Crowdfunding has opened the doors to many people with dreams that requiere money. However, if this is the first time you’re using this method of financing, ask yourself: do you have what it takes to succeed in crowdfunding? We’ll tell you today!

The key to success in crowdfunding

In several past entries we’ve talked about how to get success in a crowdfunding campaign. It’s always natural for a person to do a little research to know what’s the appropriate strategy. And while there are many good techniques, they aren’t necessarily what you need to achieve your goal.

It’s okay to try new things or explore tactics that you didn’t think of before. If they’re applied properly, they can propel your way to the goal. But we repeat: that’s not always the case. Taking this into account… What’s really crucial to increase the likelihood that a crowdfunding campaign will succeed?

Did you get the attention of people who might be interested in your project?

Regardless of what you want to do, you must have caught the attention of potential contributors. This is a job you must do before starting your campaign. If the right people don’t know you have a crowdfunding campaign, you’ll never be able to get contributions. Use any means to make it known.

Emily Best Seed&Spark
Seed&Spark CEO Emily Best says that “you can’t launch a campaign with three ‘likes’ on Facebook and five followers.” And that a community must be built through social networks. Source: Film Inquiry

Do your friends and family already know about your campaign?

Why is it important that they know…? Because you must ensure that 40% or 50% of the money you collect comes from them. Successful crowdfunding campaigns use this to generate what’s known as “calling effect”. People who see your campaign for the first time, will feel more confident to contribute because they’ll see that you’ve already raised a considerable amount of money.

Jennifer Coulombe Sam Nat babe
Jennifer Coulombe, founder and CEO of Sam Nat babe, tells how she prepped her friends and family before the launch of her campaign through social networks and a blog. Which allowed her to raise 40% of her goal in the first 48 hours. Screenshot: YouTube

Does your campaign have a video?

A campaign with video is more likely to succeed than one that doesn’t. If you have the possibility to do so, it would be good if you invest some money in producing one for your campaign. But if you cannot do it, there’s no shame in recording one using your phone. What’s important is to have an explanatory video where you appear talking about your campaign.

crowdfunding campaign pitch video
A crowdfunding campaign’s pitch video is vital because it’s the first thing that people will see when they enter your campaign’s page. A campaign without a video has a 85% chance to fail according to Funded Today.

Are you making enough noise?

The promotion will be vital to the success of your campaign. Before, during and after it. Use all the means at your disposal: social networks, traditional media and the most effective, email. You must offer recurring updates on the progress of your campaign through these means. And know how to locate key people (influencers) who talk about it.

Journalists, bloggers, media, any person or important entity that can write or talk about your campaign so you can attract more contributors.

Sabya Clarke Kickstarter
VR director, producer and writer Sabya Clarke, says that “don’t expect to raise everything via social media and online marketing. Pick up the phone and make calls within your network. Build relationships, if possible, before you launch your campaign.” Source: Medium

Are you taking your campaign seriously?

Doing crowdfunding is not about setting up your campaign and waiting for it to raise money. Throughout its duration, you must promote it with zeal and keep your audience informed. Answer their questions, clarify their doubts, appreciate the support they give you… It’s important that you make yourself be felt and that you don’t neglect your audience. Treat them well.

Sunny Williams Kickstarter
Tiny Docs co-founder and CEO, Sunny Williams, recommends allocating 30-40 hours per week to work on the campaign since its start. Answering questions, sending emails to potential backers, looking for PR opportunities and making phone calls. Screenshot: YouTube

It’s important that you focus all your efforts on your crowdfunding campaign once you start it. Promote it, make a video, look for contributors on your own and above all don’t lose the momentum that you gain by doing all this. From here, if you already took this into account, you can start working on other aspects that you didn’t consider.

Thank you very much for reading! We hope that this entry has helped you, if so, we invite you to share it on your social networks. That way you help us reach more people and allow others to benefit from it.

Related: How To Use WhatsApp Business To Improve Your Sales

Are you ready to start your crowdfunding campaign today…?