If you need to create a mega successful crowdfunding campaign? Here’s how.
With crowdfunding at an unprecedented peak in popularity right now, it’s easy to see how entrepreneurs might be wondering how on earth they can make waves among the countless new campaigns and projects.
With the right strategy though, it’s fairly easy to set up a campaign which will maximise the number of pledges and with that, the chances of achieving the target gains.
There are plenty of techniques that have been identified as being consistently present among some of the most highly successful crowdfunding campaigns. Here are some of the best!
Be prepared
It’s in our nature to want to become part of something we believe is going to be successful. When a new campaign has been well planned and executed, it will attract more support. There’s a huge difference between evolving your campaign as it progresses and incorporating new ideas as support grows, and not having a solid concept which has been properly thought out before the campaign launches.
‘What’s in it for me?’
This is the question that every single potential pledger will ask themselves. One of the major downfalls of many campaigns is that they sadly neglect this crucial factor. It’s essential that the offer, reward or perk in return for pledges has been carefully selected to reflect something that’s attractive and desirable to the target audience. The better the pledge reward, the higher the number of pledges!
Engage in advance
If social media presence doesn’t kick off until the campaign is launched, momentum will take a while to build. The more engagement and interest a campaign can generate in advance of its launch, the more likely it is that pledges will come in immediately. Use existing networks to begin with, and appeal for their help in achieving wider reach.
It’s important not to dilute the impact of social media by trying to split the focus across several difference channels, so try to pick the platform where the highest number of potential pledgers will be hanging out and will hear your messages.
Show your supporters who you are
Let them in. Allow them to get to know the project and the team involved. Show them the heart and soul, the motivation and enthusiasm before asking for money. The best way to achieve this? Produce a video. If there’s any way the budget can stretch to it, getting it professionally made is the way to go. This is one of the most powerful tools in attracting support and could make a huge difference to the campaign’s overall success and speed of getting to the goal amount.
Leave the amount up to them
Where appropriate, allow your supporters to pledge an amount they choose. This way they will feel more comfortable when making their pledge and will be more likely to support the project.
Communicate with your support base
Give regular updates on fundraising progress. Whether it’s where it needs to be or not. Your supporters deserve to be kept in the loop. Once the target is reached, make sure that everyone gets their reward.
Make information easy to find
If helpful materials and background to a project are accessible via the campaign website and social media pages, media coverage is more achievable and journalists may opt to promote the campaign. For larger projects, press releases and media packs are a must.
There’s no formula to absolutely guarantee the successful outcome of a crowdfunding campaign, but by following these fundamental lessons and researching strategies that have worked for other similar, successful projects any campaign stands an infinitely higher chance of achieving its financial goal.
Max started The Responsive Agency in 2014 to help business owners to navigate the fast-paced world of digital marketing. With a focus on solutions that offer high-performance growth, clients have seen dramatic increases in turnover and profit.