Tuesday, 25 June 2013

10 Smart Tips For Raising Money on KickStarter

Tips for raising money on KickstarterMany famous projects, that went on to become successful products, were funded by Kickstarter. Some of the many examples of success that you’ll find include Ukiyo-e-Heroes, a parody art project that pledged a $313,341 and was 3,012% funded and went on to become a major success, Wasteland 2 which was funded its pledge of $500,000 in a small time of 17 hours. While Kickstarter has a lot of success stories to boast about, but it is certainly not a gold mine. It’s not easy to become an overnight success, but that demands a lot of hard work and dedication. Here are some smart tips for raising money on Kickstarter that are sure to help you along the way.

1: Know what you’re after

If you have used Kickstarter for a while then you will be well aware of certain limitations. Before proposing your project, be very clear of your goals and objectives. You should be certain of the pledged amount; because once your project is started you are not allowed to change the figures. Always ask for a reasonable amount, and then work hard to exceed that.
Another important thing to be kept in mind is the running time of the project. Maximum recommended time by Kickstarter is 30 days. Once the project length is set, you are not allowed to change it. So keep in mind your target audience and their expected response before putting up the timeline.

2: A little knowledge goes a long way

Before you start your project on Kickstarter, do a little research. Not every project attracts the audience, and even fewer go on to become successful. Study your target audience, know what they like and how they respond. Always keep an eye on the ending soon projects. See how they were marketed and what the result was.

3: First is the last impression

Make a lasting impression on the people that visit your project.  Know how to present it. The way you introduce it can make a huge difference in the longer run. On your project page, introduce your goals and ideas. Engage the audience in your work. Kickstarter suggests using a video for the introduction.

4: Consider your rewards and costs

Something for them, something for you, that’s how the world works. If you want people to fulfill your pledges, you would have to offer something in return. Set up a reward in exchange for pledge. Most people set a reward based on the pledged amount; for example, Double Fine set the lowest reward a digital copy for their game for $15 and the highest award was a party with the developers for $10,000.

5: Spread the word

Unless people know about your project, they can’t support you. Once you have published your project, it’s time to hit the social media with marketing. Join all major social media websites, so that your news can reach all your backers. But most importantly, ask your backers to share your content. Many projects have found success through heavy marketing.

6: Don’t let the spirit die

Once your project gains some momentum with your heavy marketing, keep the spirit alive. If you lazy out of the hard work, you’re social media coverage will die. Keep in touch with your backers and update them with any good news like “We’re halfway there!”

7: Patience is a virtue

As mentioned earlier, Kickstarter is not a gold mine that will make you an overnight success. Although there have been some quick success stories, but that is not a general case. There will be times when nobody will seem to care about your work anymore, but that is not the case. Internet traffic is highly sensitive and can have unexpected spikes. Remember that all good things take time. So keep on giving in your best efforts to your project.

8: Feedback is a must

Your audience is important. If they have any suggestions to offer regarding your project, do listen. Many a times, they will tell your problems or give you tips that can save your project. Many of them might share the same concerns of a potential investor, so listening to them can go a long way for your project.

9: Be Flexible

Risks are a part of entrepreneurship. Never be afraid to take risks. Always try to do something new, that your competitors can’t be creative enough to do. Consider a special reward for your backers, maybe like a special T-Shirt? Offer something different and unique to your visitors, and they will remember you for it.

10: Try, try again

If you are launching your first project on Kickstarter, you should be ready for the bumpy road ahead. It’s going to be challenging path, where you’ll learn a lot and get better with time. A lot of success stories were not first time victors, but they also faced defeat. So learn to enjoy your work. And remember, if at first you don’t succeed……
So, do you like these tips? Have ou got any more to share with us? Please feel free to share your experiences with us. Cheers :)

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