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Five Essential Crowdfunding
Tips for Success
Since crowdfunding is continuing to rapidly
grow worldwide, it is important to be aware of
some top crowdfunding tips.
Crowdfunding will help you transform the way you seek
out finances and engage with online communities.
Read on to discover five essential crowdfunding tips that
you must follow in order to make your business
campaign a success and help you achieve your funding
With the convenient online platforms of
crowdfunding, you and your business are able to
access loads of prospective backers who are
willing to contribute.
1 Shorter Campaigns Are More Successful
Often times, it is tempting for start-up companies to create long,
drawn-out projects to enhance the opportunity to drive up donations
and build a momentum for success.
Unlike popular belief, success rates actually drop the longer the project
However, short projects consistently raise more capital because the
deadline encourages lenders to pledge quickly.
In fact, those that last 90 days or more notice a 30 percent drop in
Therefore, make sure that the project length is around 20 to 30 days,
so that you can realize the average success rate of 60 percent.
Entertain with a Compelling Story2
Crowdfunding campaigns are more than just proposed products that
people may want to purchase; they are also meant to appeal to people’s
interests and passions in life.
Not surprisingly, campaigns that are focused on sharing a compelling
story are also the ones that inspire the most people to contribute to
Stories are the best way to take potential investors on a journey, teach
them, inspire them, and draw them in to make a pledge.
Usually, investors do not make decisions based only on numbers and
They tend to react to stories about your business’ origins, future
endeavors, and progress, because they will be interested in becoming
involved in the next chapter of your story.
Although the average success for campaigns is around 50 percent,
those without a good video plummet to a rate of only 35 percent.
Incorporate Engaging Crowdfunder Videos3
Crowdfunder videos also enable you to put a face to who is the
mastermind behind the project in an easy to share format.
Using a short video is one of the top methods of communicating and
pitching your business’ ideas across the crowd platform.
Since potential funders will not watch videos that are longer than three
minutes, it is suggested that you keep it short and engaging.
Draw in investors with an engaging video that clearly communicates a
concise message for the ultimate driver of pledges.
Offer Seven or More Reward Tiers4
If you try to start a project without offering a little reward in return for
their investment, you will quickly discover that few will take the time to
Research studies have found that seven is the magic number for
gaining a success in your crowdfunding campaign.
Most backers expect to receive something in return, so it is necessary
to provide incentives for their support.
In fact, campaigns that offer seven or more reward tiers consistently
achieve a 50 percent rate of success. On the other hand, those with
fewer reward tiers see their success rates dramatically drop down to
below 30 percent.
There are many options to create eye-catching and exciting rewards, so
pick ones that fit your campaign and create at least seven tiers for the
Select a Platform that Best Suits Your
There are now hundreds of different platforms for crowdfunding that
each offer entrepreneurs something special.
Before launching a campaign, ensure that you carefully think about
which platform will be the best fit for your project.
From Kickstarter and Spacehive to Fundageek and FundingCircle,
there are a variety of platforms that are tailored to fit business’
financing and industry needs.
Once you make the big decision, make sure that you keep these five
essential crowdfunding tips in mind for the greatest chance at breaking
your financial goals.
Please contact us today to set up your FREE 30-minute consultation with
Shane Barker immediately!