Crowdfunding isn’t limited to the donation-based model where you start a fundraiser and donors make contributions, without receiving anything in return. Of course, giving is not a transactional activity and it’s all right to ask donors to make a contribution without being able to offer anything in return. However, different causes raise funds in different ways. An NGO or a needy patient struggling with healthcare costs is not expected to provide an incentive to donors.
On the other hand, some individuals and organizations find that their campaigns that are much more successful when they offer rewards to contributors. For such crowdfunding India campaigners, incentives are a great idea to push donations.
How does rewards-based crowdfunding work?
Campaigners can write about their cause, add images and videos and make an appeal to potential donors in their fundraiser story. Before launching their campaign, they can list out different rewards they’re offering to different amounts of donations. For example, a Rs. 2000 donation can get a social media shoutout; Rs 6000 donation can receive a small handmade gift or a free ticket to an event and so on. Campaigners can then promote their fundraiser on social media platforms like Facebook and garner support.
Who is it meant for?
Innovators that are looking to launch new products, small-scale entrepreneurs especially in the creative industry, artists, musicians, painters, sculptors, animators and designers of all kinds make the most ideal campaigners!
Why should you offer rewards at all?
It validates your cause
You’re an innovator who has come up with an idea for a product you’re sure no one has before. You’re an artist who’s eager to have her work recognized. You’re an athlete gearing up for that competition in Singapore. No matter what your cause is, if you’re considering rewards-based crowdfunding India, chances are you’ve got something to offer; a talent, a skill or a product. Offering your skills and products to your donors encourages them to trust you more.
You’ll be getting feedback from a large audience
Coupled with a poll or a survey, your crowdfunding campaign can give you real-time feedback with zero sugar-coating from a large audience. You can figure out what people like best about your skill/product, what they think you can improve. As a bonus, since these surveys will go hand in hand with your crowdfunding campaign, you lose no extra time or effort in reaching out to people.
Build a loyal base of customers before you launch your product
When you take surveys, polls and offer rewards to your donors, they become more than just customers. They supported your initiative before you began selling your product and are proud to be part of your journey. This means they feel special and will go out of their way naturally to spread the word for free!
Looking to launch a product or hold an exhibition for your work? Start a crowdfunding India campaign today.