So you want to crowdfund your business!
If you’ve decided that crowdfunding is right for you, you better get your marketing and organisational A-game on if you want to gather interest and raise capital. Luckily we’re here to show you how.
Here are five things you need to do to make your campaign successful.
Set realistic goals
Of course your exact goal depends on what your product is, but be careful not to ask for more than you need as this has shown to make a big difference to your success. According to the Kickstarter School tutorial for campaigning, people who ask for between $5,000 and $10,000 are most likely to succeed.
Draw in that “crowd”: get creative!
This is the internet. Remember that you’re just a click away from being dismissed, so your campaign page has to be immediately engaging. Make it as easy as possible for investors to digest information and navigate the page. Make a video trailer. Post photos. Make your campaign interactive. Have a sense of humour. Research from the Georgia Institute of Technology says that exact wording plays a major role in driving success. (The word “cats” is said to generate a strong positive reaction from investors, and G.I.T have responded simply by affirming the “commonly accepted wisdom that the internet loves them.”)
Keep your audience excited throughout the course of your campaign, not just as the start. Video blogs of progress updates would keep your backers interested as well as impress potential investors.
Spread the word
Start gathering interest now. You want people to be excited and anticipating your campaign before it’s even launched, so signal boost it across Facebook, Twitter, Tumblr and other social networking sites, and maybe even consider a pre-launch party.
Contact blogs, radio, magazines; all press outlets that might have an overlapping interest in your product.
Don’t think you’ve succeeded as soon as investments are made. You now have new people to keep happy and promises to deliver on. Keep check on supplies you need to meet demands. Have an active presence on your campaign forums by responding to your investors and giving them updates.
All or Nothing
The All or Nothing format of most crowdfunding sites certainly applies to running a campaign too. To maximise audience reach, you will need to spend considerable time researching, budgeting and preparing all of the above before you launch your campaign, and this could amount to months of work. If you don’t put your ‘all’ in when organising the campaign then it’s likely you’ll get ‘nothing’ out of it.
Crowdfunding is still a new process but already it’s clear that you have to cover the points above if you want to be successful. So be realistic, get creative, spread the word, maintain interest and put in the effort. And maybe even throw a few “cats” into your campaign description.