For some inexperienced entrepreneurs the creation and implementation of a focused, result-oriented crowdfunding campaign could seem like a lengthy, complex process. After all, there are so many unwritten rules that you have to consider, certain expenses that you should factor in and lots of strategies that you should apply, in order to raise the interest of a larger number of potential contributors.
So what would be the best approach in this case? Could you actually maximize the success rate of your crowdfunding campaign? The answer is yes, as long as you keep your eyes on the prize and you filter, assimilate and utilize the crowdfunding tips listed below.
- Use crowdfunding tools to plan your expenses
Do you know the exact value of your startup? Undoubtedly, this is a tricky question for people who are not familiar with the crowdfunding industry and who have never owned a business before. Even so, you have no reason to let your campaign be buried by your lack of experience.
Rely on free, widely available crowdfunding tools to determine the risks associated with your startup and determine the value of your company. Analysis and planning software could enable you to: eliminate all your doubts and insecurities in the blink of an eye; determine the feasibility of your new business idea, and estimate the total expenses that it may require, throughout the entire development process.
- Allow contributors to play an important part in your story
All people, regardless of their social position, vision, mission, age and income, like to know that they’re an important part of something bigger than themselves. This is one of the main reasons why they join all kinds of causes and why they feel the need to make a donation.
Stimulate their interest and their generosity by telling a compelling, entirely realistic story. Show who and what is behind your fundraising initiative and how and why backers can make a difference in the lives of many people by getting actively involved in your project. Be transparent, empathetic and helpful at all times. Provide updates on your website and also on social media platforms, to keep your contributors in the loop.
Moreover, find the very best brand ambassadors who could represent your concept. By the way, did you know that these days you can pay celebrities and social media gurus to tweet about you and your company? Online endorsement can be your secret weapon, utilized to exceed the efforts of your main rivals on crowdfunding websites.
At the end of the day, once you finally manage to reach (or surpass) your initial goal, don’t forget to thank all your contributors. Personalized messages work best. Remember that this may not be your last online fundraising initiative, so take some time to express your gratitude in a sincere, friendly manner.
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