Kickstarter

Definition

Kickstarter is a popular crowdfunding platform that allows creators to raise funds for their projects by soliciting contributions from the public, usually in exchange for rewards or incentives. This platform empowers artists, filmmakers, musicians, and other creatives to showcase their ideas and engage with potential backers directly, helping them turn their visions into reality.

5 Must Know Facts For Your Next Test

1. Kickstarter was launched in 2009 and has since helped fund over 200,000 projects across various creative fields.
2. Projects on Kickstarter operate on an all-or-nothing funding model, meaning that if the project does not reach its funding goal by the deadline, no funds are collected.
3. The platform encourages creators to offer unique rewards at different funding levels to entice backers and foster engagement with their audience.
4. Kickstarter has specific guidelines and categories for projects, including arts, music, technology, and design, to help organize and streamline the funding process.
5. Successful Kickstarter campaigns often rely heavily on social media marketing and networking to build momentum and reach potential backers before and during the campaign.

Review Questions

• How does Kickstarter facilitate the connection between creators and potential backers in the crowdfunding process?
  • Kickstarter serves as a bridge between creators and potential backers by providing a platform where creators can showcase their projects and explain their vision. The platform allows creators to share videos, images, and detailed descriptions that engage viewers and convey the project's value. This direct interaction encourages community support and funding through the backer system, allowing individuals to contribute to projects they are passionate about.
• Evaluate the impact of Kickstarter's all-or-nothing funding model on both creators and backers.
  • Kickstarter's all-or-nothing funding model significantly influences project outcomes by creating urgency for creators to meet their funding goals. For creators, this means they must effectively market their project within a set timeframe to secure funds. For backers, this model offers protection against investing in projects that may not be viable; they only pay if the project is fully funded. This structure can foster a sense of community and shared investment among backers, encouraging them to promote the project to help it succeed.
• Analyze how successful campaigns on Kickstarter utilize marketing strategies to enhance visibility and engagement with potential backers.
  • Successful campaigns on Kickstarter often leverage various marketing strategies to enhance visibility and engagement. Creators typically utilize social media platforms to build a following before launching their campaign, generating interest through teaser content and behind-the-scenes insights. Additionally, they may collaborate with influencers or media outlets to reach broader audiences. Engaging storytelling about the project's mission and offering compelling rewards can also create emotional connections with potential backers, increasing the likelihood of funding success. Overall, these strategies help create a buzz around the project and drive more contributions.

Related terms

Crowdfunding: The practice of raising small amounts of money from a large number of people, typically via the internet, to fund a project or venture.

Backer: An individual who financially supports a project on a crowdfunding platform, often receiving rewards or early access to products in return.

Reward-based funding: A model of crowdfunding where contributors receive non-financial rewards, such as products or experiences, in exchange for their support.