Strategies for Fundraising Success on Kickstarter: Even If Your Campaign Fails

When considering a crowdfunding campaign on Kickstarter, it’s important to understand its unique structure as an “all or nothing” platform. If you fall short of your funding goal, you won’t receive any of the funds raised. However, there are strategies to leverage this platform to your advantage, even if your campaign doesn’t meet its initial objectives. This article will explore two of the most effective tactics: setting lower external goals and exploring alternative platforms like Indiegogo.

The “All or Nothing” Approach of Kickstarter

Kickstarter operates on a simple model: if you don’t meet your funding goal, you won’t receive any of the pledged funds. This creates a stark reality for many creators, but it also opens a door to strategic planning.

Setting Lower External Goals for Internal Achievement

A common strategy among creators is to set a lower external goal for their Kickstarter campaign while aiming for a higher internal goal. By doing so, they can swiftly meet the lower target and use the “100 funded” badge to attract additional pledges to reach their true target.

Even if you fail to reach your internal goal, you will still receive the funds collected, which can be used to keep the project moving. This provides a safety net, especially for those considering running subsequent campaigns or securing additional funding through different platforms.

Exploring Alternative Platforms like Indiegogo

Indiegogo offers a more flexible model with its “flexible funding” option. Unlike Kickstarter, it allows you to retain the funds raised if you don’t reach your goal. This makes Indiegogo a compelling alternative for creators looking to secure financial support despite the challenges of meeting their initial fundraising targets.

Proponents of flexible funding argue that it can foster trust among potential backers, who may feel more secure knowing that their pledges are secure from the outset. However, this option is also more prone to abuse by fraudsters, which may deter some backers from pledging.

It’s important to note that while flexible funding might appeal to some creators, it doesn’t guarantee a higher number of backers or more funds. Potential backers may be wary of supporting campaigns that rely on this model, which could impact both visitors to and pledges for your campaign.

Conclusion and Tips

In summary, while Kickstarter operates on a challenging “all or nothing” model, there are strategies to navigate these waters, including setting lower external goals for internal achievement and exploring alternative platforms like Indiegogo. The choice between these platforms ultimately depends on your specific project and the feedback you receive from potential backers.

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