Some FAQs’ on Kickstarter

us

 

Hi guys I just wanted to share a few FAQs’ some have asked me recently about Kickstarters and crowdfunding. Hope this answers some. Many were taken directly from Kickstarter.com. I added a few regarding my current project. And if you have any more, don’t hesitate to ask:)

What is Kickstarter?

Kickstarter is a funding platform for creative projects. Everything from films, games, and music to art, design, and technology. Kickstarter is full of ambitious, innovative, and imaginative projects that are brought to life through the direct support of people like you!

Since their launch on April 28, 2009, over $1 billion has been pledged by more than 5 million people, funding more than 60,000 creative projects.

How does Kickstarter work?

Thousands of projects are funding on Kickstarter at any given moment. Each project is independently created and crafted by the person behind it. The filmmakers, musicians, artists, and designers you see on Kickstarter have complete control and responsibility over their projects. They spend weeks building their project pages, shooting their videos, and brainstorming what rewards to offer backers. When they’re ready, creators launch their project and share it with their community.

Every project creator sets their project’s funding goal and deadline. If people like the project, they can pledge money to make it happen. If the project succeeds in reaching its funding goal, all backers’ credit cards are charged when time expires. If the project falls short, no one is charged. Funding on Kickstarter is all-or-nothing.

All-or-nothing funding is a core part of Kickstarter and it has a number of advantages:

It’s less risk for everyone. If you need $5,000, it’s tough having $1,000 and a bunch of people expecting you to complete a $5,000 project.

It motivates. If people want to see a project come to life, they’re going to spread the word.

It works. Of the projects that have reached 20% of their funding goal, 81% were successfully funded. Of the projects that have reached 60% of their funding goal, 98% were successfully funded. Projects either make their goal or find little support. There’s little in-between.

To date, an incredible 44% of projects have reached their funding goals.

Why is funding all-or-nothing?

All-or-nothing funding is a core part of Kickstarter and it has a number of advantages:

It’s less risk for everyone. If you need $5,000, it’s tough having $1,000 and a bunch of people expecting you to complete a $5,000 project.

It motivates. If people want to see a project come to life, they’re going to spread the word.

It works. Of the projects that have reached 20% of their funding goal, 81% were successfully funded. Of the projects that have reached 60% of their funding goal, 98% were successfully funded. Projects either make their goal or find little support. There’s little in-between.

To date, an incredible 44% of projects have reached their funding goals.

Why do people back projects?

Many backers are rallying around their friends’ projects. Some are supporting a new effort from someone they’ve long admired. Some are just inspired by a new idea, while others are motivated to pledge by a project’s rewards — a copy of what’s being produced, a limited edition, or a custom experience related to the project.

Backing a project is more than just pledging funds to a creator. It’s pledging your support to a creative idea that you want to see exist in the world.

Where do backers come from?

In most cases, the majority of funding initially comes from the fans and friends of each project. If they like it, they’ll spread the word to their friends, and so on. Press, blogs, Twitter, Facebook, and Kickstarter itself are also big sources of traffic and pledges. Altogether, millions of people visit Kickstarter every week.

What do backers get in return?

Backers that support a project on Kickstarter get an inside look at the creative process, and help that project come to life. They also get to choose from a variety of unique rewards offered by the project creator. Rewards vary from project to project, but often include a copy of what is being produced (CD, DVD, book, etc.) or an experience unique to the project.

Project creators keep 100% ownership of their work, and Kickstarter cannot be used to offer equity, financial returns, or to solicit loans.

How do backers know if a project will follow through?

Launching a Kickstarter is a very public act, and creators put their reputations at risk when they do.

Backers should look for creators who share a clear plan for how their project will be completed and who have a history of doing so. Creators are encouraged to share links and as much background information as possible so backers can make informed decisions about the projects they support.

If a creator has no demonstrable experience in doing something like their project or doesn’t share key information, backers should take that into consideration. Does the creator include links to any websites that show work related to the project, or past projects? Does the creator appear in the video? Have they connected via Facebook?

Don’t hesitate to request information from a creator. You can always reach out before pledging via the “Contact me” button on the project page.

How do I know a project creator is who they claim they are?

Perhaps you know the project creator, or you heard about the project from a trusted source.Maybe they have a first-person video. That would be hard to fake. “Is it really U2?!” Well, it is if Bono’s talking about the project.Still not sure? Check the creator bio section on the project page for some background. Have they connected their Facebook account? Does the creator provide links for further verification? In the creator’s full bio, look for the verified name, next to a check mark. This person is the creator of the project or a part of the company or team behind it, and they verified their identity through an automated process. The name appears for projects that have launched since May 19, 2014.

The web is an invaluable resource for learning more about a person. At the end of the day, you can use your internet street smarts.

When are backers charged?

After the Kickstarter meets it’s goals, Amazon.com will charge the credit card on file and send the backer a receipt via email.

Hope this explains some things. Look forward to the months activity and seeing everyone at the show Saturday July 26th. In the meantime Resist + Remember. 20140718-180931-65371456.jpg

20140718-181001-65401416.jpg

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s