Explaining your crowdfunding campaign: Giving people a reason to give you money

People need a reason to give you money. Give them plenty of reasons.

For example, donors need to understand what you are raising money for. Explain your crowdfunding campaign, but keep it simple and tell your story in clear terms. Explain to donors why your campaign deserves to be funded. Don’t just say what you are doing, explain why you are choosing crowdfunding and how you are going to achieve your goals.

If you need some help, follow this simple rule journalists use to create the first paragraph of most news stories: Tell them Who, What, When, Where and Why.

Be excited about your crowdfunding campaign and tell people why they should donate. Your enthusiasm will help create excitement in your potential donors. Tell them why you are excited. Tell them why your crowdfunding campaign is important to you. Donors tend to fund ideas they are also passionate about and support people they know and trust.

It also helps to introduce yourself and your background. While your donors may already know you in most cases, they may not know your qualifications to complete your crowdfunding campaign. Explaining this can instill confidence in your supporters. 

Most importantly, make sure to include a video. The single most important element of successful crowdfunding campaigns is having a strong video that explains what you are doing, shows your supporters who you are, and lets them understand why you are so passionate about your crowdfunding campaign.

Have someone read over your crowdfunding campaign before you post it, and be sure there are no typographical errors or misspellings. Make sure the crowdfunding campaign looks neat and professional. Sloppiness will not impress supporters who are looking to help you become successful. If you cannot take the time to spell check and make sure your crowdfunding campaign looks good, why would a donor trust you to complete your crowdfunding campaign with any greater care than you took to post it online?

When explaining your crowdfunding campaign, be sure to give your audience lots of reasons to give you money. Tell your story, explain your strategy, show your excitement, include a video, and make sure everything is packaged professionally so your audience can understand why you are crowdfunding and why they should donate.

How to Run a Crowdfunding Campaign on a Tight Budget

The old saying goes – it takes money to make money. Many entrepreneurial experts argue on the truth of this statement, but they can agree that when it comes to crowdfunding, you have to be willing to put money into your campaign to tell your story, create compelling creative materials, and reach your audience. You don’t need to empty out your wallet, though. Although it is impossible to run a completely cost-free crowdfunding campaign, by setting a low budget and realistic goals, you can run a crowdfunding campaign on a budget.

Calculate your Budget

Before planning many aspects of your crowdfunding campaign, consider your crowdfunding goal and how it relates to your campaign goal. The higher your crowdfunding goal, the more money you should budget for building your campaign. Identify an amount you would be comfortable spending to build your campaign. Allocate it to the various aspects of your project: photography, videography, marketing, public relations, printed materials, and unexpected costs. Remember to leave a little wiggle room just in case not everything goes as expected. Once you have set your budget, stick to it.

Do it Yourself

When you have a small budget for your campaign, you will have to take on all of the aspects of your campaign on your own. Instead of hiring a photographer or videographer, utilize your smartphone’s camera. Many iPhone and Android smartphones have high resolution cameras capable of taking excellent photos and videos. If you don’t have a smartphone or would like to go an alternative route, look into renting photo and video equipment from a local business. Checking out photography guides online can help you utilize better lighting techniques and other tactics to enhance your campaign materials.

Search for Free Tools

There are many free tools out there that can help you with building and promoting your campaign. With free website builders such as Squarespace, you can create an excellent brochure webpage that can help you explain your invention and gather emails of people who are interested in your invention before you actually launch your campaign. With website builders, you can create a professional looking webpage without having experience in web design. There are also other free tools, such as Hootsuite, that can help you schedule your crowdfunding social media posts and view data relating to your invention’s social media presence. Additionally, some websites, such as CrowdfundingPR, allow you to list your invention’s crowdfunding press release on their site for free. This allows you to get exposure for your campaign without paying for advertising.

Create an Army of Volunteers

Your friends and family can be huge advocates in your crowdfunding campaign. Ask them for help whenever possible, whether it be for spreading the word on social media, passing out fliers, or helping you create your materials. Utilize your friends and family member’s talents for your campaign – if they volunteer, of course. Getting your friends and family involved helps them to learn and care about your invention crowdfunding campaign, teaching them to become great advocates. You can never have too many people helping you out!

