sticker price. If its a limited edition or a one-of-a-kind experience, theres a lot of exibility based on your audience. But if its a manufactured good, then its a good idea to stay reasonably close to its real-world cost. - Kickstarter
Another Kickstarter successful project creator, Craig Mod, looked at the top grossing 20 to the 30 projects to see what amount was pledged the most. Below is what he found. The $50 tier dominates, bringing in almost 25% of all earning. Surprisingly, $100 is a not too distant second at 16%. $25 brings in a healthy chunk too, but the
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overwhelming conclusion from this data is that people don't mind paying $50 or more for a project they love. It's also worth contemplating going well beyond $100 into the $250 and $500 tiers: they scored relatively high pledging rates compared to other expensive tiers. Having too many tiers is very likely to put off supporters. Ive seen projects with dozens of tiers. Please don't do this. People want to give you money. Don't place them in a paradox of choice scenario! Keep it simple. Id say that anything more than ve realistic tiers is too many. - Craig Mod
Offbeatr Tips
Include as many high quality photos and images to accompany each reward Write clear descriptions of whats being offered and when it can be delivered
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Offbeatr Tips
Include as many sample photos and images of the product that supporters would be buying Write clear descriptions of what exactly they are getting (ie if the product is a video how long the video is, quality, whats featured in the video, etc...)
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Places to Promote
Social Media: Twitter, Facebook, Tumblr, etc... Youtube Email Mailing Lists Personal Contacts Related and relevant blogs and media Related and relevant forums
Promotion Strategy
Consistent and informative posts to Twitter & Facebook Emailing lists and contacts at start and near end of project period Reaching out to blogs and media during the entire project period Writing project updates through Offbeatr (to keep supporters up-to-date on progress and to gently ask for help)
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Additional tips:
Shorter = better If you don't hear an initial response send a follow up Focus on connecting with blogs media that make sense for your project (quality vs quantity)
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How to Pitch Your Films Crowdfunding Campaign to Bloggers the Right Way
http://www.theblackandblue.com/2012/02/15/crowdfunding-campaign-pitch/
Kickstarter Advice From The Guy Whose E-Paper Watch Raised $7.1M
http://www.fastcodesign.com/1669608/kickstarter-advice-from-the-guy-whose-e-paper-watchraised-71m
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