Compelling rewards are essential to a successful rewards crowdfund. Before starting your fundraise, its important to think through the audience that you're hoping to attract and create great incentives to catch their attention and gain their support.
Why offer rewards?
You'll want to provide meaningful rewards to campaign backers in order to increase your chances of success. Product-focused rewards are also a fantastic way to acquire life-long customers and obtain raving reviews and testimonials.
What's a meaningful reward?
While Fundable requires that you choose at least 3 levels of rewards, we don’t have set requirements on what those rewards must be. Rewards typically fall into one of the three following categories:
Pre-orders. This type of reward is simple. Backers want to be the first to receive a new product that your company will offer.
Services. Backers exchange funding for a service that your company will perform once it is off the ground.
Branded swag. This type of reward includes t-shirts, mugs, hats, etc. It’s hard to get backers to pledge more than $20 for a t-shirt or mug, so these are the best types of rewards for lower reward tiers.
Set your reward tiers
Make sure to select realistic rewards that you can deliver without losing money. For example, your rewards could look something like:
- $10 for a company logo t-shirt
- $40 for a pre-order your company's product
- $80 for two pre-orders of the item (one for the backer, one for their favorite friend)
- $150 for a specialty package and product
- $1,000+ to create an opportunity for a larger donor who'd like to offer stronger support