The concept of crowdfunding has continued to grow in popularity. Individuals, business enterprises, community organisations and social organisations have embraced the idea of leveraging the online space to raise finance for various projects. The increasing number of finance seekers has however not been growing in tandem with available investors and funders. Knowing how to run a crowdfunding campaign and getting considered by available limited investors is key. Here are some tips which will assist you to make your crowdfunding campaign a success.
Be realistic with your target and factor in your costs
Delivering rewards and devoting time and energy to a campaign can cost money. Factor this in when setting your target – it won’t all be net income. Crowdfund what you actually need, don’t get greedy. There is every chance you could raise more than your target, but you won’t raise anything if you don’t meet your target in the first place. Projects that reach 30% of their target go on to succeed in more than 90% of cases.
Create a video
Numerous studies show that potential investors are increasingly preferring short, quality videos over text. Make sure you include an engaging video on your crowdfunding page to lure in potential investors who prefer video over text.
Depending on the crowdfunding platform you use, you may be able to reach out directly to accredited investors. Check out what other types of campaigns they have funded, or see if yours is different but complementary. A personal touch can work wonders.
Social media strategy
Social media works wonders for any crowdfunding campaign. In fact, it’s one of the best ways you can get the word out even if you have a restricted budget. Use known platforms to schedule valuable content once or twice every week before you launch your campaign. You should plan to increase those numbers to about 10-15 times every day once your campaign is live. The must-have platforms for social media presence are Facebook, Twitter and Instagram.
Use promotion services
Crowdfunding is not just about launching a campaign: You also need to make sure you are using the right platforms to promote your project at the same time. Sites like BackerClub and Funded Today are some of the most noteworthy promotional services for crowdfunding campaigns.
Fulfil your promises
Work hard to meet all your stated timelines but, if you can’t, keep your backers informed. Most creators find that their backers are their best allies if they know what is going on. Failing to communicate with them will work against you for current and future campaigns.
The tips provided above will assist to successfully run a crowdfunding campaign.