Monthly Archives: June 2012

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Successful Crowdfunding Starts With Planning

You have a project that you’re passionate about.  You know the basics of crowdfunding.  Now what?

Like so many things in life, crowdfunding success depends on hard work and planning.  I’ve included the links to three articles, one book, and a few videos on successful crowdfunding campaigns to help you research and plan your campaign.  These links and looking over other successful and unsuccessful crowdfunding offerings are a good place to start in planning your campaign.

You will find that these resources have some things in common.  I think of them as three areas of focus.  The areas are connecting, perks, and the pitch.  While success in business can be stated in the mantra, “location, location, location,” crowdfunding success depends on the three pillars of connecting, perks, and the pitch.

Successful crowdfunding campaigns usually tap into the project creators’ own network of connections.  Their family, friends, acquaintances, co-workers, and peers are crucial in helping to get the word out and offering some support for the project.  A well run campaign will also tap into is an interested community.  For instance, if you are making a documentary on sailing, it would make sense to post on sailing forums, be interviewed on sailing news sites, or even advertise on those sites.

A big part of connecting is letting interested parties know that your project exists.  Then stay connected with these parties.  Use social media, your kickstarter or indiegogo page, your personal website or even telephone to make sure you keep your supporters engaged in your project.  A motivated army of supporters will help to get the word out about your project.

Do people understand your project?  Do they get a sense of your passion about the project?  Can they understand why your project matters?  What are the perks?  Do they believe you can pull your project off?  A good pitch helps to answer these questions and more.  Your campaign pitch is very important in your success as a crowdfunder.  The most important part of a pitch is a good pitch video.  A good video can really launch a campaign.

Perks are the third pillar of crowdfunding success.  Perks are the sizzle to the steak.  Make sure your perks have worth to your supporters.  Also important is to make sure you offer perks at various price points.  Most successful campaigns offer perks at a number of prices: $5, $15, $25, $50, $100, $250, etc.

Campaigns are, by definition, a planned series of actions to achieve some goal.  The following resources should offer a good starting point in planning your strategy.  And remember to research other campaigns.  Knowledge about what works in terms of perks, the pitch and connecting to an audience, will help you plan smarter.  Finally, begin to use your community of supporters to help you plan your campaign early.  Supporters can help you attract funders and build your audience.

Resources:

http://www.theglobeandmail.com/report-on-business/small-business/digital/web-strategy/tips-to-score-crowdfunding-success/article2441053/

http://www.msnbc.msn.com/id/47576053#.T8UJOcVv4Z8

http://mashable.com/2012/05/25/crowdfunding-mistakes/

http://www.crowdfundingguides.com

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