Many people nowadays settle down in social media and in their contacts to promote a crowdfunding campaign. But they ignore that this isn’t always enough to make it known. One way to get further is through strategic alliances. And today we’ll explain how to create them.

Using strategic alliances for a crowdfunding campaign

A strategic alliance can be understood as an agreement between two parties. Which seek to achieve a set of objectives that in the end, will benefit both. But throughout this alliance, it’s always clear that both parties are independent of each other. Even if they collaborate to meet a goal.

This occurs both in the work area and in the social area. Two companies can make a strategic alliance to help each other. But the same can happen between universities, organizations, foundations, institutions, etc. Even among individual people.

Purpose Strategic Alliance
The purposes of any strategic alliance are to reduce weaknesses, increase strengths, provide solutions, among others. Source: Digital Market

We’re always looking for a strategic alliance to be of benefit to both parties. That’s why they’re used in so many areas of life. Including the economy, banking and finance. And therefore, also in the world that concerns us: crowdfunding. How does this happen?

When a person creates a crowdfunding campaign, it requires promotion. It’s required above all to obtain the money that’s needed to carry something out. And many people decide to create strategic alliances to achieve these two things. How do you do this?

How to create and use strategic alliances in crowdfunding?

The first thing you should do is determine what your needs are. It can be more reach towards people, ensure contributions from the beginning of the campaign or make your campaign to reach the press. Once you know what you need, you have to find the entity or individual with whom you’d like to associate.

If you need more reach, you can make an alliance with a blogger, YouTuber, Internet personality, a digital marketing company, etc. If you want to guarantee a high contribution or early contributions, you can associate with a financial or networking institution.

Crowdfunding Strategic Alliance Internet Social Media
You can make a strategic alliance in person or remotely from the Internet. Take advantage of technology! Source: Bizfluent

Once you know what you want and who you’re looking for, you must create a formal proposal. Namely, you have to approach the entity or individual with whom you intend to create a campaign and make a presentation. You can call by phone and request a face-to-face visit. Or you can send an email with formal information about what you’re looking for.

Try to ensure the partnership before launching your campaign, to have it when you start. Make the presentation of your alliance proposal, explaining what your campaign is about and why you want to create such an alliance. Explain also what your objectives are, what role the other party will play and what the benefits will be.

Contract Alliance Crowdfunding
Be careful, if possible, establish a legal agreement or contract when you make your alliance. To establish rules and contingency plans in case the goal isn’t met. This depends on the type of alliance. Source: Guard-IT

Finally, prepare yourself for the answer you’ll receive. If your request is denied, do not worry. You can keep looking for more people and entities. If you achieve concrete an alliance, you must be responsible and fulfill your part of the agreement. And at the same time make sure that the other party does it too. Be cautious before starting a strategic alliance.

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Related: Crowdimpacting: Sustainable Financing For Companies

Create strategic alliances and achieve success!