Add Backer Credit Card with airSlate SignNow

Add backer credit card

oh man Phil credit cards are a nightmare my friends after you do a successful Kickstarter or an IndieGoGo campaign you think that's sort of all there is you think that you hit that high pillar of success there's actually some other problems that come into the fray here so anytime you're transferring a large amount of money online and it's exactly what Kickstarter is you know you raise let's just say $50,000 or $100,000 you have a successful campaign and also congratulations about that if you are able to successfully raise money on Kickstarter or IndieGoGo so just say that's you know $50,000 $100,000 and you basically raise that amount of money then everyone who supported your campaign whether that's 500 backers or a thousand backers their credit cards are going to be charged and that money is going to be deposited into your bank account here's where the problem comes into play so actually after you do that successful campaign it looks successful on the outset what you don't see behind the scenes happening is that when everyone's cards are charged anywhere from one to five percent of the cards out there that are charged are not going to be successfully charged you know this could happen for like a variety of reasons it could be related to the expiration date of their card it could be their bank deny the transaction maybe they thought it was fraudulent or something it could be the payment processors stripe the payment processor that Kickstarter uses could you can also consider it to be fraudulent for some kind of reason so there's a lot of different reason the girl shouldn't be honestly that the person had maxed out their card I need to put in a different one for whatever reasons these cards are not successfully charged so if you do a $50,000 campaign here you successfully raise $50,000 that could cost you end up costing you $2,500 in failed pledges that might mean that amount of money could impact your profit margin or you might actually have to go out there you want to borrow extra money in order to then you know fulfill the next reproduction run of your products if you end up raising a hundred thousand dollars that could end up costing you five thousand dollars and that's an that's an additional added expense if you will that you didn't really you know plan for or that you didn't anticipate you thought you were going to you'll be able to recoup all the pledges all the people who have backed your project but in reality you're missing $5,000 at the end of the day and that can lead to a lot of headaches that can cause you to have to borrow money or find financing in other places and no one wants to do that now that you're aware of this problem let's talk about how Kickstarter tries to solve this problem so you sort of look at the time span of a campaign on Kickstarter so at this point in time this campaign is successfully funded so you have success here you're not breathing whatever amount you're doing and then basically in two weeks time you're going to get the money that Kickstarter has promised you and that they've collected from their backers now these failed credit cards between one to five percent are going to happen here basically people are gonna get an email from Kickstarter they're gonna say hey we notice that your credit card payment did not go through we'd love it if you could update your information so that way we can process your pledge you know the creator can be supported and everyone is happy they will send out this message every 48 hours so every 48 hours basically they're sending out this message up until one week and after one week basically Kickstarter says oK we've badgered these people enough unfortunately we're not able to get the recouped this payment so every 48 hours they're sending out a reminder to your pledges or your backers maybe people aren't being responsive to these emails you know maybe it just gets lost in the fray so a lot of the times creators will take other steps there are a number of different ways that creatives will try to solve this problem they could do stuff like you could reach out directly to the actual backer you can send them a message and say hey notice your credit card was failed for whatever is gonna be mean so much to me if you could update that information you could also reach out and say hey you know it's okay for whatever reason maybe you don't want to give money on Kickstarter you want to give money on IndieGoGo you can send you a link where you can actually submit this via PayPal or another payment processor if that's the issue the problem with this is it takes a lot of time it takes a lot of energy and it takes some it's almost like a full-time job honestly direct messaging all these people this is a gigantic headache no one wants to have to send messages no one wants to have to deal with this potential loss of money it takes a lot of time it takes a lot of energy it just really takes a lot of focus off the ball when you should be just using the money in order to fulfill the rewards and getting those rewards out there as quickly as possible to your backers I want to share with you a tool that is going to make this completely simple it's gonna make the process so much more seamless and that way you don't even have to think about processing these failed credit card payments they're gonna handle that for you this tool is incredibly efficient and effective it actually helps you with a lot of other things when a comment to your Kickstarter or your IndieGoGo campaign so I think you're gonna like this this tool is called backer kit BAC ke r ki t and they've been around for a long time they've helped more than 5000 creators do surveys help them with the actual reward fulfillment process they're also a sponsor of my podcast and their sponsor of this YouTube video so they've been around the block a long time they know how to deal with these problems they've created a process that will actually streamline all this the first thing that I like about backer gate is that they do surveys and surveys you know Kickstarter does surveys but they're really not that great with backer kit you actually get an itemized list of all of your orders you at all the accurate information and this is really when it comes into process with the failed credit card payments because as you know kickstarter stops basically collecting these after one week it's the first like window of opportunity that you have to collect these failed credit card payments after two weeks of time you're actually get the funds that you can go out there that use to fulfill your rewards I would recommend sending out your backer kit surveys two weeks after your campaign and the reason here is that after two weeks that campaign is still fresh in the memory of the backers in addition this is another opportunity for them to make good on the pledges to put in their their credit card information to other information so you can actually claim one of these rewards the other really cool thing about backer kid and I actually really like this a lot cuz you know my kind of sales guy I love marketing all that kind of stuff is they do add-ons so add-ons are basically upsells or the things you can add on to the new to the ordinary product that you're selling in order to increase the value that you're giving the customer so putting that really simply I would say like if you're selling a handbag or if you're selling a backpack or something like that maybe as an add-on you're also going to sell a water bottle or something that you're gonna sell a blanket or something small that's gonna increase the overall order value that isn't a tremendous cost to you may be something you've already created quite frankly backer kit makes add-ons really simple the other thing I like about them because they do pre-orders so pre-orders basically if you don't want to go into IndieGoGo in demand and continue to raise money that way you can use backer kits pre-order functionality in order to continue to collect pre-orders and pledges so that you keep upping that amount of money that you've raised from your crowdfunding campaign the final thing that I like about backer kit and this is a huge headache in the early days is that finally there are no more spreadsheets oh my gosh so like in the early days you'd have to actually break out the Excel spreadsheet you have to gather all the data from your backers finally there are no more spreadsheets there's a really easy way to do surveys you can also increase the pledges you can get pre doors you can send all of this information an itemized list of orders you can either deliver that to your fulfillment partner or if you're doing some filming yourself it just makes the process a lot easier so if you're worried about failed credit cards you're also worried about the whole fulfillment stage of this this campaign you don't want to deal with lots of spreadsheets and headache and just kind of make want to make this a lot easier on you because you're gonna be spending your time doing you know customer management actually going out there and creating these products and figuring out the logistics in the supply chain like if you don't want to actually have to worry about another thing this is a very easy and something that you can get started with quite frankly in like 10 minutes or even five minutes I'd say so I'm include a link down below where you can learn more about backer kit I also would love to hear from you what are some of the other problems that you are running into that you're thinking about as you're gearing up to launch of this upcoming crowdfunding campaign I hope you like this video again my name is Sal and I will see you next time