A stretch target is a second goal that you put in place in case you hit your first target! It's worth having a plan in place for if this happens, so that you can let potential supporters know what the extra money will enable you to do.
Please note: If you have set your project up as a personal project you will not have the option to set a stretch target.
So, you have hit your first target and want to set stretch target to keep your supporters motivated towards a new goal, or maybe you have worked a stretch target into your campaign strategy and want to add one in preparation.
Here is how...
- Go to the 'Targets' section in the edit project flow. You can do this before you go live and when you are live.
2. Scroll down to find the 'Set a stretch target' section
If adding a stretch target, think carefully about how to announce them to your community of backers. Take the time to explain your intentions, your motivations, and your plans. Any changes made midstream should be accompanied by an update to your supporters and remember to recognise what you’ve achieved together so far!!
I'm on all or nothing funding, what if I don't hit my stretch target?
You do not need to hit your stretch goal, as long as you have hit your original all or nothing target you will receive your funds.
Can projects overfund?
Yes, they can! Projects remain live on Crowdfunder until their funding deadline — which means it’s possible for projects to overshoot their funding target before the project ends. Once the target has been reached, the project receives all of the additional funds (minus our fees).