Running a crowdfunding campaign does require an initial investment, but it is possible to run a crowdfunding campaign on a budget. Carefully calculate your budget, complete many of the tasks on your own, search out free tools, and gather an army of volunteers to help you build and spread the word about your invention’s crowdfunding campaign without breaking the bank.

Utilizing Your Personal and Professional Networks for Crowdfunding

There are several essential components to a successful crowdfunding campaign, including a great product or service, an impactful video, memorable rewards, and, most importantly, a network of people willing to tell your story. Without utilizing your personal and professional audiences for spreading awareness about your crowdfunding campaign, you will not be able to get the word out about your invention. It is important to reach out to people both through the internet and in person when looking for support on your crowdfunding campaign.

Personal Social Media

If you’re like most people, you have a variety of social media sites including Facebook, Twitter, Instagram, and more. These sites are a great way to utilize your existing network. Facebook and Twitter are the best places to start, but any additional sites are great as well. Post the link to your campaign along with a compelling call to action. Don’t be afraid to use humor! Tag your friends and family in the posts and interact with those who comment on them. Post different types of content, such as your campaign video, images, and text. Post no more than two or three times a week so you don’t annoy your friends and family. Even if your friends and family cannot contribute money to your campaign, encourage them to like and share your posts.

Professional and Niche Social Media

Sites like LinkedIn can help you reach out to professional contacts. Keep these posts straightforward and serious; include links to your campaign and other vital information, but leave the humor to Facebook and other personal sites. Write these posts like you are pitching your invention because there are many business people on LinkedIn.

Consider joining niche forums that encompass your invention idea. For example, if your invention is a kitchen gadget, look for online forums for cooks, both professional and hobbyists. Make sure not to use an overly promotional tone when reaching out to these groups of people. Just tell them the facts about your campaign and entice them to take a look.

In-Person Friends, Family, and Community

You’ve probably told your closest friends and family you are starting a crowdfunding campaign, but don’t be afraid to also reach out to your extended circle as well. Create some business cards or flyers and keep them with you in your car or purse so when you see your extended network, you can briefly tell them about your invention and give them materials to look into later. This can be applied when going to community events, as well, such as church, clubs, or local sporting events. Keep your pitch brief unless the person you are talking to is very engaged with what you are saying. Encourage people to find you on social media and share your posts as well as mention your invention to their personal networks.

In-Person Work

Although you may be tempted to post up by the water cooler and tell every thirsty passerby about your invention and crowdfunding campaign, try to quell your enthusiasm a bit. Casually mention it in conversation with your work friends, and if they bite the hook, give them additional details and tell them how they can donate. This would be another great opportunity to pass out your business cards and informational materials to those who are interested. If your workplace has a bulletin board, put flyers up and encourage people to come and ask you questions. One thing to remember when pitching your crowdfunding campaign at your job is to be sure not to distract from the reason you are there – to work!

When you run a crowdfunding campaign, you rely on your friends, family, coworkers, and acquaintances to help you spread the word about your campaign. Reach out to your network, provide them with information about your campaign, and encourage them to share it with others. Whether online or in person, know how to pitch to your network and give them the tools to help you.

Creating Compelling Rewards for Your Crowdfunding Campaign: Part 2

In part one of this series we told you how important it is to have interesting and valuable rewards in your crowdfunding campaign and provided you with some ideas for your crowdfunding rewards. Need some more ideas? Check out 5 more rewards to help you with your crowdfunding campaign.  

6. Unlike traditional funding methods, crowdfunding with Fund an Idea allows you to get people engaged and excited about an idea before your product is ready. These supporters can be invaluable when you’re ready to hit the market – imagine a scenario where you don’t have to advertise or pay for marketing because your supporters and funders are spreading the word for you virally! One great way to capitalize on this potential is to offer supporters the opportunity to be part of your product outcome. This could be as simple as a survey for lower dollar contributors that allows them to take part in deciding the features you’ll include, or a contest for higher level donors for naming your product or invention. As an added perk, you could credit the contest winner on the item itself, or on your website.

