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12 Tips for Your Crowdfunding Project

08 Aug

 

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I wrote already about Kickstarter and IndieGoGo and other crowdfunding companies on this blog. Here are some valuable tips that will help your crowdfunding project:
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1. Research carefully all crowdfunding offers and read all of their guidelines and instructions. Follow lots of their “customers” and see how they are establishing and marketing their funding pley.
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2. Kickstarter, Indiegogo, and credit card companies do take a big cut! And it says this when you sign up… So, calculate this percentage into your budget.
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3. Make a business plan. YES, start your crowdfunding organized! This is a business! Check out your suppliers (funding companies), calculate conservatively the money you need and a little cushion for hidden expenses.
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4. Create a compelling pitch. If you’re crowdfunding donations, your fund-raising pitch should focus on emotions and get donors excited about your business, your product or service and your entrepreneurial passion. Decide the length of your campaign. If you go too short, it might not be enough time to get the word out, most campaigns are between 30 – 45 days.

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5. Prepare at the same time your update strategy – and prepare help to send out mails, either friends or a professional mass mail company. Don’t stop with one initial offer, your funders love to hear frequently from you, how the funding process and later the implantation process goes along. They love to see a result!

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6. Create attractive rewards for your funders – it must not be neccessarely monetary, at least not for the under $100 funds, but it should be a customized gift or one that shows your appeciation, such as a mentioning in a book or a film.

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7. Understand who your target audience is, where fans live online and how to reach them on social media. Prepare a spread sheet with email addresses as well and mobilize all your friends, family and aquintances to help you spread the word. Pre-promote your project on Facebook, Twitter, Email, Tumblr, Google+, or Linked and have at least thousand potential prospects before you start your campaign.

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8. Shoot a short, compelling video – or even better, several short videos, featuring yourself, explaining the project and showing enthusiasm. Get the media onboard, online and in print, try to get interviews and share your video(s).

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9. Create dialogues with backers, fans and media. Crowdfunding requires that you stay at the front of minds. And say thank you right away when they are donating and short before the campaign is finished.

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10. Imagine how valuable it would be to have a celebrity, respected industry leader or publisher endorse your project. Be creative to find them and get them on board. Get out of your comfort zone and let everyone, even strangers know about your project.

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11. Everyone loves to hear a story. What makes you’re project different from the next one? Explain to your audience what makes your project unique and share where the idea for your project came from.

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12. Be patient. Initially, you will get a bust from the people who jump in early then there will be a trickle… This is when you have to dig in, show maybe new videos, write updates, ask for more leds and be determined.

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Want to hear more tips? Download your “Crowdfunding Bible” for FREE 

And here are more articles to consider before you apply for crowdfunding:

Indiewire.com

Rollingstone.com

Indiewire.com

Pozible.com

Smartpei.typepad.com

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And don’t forget to spread the word on Twitter, Facebook, Google+, Tumblr or StumbleUpon – or other social networking sites of your choice) – other writers might also enjoy this blog and find it useful.

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Hyper Smash

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