Is there something you’d like to create, but don’t have the funds to bring to life? Why not rally fans to contribute the money you need for it? That’s what Kickstarter is for. It’s a crowdfunding platform which allows people from all over the world to donate towards the accomplishment of a creative dream presented to them by people like you.
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More about Kickstarter
Founded in 2009 by a team of three, Kickstarter has become the favourite online spot for persons seeking to raise funds for creative pursuits. Whether it’s a documentary or comic book, tasty bars or video games, you’re likely to find enthusiastic backers for it on there—if they’re convinced by your pitch.
To date, Kickstarter has facilitated financial support worth $7.9 billion for over 250,000 projects. It’s gotten more than 94 million unique pledges too, a number that’s likely to encourage individuals and teams looking to fundraise on it.
How Does Kickstarter Work?
If you want to garner funds through Kickstarter, you’ll have to decide and then post a funding goal; that is, how much money you’re looking to raise. You will also set a limit for how long the funding campaign will carry on—usually anywhere between 30 and 60 days.
As a project creator, you’re expected to offer some kind of reward to people who contribute to your project’s success. The reward may depend on the nature of the project. For example, if it’s a product you’re launching, you could promise shipments at discounted prices. And if it’s video-based, you may want to include the names of your backers in the credits.
Note that Kickstarter takes an all-or-nothing approach to funding. This means that contributions are only remitted to project creators if they meet their funding goals. If they don’t, the funds remain with contributors.
Does Kickstarter Charge for its Service?
Kickstarter charges a 5% fee on contributions. In addition to this, you will also pay a 3% processing fee on each pledge you secure. However, these charges are not collected unless and until funding goals are met.
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How to Raise Funds for Your Project on Kickstarter
Now, let’s get to the nitty-gritty of actually raising money on Kickstarter. Here are five steps you can take to make it happen.
Decide on a Funding Goal
This is the first thing you’ll want to sort out. While there’s theoretically no limit to how much you can attract here, you’ll have to set a realistic goal for your project. What counts as ‘realistic’ is relative. We advise that you survey the site to get an idea as to what projects like yours are managing to raise. Something else you should consider: only seek backing for something that you can effectively solicit support for. There’s more on this below.
Pitch to the World
One staple for Kickstarter is the pitch video. It’s the part where you pitch your project to people who use the platform (or your fans who visit). If you’re going to draw in maximum funding, you’ll have to make your pitch as compelling as possible. Show your audiences why your project is worth backing, and let them know what they’ll be getting for their patronage. Ideally, your video should be anywhere between 2 and 5 minutes. Ultimately, it’s the content that matters. Just make sure to start in a manner that catches the viewer’s attention, and then keeps it.
Create Rewards for Backers
As we’ve already noted, there should be something on offer for people who support your project financially. Again, the nature of the reward will depend on the sort of project you’re working on. Here’s a tip: you’re more likely to pull in funds if you promise rewards for small contributions than if you try to incentivize larger monetary gifts.
Share Your Project
Kickstarter allows you to share your project with the wider public right from their platform. You could inform your followers on social media like Facebook or Twitter about your fundraising campaign, and provide a link to your Kickstarter. The more shares you generate, the better your chances of lapping up funding from your most devoted followers.
Network Widely
It may not be enough to simply post a project and share a link on social media. You probably have to spread the word about what you’re up to on other media, whether online or offline. This could include guest appearances on blogs read by your target audience or even word of mouth spread across gatherings where the kind of people who could back your project are likely to hang out.
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Final Words
Without a doubt, Kickstarter provides a unique and often effective way to raise funds for creative endeavours. But to get the most out of it, you’ll have to plan and execute smartly. Follow the tips we’ve shared here to succeed with your efforts at fundraising on that platform.
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