In the second workshop session at NERFA this year I chose the one on crowdfunding. As I contemplate making my next CD, I wanted to do some thinking about whether something like a kickstarter campaign would make sense. I certainly came out of the workshop seeing some real advantages to doing it. One of the first take-home messages was that crowdfunding campaigns are about much more than raising money for a project; one of the panelists at some point said that if you’re thinking of it solely for that purpose (and you couldn’t do the project without it), it may be a bad idea to do one. The bigger point was that it is a way of connecting with your audience and building a closer relationship with your fans. And that people want to help you, want to be a part of what you’re doing, and giving them an opportunity to participate can be valuable. Two of the panelists used campaigns in part as a measure of what fans actually wanted – e.g. did people care enough about a band tour for a new album to help fund it – and it can serve that purpose well. (Of course, all the panelists were people who had succeeded in their campaigns, so they didn’t address what happens if people don’t step up to show that they wanted whatever the campaign was for.) There was a lot of practical advice on details from small to large. On the larger end of things there are different platforms (primarily kickstarter, indiegogo, and pledge music for our universe) that have different models. The biggest among them is that on kickstarter you set a goal and have a defined set of time to reach that goal; if you don’t reach it, you don’t get any of the money. While that is a major risk, the panelists argued that it gives both the musician AND the fans and incentive to actually make it happen, because the stakes are higher. It was also pointed out that the name recognition and reliability of kickstarter can be helpful. Other advice covered pledge levels and rewards. There were cautionary tales about overly ambitious reward offers that took far too long to make (individually bound books) or were too heavy to ship (loaves of bread) at cost-effective rates or internationally. Others, though, had thoughts about rewards that could be enticing (someone in the audience had pledged a larger amount to get a musician’s homemade marinara sauce) or could be enjoyable or easy to fulfill (a custom song, a set of handwritten lyrics; even homemade cookies if you like baking). All agreed that having some rewards that were different than the ones everyone offers were good, and ones that made use of who you actually are – what your skills and interests are (and maybe something tied in to what your album or music is). We did have an interesting conversation about pledge levels; one perspective is that you should have a meaningful entry level for someone who wants to participate but doesn’t have that much money. But someone cautioned against having too many small levels, splitting hairs on too many options to give just a little money. And one perspective I especially liked was the idea of having people “pre-buy” the CD; in other words, a level that isn’t that much more than a CD would cost to buy but involves the pledger getting it early and signed. I know I get cranky as a pledger when I’m asking to donate twice as much as a CD would cost at a show to get a CD during a crowdfunding campaign; I feel much better asking people to essentially by the CD in advance as an indication of interest. And the panel also had hints about how to get people to increase their pledges later (while the campaign is still on), by creating “bump” incentives (like a special concertwindow show only for people who bump up their pledges). The panelists also talked about making the all-important video(s) for the site. I was happy to hear that there it doesn’t necessarily need to be slick but that, rather, it should be consistent with your image. And also that you shouldn’t be meek and pleading, but be confident and inviting. The other big piece of advice is that for a crowdfunding campaign to work you need a big enough mailing list. Actually, that’s a subtext of most of the workshops I’ve been to: get people to your actual website, and make sure you collect their email addresses. They did have some suggestions on how to do that, and I know I can do better at building my mailing list. So regardless of my crowdfunding decisions, that will be something in my future. As for crowdfunding, stay tuned. And feedback is welcomed! Do you appreciate the opportunity to support an artist you like, or get cool premiums you wouldn’t normally have access to? Or are you overwhelmed with crowdfunding campaigns and would rather just buy a CD at a show and be done with it?