20 Kickstarter Tips to Run a Successful Crowdfunding Campaign
How do you prevent yourself from sounding like a beggar when you are launching a crowd funding campaign? It’s a simple two words answers – be passionate. You are asking for donations for your project about which you are passionate. It would be a fulfilling mission not just for you but for other people who believe in you and trust your line of vision.
Aspects of crowd funding process
The most efficient way to launch your product in the market is crowd funding. It helps you to analyze the demand and how to gather funds for your production run. You should have a prior knowledge about how your product is going to be produced and what is the costing going to be for each unit. The entrepreneurs can determine the demand for their product without investing too much capital through crowd funding. The crowdfunding process covers the following aspects:
- Raising money via online for a social cause
- Money is raised from organizations and individuals
- Money is raised for social causes, individual causes or ventures
Maximization of revenue from your crowdfunding campaign
It works out efficiently for entrepreneurs who use money received from pre-orders to fund their first production run. You have to explain to people the reason you need their support. People would want to know how you are turning your idea into a reality. Set up an emotional fundraising page. Tell an impressive story which will convince donors. Tell them explicitly what amount you are looking at and the money will be utilized for what objective.
Make an effort to reach out to maximum donors
Having a website helps. It helps the contributors to know about your company. It is proof that you are a legitimate business. You have to have a fair amount of traction on your website to let people understand that you are dedicated towards your cause. Make sure that the people know about your project. Make use of emails and request everyone you know to send emails to their own network to spread the news about the campaign. Link your project to social media sites like Facebook and Twitter. See if it is possible to involve the local media in your project.
Keep your donors updated
The features from one site to another site may differ, but the basic objective is the same. The non-profit organizations build an online campaign for raising funds and use the payment gateway of that website to receive money from contributors. Individuals can create pages for the charities they want to show their support and others will provide you an opportunity to set up a master page for your campaign. Some sites are working towards the production of products which can be used by art charities which are geared for supporting an art exhibition. Other sites work for non-profit concerns, and they support a broad range of organizations. Crowdfunding sites work better when there are specific projects are involved. They are not suitable for general funding projects.
Let us discuss some of the tips to run a successful crowdfunding campaign.
1. Clear ideas
Have a well defined project plan with clear ideas. No one will be willing to invest in partially baked ideas.
2. Avoid longer campaigns
Keep your projects short. Try to keep your campaign under a month because longer campaigns do not motivate donors.
3. Planning your video
Plan your video ahead of time. To give a professional touch to your video get in contact with someone willing to build their portfolio without charging a hefty sum.
4. Use compelling photographs
You should use professional, compelling photographs as much as possible. Use your network to find out people who are willing to work at low costs.
5. Put your numbers in perspective
You need to know how many units you require to sell to reach your goal.
6. Avoid showing desperation by asking for money immediately
Show your passion for your project. People sharing the same vision will be attracted to it.
7. Build a budget
On your campaign page, set up a clear cut budget which will invoke the confidence of potential donors?
8. Offer perks
Try to offer rewards to attract donors.
9. Easy to set up
Find out if the fundraising page is easy to set up or not. Take into account whether they need a special technical skill set to make the page or having a mere knowledge of HTML is adequate.
10. Use your network to reach out to people
Start spreading the news of your campaign using your network. Inform everyone you are familiar with about your campaign. Talk to not only your donors but tell your supporting staff and volunteers.
11. Customize your message
Divide your network into subgroups. Try to send out customized messages for each group.
12. Follow up
After sending out customized messages to each sub group, follow up on each of these groups to show your interest.
13. Keep your donors in the loop
Be sure to update your donors whenever possible. Keep them in the loop always.
14. Introduce your team
Let the people who are providing their support meet your team members.
15. Visual appeal
Different crowd funding sites require different customs. For some websites, you have to have beautiful pictures to back you up, but others require the use of video. So you need to see what will appeal the most to the contributors. You have to make the presentation of the project keeping in mind the restrictions imposed by each site.
16. Processing of the payment
You have to obtain information regarding the modes of payment available to the donors. Check and see if they accept all kind of credit cards. Calculate and see how long does it take to process the donations made online via this site to reach your account.
17. Cost of processing fee
See the total costs associated with this crowd funding site. Carefully check and see if there are set up fees and processing charges for a credit card. Find out about the costs involved in getting account statements from them.
18. Enough traffic
Check out the website traffic to find out if this platform is regularly used for raising funds for non-profit organizations.
19. Marketing strategies and networking capacity
Check out the site’s networking capacity. Find out if it is easy to navigate and get around on this site and how the site is helping you to spread the news about your campaign.
20. Have patience – approval of the project takes time
There are many sites which have provided the platform for raising money for different projects. They may range from video games to books, technology products or art collections and others. However, if you are thinking of raising money for your project through crowd funding, then you have to think carefully about your starting point and how to make sure that your campaign becomes successful.
Many sites have their set of rules to accept any campaign. They do not approve all the projects. The process of approval can end up taking quite a few days. Make sure you have a minimum two weeks buffer time in your hand before you launch the product.
Crowdfunding campaigns have become popular nowadays. However it has become highly competitive too. Success cannot be guaranteed for a crowdfunding campaign. However you can have a better chance of success by going through the techniques and strategies adopted by other similar projects.