One of the worst things that can happen to a crowdfunding campaign is unplanned incidents that ultimately affect the outcome of your project. For physical products, it often comes in the form of manufacturing problems that could either delay or indefinitely halt the production. This leads to missing the intended date of shipment. Then, of course, there is the possibility of underestimating the expenses of the project putting you in a situation where you will have no choice but to seek more funding or cancel the whole thing.
It is a stressful situation to be in and it is something your backers don’t deserve to be a part of. But always remember that old “don’t of the day“. Never leave your backers in the dark. Always keep them informed and there is one thing you will never lose — trust. It is also important to disclose the bad news in a proper way. Here are some tips to follow.
Be Direct
If you are unable to meet the target date, simply tell your backers directly. There is no need to beat around the bush. Just state the problem you are experiencing and explain exactly what went down and why you are in this situation.
Take the Blame and Be Apologetic
There will always be factors that contributed to the unfortunate scenario. It might be hidden taxes, it might be some guy you hired that didn’t commit to his word or it could be some internal disagreement. But remember, you represent your crowdfunding project so you have to show your sincere apologies and take full accountability on the said incident.
End it with Uplifting Elements
Being positive during an unfortunate crowdfunding incident can be tough but at this point, you want to maintain the strong relationship between you and your backers. The trick is to first be realistic and eliminate any possibilities that may give your backers false hope. If you think the chances of recovering from this mess is very low, don’t bother mentioning it. If you have an idea that you think has a very high success rate, disclose your plans to them so you can listen to their feedback.
Be Open to Refunds
No matter how encouraging you will try to sound, there will always be some unsatisfied backers that will want their money back. It doesn’t matter how you think the crowdfunding platform works either. What matters most is you provide the best consumer support from start to finish. Some people may not trust you again but if you done your part the best way possible, you can avoid the worst fate — attracting negative press coverage.