Social Lending

SO You Got Fully Funded on Kickstarter – Now What

Kickstarter is a social lending platform that practices quality crowdsourcing. It’s not about getting personal loans funded for paying off bills — it’s actually what people use to see their entrepreneurial and social change projects come to life. People have funded the launch of magazines, comic books / graphic novels, and even gotten their music careers done in an independent way. Raising money for the causes that you believe in makes sense. If you’re thinking about starting a Kickstarter project, you would definitely be in good company.

But this isn’t for the people who haven’t stuck a toe in the KS waters. If you’ve already gotten a project fully funded on Kickstarter, you might be shocked. It’s your first project, and people believe in it? Groovy. You might not be sure what to actually do when everyone seems to be looking at you to get your project up and running. People are giving you money because they know that you’re taking action with it. Why not make sure that they understand this thoroughly?

One of the top things that you will need to do is thank everyone. Showing gratitude definitely matters. If you show enough gratitude, people realize that you really do mean well. This sets you up for future projects. You want to show them that you appreciate everything that they’ve done. A lot of people share the things that matter to them. You can see your backers as people that have done their part to actually bring your project to life. Now you have to go through and actually do what you said you would do.

Make sure that you set solid expectations on what everyone can expect. Filming a documentary? Give your backers a behind the scenes view of your project. It’s something that shows them that you really are trying to get things off the ground properly. The last thing that you want to do is be silent during this process.

Kickstarter lets you entice people to donate money you in exchange for getting a reward. If your crowd has rewards coming to them, you want to deliver these quickly. That’s going to encourage people to follow you and get interested about other things that you do.

If you have more money than what you needed, you will want to tell your audience exactly what you plan to do with the money. That’s the important part here. You need to make sure that you’re thinking about anything and everything that goes along with pleasing your crowd. That’s the other side of crowdsourcing that doesn’t get discussed as much. You have to answer to other people now. If you don’t do anything with the money, you could be banned from crowdfunding, have your reputation tarnished, and have to give your backers refunds. This is not the road that you want to walk down. You are legally obligated to fulfill the terms of your project to the best of your ability. If things do come up, you can let your backers know. If things are just taking longer than what you wanted, chances are good that they’re going to be understanding.

Good luck with your project!