Crowdfunding is a great alternative way to fund your causes from wedding expenses, school fees, funerals, medical bills or start up. But not all of these campaigns do well and many fall short of raising the much needed capital. If you want to avoid the same fate, you should employ the following strategies to optimize your campaign for success. .
- Think about your funding goal
When setting your funding goal try to make it as low as possible. Calculate how much money you need to cover your campaign goal and any extra expenses, including the fee that the platform takes. Do not look at crowdfunding as a way to make profit.
- Write a compelling story
You’ll only have a few seconds to make a strong impression on your visitors, so write a detailed, truthful and compelling description of the campaign you’re raising money for. Introduce yourself briefly. Focus on the reason for your campaign, how you will spend the money and what will be achieved.
- Market your crowdfunding campaign
Marketing your crowdfunding campaign is central to its success. Crowdfunding platforms will host your project but it is your responsibility to promote your campaign long before it starts and while the campaign is running. Set aside time before your campaign launch to use social media posts, email blasts, press, networking in your community, website promotion, exhibitions, local radio and promotional materials to create a buzz around your campaign. Aim to have a number of interested donors ready to back your campaign on day one of your launch. Some crowdfunders will have no marketing budget but they can reach out to bloggers, members of the press or community members including pastors and teachers to help spread the word.
- Gain social proof for your Campaign
Talk to your friends and family about your campaign – are they willing to donate and share? If the answer is no, it is unlikely others will be willing to donate. Ask your family and friends to spread the word on your behalf on social media, by email, whatsapp and other means available to them. Ask friends and their friends to pin your campaign on their social media walls, display your campaign link in their instagram bio and tweet about it. Promote your campaign on the networks that best match your marketing and content strategies and where your potential supporters are most likely to be found.The wider your social reach the better. Your social media promotion should be a daily activity till you have reached your funding goal. It is not a share it once and forget thing. The same goes for family and friends who are spreading the word on your behalf.
- Create a video that captures your audience and promotes your campaign clearly
Video clips give visitors a better idea of your campaign. Make sure that the video is interesting and clearly presents the message of your campaign.
- Communicate effectively and honestly with all your donors and potential supporters
Make sure you communicate clearly about your campaign progress, how much more money is needed to make it a reality and answer all questions that are directed at you.Leave updates in the comments section of your campaign page. All donors should also receive an immediate thank-you email after they make a contribution. Ask them to spread the word about your campaign via email and social media. Post thank you messages on social media as well.