When we launched our campaign on Kickstarter it soon became evident that most of our audience were not familiar with crowdfunding or backing projects and weren’t even sure what it was. So I thought I should put together a post to explain what it is and how to use it.
Crowdfunding is a great way to raise money from a ‘crowd’ to fund a project. Kickstarter is one that is product based but there are also ones that raise money for equity or charity. Products featured in the projects have normally been sampled or prototyped and the money raised is often to then take them into production. This means the goods are not available to buy straight away as the backer is pledging to have it made first. This set-up has helped a lot of interesting (and crazy) ideas become reality, which probably wouldn’t have got funding in the traditional ways. It is also a great way for creators to test the demand for their product before investing in it as putting a lot of money into stock before knowing it will sell is very risky..
You can only make one pledge on Kickstarter, but you can add other items onto your pledge and increase the amount to cover the add on. We include a handy table to show the prices with add-ons. So if you decide you want to add something else you can go back to the site and go to ‘manage pledge’. You can also cancel a pledge if you need to, but only while the project is live. You will receive a confirmation page and/or email once the pledge has gone through.
You also don’t need to actually pledge on an item (reward) you can just back the campaign by selecting no reward and an amount or select one of the little, big or super wonders rewards that are set a specific amount. So If you have now little wonders to buy for you can still support what we are doing.
Kickstarter works on an all-or-nothing basis, so if a project doesn’t hit its funding goal within the timeframe they have set then they don’t get anything. This means as a backer that your bank card would not be charged if the target is missed. If it is successful your card will be charged only at the end of the project for the final amount pledged. You will be notified about whether the project has succeeded by Kickstarter and by us.
If a funding goal is met before the end of the project you can still pledge. Most project creators like us will set a low goal that only covers their bare minimum costs, otherwise they risk not getting anything at all if they can’t raise the funds. So keep pledging as this gives the creators much needed extra funds.
The Kickstarter site doesn’t give you choices about sizes and colours etc. So at the end of a successful campaign you are sent a survey where you add all these details and contact information for shipping. You will be regularly updated by the us after the project ends about the progress on production.
If you have anymore questions please do contact me.
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