The Dos and Don’ts of crowdfunding – 5 tips
A guest blog form Janelle Pierce
Running a successful crowd funding campaign can be great for your business. It’s a great way to accomplish your goals while bringing the community together to support you. Given that there are so many people involved however, it is extremely important to make sure you follow the proper dos and don’ts in order to be successful and keep those involved in the campaign happy they invested their time and money to help.
1. Do Make a Great Video
Making a video on behalf of yourself and your work is crucial to your success. Incorporate a video into your crowd funding campaign, because it offers people the opportunity to get to know both you and your business or project better. Be professional, and really focus on building a relationship with people not just asking for the assistance. Most importantly, this video is selling you so really use it as a way for viewers to see the person behind the idea. This will really help personalize your projec
2. Don’t Leave Out Rewards
In return for getting involved in your business or project, it is important to offer people a reward of some kind. This doesn’t have to be something expensive in fact you can probably come up with something free. Try to have a reward for every size donation, so that each person feels adequately appreciated for what they give.
3. Do Communicate and Involve Backers
Keep in touch with the people who back your campaign, update them about your business or project as it grows and once completed set up a website or mailing list specifically for backers. Try to make them feel involved and ask their opinion when you need advice, if possible even collaborate with some of them on designs or special projects.
4. Don’t Underestimate Time
Launching and completing a successful crowd funding campaign takes time, lots of time. Launching the campaign isn’t the only thing you have to do, it’s just the start. In order to be successful, your crowd funding campaign will require marketing. You will need to market to friends, family, social media and any outlet you can get your hands on. You shouldn’t expect to raise all your funds and resources all at once, so keep in mind that this will take time too.
5. Do Your Research
Before launching a crowd funding campaign, do thorough research into additional costs. Don’t forget to research if any of the products you need for your business or project will require shipping or a service fee, so that you can include these costs in your goals. Try to know the ins and outs well enough that you minimize or eliminate unforeseen costs outside of your budget.
Crowd funding is a great way to get your business or project started. All of the hard work, time and resources it takes to complete your goal will be more than worth it in the end. Following these suggestions can help your crowd funding campaign run smoothly and end in success.
Thanks to Janelle Pierce who lives in Austin Texas and helps businesses with their merchant account application. In her free time she enjoys kayaking, camping and listening to music.