Let's start with a great example
I'm just going to start by praising an artist named Kate Kelly. Kate and I worked together on her debut full length album and she ran a successful crowdfunding campaign on Indiegogo. Her campaign is a shining example of a well run crowdfunding campaign. She successfully raised her goal plus some extra and had over 200 unique contributions. Now let's take a look at the packages she chose to offer:
DON'T SET YOUR PRICE CEILING TOO LOW
Kate's packages ranged in price from $12 to $1000. This is important to note as it's crucial that you don't set your ceiling to low. You might be thinking that nobody is going to contribute $1000 to my campaign. Kate thought the same thing but to her surprise two individuals claimed her highest package and those two people alone helped her raise 20% of her entire funding goal.
CONSIDER THE COSTS OF FULFILLMENT
After you run your crowdfunding campaign you are going to have to fulfill all of the orders you receive. It's important that you work the cost to fulfill your orders into your budget. I would recommend budgeting 15% of your raise to cover the cost of fulfillment. I would consider eliminating any packages where the cost of fulfillment is much greater than 15%. Here's an example:
Some things to note: The margins are likely going to be worse for your cheaper packages. Hopefully orders from your higher priced packages will push your average closer to 15% as I discussed above. Also most merchandise vendors give you price breaks the more units you order and some vendors have a minimum amount of units you can order. It's not very cost efficient to order 20 CDs. It would be worth getting quotes from different vendors prior to starting your campaign so you have a better idea of your costs.
BE CREATIVE WITH YOUR PACKAGES
Hey you're a freakin' artist and make music so you should be okay with getting a little creative. Don't be boring and only offer stickers and CDs as part of your campaign. Are you able to make anything cool? Do you have a friend or family member that can make something cool (i.e. jewelry, notebooks, prints, etc...)? Check out this Pinterest board for some inspiration: https://pin.it/nmky727dzenlji