Fundable University: Choose great rewards!

U Posted by Admin
\ January 17, 2014

Rewards can make or break whether a potential backer will pledge to your campaign or close the window. It’s important to offer incentives compelling enough to make users click “pledge.”

Provide value to your backers

Fundable requires startups to provide value for value, meaning that your backers should feel that they're receiving something they want or need in exchange for pledging cash to your campaign. Providing valuable rewards is a huge incentive for backers!

Choose at least three levels of rewards

While Fundable requires that you choose at least 3 levels of rewards, we don’t have set requirements on what those rewards can be. The three most common types of rewards are:

1) Logo swag

This type of reward includes t-shirts, mugs, hats, etc. These are typically lower-level rewards (between $5-25)

2) Pre-orders

This type of reward is simple. Backers are putting cash in first to get the product your company will make later.

3) High-level, creative rewards

These rewards range from bundles of pre-ordered items (think office packs!) to dinner parties, a visit from the founder, etc. These higher-level rewards are the most fun, so get creative!

Service-based startups can provide rewards too

Choosing great rewards for service-oriented startups can be tricky, but it is possible! Common rewards for startups offering intangible products are:

1) Logo swag

Same as above – everyone loves a cool t-shirt!

2) Discounts or early access

If your service isn't location-specific, backers may find value in receiving discount codes for your service in exchange for their pledges. Early access to your service is also a great incentive for early adopters.

3) Third-party items

Do you know a business owner in a related field? Partner with this person to provide tangible rewards for your backers. For instance, if you offer gluten-free consulting services a package of gluten-free cookies or a gluten-free cookbook could be great rewards!

Use related campaigns for more creative ideas

Still at a loss as to what your backers will want? Take a look at a few related campaigns and get those creative gears cranking!

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