The most obvious benefit of a crowdfunding campaign is, of course, the money. But you might find there are other outcomes that turn out to be just as important. Here are four surprising outcomes - and what some of the people I've worked with had to say about them. Testing market fit You can use…
Stretch goals are the next step up after you've hit your crowdfunding target, & they can unlock something new. So how can you best use them?
There are two main models of consumer crowdfunding - flexible funding (keep whatever you make) and fixed funding or all-or-nothing (keep everything if you hit your target - but get nothing if you don't). Both models have advantages, but lots of people new to crowdfunding think flexible funding is less risky. I strongly advise most…
I've had a couple of conversations recently about what counts as 'success' on Patreon, and something that's maybe not obvious from the outside is that creators who earn over $1k a month there are pretty rare. From February 2020, a paper from Tobias Regner in the Journal of Cultural Economics says: Our data show that…
What's the difference between product and project crowdfunding - and which type is your campaign? It's worth thinking about ahead of time, as it can really help you pin down who you're talking to and why they'll care about your work. When you're running a rewards-based crowdfunding campaign, both product and project campaigns share a…
Lots of people start out looking for no-fee crowdfunding, wanting to keep as much as possible of the funds they raise. But most commercial crowdfunding sites charge a fee. Is there any way around this? The short answer is: not really.
