Kickstarter helps creators revolutionise the way their creative projects come to reality. It has empowered countless innovators and dreamers to turn their ideas into reality. At its core, Kickstarter is designed to connect creators with backers who share their passion and vision. Crowdfunding campaigns on Kickstarter harness the collective power of a community to support projects financially. Whether it’s a tech gadget, an art exhibition, a documentary film, or a unique board game, Kickstarter welcomes a wide range of creative ideas.
One of the remarkable aspects of Kickstarter is its ability to benefit creators and backers. Creators gain access to a vast audience of potential supporters, and backers get the opportunity to be part of something special from the ground up. It’s a win-win scenario where ideas flourish.
In this article, we’ll explore the mechanics of Kickstarter in detail, from campaign creation and funding goals to rewards and risks. So, if you’ve ever wondered how Kickstarter can turn your creative dreams into reality or how you can support exciting projects, read on as we uncover the intricacies of this crowdfunding platform.
How Kickstarter works for creators
If you’re considering launching a Kickstarter campaign, understanding how it works for creators is crucial to achieving success. In this section, we’ll explore the key steps involved in creating and launching a Kickstarter campaign, the significance of setting clear and realistic goals, tips for crafting an enticing project description, and the art of creating effective rewards.
1. Creating and launching a Kickstarter campaign
The first step in utilizing Kickstarter is to create a compelling campaign. This involves defining your project, setting a funding goal, and choosing a campaign duration, typically ranging from 1 to 60 days. To launch a campaign, you need to prepare a project page with essential details such as project images, videos, and a clear project description outlining your idea, its purpose, and how you plan to execute it.
2. Setting clear and realistic goals
Setting an appropriate funding goal is paramount. It should cover your project’s expenses, including production, shipping, and Kickstarter’s fees. Overestimating or underestimating can hinder your campaign’s success. Additionally, creators need to establish a timeline for project completion and communicate it transparently to backers.
3. Crafting a compelling project description and rewards
Your project description should be engaging, concise, and informative. Clearly articulate your project’s uniqueness, the challenges it addresses, and why backers should support it. Use high-quality visuals and create engaging videos to showcase your work.
Rewards play a vital role in enticing backers. Offer a range of rewards that cater to different budgets, ensuring that they are appealing and relevant to your project. Unique and limited-edition rewards often attract more backers.
4. Building a community and promotion
Building a community before launching your campaign can be instrumental. Engage with potential backers through social media, email newsletters, and personal networks. Generate excitement and anticipation for your project.
During the campaign, maintain active communication with backers, providing updates on progress and milestones. Social media, email marketing, and partnerships can help you reach a broader audience.
How Kickstarter works for backers
Here’s a breakdown of how Kickstarter works for backers:
1. Supporting a campaign
Backers can support Kickstarter campaigns by making a financial pledge. This can be as low as a few dollars or as high as the backer chooses. In return, backers receive rewards or perks based on their level of support, which typically includes a copy of the project or other unique items related to it.
2. Rewards and risks
Supporting a Kickstarter campaign comes with both rewards and risks. The rewards can vary widely, ranging from receiving a first-edition product to exclusive merchandise or experiences. However, backers should be aware that there are risks involved. Projects might face delays, changes in scope, or even failure to deliver altogether. Kickstarter does not guarantee the success of any project, so backers should be prepared for these potential outcomes.
3. Choosing campaigns to support
To make the most of their Kickstarter experience, backers should carefully consider which campaigns to support. Here are some tips:
- Project research: Thoroughly read the project description, watch videos, and review the creator’s background to ensure they have the skills and resources to complete the project.
- Backer comments: Read comments from other backers to get a sense of how the creator communicates and addresses issues.
- Funding goals: Evaluate whether the funding goal is realistic for the project’s scope. Unrealistic goals may indicate a lack of planning.
- Updates: Check if the creator regularly updates backers on the project’s progress. Transparency is key.
- Creator credibility: Do a background check on the creator behind the Kickstarter project to confirm that they are actually who they say they are. It also helps to confirm that there is information about the product they’re launching on Kickstarter elsewhere
Always assess the credibility of creators before supporting a campaign. Look for projects where the creators have a track record of delivering on their promises. Some creators may link to their past projects or demonstrate their expertise in the project’s field.
