Crowdfunding, at least by definition, isn’t a really new concept but the modern approach to crowdfunding and online crowdfunding platforms is just more than a half-decade old. It didn’t start with celebrities either but just simple people with very bright ideas. One of the milestones of crowdfunding occurred back in 2012 when a simple iPhone dock raised more than $1 million. Crowdfunding wasn’t just about gadgets either but also about music, movies, and just about anything. The success stories in those areas likely prompted celebrities to give crowdfunding a shot too. Some failed miserably while others were very successful. There were several that had good runs but didn’t fully satisfy all backers. While celebrities have good reasons to resort to crowdfunding even if they have more than enough money, it is understandable for backers to be hesitant. If you are on the fence, these tips should help you fund the right people with absolutely no regrets.
Let Other People Do It First
Being one of the first people to pledge money to a celebrity can be tempting especially if you are aiming for an early bird type of reward tier (i.e. discount) or a very expensive tier that is limited in supply (i.e. Collector’s Edition). But always remember that there is a chance you won’t even get the reward or it could be significantly delayed. Let the other die-hard fans roll out the money and see if the funding goal is met in a week. If the celebrity reached his or her goal, you don’t even have to spend anything and just wait for the final product and buy it just then.
See What the Press Thinks
Any crowdfunding buzz generated by celebrities will definitely hit the media and you can expect some bloggers and journalists to have their own opinions on the matter. Some might say it is a ridiculous idea to cash grab fans while others might think it is the next big thing. Use their opinions to help you determine if you should really help fund the project. Even if the project reached its goal, your contribution may still help the celebrity hit any stretch goals if stated.
Pledge with Low Expectations for the Rewards
If you are giving money to a celebrity, you are essentially funding the idea and you strongly believe that the celebrity deserves your money. If you are doing it for the reward alone, you might be real disappointed. Let the reward be an extra incentive without the guarantee and nothing more.