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10 Tips for Launching a Successful Crowdfunding Project

Entrepreneurs: Learn why you should tap into the $4 billion U.S. crowdfunding market
and how to actually launch a successful crowdfunding project.


This presentation is part of our weekly newsletter. Subscribe for more interesting small
business/entrepreneurship content - delivered weekly to your email inbox.


How to raise capital via crowdfunding?


1. If your project is not interesting and solve problems, don’t bother starting a project




                                   Image credit: sodahead.com


Launching a crowdfunding project is just like launching any other kinds of business: If your
startup doesn’t stand out, you won’t likely to be successful in getting funding. It’s that
simple.
2. It’s all about the pitch, baby!




                             Image credit: sharondrewmorgen.com


You need to give funders reason why they should learn more about your project, let alone
pledging their money for your project. Just like any other great pitches, you need to do it
before you spill out the details about your projects. Craft one, cool pitch and woo your
potential funders.


3. Shoot a pitch video




                                Image credit: cherylanswers.com
Related to number 2, you must shoot a cool video about your project. Explain about your
project – what you are going to achieve; what problems you are going to solve; and so on. If
you want your video to grab attention and go viral (d’uh – of course you want it to be
awesome!) make something interesting, creative and spice things up with a bit of humour
and quirkiness.


4. Develop funding giveaways, perks that cater the wide array of funders’ budget and
interest




                                  Image credit: clker.com


Thanks yous are mandatory, but you often need more than those to get your project
successfully funded.


When people are interested in funding your project, you need to give them something to
seal the deal. Some funders are supporting your projects because they love your ideas;
some others are interested in your products and want to be the early user of yours; even
some simply want to be a part of your project, and ready to send over thousands, even tens
of thousands of dollar for that purpose (e.g. have your name as the Executive Producer of a
movie project.)
The bottom line, you need to offer perks that cater everyone – from your $5 funders to your
$5,000 ones.


5. Actively communicate and engage your funders and future funders




                               Image credit: tooserious.net


During the course of your project, be sure to communicate and engage your funders and
future funders actively. Respond to questions, updates with anything new with regard to the
project, and so on.


6. “Pre-sell” even before you launch your project.




                                 Image credit: picgifs.com
A good tactic adopted by world-class marketers, you should try to boost interest with your
viral videos, social media updates and so on – before you actually launch your project. Send
out emails to your contacts; “recruit” your friends and family to buzz the project launch
date, and so on.


Doing this will drive some buzz about your soon-to-be-launched project and will help you
securing backers’ funds early.


7. Launch social media and email marketing campaigns




                              Image credit: higherinnovation.net


This has become a standard in promoting a crowdfunding project: Launch a social media
campaign and drive your social friends and followers to your project page – and “convert”
them into funders.


Also consider to “blast” emails to your email newsletter subscribers; consider other ways,
such as using solo ads to “rent” others’ e-mailing lists.
8. Set milestones and launch new perks a milestone is reached – make it urgent




                               Image credit: forums.techguy.org


Updates like “Ok, guys… we have reached our goal – let’s shoot for the stars… Get X, Y and Z
to help us reach new milestone!” can attract new funders; it is also giving a sense of
urgency, helping you boost your funding – hopefully to pass your funding goal.


9. Choose the right crowdfunding platform.




                             Image credit: cleanenergywonk.com
Not all platforms were created the same. Choose the right platform which will give you
better chance for success.


For example, if your projects involves with charitable causes, IndieGoGo is for you. If your
project is a revenue-generating business, Rock The Post is for you. For more comprehensive
coverage on this, go to this Time.com slide


10. Use your crowdfunding project as a marketing campaign




                              Image credit: business-clipart.com


Crowdfunding is not only for someone to launch a product/cause. There are actually
established organizations who use their crowdfunding projects as marketing and branding
tools. Either way, you need to make the most of your crowdfunding project by embedding
your marketing messages into it seamlessly.


Further reading:

      10 Small Business Funding Ideas that Work
      How Being Quirky can Get Your Tech Startup Funding
      Inbound Marketing Lessons from Death Star Kickstarter Project


If you find this presentation useful, please kindly share with your network – many thanks in
advance!

