#micro patronage

April 15, 2010

Came across micropatronage on twitter – interesting form of crowd funding but how does someone decide who to contribute to? Role of trust? This might work with an identifiable brand but how does a (well intentioned) stranger choose to donate to an unknown other stranger from the crowd. Doubt its success can only be based on “ cos i really liked the sound of this one” – can it? With street performers its different as there is immediate action of giving and satisfaction. like scratching an itch – but is this possible across the internet? Perhaps only with a one button purchase. Even then – the success would be in gathering micro amounts of money with no “movement” behind it to galvanise it – so can it scale?



One Response to “#micro patronage”

  1. One of the most successful micropatronage efforts that I have come across is kickstarter.com, “a funding platform for artists, designers, filmmakers, musicians, journalists, inventors, explorers…” It helps raise thousands of dollars per project.

    It works firstly because of an effortless user interface, which makes it painless to contribute and track the progress of projects.

    Secondly, and very importantly, it has a great feedback mechanism through progress updates and contributor rewards.

    Thirdly, as a contributor, you get the satisfaction of having selected a cool/meaningful/worthy project among several others. Selecting from several options hugely increases the feel-good factor. It’s easy to give money to efforts you personally admire, and it’s easier to find one you admire when it’s presented as one option among others that you care less about. (So teaches us supermarket shelf behavioural economics.)

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