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Almost 90,000 crowdfunding campaigns have failed to reach their goal in various crowdfunding websites.
They have made many mistakes which have led them to the path of failure. We explored their faults and found that most of them didn’t follow the right basics. So we are sharing the 20 tips and tricks to launch a down-to-earth crowdfunding campaign in a successful way.
Do plenty of research
A detailed research is a key to success. Most of the campaigns have incomplete research and that’s one of the reasons that they face failures.
You need to research about the scope of your idea, the right crowdfunding platform, marketing the idea, communication methodology, campaign timings, social media strategy and think in every prospective of your campaign and be prepared for it.
Select the correct platform
Choosing the right platform for your campaign is a challenging task. Based on the core concept of your idea, you can either select a popular website or a niche specific website. The website should have investors which have a positive approach to fund innovative ideas in your niche. Once you do so, you can quickly raise funds for developing your idea into a full-fledged project.
Post realistic campaign
Your idea might be sound great to you, but if it is not practical enough to exist in the real world, backers won’t fund your project. Sometimes after posting your idea, backers may think it is not achievable. So, it is always better to explain that your project can be executed in real time scenario. If you fail to explain them, you will fail to attract investors to your campaigns.
Be an open-book
Passion about your own work should be replicated in every phase of your campaign. Be genuine and transparent to your investors in explaining all information related to the campaign. For this you need to follow an innovative strategy to communicate easily to your investors.
Creativity should not only be in your idea, but also should reflect in the words you choose to explain your project. We recommend you to think from the point of view of investors and frame some questions. Answer all the questions effectively. Use casually creative content for social media blogs, blogs and email campaigns.
Tell your story
The trick to success is to indulge a personal story with your idea. This helps you to trigger the emotions of the investors. We also recommend you to showcase a problem and provide a solution in such a way that it can improvise their life. Then, the trick is to set a reward for the product. The investors who want the product will fund for it. Again, it all depends on the words you use to portray your crowdfunding campaign.
Display a stunning video
According to our research, we found that a campaign with video will raise 114% more funds than an ordinary campaign without video. Based on these findings, we recommend you to post your campaign with a 3 minute crystal clear video. It should be eye-catchy which can easily persuade the investors.
Mention required money to reach your goal
Setting a goal is easy, but making it look realistic and trustworthy is difficult. We recommend you to fix an amount, calculate the commission fee, transaction fee and then set up the fundraising goal.
Set campaign timings
An optimum campaign will be completed in 37 to 50 days duration. You may vary it according to the nature of your project. Hence, post your idea by including this time factor into consideration for the clear visibility of investors.
Grabbing the attention of the investors is a difficult thing. Social media networks, blog, email marketing and press release are the significant approaches to reach numerous people for explaining your idea and attracting them to your campaign page easily.
For creating trust amongst the investors, you can also provide the breakout of your plan and your development process. This will help the investors to know that you have a solid plan and are serious to implement it.
Frequently update your campaign
While researching for the secrets of a successful crowdfunding campaign, we found that a campaign which has atleast 4 updates per month helps to gain an average of 239% more money than a campaign without frequent updates. Use this efficient solution to your campaign to gain at least 25% of the investors within a few weeks.
Be loyal to your backers
You should be loyal to your backers by thanking them for their timely support to develop your project in a successful manner. You also need to be transparent in representing your project with required details like money, correct timings, etc.
Share your campaign
Unleash the power of social media website by sharing your campaigns in it. If you do so, you will get exposure and visibility from other users of these sites.
Comments for your campaign
Comments are one of the most integral part of your campaign. You may receive queries, wishes, appreciation, negative feedbacks from your backers. You need to reply every query in an effective way. This will help the backers to be in touch with you.
Be aware of social media network
Social media websites are a powerful tool which you must be aware of using it effectively. You can make the highest level of communication for promoting your idea through sharing on Facebook, posting in LinkedIn groups, commenting on discussions, sending bulk mails and sending messages to your existing network of investors. It can help you to increase your network circle easily.
Write articles on many websites to promote your campaign
You can write articles about your campaign in many blogs and websites which are related to your niche. Many people wish to read more about new innovative ideas. They might end up being the backers of your website. You will also get another online presence for your campaign.
You can also select the popular blogs of your niche and write a guest post for them. This will help you to attract their users to your campaign.
Update the progress of your projects
Regular updates in your campaign page will show the backers that you are serious about your projects. It will create a trust among the other backers of the website.
Multi-media press release about launching your project
Write a press release for promoting the project to the entire world. This will give you an initial boost to your crowdfunding campaign. You can also invite various journalists to write about your campaign. Don’t forget to add images and videos in your press release. If you do this step smartly, then you will see higher click-through rates for your campaigns.
Express your gratitude to the backers
Once the project is launched, you should thank all the investors who helped you to launch your project in a successful manner through incentives and rewards. This will add a layer of trust that you would keep up your commitments and provide them regular updates of your campaign.
Incentives and rewards
Rewards bring a lot of funds to your projects. Backers are keen to know what kind of reward they will get when they fund your projects. If you provide valuable or innovative rewards, you can raise funds easily for the projects. You need to provide different rewards for categories of investors who provide funds to develop your project.
We have provided about 20 tips for running a successful fundraising campaign. You can use these above tips, once you are ready for launching a groundbreaking crowdfunding campaign.