Planning a Kickstarter? Here Are Some Tips For A Successful Fundraising

Launching a Kickstarter campaign is easy. You just have to sign up to the site, go to the projects page, and input your data. Done. Kickstarter launched.

Now, getting a Kickstarter campaign to succeed is an entirely different thing. There was a time, years ago, when most half-decent projects would get funded. Crowdfunding was new, and people were jumping in like crazy.

Years later, that’s not the case. There have been far too many scams or poorly managed projects that fail. Too many entrepreneurs have promised much more than they can deliver for the price. 

And most people who once liked the site have by now invested in too many projects and seen too few of them become reality.

So today, if you want to run a successful campaign, you need a lot of planning. Here are some things you should do if you intend on succeeding.

Make sure your project will work with Kickstarter

Here’s the deal: If you launch a Kickstarter campaign with a certain goal, you better deliver once the goal is met. 

Many Kickstarter projects fail because, in their desire to call their project “funded,” creators greatly underestimate costs. 

At times, they flat-out lie about the costs, setting unrealistically low funded goals and hoping they’ll attract investors that way. Don’t do that.

Of course, a project with a huge funding goal will have a much harder time getting funded. This will be so not only because of the higher monetary requirements, but also because people are wary of helping fund very expensive projects.

The thing is, projects that are huge don’t belong on Kickstarter. Reporting a much lower cost for the project than you know it will cost will only doom it to failure. 

If you think you won’t be able to obtain your required funds through Kickstarter, then don’t do Kickstarter. Or do it only after you’ve secured another funding source.

Set specific goals and a timeframe

While in the past people could get a Kickstarter funded with just some exciting text, that’s not so these days. Or, at least, not unless you’re a renowned figure in your field. But if you were, you wouldn’t be here.

A large number of scams and failed projects mean that people who might be interested in helping fund a project are generally wary. 

A project description promising a lot without ever explaining how it will be done, or who will do what is just begging to not be funded.

Show you’ve started working and have a team ready

Look, we understand your idea for a dinosaur-shaped crib with robotic diaper changer plus a make-up station is novel. But we won’t help fund it unless we know it’s likely to happen.

Therefore, we need to see that some work is done. There must be some design documents. Sketches. Perhaps an early render or, even better, a prototype. Let us know you know what you’re doing and have already created at least part of it.

Also, let us know who you are, and who you’re working with. Don’t come as a one-man enterprise seldom will project flourish under a single person. 

Show us you have the talent and experience to deliver, both within yourself and in those you work with.

Pick your rewards and stretch goals – but make them realistic

Funding rewards and stretch goals are thrilling for those giving you money. Knowing that they will receive something once the project launches, or that the continued community support means the project will now contain even more features, is always exciting.

You know what isn’t exciting? Not delivering on your goals. Or worse, not even delivering on funding rewards. 

If you promise me dinner in Las Vegas with Michael Jackson, you better already have a necromancer hired to raise him from the grave – because else I’m suing you. 

Don’t come later telling me you can’t deliver because necromancer fees are too high.

Last Words

It might sound basic, but plenty of projects can’t deliver on their rewards because they set them too low. 

We know you’re excited, but perhaps delivering a hardcover artbook printed in a glossy paper with a slipcover for $5 is not really going to be possible.

Make sure the amount you ask for rewards can cover the cost of said rewards plus a donation. If for every $10 you’re donated you have to spend $12, then perhaps you’re promising too much or asking too little.

Oh, and while we’re talking about not letting rewards be more expensive than donations, also make sure there’s some money left for proper funding afterward. And calculate your funding goals considering the cost rewards will have.