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If you are CrowdFunding or going to offer some rewards in addition to offering equity in your CrowdInvestment, then here is how to create an offer that maximises your contributions. ...
If you are CrowdFunding or going to offer some rewards in addition to offering equity in your CrowdInvestment, then here is how to create an offer that maximises your contributions.
The first rule is to think of your target market of contributors or investors. Who is most likely to donate or invest?
Write the answers to the following questions down now.
What type of person would be most interested in what I am doing?
For example lets say you are pitching to finance the creation of a new social network just for football fans. Then football fans would be an obvious target. Even better rich ones!
What category of interest can I put them in?
In our example we would put them in the category of sports, but we can niche down further into football fans, maybe even further into Manchester United fans depending on the pitch.
What types of problems do the people that are interested in what I am doing have in relation to the topic I am pitching for?
In our example a big problem may be connecting with other fans or getting hold of Manchester United tickets without paying a bomb.
What interests them most about this topic?
In our example they may be most interested in the latest football player transfer news.
What are they trying to achieve right now in relation to my topic?
Maybe they are looking to become a professional footballer and are interested in networking with people that know industry insiders in football.
You may want to imagine the person that is most likely to contribute or invest in you, draw them on a piece of paper, give them a name and write down everything you know about them.
Now imagine if you could wave a magic wand and give them the most amazing unique, exclusive one time rewards that completely solve their problems in relation to the area you are pitching.
In our example, our magic wand Rewards would include season tickets, parties with footballers, membership to an exclusive club, places in a football team, the latest football kit.
Write down as many as you can think of.
Once done look through that list and think of as many things that you can actually deliver upon.
So in our example, maybe we could offer a launch party for the website with football fanatics, VIP access to the social network, a dinner with your football agent friend, football t shirts etc. etc.
Make sure they are things that you can deliver upon and consider the cost of delivery when making this list.
Now take that list and attach a value next to each reward of what you think that would be worth.
Now take each offer and make it a no-brainer where you can.
The best rewards are no-brainer, one off and exclusive.
A no-brainer reward is when somebody that would have bought what you offer for £200 is offered that reward when they contribute £100 to your CrowdFund. If they also get a one off exclusive invite to the launch event, even better where there are going to be football agents and ex footballers.