The $1 Kickstarter Reward Tier Strategy To Get Backers Fast

Key Concepts:

• $1 Reward Tier: Offering a very low-cost reward level (e.g., $1) in a Kickstarter campaign.
• Community Building: Fostering a sense of belonging and engagement among backers.
• Backer Numbers: The total number of individuals who pledge money to a Kickstarter campaign.
• Kickstarter Algorithm: The system that determines which projects are promoted and featured on the platform.
• Micro Commitment: A small initial pledge that can lead to larger contributions.
• Add-ons: Additional items or services that backers can purchase alongside their main reward.
• Stretch Goals: Additional targets that, when met, unlock new features or rewards for backers.
• Physical Product vs. Creative Categories: Distinguishing between campaigns for tangible goods and those for artistic or entertainment projects.
• MSRP: Manufacturer's Suggested Retail Price.

Should You Use a $1 Reward Tier on Kickstarter?

• Kickstarter's Perspective: Kickstarter suggests that a $1 reward tier can lower the barrier to entry, invite people to become part of your community, increase backer numbers, and allow you to build a relationship with backers long-term.
• Salvador Riggman's (CrowdCrux) Perspective: While he agrees with some of Kickstarter's points, Riggman argues that the effectiveness of a $1 reward tier depends heavily on the project category. He believes it can be beneficial for creative projects (e.g., tabletop games, novels) but can cannibalize sales for physical product, invention, and design product campaigns.

Community Building and Category Considerations

• Creative Categories: For tabletop games or artistic projects, a $1 reward tier can be a good community-building mechanism.
• Physical Products: For physical products, inventions, and design products, it's often better to focus on getting backers to commit to a full purchase rather than offering a $1 option.

Increasing Backer Numbers and Pledge Amounts

• Kickstarter Algorithm: Increasing backer numbers can help trigger the Kickstarter algorithm, but it's not the only factor for success.
• Micro Commitment Strategy: The $1 reward tier can serve as a micro commitment, making it easier for people to become backers.
• Upgrading Pledges: Once someone is a backer (even at the $1 level), they have the option to increase their pledge and select a higher-value reward.
• Add-ons: Backers can also purchase add-ons, increasing their overall contribution. Brandon Sanderson's campaign successfully used this strategy in the novel category.

Building Relationships with Backers

• Email Access: Backers at any level provide their email address, allowing for direct communication.
• Notifications and Updates: Backers receive notifications and updates about the campaign, keeping them engaged.
• Affiliate Programs and Social Sharing: $1 backers might join an affiliate program or share the campaign on social media.
• Fulfillment and Trust: Backers can observe whether the creator fulfills their promises, which builds trust for future campaigns.

The Downside for Physical Products

• Devaluing the Product: Backing at $1 doesn't provide the experience of using the product.
• Lack of Engagement: $1 backers are less likely to provide meaningful feedback or share their experiences with others.
• Missing the Resolution: They don't get the satisfaction of receiving and using the product.

Playing to Win vs. Playing Not to Lose

• Avoid Pulling Punches: Don't be afraid to ask for the full amount.
• Believe in Your Craftsmanship: Be willing to put everything on the line.
• Expand Your Vision: Aim for long-term success and brand building.

Conclusion

The $1 reward tier can be a useful tool on Kickstarter, but its effectiveness depends on the project category. It's generally more suitable for creative projects where community building is a priority. For physical products, it's often better to focus on convincing backers to commit to a full purchase. Ultimately, creators should carefully consider their goals and target audience before deciding whether to incorporate a $1 reward tier into their campaign.

Call to Action

• Subscribe to the CrowdCrux YouTube channel for more crowdfunding advice.
• Take the free Kickstarter course at crowdcrux.com/kickstarter.
• Purchase the "Kickstarter Launch Formula" book on Amazon or Audible.
• Book a one-on-one coaching call with Salvador Riggman at crowdcrux.com/coaching.