Reports show that $17.2 billion is generated yearly through crowdfunding in North America. Fundraised through crowdfunding grew 33.7% last year, where 22.4% is the average success rate of crowdfunding campaigns. Crowdfunding is the fastest way to raise finance with no upfront fees. Pitching about your product through media can effectively market your idea and grab media attention. A few proven crowdfunding tips might be handy for early ventures or start-ups.
Crowdfunding Tip #1: DO THE RESEARCH
Records show that the most successful crowdfunding campaign organizers take an average of 11 days to research and prepare for their Crowdfunding launch. You may need less or more time according to your needs and requirements. Doing research includes:
- Checking out the top fundraising tips on the web.
- Choosing a suitable crowdfunding platform.
- Learning more about the ways to ask about the donation.
- Taking references from other successful campaigns and seeing what they have done right.
Crowdfunding #2: ASK EARLY FOR DONATIONS
Many budding entrepreneurs mistake setting up a campaign page and assuming that the investors will find it. The chances that an investor will come across your product and be compelled to fund it are extremely low. However, if you start promoting your idea on the same day you set it up, you can still find yourself in a comfortable position for crowdfunding success. It is seen that most of the f
Crowdfunding #3: BE SPECIFIC ABOUT THE IDEA OF YOUR PRODUCT
A few fundraising campaigns give you a vague idea about where the funds will be spent. If you are starting a fundraising campaign, you need to be specific about the idea of your product and how the donations will be used. If possible for your product, try to separate the donation amount to various levels so that the crowdfunding companies can understand which amount will help you accomplish which stage of the product development. If you are specific about the idea of the product and stages of the product d
Crowdfunding #4: WRITE A COMPELLING COPY WHEN YOU SHARE YOUR CROWD FUNDING PAGE
Most crowdfunding companies develop a general statement or tagline that goes along with the campaign’s URL or wherever you share it, like Facebook, LinkedIn, etc. Wrapping up your idea or message in one or two sentences is good to send out quick campaign promotions, but it is not different from what the other crowdfunding campaigns are doing. To make your idea stand out from the rest, you need to customize the copy of your funding page. For example, you can tell a story that describes the birth of this idea; you can give examples of your past accomplishments or talk about how much funds you have raised and how.