Just remember! Reward based crowdfunding is very different from any other form of crowdfunding. It has its own qualities, liberties and benefits that are lacking in other crowdfunding forms. What basically is reward based crowdfunding?It is a common question that needs to be answered in common language. Reward based crowdfunding is a form of crowdfunding in which the people who donate a certain amount for a certain cause are recompensed with rewards by the creator of the project.
The rewards vary from project to project. For example, a person donates certain amount [an amount for which reward is applicable] for a movie, the possible reward that comes to the mind is mention of donors name in the film`s credits. And a person who donates a slightly extra amount can get a chance to meet the star cast of the movie. Moreover, reward for same amount donated to fund a book publication is totally different, perhaps an author`s signed copy of book.
What is deduced from this is:
- Crowdfunding Rewards vary with the variation in the amount donated. More money means more sophisticated reward.
- Crowdfunding Rewards vary within same cause. As discussed above.
- Crowdfunding Rewards vary with the change in nature of the cause. Rewards for donations done for a social cause are different from those of done for movie-making.
- Crowd funding Rewards are of many forms. For example: t-shirts or mugs or cups with the cause imprinted on it, signed copies of books, incentives and many more.
Crowdfunding Rewards is the most popular and widely used form of crowdfunding. In order to achieve success in such form of crowdfunding, creators of campaigns for a cause offer very attractive rewards to get more and more people involved in the cause and people who donate for such causes, they do so actually to support the concept behind the cause. People who are behind the creation of Crowdfunding Rewards campaigns offer specific rewards for specific donation amounts; as a result achieve their target smoothly, smartly and intelligently.
Good Features of Crowdfunding Rewards
Since the benefits of Crowd funding Rewards are now almost evident, let us mention a few here to grasp how Crowdfunding Rewards is different from any other form of crowdfunding.
- In Crowdfunding Rewards a person is financially at lower side of risk. Since it is a donation, there remains no room for interests, debts or payback; contrary to what is normally seen in traditional banking system and other crowdfunding forms like equity crowdfunding.
- In Crowdfunding Rewards one gets chance to connect with like-minded people; therefore, cutting down marketing costs sharply because people who donate spread the word about the cause to the other people.
- In Crowdfunding Rewards, one gets effectiveness not only monetarily but work-wise also. Since it is mainly operated via internet, it offers a user-friendly work experience to the creator of campaign.
In short, it can be said that Crowdfunding Rewards has many good things about it, which makes it one of the most popular form of crowdfunding throughout the world. And quite rightly so, Crowdfunding Rewards has seen involvement from every quarter of society. For any cause from business to charity, art and creativity Crowdfunding Rewards has become a preferred platform of crowdfunding for one and all.
