4 Simple Tips For A Successful Crowdfunding Campaign

So you are ready to start crowdsourcing for your new product, project or cause. Well, what are you waiting for? All you need to do is open up a campaign on a crowdfunding website right? Once you do that, people will just start giving you money and wishing you luck… right? If you have never created a croundfunding campaign, it can be much more complex than you originally thought. You can greatly increase the chances of success by following a few simple and straight forward tips.

Put Others First

beggingIf you want to succeed when crowdsourcsing, you are going to want to put the needs of the many ahead of your own. One of the worst things that you can do is let the whole world know why they need to help you fix your problems. This will only come off as preachy or needy.

The whole point of crowdfunding is to give people a reason to want to invest in you and your product or idea. If they think you are simply begging for money, you will not get far.

If you are not creating a product that will feed the poor or cure a disease, make sure you have good perks. Though you may not convince them that your cause is worthwhile, they may contribute simply to get their hands on the intensives you have laid out for them.

Get Your Budget Right

balancing the budgetThis is one of the biggest mistakes that people make when they start their crowdfunding campaigns. They do not budget properly and after all the PR and perks, they are left either owing money or not having enough to complete their project.

Though it is important to get your name out there and to please the people who are contributing to your goals, make sure that you budget all of these costs in so you are not left empty handed at the end fn the day.

Learn By Watching Others

When you are promoting or selling anything, there are hundreds of potential mistakes that you could make. Why not learn from others? When it comes to crowdfunding, it is fairly easy to tell the winners from the losers. Take a look at a campaign that is nearing its end, did they reach or exceed their goal? Did they come short? If so, how much are they missing? Concentrate on campaigns that have done well and see what they have in common.

Of course there are certain factors that can not be mimicked. If you are not a charity, you can not use this a promotional tactic but you can see how they worded their ads. You can watch their social accounts and get an idea of what type of promotion they used. You can watch their videos and see how they chose to interact with the public.

These small tips will not guarantee that you create a successful crowdsourcing campaign, but they may help you avoid certain mistakes that could end up costing you a lot of money.

Never Underestimate The Power Of Social Media

social mediaIf you do not already have a large following on at least one social media platform, it is going to cost money to get started. Those of you who are not looking to waste their budget will need to make sure that the money you are spending on this venture will be put to good use.

Social media is extremely powerful and can make or break a campaign. Know which social media platform suits your needs (Facebook, Twitter, Pinterest, LinkedIn or Google). Depending on who you are targeting, Twitter may be more effective than Facebook. If you are unsure about which platform will be most effective, take a look at other companies in your niche. Search for their social accounts and see were they are getting the most interaction. Chances are that most of them will be gaining traction on certain platforms. This will give you an idea of where you should get started.

As you can see, there are certain things that you may want to take into account in order to have a successful crowdfunding campaign.