Crowdfunding
O
ffer a range of rewards that are aligned in some way to your project or school, and
audience you are aiming to attract. Your rewards should go up in value
according to the amount of money a donor pledges – with an option priced around £20 as this is where the majority of pledges fall. Have some at the higher end that will appeal to business sponsors. Some people don’t want a reward,
they just want to donate to show their support. But others might be persuaded to add more to the amount they had planned to pledge because of the rewards on offer. For example, a parent who was about to donate £20, might be motivated to pledge £30 if they get a free DVD of the end-of-year production; a company that was going to pledge £750 might consider £1,000 reasonable in return for a plaque outside the new computer suite.
rewards if the project is successful and has hit its target.
Do I need to offer rewards? Here are a few reasons why offering rewards is a good idea: As an incentive to donate. You’re competing with a lot of other demands on people’s money. Rewards can help you stand out from the crowd – especially if they offer ‘behind-the-scenes’ experiences, masterclasses or exclusive items. People feel more involved. By linking your rewards to your project, people will have more invested in seeing the project succeed. Sponsors will be more likely to talk about it, and to share it with their own social networks. Keep sponsors updated on your project – and remind them that they can help make it happen by spreading the word. Increase the size of donations. When a potential donor visits your crowdfunding page with the intention of contributing, the rewards catch their eye. Instead of giving £10, they may decide to give £25 based on how attractive that reward sounds!
Why offer rewards?
Use rewards as an incentive to encourage people to pledge and to generate excitement about your project
SAMPLE PLEDGE AMOUNTS AND REWARD SUGGESTIONS:
£5 Social high-five. Thank your sponsors via Twitter, Facebook and/or LinkedIn
£10 A handwritten letter from one of your pupils £20 A signed drawing by one of your talented students £50 Two tickets to the next school event, including dinner
£250 A ticket to the grand opening of your new facility, plus a souvenir photo with the Headteacher
£500 Training sessions related to your project, such as computer coding or a short course of guitar lessons
£1,000 Name your new facility after your most generous donor
SUBSCRIBER EXCLUSIVE!
FundEd subscribers can read a wealth of crowdfunding guidance on the website – login at
funded.org.uk. If your school hasn’t signed up yet, click the ‘become a member’ tab at the top of the homepage.
Help promote your campaign. Maintaining momentum throughout your campaign is key, which means planning and scheduling a regular donors. Offering rewards that are unique, quirky or exclusive provides a new angle for your messages. Make sure everyone in your network hears about your rewards – and tells their network.
What to offer
Ask yourself, ‘Would I want this reward?’ If the answer is no, then why would someone else
want it? Check that your rewards meet crowdfunding guidelines, i.e. no alcohol, drugs, investments, loan solicitations, coupons,
tickets, lotteries or sweepstakes. When writing descriptions for
your rewards, try to make them sound exclusive, desirable, valuable, quirky or funny!
How many?
We recommend selecting three to do your sums – is it feasible to offer tickets to the end-of-term production to every sponsor? At the other end of the scale, you don’t need to put any limits on thank-you tweets or letters.
Fulfilling rewards How much will it cost to buy, make or that leave you from the donation? How much will postage/delivery cost – include packaging costs? reward going to be to deliver? How long will it take you to make, produce or order the rewards? You will also need to send updates
to let supporters know when their rewards will arrive, when you have sent them and to check that they have arrived in one piece.
FundEd SPRING 2018 27
IMAGES: PAVELS SABELNIKOVS/
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