Go to https://www.udemy.com/go-to-crowdfunding-guide/ for the full course.
Full subtitles available in this youtube video and the course itself.
Now we’re going to go through the rewards and the perks. You have
to adapt to your target. You have a very definite product with its
specs, but you have to think in terms of who is going to get it.
First, think about the purchasing power. What budget do they have?
Second, the motivations. Is it about getting the product? Is it
about joining a community? Or maybe it’s about supporting a cause.
Next, for the higher levels, you can think about prizes that
attract companies and organizations. They have more purchasing
power, so you have to adapt accordingly. The number of perks that
we recommend is from five to ten, so seven is a very good number at
the beginning. After that, for every custom platform you can add
There are three categories of perks. The first one is
acknowledgement. That can be a thank you on Facebook, on Twitter,
or maybe just postal cards that you are going to send by mail. The
second one are products. That means shipping the product itself to
the person backing, or maybe it’s a variation. That can include
different colors, different combinations. You can also do premium
versions of the product itself.
A second category for inspiration is experience. That means
inviting the person to your office, include them into the design
process, or any other unique experience that you can offer. The
most popular perk is twenty-five dollars. That’s something that
really have to think about.
Also, one thing that we recommend, is think how to give visual
rewards instead of physical rewards. Why? Physical rewards needs a
lot of logistics. Visual rewards in itself, that’s something that
you only have to produce once, and then you can email, or maybe
share online very easily. That means you don’t have any other
Here are three good examples. First, in terms of acknowledgements,
you can see here Ouya. For $10 you can get a special thanks from
the team. That was a very popular perk, and then that made them get
the word out. The second example that I like, is the Oculus Rift.
You can see here that for $300 you can get a discounted price off
the special glasses. That also made the company very popular.
In terms of experience, I like to showcase the Spike Lee cuts from
the movie campaign. So for $10,000 Spike Lee, the film maker,
offers to invite you to his house in New York City, spend the day
and evening with him. He was offering to cook for you. That’s a
very unique experience that nobody can get. If you don’t have any
inspiration, those are a few tips that we recommend.
There’s the product and the variations of the product. You can also
include into that advance or early access. Most people, for
example, at a different price, you can access the better version of
the product. You can also offer enhanced versions. That includes
accessories, that includes a different color, but people are going
to be able to pay a premium to get that product.
You can also offer merchandise and souvenirs. I mentioned postal
cards before, but can also be screen savers, clothing. Whatever
that fits what you’re doing. Behind the scenes photos, videos, and
booklets are also very interesting. We’re thinking about if you’re
doing a video game, you can do a nice booklet that you’re going to
offer to the fans.
One thing that you can do is offer your backers participate and
choose content. If you’re doing a comics book, you can offer them,
for let’s say $500, to be part of the story adventure. They can
have a part in the story. You can also offer them to be part of the
product themselves. You can give contributors credit.
One of the recent custom campaigns that we did was have a unique
page on the website where they can have their name, the name of the
company. That’s really good for them when they want to not just buy
the product, but be part of the project themself.
We can combine rewards. The more people that contribute, the more
they get acknowledgement, the more they get products, and the more
they get experience. One last thing is private parties, events, and
occasions. If you’re doing a project, you can organize a launch
party. Invite everyone to be part of that launch party.
Don’t forget about budget and basic accounting. In the perk price,
you need to include the production costs, but it’s a little bit
more than that. You also have to think about delivery costs. Talk
to the major shipping providers, then negotiate something that’s
interesting for you. You also have to include all the platform and
payment fees. That depends on Kickstarter, Indiegogo, the plan that
you’re using. Make sure that you include that. Also the payment
After that, think about what is the markup? So in that, it includes
all of the marketing costs, the video costs, all of the salaries.
That can be a really good portion of your product, so make sure
that you don’t forget about it.
The worst thing that can happen to your project is that you only
include the production cost. And then at the end when you finish
designing, when everything is set up, you will discover that you’re
actually not profitable and you’re actually losing money. There is
no incentive to actually deliver backers what they were asking for.
Of course you need to benchmark a little bit, what other people are
offering for the same price. Think a little bit about what value
perceived of what you’re offering. You can also imagine different
scenarios for different pricings. How many people are going to
contribute to that? That plays into the number of items purchased.