7. Offer an experience. Crowdfunding rewards such as a night on the town, a trip to an interesting location, or even a day working at your business are not only interesting, but they actually work. Crowdfunding “experience” rewards sell, and people routinely pay hundreds, and sometimes, thousands of dollars for them. You would be shocked at what people will pay to shadow the CEO for a day, and you would be even more surprised what people will pay to go surfing or skydiving with you.

8. A fabulous way to give donors greater incentive to fork over more of their cash is to add an exclusive upgrade to your highest reward level. This can be an invitation to a launch party or post-project event, or a well-planned group activity for all your top contributors. People love to feel appreciated, so let them know they can expect some star treatment at the end of your Fund an Idea campaign.

9. Don't forget the low-end. A reward that makes a personal connection shows donors you’re real and you genuinely appreciate their support. There are tons of possible ways to achieve for all of the contribution levels you establish. For smaller donations, a "thank you" shout out via social media is quick and easy for you, but also gives the donor public recognition and is a great way to promote further awareness about your campaign. For contributions that are a bit larger, entice potential donors by rewarding them with more personalized interaction in addition to the social media shout out. Perhaps you can offer a chat or phone conversation with you. If a donor is generous, be generous in return by rewarding them with a group or one-on-one lunch, permanent recognition on your completed project, or even an invitation to a post-project party that’s just for your top contributors.

10. The goal of your project is to raise funds, so keep that in mind when you’re choosing rewards. While it would be nice to offer pricey items for each and every contribution, you need to structure your rewards so they match the dollar amount contributed and don’t put your campaign in the red. One way of staying in the black while your project is underway is to offer a future freebie or discount on a purchase of your product or service. It’s your responsibility to ensure that contributors receive their reward, whether it’s while the project is ongoing or when it ends. When deciding what reward goes with each donation amount, be sure to add in the cost of delivery on tangible goods. Doing so can save you hassles and headaches when you’re trying to determine your net project proceeds at the end of your campaign.

Your rewards for your crowdfunding campaigns should always be creative, unique, and applicable to your invention story. By engaging your audience through great rewards, you increase the likelihood of having your campaign fully-funded.

Creating Compelling Rewards for Your Crowdfunding Campaign: Part 1

The best way to get people to donate to your rewards-based crowdfunding campaign is to have interesting and valuable rewards in exchange for a contribution. This two-part series will give you all you need to know to have great rewards that give you the best chance of reaching your funding goal.

Thoroughly think through your rewards. Look at other similar successful crowdfunding projects and see what they did. Learn from their successes and use them as inspiration. Have your friends and family review your plan and ask for their input. Make sure you have a compelling story, something that will make people care, and interesting rewards that fit into your story. Here are some tips on choosing rewards that let your supporters know how much you appreciate their donation without breaking their bank. 

1. If you are planning to launch a new product or service, offering it through a crowdfunding portal like Fund an Idea allows you to offset the costs of manufacturing or other costs you’re going to incur. Early adopters are often willing to pay a premium over mass market prices so they can say they were the first to try the product or service. If you already have loyal customers from your crowdfunding campaign when you launch your product to the masses, you have people who not only value your product and services, but also identify with your company who can be proactive to help you succeed. You have a customer and a brand ambassador.

There are two trains of thought when it comes to pricing pre-sale items. First, you can offer your product at above-market value. This type of reward helps donors understand that they are also investing in you and your project, not just buying something of value. Second, you can offer your product at below-market value. This type of reward will attract donors who are interested in helping you, but are also motivated by the addition of receiving a bargain for their hard earned dollar.

2. Limited editions and one-of-a-kind reward items are always a hit with potential supporters. The sky is the limit on how you can incorporate these into your rewards structure. You can offer a unique or enhanced version of your product or invention that will never be available to the public, or other awesome collector items emblazoned with your logo. You can offer these goodies to the first ‘x’ number of supporters, or alternately, you can create a distinct, mid-range contribution level specifically for this type of reward.

3. Just like with Groupon, people will pay for a discount, a coupon or a price break in advance. A crowdfunding campaign allows you to give a clear message to your customers rather than just making you another name in their daily deal email. If your business has a 50% profit margin, consider selling a 25% off discount card for $100 that is good for a year. While it cuts your profits for that one person, you get money up front, more customers coming in with the donor later at full price, and the money you make through donors who do not remember to use the discount later.

