Monday, September 7, 2015

Crowdfunding Best Practices


Having a hundred people fund your project seems like a really great thing to do...and it is. However, there are a few key things that need to be in place in order for your project to succeed.

  1. Continue to cultivate your social media presence. There are countless platforms you need to be on but the biggies are still Twitter and Facebook. Engage with them. Let them know what you are doing and when you'll be doing it. Most people want to help out a friend or relative; many just do not know how to go about doing it. 
  2. When you do engage with your network, don't just sell your shpiel or pitch. Give them great content. Then, when the opportunity presents itself, ask them nicely. First, though, you'll need to engage them wisely.
  3. Make a strong video or two about the project. Statistics from other like-minded websites state that a video is likely to increase participation in your gig more than 200% more than no video at all. That's a huge increase. Certainly make a video for the crowdfunding site, but also make a couple to try and promote your gig.
  4. Go hard, fast. The statistics are also saying that you need to raise 30-35% of your target amount in the first 48 hours to get fully funded quickly. It makes sense if you think about it. Would you want to join in a project that has nobody signed up or those with 1/3 of the amount already raised? It's what makes social media so effective. It's the viral effect, so to speak.
  5. Don't beg people to join with you. No one likes a beggar. Just give your pitch and move on. Don't belabor the point and don't do the hard sell.
  6. Make absolute sure that you describe your project thoroughly and in simple terms. You've got plenty of time and space to tell people what your project is about so use it. Add lots of pictures. There's no need to go overboard. If you want to know if you have an effective draw to your project, ask someone close to you if they understand the project fully, and if they see ways you can improve it. It will take a bit of humility to actually implement that advice, but you can be sure that the advice is only mean to improve your project. Outsiders to the project will say what's on their mind if you give them half a chance.

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