We get asked a lot about perks and rewards and how important they are for crowdfunding success? Do I really need to offer perks? Won't it stop people being philanthropic?
Our answer to these? Perks help. A LOT.
The reason for this is that perks give people a way of participating in your campaign. They tap into selfish motivations as well as benevolent motivations. And they let you access your supporters' spending purse, not just their philanthropic purse -- you can guess which of these is bigger.
So what perks should you offer?
Well perks tend to fall into three categories:
- Pre-release products or services: 'Selling' products and services via crowdfunding is probably the most common type of perk. Whether it's tickets to your event, memberships, CDs, bee-hives or even crepes, forward selling products and services is a great way to get people involved in your project.
- Unique experiences: Most social cause organisations don't realise it, but they are nearly always an amazing repository of wonderfully special, unique experiences. It could be dinners on a rooftop garden, workshops on a farm, tickets to an opening party, or even locating a tattoo on a founder.
- Special recognition: An oldie, but a goodie. Getting their name on or sponsoring a part of a project is still popular among some crowds. The key here is being creative on what can be sponsored. Edgar's Mission had barns, rocks, rakes, posts, shelters and even a mountain.
So, how do I come up with perks for my campaign?
This might sound obvious, but the easiest way to come up with perks is to co-design them with potential donors. Edgar's Mission ran a workshop with some of its key volunteers prior to its campaign to come up with their perks. Spacecubed did the same with their members. It's best to have a hypothesis on your perks as a starting point, as well as the levels you need perks at (normally $25, $50, $100, $250, $1000, $2500, $5000)
Some other considerations
- Perks which are directly connected to your campaign, which let people participate in your campaign/project are far better than unconnected perks (eg. Amazon gift cards,
- Having an early bird offer on your perks is a great way to build momentum. Spacecubed - a co-working space in Perth - released a very limited number of highly discounted memberships in the first 24 hours of their campaign
- Some perks (like drugs, illegal stuff, raffles) are not allowed. Make sure you check our terms to stay on the right side of the rules.
Interested in starting your own crowdfunding campaign?