Crowdfunding can be a viable option for your business or a project and to do this it is good to start by asking yourself the following:
- What are you trying to achieve?
- Why a crowdfunding campaign?
- Have you done your research on crowdfunding?
- What is your income goal?
Identifying these elements can set you out on the right pathway to achieving your goal.
Why do people back campaign
- They want to support good projects
- They want to support creative people and their ideas
- They like your offers and want to be first to have one of your products
Few go for the big assets, and if they do, these tend to be form people you are already connected with.
Top tips for running a successful campaign
- Look into other successful campaigns on crowdfunding sites. What has made them successful?
- Want to know how a campaign works? Pick one you like the look of and emulates your idea and place a pledge for the lowest bid, this could be £5. This will give you access to the campaign and an understanding how a campaign works.
- What is your idea – can you describe it simply and concisely?Is it unique?Are you solving a problem? Are you providing added value?
- Is your idea fit for the crowdfunding platform you have chosen?
- Be prepared – is your product ready for production should you be successful?
- Have you done your sums? No point raising money for a campaign if you are going to be out of pocket in the long run.
- Prepare great visuals – a video is essential
- What is your budget you have to create your campaign? Time is money and so are the visuals.
- Have a set of good rewards and at different levels of monetary value.
- 1Set a low goal for your funding target; setting a lower target that is achievable quicker inspires more backers target, your campaign could go viral!
- Having a range of offers, even a low value item that could be a digital asset.
- Have you worked out your Timescale – do you have a deadline to raise the money by?
- Create a plan and plan backwards from your deadline.
- Do you have a network to help you spread the word? If not, we recommend spending time working on building a database or network before releasing a campaign.
- What is your back up plan if your campaign is not successful?
Crowdfunding platforms, here are some options: