Today we’re giving away £1,000 to two exceptional food and drink business ideas. Want to win? Check out the competition page to enter.
Winners will need to be raising money on Crowdfunder in February to receive the £1,000 pledge from 123 Reg to make their idea happen. And hey, even if you don’t win you can still crowdfund your way towards sweet success.
To whet your appetite, here are our top five tips for crowdfunding your food and drink idea:
1 – Network
As with all great ideas, you need a Crowd behind you to make them happen. Before you start crowdfunding you need to think long and hard about your “network”. Identify your Crowd, work out who will help you spread the word and share your idea with their networks online and via email. Do you know people in the food and drink industry who can help spread the word for you? Are there local distributors you could be chatting up now?
2 – Focus on your target
You’ll want to set an achievable target. Ok, fab, if you’ve won today’s comp you’ll have a £1,000 pledge on your project, but how much do you actually need to make your idea happen? How many people do you need to pledge in order to reach that target? Remember to be realistic. With a well-considered target, you’ll have an idea you can actually make happen. Have a look at how Snact reached their target.
3 – Be social
How many people can you reach on your social media channels? You’ll want to look at that number and think about how you can engage everyone in a vibrant way so they understand what you’re up to and want to support your efforts. It’s always worth knowing how you are going to approach your social media networks before you launch on Crowdfunder. Plan plan plan – this gives you time to be reactive when you are live to expand your network even further. Need some inspiration? Check out some of your favourite food and drink brands in the UK to see how they engage with their audiences.
4 – Tell your story
No great idea became so without a story behind it. People pledge on people as much as great ideas. So make sure it’s your face, or the faces of your team who are involved in telling your story. A crowdfunding project has space for a video (keep it short and sweet) and a great space for a description. With words and imagery you’ll want to get across some key messages: what do you need money for, how will people benefit, why should people support you. And get creative and have fun! A video doesn’t have to be super-slick, but it needs to hook people in.
5 – Cue your Crowd and go live!
With a great network, an achievable target, a strong marketing plan and a good story, you’ve got all the basics lined up for a fantastic crowdfunding project. Get your friends and family to check out your project page before you go live and soak up their advice and suggestions. People like to be part of a Crowd, so show you’ve got one from the word go by lining up your closest networks to pledge as soon as you press the big button. Then build on that momentum to make your idea happen!