Be Successful on Kickstarter

Kickstarter is an online threshold pledge service that allows you to post a creative project and receive funding via donations from other users. The site is a part of a new wave of similar donation services called “crowdfunding”. If project creators do not receive 100% of their funding goals, no money changes hands and the project is cancelled. This article will walk you through the best practices for reaching success on Kickstarter.

Steps

  1. Review Kickstarter project guidelines and requirements. These can be extremely helpful for learning what types of projects are typically successful on the site. The most important aspect of starting a project is making sure there are “definable expectations”. Donors should be able to clearly understand the goals and expectations of your project.
    • Kickstarter does not allow funding of charities, causes, or general business projects. The site is strictly for creative projects for artists, designers, writers, filmmakers, illustrators, and musicians. You can learn more about How to Start a Project on Kickstarter here.
  2. Offer rewards to attract donors, which are required when posting a project on Kickstarter. Many donors will be encouraged to donate to your project if you are offering interesting, once-in-a-lifetime rewards. For example, most rewards will be something associated with project such as copy of the CD, painting, or illustration etc., you are creating. The more creative you are with offering rewards, the more donors you will be able to attract.
  3. Tell a compelling story. Most people that donate to projects on Kickstarter are compelled to do so because of the story behind the project and project creator. People want to have a good idea of whom they are donating to. Providing potential donors with info on who you are, what your ideals are, and what exactly your goals for your project are will greatly increase the chances of encouraging donations.
  4. Split project funding into stages. If your project has distinct stages of development, you may be able to split funding into multiple projects. This can make it easier to reach funding goals for each stage of your project. #*This is can essentially allow you to extend the amount of time your project is able to receive funding and also allow you to start creating the first stage of your project to use as incentive for potential donors during the next stage.
  5. Set realistic funding goals and deadlines for your projects. All projects on Kickstarter have a dollar amount funding goal and a time limit from 1 to 90 days. Don’t just expect to receive your funding in 1 or 10 days. If you are realistically able to wait the full 90 days before starting your project, that will be your best chance of receiving 100% of your funding goals. Remember, no money will change hands if you do not meet your funding goals.
  6. It is also necessary to set a realistic dollar amount. Setting your dollar amount too low may scare off donors who are unsure whether the funding is enough to actually complete the project. Setting it too high may result in not being able to fulfill your funding goals.
  7. You can start as many projects on Kickstarter as you want. If you are not successful with one idea, you may be successful with another. While you can only submit one project at a time, you can have multiple projects on the site at once.
  8. Create a first-person video and answer donor questions; people like feeling like they know whom they are donating to. Some potential donors may be unsure of who you are and not full confident in you as a project creator.
    • This is why it can be extremely helpful to create personal, first-person videos introducing yourself. It’s also important to answer any questions that potential donors may ask you. If donors ask you questions and you do not respond, the chances are they will decide not to donate.



Tips

Warnings

  • If you do not raise 100% of the budget set for your project, no money will change hands and donors will be refunded.

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Sources and Citations

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