1 – What problem is the project you are crowdfunding going to solve?
We suggest that a good starting point for thinking of ideas for rewards is the very problem you are solving. You might be creating a service for people in a given situation, or a product to fulfil a given want or need you have identified. Either way, starting by answering this question will make it easy for you to put words on the value you have to offer.
2 – Who has the problem you are solving? Who will be interested in the solution you are creating?
Once you know what problem you are solving, find who you are solving it for: your target audience. This second stage is important because different backers will be interested in different things. Write a list of everyone who will be interested in your work and then organize them into groups so that you make perks which are appealing to each type of backer.
3 – How can you offer the solution you are creating as a reward for backing your crowdfunding campaign?
Now that you know what problem you are solving, what solutions you are creating, and who you are creating them for, all you need to do is figure out how to ship the solution to your backers. If the solution you’re creating will be interesting to different categories of backers (companies versus individuals for example) think about the wants and needs that are specific to each type of backer. Based on these, come up with ideas for delivering the value you are creating to the people who support you.
4 – What big step forward in your project will you take thanks to your crowdfunding campaign?
If your project aims for the long term and will not reach completion until long after your crowdfunding is over, it can be a good idea to offer reward that are directly linked to the big step you will take thanks to this campaign.
5 – What can you offer that will give backers a maximum of value while costing you the least money to deliver?
After listing the many possible rewards you could offer your backers, it is in your interest to sort through them and keep the ones that offer the most value while involving the least expenses on your side. Doing this means you will have as much money possible available for funding your project (as opposed to for delivering perks).
6 – How can you get your backers involved in the development of your project beyond the scope of your crowdfunding campaign?
Crowdfunding is a great way to raise money, but it’s also an amazing way of building a community around the work you are doing. If you are looking into crowdfunding there is a fairly high chance you also want to reach many people as possible and to turn them into end users of the product or service you are creating. The perks you offer can play a huge role in achieving this: if designed correctly they will be a way of letting users try out your solution. Therefore the rewards are your chance to “get people hooked” – to convince them once and for all that they want what you are offering in their lives. If you play it right you might even turn them into ambassadors of your brand who will keep promoting you for free.
7 – Who will be contributing to the solution you are building?
Most projects require the involvement of many people along their way to completion. Write a list of everyone who is going to contribute in one way or another, however small, to what you are doing. You can then talk to each of these people and suggest win-win agreements beyond the scope of their current involvement: some will be able to offer perks to your backers, while you give them exposure and therefore new clients in exchange. Others will help you by spreading the word about your work, as doing so is also an opportunity for them to show off their work, expertise and skills
8 – What other projects would you like to support? Who do you want to be associated with?
To take this concept further and build more partnerships for your campaign, you can build a list of people you want to support. Then offer them win-win agreements in which you promote each other, or ask them to sponsor you by giving you products you can offer as rewards to your backers.
9 – Do your partners want to communicate with your target audience?
If they do, you can offer them publicity as a reward in exchange for their financial contributions to your crowdfunding campaign. Before you do this we strongly recommend speaking to your partners about it to see if they are interested.
10 – Besides the main purpose of your project, what do you have to offer?
It is sometimes a good idea to offer rewards that are not directly linked to the main proposition of your project. We advise you to use this option sparingly however. The closer the rewards you offer are to the problem your project will solve, the more relevant they will be for your target audience.
[Photo credit: LendingMemo.com]