What is it about particular campaigns that makes people want to fund them? Why is it that people would be likely to invest their money on specific campaigns over others? Well this article will delve into exactly this aspect of a relationship between funders and campaigners. Since Zingohub is a reward based crowdfunding platform, let us explore what is it about Zingohub and its campaigns that make it so attractive for people to go out of their way with splashing their cash. Let’s take a look at one of the most recently highly funded campaigns on Zingohub and why it ended up attracting so much crowdfunding attention.
Dangerous Radio by Bull Funk Zoo
Another story of an artist who moved to Dubai in search of a lifestyle that would cater to his musical career. Assad Lakkis an established artist looking to promote his new musical album “Dangerous Radio” took to Zingohub- a crowdfunding platform like Milaap, to build up some funds for purposes of marketing, promotions and the physical printing of his album. In the introduction to his campaign he mentions how he has been associated as an opening act to one of the world’s most famous artists “Sting” with over 10000 people present as the response was incredible. Did that fail to capture anyone’s attention? I doubt it. I’m sure some of those 10,000 people found him to be a brilliant enough of an artist to fund his campaign. He’s been building up a reputation around the Middle East for a while now with a diversity in his element of music. Initially starting out as a rock artist, Assaad moved up his musical repertoire range and is now associated with having experimented “with different genres including jazz, rock, funk, hip-hop, soul, electronic etc.”
A guy who is relatively well known because of the opportunities he didn’t think to miss out on. A musician who has diversity in his nature. A musician who has previously held a fair amount of success in his endeavors. Who wouldn’t fund for this guy? I certainly would. He offered a professional outlook to his campaign by association to big names, by proving he has been successful and by showing that the efforts of funders will not go to waste. What was the outcome you ask? His campaign strived to achieve a target fund raise of $2000. He received about $2100.
Rewards by Bull Funk Zoo
Since Zingohub is not an equity based crowdfunding platform, people looking to start campaigns need to understand that a perfectly workable model of reward system should be one of the primary selling points of that particular campaign. Let’s look at how Bull Funk Zoo created a reward system that had a major impact on getting backers to fund his music scene.
While most campaigns have about 2-3 rewards attached to different levels of funding, Assaad didn’t choose to limit the level of rewards he was offering. The way he came up with his reward system was pretty effective and to a great extent, very tangible.
He included 11 different categories of rewards offered to potential backers. The first of which started at $10 for a Facebook shout out inclusive of a free digital download of his album. As the amount of funding increases, he offered more tangible rewards on top of the free digital download. On a $100 he had been willing to offer a free Skype lesson with a chat over coffee, a signed copy of an album, a t-shirt along with the digital download. Anyone who has been looking to establish themselves as artists and musicians in the future through Assaads rewards system could learn much about his struggle and his rise to success along with tips and tricks of the trade on how to survive in this industry over a nice cup of coffee. Now that is a tangible reward.
His last reward package upon a funding of $500 offered all of the above on top of 2 back stage passes to his concert. Guess what? He ended up with 14 backers very diversely split among the different reward packages offered by him. There were even certain packages upon which he got 0 backers. But that the tip! Have a diverse range of reward packages attached to your campaign because the more you limit your options the more constrained a potential backer will feel.
The lesson we learn from Bull Funk Zoo’s successful crowdfunding campaign/ startups, is that, upcoming creative talents who are looking to raise funds through Zingohub need to establish a diverse range of reward packages and systems upon which certain individual backers may feel that they are getting their money’s worth out of. We hope to see Assaad pursue his musical talent successfully, we wish him the best and hope that for his future work he turns back to Zingohub.