With 2020 underway, here are 20 reasons why you should think about running a crowdfunding campaign this year…
1. It will make you money. It seems bes to start with the most obvious one!
“ We reached our initial crowdfunding target in about 12 hours and had tripled our goal by the end of the campaign!” Drive Forward, crowdfunded 2017
2. You will get more customers/donors. Another obvious one but this one is more sustainable for you. If you have convinced them to buy once, what’s stopping you from turning them into life-long supporters who will buy from you again and again.
Swytch Bike went from being a brand new company with zero customers to having 1,787 backers on their 2017 Indiegogo campaign. They have since run two more successful campaigns too.
3. Your email marketing skills will level up. It is still the case that you make the most money during your campaign through email marketing. So running a crowdfunding campaign will increase your skills in this department and you’ll be writing persuasive and human-focused email newsletters in no time.
TOLFA crowdfunded in 2017 for 27 kennels for stray dogs and I still receive their email newsletters now because they’re so engaging
4. Your community is your best resource. Imagine turning your customers/donors into an actual tribe, an extended family that supports you, champions you and does more than just buy from you.
Silfir championed many of their supporters and backers during their 2019 Kickstarter campaign
5. Your customer/donor list will increase. Even if they don’t bite for the crowdfunding, this can only be a good thing as it promises sustainability for your business not just in 2020 but beyond.
“Our crowdfunding campaign has continued to have a knock-on effect in the way we communicate with our supporters” Airlabs, crowdfunded in 2018
6. Your social media will see heightened engagement. That’s never a bad thing.
“The most important thing I learnt was to post regularly and frequently and that the more you prepare in the preparing stage, the more successful you will be” New Ground Creations crowdfunded in 2017
7. You will become more succinct in your pitch. Having to make a video and tell people face to face, on email, on social media, etc all about your project, by the end of the campaign you will have that pitch perfect.
8. You will become a better storyteller. It’s not just your pitch, it’s the whole story people will want to know.
9. You will make some great PR connections. PR spreads the word further than your initial audience, it’s key for reaching higher funding targets. It will also be beneficial for your business in general not just during your crowdfunding campaign.
Ownbrown were featured on Radio, Newspapers, Blogs and even TV, They had 12 press pieces in multiple countries during their 5 week Indiegogo campaign
10. Your time management, project management and decision making skills will increase dramatically. Crowdfunding is go-go-go and nothing can be left til the last minute, you will quickly become more disciplined and organised and no doubt be shocked at how that sticks with you after the campaign has ended too. Many of our clients still use tools we recommended to them during the campaign, after the campaign to continue saving them time and effort.
11. Your confidence will increase dramatically. As the numbers of supporters rises and support comes flooding in from far and wide, you will feel on top of the world!
“The initial buzz of the campaign going live, the backers going up and the donations coming in is immense. You definitely feel a high with that!” Real Junk Food Sheffield, crowdfunded in 2018
12. You will realise how many people actually support you and your business. They say it takes a village to raise a child, and crowdfunding isn’t far different. You will get support from people you didn’t even think of. Sharing your campaign, telling their friends, encouraging you, providing pro-bono support etc.
“I was also getting emails from people wanting to volunteer their time and skills to help us succeed and to work with us when we finished. Before this, I had been struggling a bit and not asked for help and now suddenly I had so much help”. Anon, crowdfunded 2018
13. You will also see who are your real friends from your fake. It’s a sad truth. You will expect some people to support you who won’t and this will hurt.
“I asked my boyfriend a few times to pledge to my campaign. I let him know how stressed and depressed I was and how I really needed people to share so the backer number went up… he never gave to the campaign and knowing that really put a strain on our relationship”. Anon, crowdfunded 2019
14. You will enter a level of stress and tiredness you perhaps have not experienced before. Crowdfunding, plus a real job/running an organisation, plus a life, get ready for some intense long days.
“Crowdfunding isn’t as hard as I worried it might be, but it does require time and effort.” The Glacier Trust, crowdfunded 2019
15. You will meet amazing people along the way. Crowdfunding is a lot of networking and there are so many interesting people out there on incredible journeys.
16. Brexit isn’t going away. People power is becoming more and more necessary and crowdfunding is a great way of channeling that energy from the people into a united cause.
17. People want to feel a part of something. Over the past couple of years society has become more divided and crowdfunding is a great way of bringing people together over a cause they believe in.
“Crowdfunding has the power to connect you and your passion to like minded people bringing a sense solidarity and unity to your mission. It can also spur people on to be their best selves!” Snehalaya crowdfunded in 2016.
18. Why not? Everyone wants to push themselves, learn new skills, commit to something new and exciting.
“For several months it was an effective and fun and at points scary experience.” Fischy Music crowdfunded in 2019
19. You will be so proud of yourself and all you achieved.
Good Cake Day sums up crowdfunding pretty well in this quote
20. Lastly, let me reiterate… you make money! If you start planning now, in 4 months time you could have an extra 50k, or 100k in your business account! What’s stopping you? Imagine how great that would feel!
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