Since its founding in 2009, Kickstarter has been the collective funding platform of choice for entrepreneurs.
Kickstarter is an alternative to traditional forms of fundraising; as such, it does not attribute ownership of projects with the funds, and only deducts a flat fee of 5% of the funds raised.
1. Establish the guidelines for the project we are aiming to launch
From beginning to end, well defined and fully explained. Kickstarter does not help you earn money to launch a project, but to earn money to complete a defined goal. You have to be specific and measurable about what you want.
Define a timeline that states how long the campaign will last and when the finished product or campaign will be ready. We can launch a 60-day campaign, but the most successful are 30 days. The momentum of a project always rises at the beginning and at the end. We have to find a middle ground between our timeframe and the focus of our target audience.
We have to make sure we give enough time to complete the project once we have collected the necessary funds. It is also very important to manage expectations with the backers so as not to delay the promised rewards.
You have to define the funding objective, for example: video production, travel, creativity, product. It’s an “all or nothing” investment project, which means that if you don’t get the money you expect by the date you set, you won’t get anything at all. So you don’t have to set unreasonably high goals, you have to set a real, transparent budget for your potential buyers.
This has to go hand in hand with your budget. You have to determine rewards in return to the investors once the funding is completed. The rewards have to be tangible and varied and should always be made directly relatd to the project funded. It is very important to estimate what each one deserves depending on the investment required.
The popular bid is $25 and the average is $70.
No reward – $20 – 35% success.
With reward – $20 – 54% success.
5. Vídeo – essential parts
Video projects are successful (50% – 30% more than others), so video is essential. State who you are, explain the story behind the project Where did you get the idea? What stage is it in? How do you feel? Ask people for help, explain why you ask for it and what you will do with the money. Talk about the rewards you will give, use pictures.
Explain that if you don’t reach the goal, we won’t be able to help these people have this opportunity, we won’t get anything and everyone will be sad. But above all, be grateful.
The thumbnail should be strategic, attractive (call to action): it will be the first image seen on the project.
6. Project page
IMPORTANT: transparency, we want money from people and they want us to connect with them, being transparent is essential.
It is necessary to define clearly and straightforwardly what we want and how we will reach the goal. This is what people want to know. Also explain why they should trust your project in order to invest and answer the questions people will have about the project.
Connect your community: use Facebook and Twitter and other Social media platforms to get visits and funding. This is key. Send press releases to media, start Facebook campaigns, use cross-media, encourage everyone to share…
It is very important to update your funders regularly, clearly and accurately, with information on how the project is developing. You can make public and private updates to increase visibility. Include videos and pictures of milestones, performance and development.
Ask for support on each update (the more you are exposed, the more chances of success) use any content you already have.
Do anything to complete the project, even if it is delayed, do not quit communicating with your audience, be honest and open to maintain trust.
To complete the project you must send funders their reward. Ask for their contact details and information. Ask for color, size, design or whatever is related to the reward. Kickstarter has an Excel to store this information.
The hardest part is for investors to get their reward, so that’s the part where you have to be most cautious. There must be clean communication in every part and step of the reward: survey, shipping costs calculating location, weight and size, printing labels, packaging, transport and mailing.
Set a deadline, set a work schedule and get to work on it right after you finish reading this post. Keep in mind that you will need at least 3 weeks to launch.
You can get it done any way you like, but you can certainly get your project off the ground using Kickstarter or another similar platform. The only thing holding you back is you.