We already know what you're thinking, "say what?!" This may sound completely far fetched and unrealistic, but this is 100% real thanks to crowdfunding platforms such as Kickstarter and Indiegogo. Whereas some may think crowdfunding campaigns are only for large projects, entrepreneurs, or non-profits, these fundraising platforms really are a huge advantage for anyone that has an idea, dream or vision. Starving artists and musicians everywhere rejoice!
Before you start a campaign not knowing the first clue of where to begin, or maybe you're familiar with crowdfunding but don't know the steps to creating a campaign, read up on a few key tips to know and research before you're well on your way to funding that next EP or creative idea. While of course, this is no foolproof way to raise funds and it's not a guaranteed strategy by any means, if you play your cards right and do your research, you just may be that next crowdfunding success!
1. 30 day campaigns work best
According to research by Indiegogo of 100,00 campaigns, they found that campaigns which ran between 30-39 days were most successful in funding their goals.
2. Keep your campaign page updated
SO important! No one will be inspired to donate to a campaign that isn’t updated and maintained. Your backers will want to be kept in the loop with the progress and news of your campaign.
3. Start strong, finish strong
Indiegogo found that of all 100,000 campaigns studied, 42% of funds were raised in the first and last three days of the campaigns duration. Create a mid-campaign plan to keep the momentum going after launch, and before crunch time hits in the last few days.
4. Add new perks after launch
If possible, after offering perks with campaign launch, engage with and listen to your audience to find out what type of perks they want offered and deliver. Enhancing existing perks is also a great way to encourage contributions.
5. Work with a team
It’s no coincidence that it’s called CROWDfunding, as the most successful campaigns occur when a team is involved. Maintaining a campaign requires a lot of time, effort and energy. Having a team to help you out will ease the stress, and also increases campaign visibility if it’s shared with each person’s network.
6. Include a pitch video
It’s no secret that video content reigns supreme these days, think Youtube, Snapchat, Periscope and the newly introduced, Facebook LIVE. Indiegogo found that campaigns with a video pitch raised 4 times more than campaigns without a video, WOW! Updating your campaign with videos is also a great way to keep your audience and backers updated and engaged.
7. Maximize your global reach
If you take away anything from these tips, remember that crowdfunding platforms enable you to reach complete strangers from around the globe who may be genuinely interested in what you’re creating. When executing your strategy, keep in mind time zones and how to target specific countries.
For complete explanations of each tip, check out Indiegogo’s full article.