5 Steps to Making Your Crowdfunding Campaign a Success
August 28th marked the 50th anniversary of The March on Washington for jobs and freedom, where Martin Luther King Jr.’s famed “I Have a Dream” speech rung in the ears of attendees. To commemorate the historic event business owners and entrepreneurs from across the nation gathered in Washington, DC for the Kingonomics Conference on the previous weekend. A hopeful energy buzzed through the center as panelists discussed the theme for the conference—Emancipation of Capital.
But how is capital emancipated? One solution: Crowdfunding— reaching peers and converting them into supporters. Crowdfunding takes times and means—both in the creation and maintaining of a crowdfunding campaign.
QUICK TIP: Have 30% of your total goal raised before launching your project. This shows excitement around the project to encourage additional supporters.
Panelist, Leverage PR’s Joy Schoffler, offered insight into the intersection and importance of PR and branding in crowdfunding as well as helpful steps towards running a successful campaign.
- Build your network – Who would be interested in your project? Identify and understand your target audience and build a network that they’d be interested in being a part of. Examples: investors, customers, and fans.
- Clean up your digital presence – Let your online presence speak to your credibility and the fact that you deliver promised business plans— adding value to your clients’ hard-earned money.
- Get media attention – While being featured in a story about your work is great for media attention—opting to be a writer positions yourself as a thought leader in your respective industry. Looking for places to share your PR expertise? Sign up for HARO or ProfNet and make yourself available to be a source.
- Understand your industry outside of yourself – Stay on top of the changes, trends and news in your industry by setting email alerts and staying close to industry publications.
- Start connecting with your database – Schoffler admits that a large mistake that many crowdfunders make is to look beyond their own network. While it may be temping to attach a link in your fabulous newsletter saying that you are starting something awesome and that they should be a part of it, it’s better to get in direct contact with them first. After you directly connect—it’s easier to reconnect and provide them with something that they need before soliciting your business. Schoffler suggests prioritizing contacts into three lists by importance and probability of donation and reach out accordingly.
Crowdfunding is a great way to emancipate capital to work on great projects that will change the world! Now that you have some starting tips on how to create a successful crowdfunding project, why not go for it?
What projects are you working on that could use a little funding? Let’s talk about it in the comments below!