It's common for backers to cancel their pledges, but where it matters is in how you respond to the situation.
As a creator, you may be aware that the journey to success in crowdfunding is riddled with challenges. The disheartening reality of backers retracting their pledges can indeed be discouraging, and even after achieving program success, you might discover that the funds deposited into your account fall short of covering all your expenses. But fret not, for this article is poised to provide you with a comprehensive solution to navigate through this predicament.
While the Kickstarter campaign page might reflect a promising figure, it's vital to recognize that campaigns typically experience a 7%-10% funding loss. Raising funds well beyond your target isn't just a safety measure; it's a strategic move to counter the anticipated funding loss. Setting a more ambitious objective helps to mitigate the risk of a decrease in promised funds. An invaluable tool in achieving this is PledgeBox's newsletter service, a powerhouse in the market with conversion results that consistently outperform competitors. If you're interested in boosting your campaign's reach, you can explore the impressive newsletter conversions here.
Occasionally, backers may decide to opt-out due to issues with their card transactions. While banks typically notify backers of declined transactions, there are cases where the issue persists. In such instances, PledgeBox comes to the rescue. Utilize PledgeBox's dropped pledge recovery to reach out to backers after the campaign, urging them to update their payment details. Ensuring a smoother post-campaign process and keeping the momentum of your project intact can be achieved by proactively dealing with this issue.
In certain instances, despite your utmost efforts, there might be occasions where backers do not react to payment difficulties. In such circumstances, it becomes imperative to withhold rewards, even though it is regrettable. Only once the payment issues have been resolved can you grant rewards to your backers. This approach upholds the integrity of your campaign and guarantees equitable treatment for those who have fulfilled their obligations.
