How to Create an Effective CrowdFunding Campaign
If you are worried that your potential investor might reject your proposal, you should go for CrowdFunding. CrowdFunding is a means of collecting funds for your project from either one person or a large number of people on a platform via the internet. Here is how you can create an effective CrowdFunding campaign:
1. Sharing your Project Details
They are going to give you funds for starting your project. You must share core details about your project, tell who you are, talk about the origination of your business idea, your budget and how you grew passionate about the particular idea. So, all the potential funders should be assured that you are legitimate and credible.
2. Prototypes of Products
It is no secret that you should have prototypes of the products before you go for CrowdFunding. So, you should perform each stage of your project truthfully, getting products manufactured and delivering all other work on time after getting CrowdFunding successfully.
These details will convince the funders about your project, and you might get funded in no time.
3. Offer Funders Good Rewards
Every investor is going to fund your project because they will, in return, get rewards or an agreed amount of money. Your pledgers should be ensured that you will pay them greatly if they help you initially. However, only good rewards will not do. There are rules and limitations about what to offer and what not. There are many books written on the subject, grab one of them and have a good reading.
Also, you will want to be true about what you may have to offer and intend to actually fulfill it. Delivery of your offer is utmost important and a duty.
Your project will take some time and effort, so you must pledge offers based on realistic promises and time duration.
4. Setting up a Goal for Funding
There are many websites offering crowdfunding campaigns. Topmost websites include Kickstarter, Indigego, Patreon, Crowdrise and RocketHub, etc. You should first read thoroughly their goal funding models, and then choose any of them.
For example, Kickstarter has an all or nothing model. If you accomplish your funding goal, you get to keep the funds. If not, you lose all. Indigego is the opposite of this model. In Indigego, you get to keep funds even if you don’t accomplish your target.
5. Promote Your Campaign and Keep in Touch with Pledgers
In order to get enough funds, your audience should be aware of your funding campaign. You can promote your campaign on social media, blogs, YouTube Channels and though live events in different places.
While you are promoting, keep in mind that it is important to update your existing pledgers about the progress of your campaign. Otherwise, they might grow disinterested in you.
6. Fulfill Your Agreements
Your CrowdFunding campaign does not end when you accomplish your funding goals. It completes when you pay your pledgers according to the agreed terms.
CrowdFunding may give you the initial push you require to accomplish your dreams and goals.