How to Design a Perfect Pledge Reward Chart For Crowdfunding
It’s been a long time since I first started browsing crowdfunding projects and ever since then, my reaction towards the value of a project has always been influenced by the pledge rewards from the maker. Sometimes I am truly overwhelmed to see the amount of effort from the maker’s side to make those pledge rewards catchy and worth backing for while at other times, I am highly disappointed. The reason is pretty obvious. I don’t want to back for a project which begins with a pledge reward that sounds more like charity and less like what a crowdfunding pledge reward should be like. I think project owners are somewhere confused with the strategy they should use in order to attract more backers towards clicking on those pledge rewards.
By no means am I saying that a $1 pledge doesn’t work. It does but only if you don’t give back a key chain or a mention on some random “Thank You” list. Just like every other area of the campaign, this is an important section too. If you don’t put up a well balanced pledge reward chart, all that effort can simply be a waste. You can be straightforward or super creative but either way, you shouldn’t forget to make your backers feel special. These are the people who have faith in you and your project. Neglecting them isn’t really profitable!
But I am not here to make you feel negative at all. Instead, I’ll try and share some tips which can help you design a better pledge reward chart and build a stronger bond with your backers. Here’s what I’ve got:
1. First and foremost, I think you’ll get those perfect ideas only if you wear the shoes of your backer. What pledge rewards can draw you towards backing your project? If you have the answer to that, you need not read the rest of the article below.
2. Like I said before, a $1 pledge can be useful if you don’t make it sound like charity. Amanda Palmer & The Grand Theft Orchestra had offered a digital download of their album with bonus songs & Kickstarter-exclusive content for the $1 pledge. What did they get back in return? 4744 backers for that particular pledge alone.
3. Your rewards should offer value to your backers. Personalized engravings and limited-edition pieces are always good enough on the pledge reward charts.
4. Make sure your product is offered at a reasonable price to your backers (lesser than retail price). Like the breakdowns for super early-bird, early-bird and so on can definitely make them feel important. A super early-bird will feel good for getting the product at a better discount than an early bird backer and so on.
5. You can do collaborations and involve the backers in your project. This could be something creative like an appearance in your comic or a special quote from the backer engraved on your product.
6. Try to say your “Thank You” in a more personal way. Special cards, Skype calls or even a dinner with your local backers can build up a stronger relationship in the long run.
7. Don’t let the pledge reward be too elaborate but ensure to have a lot of variety. For example, creating a pledge reward for $1, $5, $10, $25, $40, $50 and so on isn’t really useful. Instead, you could break it down as $1, $25, $70, $125 and so on. That way, your backers won’t be confused with the pledge they should go for and can choose one based on their budget.
Note: According to Kickstarter stats, the most popular pledge amount on Kickstarter is $25, and the site-wide average for all pledges (big and small) is about $70.
Here are some projects that have had amazing rewards to offer.
Have more to add to the list? Share with us in the comments below. Happy Marketing!