Stretch goals are a term widely known and used in the crowdfunding world. Particularly in North America, where they have more presence in a variety of crowdfunding campaigns. They’re carried out when the campaign has already raised its goal. What are they about? Today you’ll know.

Stretch goals and their value in crowdfunding

Successful crowdfunding campaigns usually have something in common. They surpass their goals and collect a lot more money than they had in the beginning. Taking this into account, one might ask, does everything end here? Should one continue to promote the campaign…?

Someone had the brilliant idea to provide an answer to these questions. This is how stretch goals came about, an opportunity to continue making the most of a campaign after having raised the goal. It consists of creating additional goals to continue motivating the audience to contribute money.

stretch goals in crowdfunding
If you achieved a campaign’s goal, you can add new additional “goals” plus the total amount already collected. Source: Market Exclusive

To make it more clear, let’s give an example. Suppose we created a campaign to make a line of sweaters, whose goal consisted of $4,000. Now, let’s assume that this campaign raised the goal 3 weeks in advance. In this case, we’ll create a “stretch goal”. An additional goal besides the one that has already been reached.

The audience will be told that if we now reach $4,200 (extra $200), we’ll create a new set of sweater colors. Now let’s assume that we reached this additional goal and got $200 added to the $4,000 we raised earlier. If we still have time to spare, we can incorporate a new stretch goal and so on.

Application and use in campaigns

The earlier the goal is achieved, the more benefits the stretch goals will bring. Imagine a campaign that manages to raise its goal in a matter of hours or days. That’s the kind of campaigns that get the most out of stretch goals. Because that way they give themselves the luxury of offering better things to people, raising more money.

In fact, stretch goals are more effective and applicable for commercial campaigns. Those that seek to finance a product, service or company. Don’t forget that creating stretch goals requires a broad sense of responsibility and commitment. Since we’re committed to offering something more in exchange for more money.

heart forth alicia kickstarter crowdfunding
An example of stretch goals from the Heart Forth, Alicia campaign. Whose original goal was $60,000. Thanks to stretch goals, it managed to surpass it and raise $232,365. Source: Kickstarter

In certain cases, some crowdfunding platforms may limit the use of stretch goals. For example, when it’s suspected of fraud or when there are complaints from users regarding the legitimacy of the campaign. Although this very rarely happens, since the campaign creators usually have everything calculated.

Stretch goals should never be created on the fly. They must be reasonable with your abilities and with what you have. If you’re sure that you can accomplish something if you get the money, you can implement stretch goals in your campaign. If you succeed, you can add as many stretch goals as you want in the campaign duration.

mighty no 9 scam
Avoid being too ambitious with stretch goals. Because you could get overwhelmed by responsibilities and fall into delays and mismanagement as happened with the Mighty No. 9 campaign. Source: Know Your Meme

If you managed to reach the goal of your campaign, consider including stretch goals. Even if your campaign isn’t commercial, you also have the possibility to include stretch goals. However, remember that incorporating them involves motivating the audience and offering something new and equally attractive. Never make promises that you think you cannot fulfill.

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Did you exceed your goal? Apply stretch goals!