If you've looked into crowdfunding, you've more than likely come across Kickstarter, which many consider the original crowdfunding platform. Kickstarter is well known for personal projects rather than charity fundraising, and can be a great source of startup capital for a new business or product.
Setting up a campaign on Kickstarter is simple. With a few easy steps, you can begin a campaign and start crowdfunding to support your business idea.
*Know Before You Go: Kickstarter is based on an all-or-nothing model. If your project doesn't reach its intended goal, your donors won't be charged and you won't receive any of the funding you raised. This is why it's extremely important to set a realistic goal and timeline for your project!
Step One: Create Your Project
Get started with your Kickstarter campaign by choosing a category and title for your project page.
The categories you can choose from include Art, Music, Fashion, Design and more. Your title should be catchy and descriptive.
Step Two: Add Details
Once you've categorized your project and titled your campaign, you'll want to add photos and descriptions to entice donors and provide answers to their questions.
Choose an image for your main picture that is clear and relevant. This will be the first thing people see, so use professional photos when possible.
Your project blurb is your chance to answer questions and describe your idea. You should give details about what you're making and why. If you're making something or producing art or music, a video can be helpful to include to give others an idea of the finished product. Make sure to include an idea of your schedule and where contributors' money will be going.
It can also be helpful to look through past campaigns in your category to get an idea of the photos and descriptions that make a campaign successful.
Here you can also add project duration and your overall funding goal.
Step Three: Set Rewards
Kickstarter works well as a reward-based platform because people are usually donating for a future project, and their donation secures an early delivery if you meet your goal. You can also reward donors with unique experiences or limited editions, as well as other brand-based incentives.
If you're not sure how to create a rewards system, here are a few good rules of thumb:
- Price fairly for the product or experience you are offering—what would you expect to pay on the market?
- Remember, the most popular reward pledge amount is $25
- Use the shipping tool to add delivery costs
You can always ask your backers or community for feedback on the kind of rewards they would pay for.
Step Four: Add Your Biography
If you want to build your brand in addition to raising money for a project, you can add details about yourself to your campaign.
This helps build trust with potential donors as well as adding another layer of promotion.
Step Five: Submit your Bank Information and Submit
To complete setup of your project, you can link your personal banking account to receive donations. The Kickstarter team reviews each new campaign and approval can take up to 3 days.
Once your project is approved, you'll want to start promoting over social media and within your own circles. Make sure to expand your reach to current and new fans and via as many platforms as possible. Friends and family are a great source of word-of-mouth marketing too!
Creating a Kickstarter campaign is easy and quick, and can be one of the best ways to crowdfund your new projects and build your community.