Kickstarter – everything you need to know
If you have an amazing idea, Kickstarter can help make it come true. This crowdfunding platform attracts many people who want to raise funds for their small business or handy invention. Also, it allows people to publish a web page where people can see their creative ideas. This will help you meet potential backers.
It’s up to you whether they will provide financial support, so you should know how to convince people to fund your project. This is no easy feat, as the internet has thousands of crowdfunding campaigns. This means your project must also stand out among the rest. Fortunately, I can guide the first steps of your Kickstarter campaign.
I’ll (kick)start by sharing more details about this online crowdfunding site and explaining how it works. Then, I’ll go through each step to launching a Kickstarter campaign and talk about how you can excel at each one. This will take a lot of time, money, and effort to pull off, but Kickstarter can help you get your creative project off the ground!
What is Kickstarter?
As I said, it’s a website that helps creative individuals take the bold step of realizing their ideas. Kickstarter lets them have a web page dedicated to it.
That is where they can share the story behind their project and persuade other people to give even a small amount for it. In other words, Kickstarter also helps them raise money.
Also, the campaigner should provide rewards each time funding reaches a certain amount of money. This assures backers that their investment is worth it.
If you also have a great idea, you might already promote it on your social media page. However, you have a better chance of gathering funds from Kickstarter.
That’s because most people who visit it are looking for promising projects. In other words, visitors already have an interest in funding a campaign. You just have to make sure it’s yours!
How can I start a Kickstarter campaign?
- Plan your Kickstarter project
- Launch a great campaign video
- Provide campaign rewards
- Continue updating and promoting your campaign
- Go beyond your target
Read More: How COVID Sparked A Startup Boom
#1. Plan your Kickstarter project
A successful Kickstarter campaign starts with a mission and vision. What do you aim to achieve with your project? Do you need capital for your new product, service, or business?
Write the details down on a piece of paper or your favorite note-taking app. Jot down important details such as what your project or service does and how it can help others.
After that, you will have to get into the “why” of your project. What are your reasons for wanting to make your ideas come true? Recall how the concept came to your mind.
In business, the details you just wrote down make up a company’s vision. It’s a necessary step in persuading others to support your project.
If they cannot understand or relate to what your project is about, then it will likely be a bust. Next, you should figure out how you’ll reach that vision.
Let’s say you want to launch a unique boba shop. The first $10,000 could be your starting capital. You should match each amount raised with the progress of your project.
The next thousand dollars might pay for ingredients, equipment, or furnishings for the boba shop. Those are examples of funding goals, and it’s best to offer rewards for each one.
This increases the chances that your backers will stay and perhaps even provide additional funding. Also, it encourages more people to support you as well.
You could say these short-term goals make up the mission of your Kickstarter campaign. These details are the most important aspects of your project page!
#2. Launch a great campaign video
You could dump all the details of your campaign at the front and center of your Kickstarter page. Of course, people will likely be turned off by a wall of text at the get-go.
A better way would be to have a cool video introducing your campaign. It’s much more fun to look at, and it’s more likely to resonate with visitors to your page.
It would be great if you had video-making and editing skills. If not, you might want to request help from someone who does. These presentation apps could help you too.
#3. Provide campaign rewards
I’ve already said that your funding goals should offer backer rewards, but what can these incentives be? Here are some ideas from Kickstarter itself:
- A video tour of your startup’s new location
- A cooking class featuring your new boba smoothie
- You could let a backer interview you in a podcast
- Send backers a sample of your project
- Give naming rights to your top-tier supporters
For more rewards ideas, click here. Note that there are certain items that the online crowdfunding platform doesn’t provide, such as financial rewards.
#4. Continue updating and promoting your campaign
Launching a Kickstarter project is a hands-on job. You will have to make sure to notify backers of its status. This means having other social channels besides your project page.
You might want to have a Facebook and Twitter page for your campaign. Those will spread the word about your project to a wider audience and provide a forum for your backers.
Such discussions help you foster a community of dedicated backers who will be committed to seeing your project reach completion. They might even bring in new supporters!
#5. Go beyond your target
Eventually, you will reach the total amount your project needs. Once this happens, you will have to pay Kickstarter. If you’re from the US, here are the ones you’ll get:
- Kickstarter fee – 5% of total funds raised
- Payment processing fees – $0.20 for each pledge + 3%
- Discounted micro ledge fee – For pledges under $10, you will have to pay $0.05 + 5%.
This is how Kickstarter makes money. If you’re from another country, go to this website to see the payment structure that applies to your region.
Moreover, you should stay true to your backers by continuing to update them about your project’s progress. It’s only fair since they’ve dedicated time and money to your campaign.
This is why it’s a good idea to learn about blockchain and cryptos. Fortunately, Inquirer USA has numerous articles that provide all the info you need about these topics.