Crowdfunding Campaign Tips: How To Prepare A Good Crowdfunding Campaign?

5 Key Crowdfunding Campaign Tips you need to know to launch a successful crowdfunding project to bring your idea to life.

Crowdfunding is one of the most accessible and affordable ways of raising money for your project or business. You don’t have to undergo a credit check or pitch to a panel of venture capitalists. It also comes with many other benefits that help you start and scale your businesses in a sustainable way, such as gaining visibility and customers, getting market validation of your new products or services before you heavily invest into production.

Nonetheless, reaching a crowdfunding goal will require careful strategizing and planning, which includes but not limited to project content and videos, project length, rewards for backers, funding goal, post-campaign fulfilment. But, if you do it right, the efforts that a crowdfunding campaign requires will more than be worth it. Here are 5 KEY CROWDFUNDING CAMPAIGN TIPS and some statistics to help you plan the most successful crowdfunding campaign strategy possible.

Crowdfunding Campaign Tip 1. Visual and video

Crowdfunding campaigns with videos earn 105% more than those without videos. Remember videos do not necessarily need to be professionally filmed and edited, yet it does need to be authentic, precise and clear enough to help your prospective backers visualize your products and services and envision the difference they can make for you with their backing. A video just about you and your co-founders or your team explaining who you are, what your idea is and why you are so passionate about it can be a great addition to your project for local small businesses with a limited budget.

Crowdfunding Campaign Tip 2. Build crowd before launch

Crowdfunding projects that raise at least 30% of their goal within their first week are more likely to reach their final goal. 42% of funds are raised in the first and last three days of an average crowdfunding project. Here’s a simple 3-Layer Strategy that you can follow:

• 1^st layer of backers: Your family, friends and mentors – start sharing your project idea at an early stage with them, engage and obtain feedback. They will be your first circle of support once your project is launched. You can also get valuable input and advice from them to improve your work;
  
  

• 2^nd layer of backers: family and friends of your 1^st layer backers – after your 1^st layer of backers believed in you and backed your project, their family and friends will be more likely to support you. Don’t be afraid to ask them to share your project. In general, people love supporting women founders with passion and dream, and when they believe in you, it’s not hard to find others who do too;
  
  

• 3rd layer of backers: Communities and networks that you are in – now that you’ve got the support from your 1st and 2nd layers, your project should already be more than halfway funded. Now when people in your communities view your project, they will be more confident in your project and likely to fund you given the good momentum

Crowdfunding Campaign Tip 3. It’s YOU that makes your project different

Adding personal information to your campaign could get you 79% more backers. You could also consider team up with someone who shares the same passion and interest as yours – team-driven crowdfunding projects raise 38% more than solo projects. Remember it’s you that make your project or business different from the others. You don’t need to be great or perfect to succeed, you just have to be you. Believe in yourself and be authentic.

Crowdfunding Campaign Tip 4. Update your backers

Campaigns that updated followers regularly raised 126% more than those with no updates. A successful campaign admin posts an average of 4 times throughout their project. It is also worth keeping the interaction with your backers as they are your valuable assets to validate your product-market fit. You could also consider planning an update 3-4 days before your project end date to give it a final push.

Crowdfunding Campaign Tip 5. Email share

53% of email shares of crowdfunding campaigns convert into donations or pledges. While on average, 12% of Facebook shares and 3% of Twitter share convert to donations or pledges. Try to navigate the techniques of email marketing and also make good use of your social media influencing skills.

Crowdfunding is a great FinTech innovation that offers you alternative affordable access to funding, an effective channel to validate your product-market fit, and an interactive platform to gain supportive customers. However, to launch a good crowdfunding project, you need to plan and learn. The good news is – it is FREE to start a project with Lift Women, and funding is all-or-nothing, which means if you don’t achieve your funding goal, you won’t be charged any fee. You can always learn, improve and come back to try again. You don’t have to be great to start, but you have to start to be great! Dream big and we’ve got your back.