6 of my sneakiest crowdfunding tips!
Thanks for signing up to our newsletter, here are 6 of my sneakiest crowdfunding tips to help you smash your crowdfunding targets...
TIP 1: Logic wins
Be logical and work out how many people you need to buy your product/donate in order to reach 60% of your funding goal.
Next, add up the numbers of close friends and family you can count on supporting you AND the number of likely buyers from your email list and social media following. These two numbers should be close! If there is a large discrepency (and the number of contacts is much smaller than the number needed) do not launch right away. Instead build your crowd larger, or consider lowering your initial target.
TIP 2: Shop around
Before deciding on a crowdfunding platform, email your project idea to a few different platforms to get feedback and advice. If they don’t reply it might mean that they won’t be there to help during the campaign if things get tough (for example if pledges bounce or you need to extend your campaign length). If you’re lucky and they do reply – well you now have a personal contact at the platform who you can ask your questions to and get them to put you on the homepage.
TIP 3: Pre-launch practise makes perfect
Use your pre-launch period to test your campaign messaging. It is much easier to get someones email address than it is to get them to part with their hard earned cash. If you struggle at this stage your crowdfunding campaign is going to fail. Instead use this time as a practise campaign to test different messaging angles and content types so that when your campaign goes live you only put out messaging and content you KNOW converts your audience.
TIP 4: Gauge your engagement
Create a Facebook Event for your campaign in order to test the engagement of your following before launching. If only a small number sign up – only a smaller number still will pledge. By creating an event you are gauging your audience’s interest and moulding some of your following into key social media ambassadors. On top of this, your posts in the event are more likely to be seen than if you were to post onto your page.
TIP 5: Work the algorithms
Social media wants you to pay to boost posts and use ads, so be smart and work around that. Change your organisation’s profile picture and cover photo to ones relevent to your crowdfunding campaign and encourage your team, ambassadors, friends and family to do so too. Algorithms will favour this sort of change. Do it as you launch, as you hit the odd milestone and as you enter the countdown last few days. Be sure to include the link to your campaign in the description text.
TIP 6: OOO – this last one’s a good one!
You might think to only use an Out Of Office (OOO) when you are actually out of the office, AKA on holiday or sick. But no – be smart and subtle and put an OOO on during the first few days of your campaign and the last few days – that way anyone that emails you will not only know it’ll take longer to get a response from you because you’re busy, but they’ll also now be aware you are crowdfunding and have the link to go check it out (and hopefully support it!).
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Field and Flower
Jes was a real help with our crowdfunding campaign. We’re a very small team so it was great to have an extra pair of hands on side. She gave us excellent advice on managing our campaign and maximising our fundraising potential. Jes’ assistance with our press release was especially helpful, she was a real asset.
Jes ran the crowdfunding programme for 14 social entrepreneurs supported by Business Launchpad. Jess was an exceptional facilitator and coach and managed to support the young entrepreneurs gain skills in crowdfunding and raise more than £37,000 for their projects with 500 supporters. This had a big impact on the young people and their communities and enabled young entrepreneurs to work together, action their activities and gain the confidence to run campaigns and materialise their projects. Thank you Jes it was a pleasure working with such an inspiring young entrepreneur.