At Crowdfunder we believe in helping everyone to make their project a success, but there a few key factors that you’ll need to take into account when starting your crowdfunding journey.
1 – What is your idea?
Does your product or service you’re planning offer something different? Who are the people that will benefit from your idea, how will their lives change because of you? Will you be giving them great rewards? Making them feel good? Creating a community for them to join and be a part of?
2 – What is your story?
If you can wrap up your project in a simple story, it has potential. Most of our successful campaigns are supported by a short video, ideally three minutes or less, which tells the story of how their project is going to impact on its supporters. Video’s need to establish an emotional connection with potential backers, supporters love hearing from project owners. Crowdfunding projects with a great vid are twice as likely to succeed (fact!).
3 – Have you checked in with your mates?
Have you talked through the detail of your project with friends? Crowdfunding helps generate funds for projects that are happily shared; your campaign will only succeed if you’re open about your people, finances and plan.
Is your idea interesting for your local media? Do you know of an appetite for your project outside your immediate circle?
4 – Are you ready to communicate your crowdfund?
Tell us, how are you at communicating? If you’re going to crowdfund, you need to be good, or willing to learn, it’s crucial you plan and manage your communications with razor sharp efficiency.
5 – Are you being realistic with your target?
Set a realistic target – the average pledge on Crowdfunder is £50, so for every £10,000 you will be looking to find on average 200 backers for your project. Not everyone will pledge on your project, so for every £10,000 raised you will be looking at getting 1000 to 4000 people to view your project page. Remember – you always have the opportunity to overfund!
6 – Have you got early-supporters ready to pledge?
Before launch we’d recommend being able to identify at least ten individuals who you know are behind your idea. Share the campaign with them, secure their early backing, and ask them to share your crowdfunding project and regular updates with their social networks. An average of one in ten visitors to a campaign page will pledge, so generate more interest than you think you need.
7 – Hold up – have you got some great rewards?
Ask your early backers what type of rewards they’d like to see. Make sure your campaign is going to fulfil, and maybe even exceed, the expectations of the people that are going to help make your project a reality.
8 – Have you thought about how you are going to promote your project?
Get the media interested in your campaign – send pre and post launch press releases; invite the editor of your local paper to a launch party; put posters up around your community. Get the word out, and do it comprehensively, tell your story in such a way that your supporters find it easy to talk about and share on your behalf.
Once you’ve identified which social media your backers use, communicate with unashamed abandon. Keep your supporters up-to-date with your campaign, thank them, offer them useful information, build a relationship with them, tell them how great they are for their support. Make them feel good.
Are you ready?
Do you think your idea has what it takes? Upload your project here, and be sure to read through our online guides to find out everything you need to know about crowdfunding – including marketing plans, reward ideas, video tutorials and much, much more.