It feels great to make a crowdfunding contribution to your favorite business or non-profit, but what if your contribution could also earn you the chance to put your name on a fancy plaque or get a garden named after you? That’s what “naming rewards” do—promote your name—or the name you select—in a very public and tangible way.

 

Naming rewards can be traditional – like an engraved stone in a pathway, or creative and fun like naming a new menu item at your local café. Crowdfunder’s have used this strategy to name meeting rooms and art studios, put names on kegs at a brewpub, dedicate benches, paint names or quotes on a wall like pictured above, and even include contributors photos on CD covers.

 

Because these rewards are unique and often exclusive, they can go for high dollar. For example,  an outdoor music event campaign from Boise, ID offered contributors the opportunity to name their “jampitheather” ($2,000), pollinator garden ($2,000), and community classroom ($3,000).

 

But, not all naming rewards have to be offered at high price points. This awesome yoga studio in Meeteetse, WY used chalk to write names on their new patio in exchange for $15 contributions to their campaign.

 

Now that I’ve shared a few of my favorite uses of naming rewards, what creative ideas do you have for businesses or non-profits?

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There are five basic types of crowdfunding —donation-based, rewards-based, lending, equity and royalty. The Local Crowd platform fits into two categories —rewards and donations—because our contributors can receive rewards in exchange for contributing to a business project, or they can make a simple donation to a cause they support.

The “rewards” space offers tons of opportunities for creativity and fun! So much fun, in fact, that I want to dedicate my next few blogs to digging into some different campaigns and the amazing rewards the creators have dreamed up and offered.

I’ll be covering four types of rewards. First, Pre-Sale rewards are a great way for businesses to get people to try out their products and services. Next, “Experience” rewards include activities like tours, receptions, classes, special events and parties. Naming rewards give contributors the opportunity to have their name or picture on something (like a menu item, or brick in a wall) and Sponsored Rewards are donated by other businesses or individuals who support the project. Stay tuned — these real-life stories will inspire you and stimulate your creative juices!

 

 

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