4 Tips To Help You Run A Successful Crowdfunding Campaign
Running a crowdfunding campaign for the first time can sometimes feel like a daunting task, but it doesn't have to be. Our campaign advisors at Birchal and Pozible are always here to help.
Whether you’re running an equity crowdfunding campaign or a rewards based campaign very similar rules and tips apply to ensure that your campaign is as successful as it can possibly be.
Take a look at the tips below to ensure you’re prepared for your crowdfunding campaign.
1. Talk to people that have done it.
Before starting your campaign you should talk to people that have done it previously. Listen to people that have been successful and those that have not been successful.
Ask what worked, what didn’t and understand what the successful campaigns did differently to the unsuccessful ones so that you can be prepared and ready for any obstacles. Talking to previous campaign creators will provide you with valuable tips to save time, money and effort.
If you’re looking to launch a reward based crowdfunding campaign, it’s a great idea to attend a Pozible workshop. The workshop includes a Q&A with a previous campaign creator who will share their insights and tips with the audience. You can check out the upcoming events and register here.
If equity crowdfunding is more what you are looking for, Birchal run panel discussions with experts that will provide you some very helpful tips and even discuss equity crowdfunding case studies and examples. You can register here to attend one of these discussion events.
2. Plan for early traction.
Everything you do before you launch a raise online will reduce the risks of failure. Build a list of backers and segment them into two categories: most likely to pledge and somewhat likely to pledge.
Your core backers i.e., the ones most likely to pledge, are the people you should be approaching before even launching your crowdfunding campaign. Notify them of your intention to launch the campaign and ask for their support early on.
By locking down the first 20–30% of pledges before you go live, you will set the campaign up for success early. It’ll create confidence in your campaign, build momentum and get people talking about you.
3. Tell your story.
Backers and Investors need to connect with your team and believe in your idea. Demonstrate your knowledge of the problem you’re solving or the product or service you’re creating. Sell your brand and mission — and stir emotions with your online pitch.
A pitch video is essential to all campaigns. It’s a great and personal approach to telling your story and will help people connect with you and your idea. Humans are empathetic and will naturally feel more connected to the face behind the brand/idea, so don’t be afraid to get in front of the camera and tell your story.
4. Keep your backers updated.
It’s crucial that you keep your backers updated about the progress of your project during and after your crowdfunding campaign ends.
Updating throughout the campaign helps make the backers feel more involved in the project and encourages them to share your campaign. It also reassures them that you are working towards the goals and objectives that were stated in your pitch video.
Continuing to update your backers after a campaign ends is especially important for equity crowdfunding campaigns. Your backers are invested in your company, it is your responsibility to continuously update them. Remember to be transparent, open and honest.
If you need help running your campaign make sure you get in touch with our team:
Equity based crowdfunding: Birchal.com
Rewards based crowdfunding: Pozible.com
Check out these useful reward based crowdfunding resources:
+ Resource Centre — a step by step guide to running a successful crowdfunding campaign.
+ A playlist of training videos — an online course taught through video you can take at your own pace.
+ Soundcloud playlist of workshops & past successful project creators.
+ Rewards blog — for tips on what sort of rewards to offer.
