Late Pledges: Kickstarter’s New Addition to Crowdfunding
Introduction:
Kickstarter, a trailblazer in the crowdfunding space since its inception in 2009, has announced a new feature called Late Pledges. This functionality allows backers to pre-order products even after a campaign is complete, simplifying the process for both creators and supporters. While some may consider this feature a late arrival compared to Indiegogo’s InDemand, it is still a welcome addition to Kickstarter’s platform.
Late Pledges: A Win-Win for All Parties Involved:
Late Pledges not only opens up new avenues for backers who missed the initial campaign but also streamlines the post-campaign contribution process. Previously, post-campaign pre-sales would occur off-site, depriving Kickstarter of its usual 5% platform fee. With Late Pledges, Kickstarter can now capitalize on these sales as well. This feature benefits creators by leveraging the momentum from successful campaigns and maintaining excitement and visibility for their projects.
How it Works:
Once a project is successfully funded, creators can activate Late Pledges from their dashboard. This adds a dedicated ‘Late Pledges’ section to their project page, where new backers can choose rewards and pledge their support at their convenience. Kickstarter ensures that Late Pledges seamlessly integrates within the platform, providing a smooth and efficient experience for all users.
Challenges and Considerations:
While Late Pledges offers substantial benefits, there are potential challenges that creators need to consider. Crowdfunding campaigns often face manufacturing and design challenges during the post-campaign period. Continuously accepting pre-orders at this stage could increase the volume of backers and potentially impact the initial urgency that drives many campaigns. Creators must carefully manage these factors to avoid diluting the impact of their initial campaign.
The Future of Late Pledges:
Despite these challenges, Late Pledges can contribute to a more sustainable crowdfunding environment by allowing projects to generate ongoing support. Kickstarter may enhance this feature by introducing time-limited pledge windows or integrating it with other platform features to boost project visibility and success. This evolution could lead to broader changes in Kickstarter’s strategy, emphasizing long-term creator-backer relationships and expanding support tools for creators.
Conclusion:
Late Pledges is a valuable addition to Kickstarter’s platform, providing flexibility for backers and opportunities for creators. While it may have arrived late compared to its competitor, Indiegogo, the feature’s integration within Kickstarter’s ecosystem and potential for future enhancements make it a noteworthy development. Kickstarter’s commitment to supporting creative individuals remains unwavering as it continues to innovate and improve its crowdfunding experience.
