If you were lucky to get the funding you need for your project from backers in Kickstarter, it is rude to walk away with the money without maintaining contact with your backers. You also never know; you might need their backing again in the future.
People who back projects in Kickstarter shops do so because they believe in the product. Most, if not all, want to know your progress and possibly the challenges you face along the way. In addition to financing the business, some of your backers may have the expertise to help you navigate the problems you might encounter.
Discuss the funding milestones
Sometimes it takes longer to get the capital you need. Other times, you might not meet your target within the stipulated time. It is appropriate that you maintain contact with those who have already backed your project.
You can do this by sending them a monthly or bi-weekly newsletter where you mention your funding progress. If you have a great rewards program, some of those already backing your product may opt to help you reach your target, especially if it is taking a little longer to get all the money you need.
Give updates about production
Kickstarter backers enjoy seeing the campaign they backed raise all the money it needs and seeing the product in the market. They hope their investment was worth it, and it is only right that they are made aware of the production process and the market’s response to the product.
It is especially important to keep the backers updated if they have a stake in the business or if you offered rewards. Giving production updates makes you authentic and makes it possible for your backers to buy the products when they are ready for the market. If the backers expect rewards, they can easily remain patient in case you face challenges during production because they were informed of the hitches.
Notify them of new product lines and other variations of the product
When launching a campaign at the Kickstarter store, it is recommended that you stick to one product instead of marketing your entire product line or shop. This will help you capture the attention of potential backers faster. However, this doesn’t mean that you should only produce the product you marketed. As your business grows, you can introduce variations as you build your brand.
It is critical that you inform your backers whether they have a stake in the company or not. Remember, they believed in your idea enough to provide funding for the production. They are also likely to buy the products and even market it to their family and friends. If you have more to offer, it makes great business sense to keep them posted.
Enlighten them of new reward tiers
Every consumer looks forward to getting a reward from a company they support by buying and using their products. Your backers are not only your most loyal clients, but they may also have been drawn to the company to the rewards offered for backing the campaign.
As the sale grows and new products are introduced, you need to let your backers know of new and expanded reward tiers so they can choose whether they want to increase their investment. This is especially crucial if you need more funds to expand your business.
In business, it is important to maintain your network, especially those who believed in your idea. They are your support system in good and difficult times. Keeping the lines of communication open is important, especially when crowdfunding helped you to get funding for your business.