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How to launch a successful crowdfunding project

  • 1. © BizPenguin.com Original source > 10 Tips for Launching a Successful Crowdfunding Project Entrepreneurs: Learn why you should tap into the $4 billion U.S. crowdfunding market and how to actually launch a successful crowdfunding project. This presentation is part of our weekly newsletter. Subscribe for more interesting small business/entrepreneurship content - delivered weekly to your email inbox. How to raise capital via crowdfunding? 1. If your project is not interesting and solve problems, don’t bother starting a project Image credit: sodahead.com Launching a crowdfunding project is just like launching any other kinds of business: If your startup doesn’t stand out, you won’t likely to be successful in getting funding. It’s that simple.
  • 2. 2. It’s all about the pitch, baby! Image credit: sharondrewmorgen.com You need to give funders reason why they should learn more about your project, let alone pledging their money for your project. Just like any other great pitches, you need to do it before you spill out the details about your projects. Craft one, cool pitch and woo your potential funders. 3. Shoot a pitch video Image credit: cherylanswers.com
  • 3. Related to number 2, you must shoot a cool video about your project. Explain about your project – what you are going to achieve; what problems you are going to solve; and so on. If you want your video to grab attention and go viral (d’uh – of course you want it to be awesome!) make something interesting, creative and spice things up with a bit of humour and quirkiness. 4. Develop funding giveaways, perks that cater the wide array of funders’ budget and interest Image credit: clker.com Thanks yous are mandatory, but you often need more than those to get your project successfully funded. When people are interested in funding your project, you need to give them something to seal the deal. Some funders are supporting your projects because they love your ideas; some others are interested in your products and want to be the early user of yours; even some simply want to be a part of your project, and ready to send over thousands, even tens of thousands of dollar for that purpose (e.g. have your name as the Executive Producer of a movie project.)
  • 4. The bottom line, you need to offer perks that cater everyone – from your $5 funders to your $5,000 ones. 5. Actively communicate and engage your funders and future funders Image credit: tooserious.net During the course of your project, be sure to communicate and engage your funders and future funders actively. Respond to questions, updates with anything new with regard to the project, and so on. 6. “Pre-sell” even before you launch your project. Image credit: picgifs.com
  • 5. A good tactic adopted by world-class marketers, you should try to boost interest with your viral videos, social media updates and so on – before you actually launch your project. Send out emails to your contacts; “recruit” your friends and family to buzz the project launch date, and so on. Doing this will drive some buzz about your soon-to-be-launched project and will help you securing backers’ funds early. 7. Launch social media and email marketing campaigns Image credit: higherinnovation.net This has become a standard in promoting a crowdfunding project: Launch a social media campaign and drive your social friends and followers to your project page – and “convert” them into funders. Also consider to “blast” emails to your email newsletter subscribers; consider other ways, such as using solo ads to “rent” others’ e-mailing lists.
  • 6. 8. Set milestones and launch new perks a milestone is reached – make it urgent Image credit: forums.techguy.org Updates like “Ok, guys… we have reached our goal – let’s shoot for the stars… Get X, Y and Z to help us reach new milestone!” can attract new funders; it is also giving a sense of urgency, helping you boost your funding – hopefully to pass your funding goal. 9. Choose the right crowdfunding platform. Image credit: cleanenergywonk.com
  • 7. Not all platforms were created the same. Choose the right platform which will give you better chance for success. For example, if your projects involves with charitable causes, IndieGoGo is for you. If your project is a revenue-generating business, Rock The Post is for you. For more comprehensive coverage on this, go to this Time.com slide 10. Use your crowdfunding project as a marketing campaign Image credit: business-clipart.com Crowdfunding is not only for someone to launch a product/cause. There are actually established organizations who use their crowdfunding projects as marketing and branding tools. Either way, you need to make the most of your crowdfunding project by embedding your marketing messages into it seamlessly. Further reading:  10 Small Business Funding Ideas that Work  How Being Quirky can Get Your Tech Startup Funding  Inbound Marketing Lessons from Death Star Kickstarter Project If you find this presentation useful, please kindly share with your network – many thanks in advance!