Top questions answered
Kickstarter has become a household name in the world of crowdfunding, enabling creators to turn their ideas into reality with the support of backers from around the globe. However, the platform’s inner workings and policies can be somewhat mystifying to newcomers. In this section, we’ll address some of the top questions people often have about Kickstarter.
What are the fees associated with using Kickstarter?
Kickstarter charges fees to both creators and backers, but they are relatively straightforward. Here’s how it works:
- Creator fees: When a campaign is successful and reaches its funding goal, Kickstarter takes a 5% fee from the total funds raised. Creators also need to pay a payment processing fee, which is typically around 3-5% of the funds collected, plus a flat fee. These fees cover the costs of running the platform and processing payments. So, if a campaign raises $10,000, Kickstarter would take $500 (5%) plus the payment processing fee.
- Backer fees: As a backer, you won’t be charged any additional fees beyond your pledge amount. Your payment includes the cost of the pledge, any shipping fees, and applicable taxes. It’s important to note that your card will only be charged if the campaign successfully reaches its funding goal by the end of its duration.
What happens if a campaign doesn’t reach its funding goal?
Kickstarter operates on an all-or-nothing funding model. If a campaign fails to reach its funding goal by the campaign’s deadline, no money changes hands. Backers are not charged, and the project doesn’t receive any funds. This approach is designed to ensure that creators have the necessary resources to bring their projects to fruition. If a campaign doesn’t succeed, creators can either regroup and relaunch their project with adjusted goals or seek alternative means of funding.
How do creators deliver rewards to their backers?
Once a Kickstarter campaign successfully reaches its funding goal, the real work begins for creators. They are responsible for delivering rewards to their backers, which can include the product they’ve developed, limited-edition items, or other incentives promised during the campaign. Here’s how it typically works:
- Surveys and information gathering: Creators will often send out surveys to backers to collect necessary information, such as shipping addresses and preferences for reward options. It’s crucial for backers to respond to these surveys promptly to ensure smooth delivery.
- Production and fulfillment: Creators use the funds raised to produce and manufacture the rewards. This can take time, depending on the complexity of the project. Once the rewards are ready, they are shipped to backers using various shipping methods, depending on the project’s logistics.
- Communication: Good communication is key. Creators often provide updates to backers on the progress of their project, any delays, or changes in the timeline. Kickstarter has messaging tools that allow creators to stay in touch with their backers throughout the process.
What if I’m not happy with the reward I receive?
Kickstarter campaigns are not traditional online stores, and there can be risks involved. If you’re dissatisfied with the reward you receive, you should first contact the creator through the Kickstarter messaging system. Creators are generally committed to making things right and ensuring backers are satisfied. However, keep in mind that Kickstarter has limited recourse for backers in case of disputes or dissatisfaction. It’s essential to read a project’s description and updates carefully before pledging.
Can I get a refund for my pledge?
Refunds on Kickstarter are not guaranteed and can be complicated. Whether or not you can get a refund depends on the campaign and the creator’s policies. Kickstarter itself does not handle refunds. It’s up to the creator to manage their project’s finances and determine if refunds are possible. Some creators may offer refunds for various reasons, while others may not have the resources to do so. Before pledging, it’s a good idea to review the creator’s refund policy, which is often outlined in the project description.
The bottom line
Kickstarter is a platform that can help turn innovative ideas into reality, but it comes with its own set of rules and dynamics. Understanding the fees, the all-or-nothing funding model, and how rewards are delivered can help you navigate the Kickstarter experience more effectively and make informed decisions as a backer. Remember that while Kickstarter can be a fantastic way to support creative projects, it’s important to approach it with some level of risk awareness and due diligence.
How Pressfarm can help to promote your Kickstarter campaign
Do you need help generating publicity for your Kickstarter campaign? With a team of PR specialists, expert writers, and certified designers from Pressfarm, you can do just that!
With a professional press release, some winning guest posts, and an eye-catching media kit from Pressfarm, you can make a splash and stand out from other Kickstarter projects. Beyond creating quality content for you, Pressfarm can also help you put it in front of the right eyes.
By submitting your content to the right media outlets and startup directories, Pressfarm can help your startup rank in relevant search results across different search engines. Additionally, with custom media lists and access to a database of 1 million+ journalists, you can connect with the best journalists in your niche.
With a PR package from Pressfarm, you can generate publicity and win backers over to your Kickstarter project.