4. Offer recognition or a “credit.” A common reward for many crowdfunding projects is to list sponsors on a website, thank them on your Facebook page, or give other recognition. While we won’t be cynical and say that acts of generosity are often self-serving, the reality is that many people love to be recognized for their actions. Charities publish long lists of donors to offer both thanks and recognition.

5. Offer a “naming” right. If you can name a product or service after a donor, you not only have a customer for life, but also a walking billboard for your business. If you own a restaurant and name a sandwich after someone, that customer is coming back time and again. It costs you nothing but that proud person will be a repeat customer, and give great word-of-mouth marketing that brings you other customers.

Coming soon: Part 2 of this series where we tell you about other cool things you can also offer like getting input from your supporters and offering thrilling one-of-a-kind experiences!

 

Building a Social Media Team to Help your Crowdfunding Campaign

Most people with crowdfunding campaigns try to do it all on their own.  Taking the initiative and showing off your entrepreneurial spirit is all well and good, but consider the advantages of building a team to help you try to successfully fund your crowdfunding campaign.

Crowdfunding campaigns involving a team typically raise more money and have a better chance of reaching their funding goal.  Given that crowdfunding campaigns are usually funded primarily by your friends, family, and those within your sphere of influence, having a team means more friends, family, and others to ask for donations.  Logically, the more people involved with your crowdfunding campaign, the more people you will be able to approach about funding, and the greater likelihood of fulfilling your goal.

If you have decided that there is no “I” in team, and you are ready to put yours together, here are some things to consider:

Pick teammates with a large network.  Who brings the most Facebook friends, Twitter followers and LinkedIn connections to the table?  That person is a good teammate.  Who has a large e-mail list they can blast out information to in a short period of time?  Your new teammate, that’s who.

Pick teammates who know how to use social media and who are online a lot.  We all have a buddy with 2,000 Facebook “friends” who posts what he ate for breakfast every day.  That guy is probably not as good a teammate as your friend who has 500 Facebook friends, but they all engage in daily conversations with her about whatever she posts.  Also, a friend with 1,000 Twitter followers but never tweets is not as good as someone who has 500 Twitter followers and actively tweets, retweets and follows Twitter on his cell phone all day long.

Beware of overlapping networks.  Your best friend who has the same Facebook friends as you and who runs in your same social circle is probably not the best teammate. At least, not in terms of broadening your network of possible supporters.  Look for teammates who have new groups of people they can bring to the table to supplement the groups you have already tapped.

Bring in teammates who will actually help.  That person your neighbor’s best friend’s mother-in-law introduced you to once 6 months ago who has 50,000 Twitter followers, is she a good teammate?  Probably not, unless you somehow engage her in the process.  She may have access to a lot of people, but will she have any reason to help you?  Will she interact with her followers for you, or just post something then ignore it?  The best teammates are those who will work their contacts and follow up with them for you.

Setting a Goal and Deadline for Your Crowdfunding Campaign

Starting a crowdfunding campaign begins with two steps: 

1.           Decide how much money you want to raise.

2.           Decide a reasonable timeframe to reach your goal.

Deciding how much money to raise is very important. Create a budget for your crowdfunding campaign, and make sure you have taken into account not only how much you need, but also enough to cover any expenses involved with the rewards you have promised your donors.

If your crowdfunding campaign is going to require a lot of money, but could be completed in stages, it may make sense for you to split it up into multiple campaigns. Create a crowdfunding campaign for the first stage, meet your goal, and then complete that stage before moving on to stage two and another crowdfunding campaign. This allows you to have attainable goals, and to give donors the opportunity to see your progress and your ability to follow through on promised rewards. It also gives you a built-in audience of donors for the next stages as you move your crowdfunding campaign along.

Your deadline is just as important. Research has shown that 30 days is the best timeframe, but you are able to choose from 30, 60, or 90 days on Fund an Idea, depending on what suits your campaign. You are the primary marketing force for your crowdfunding campaign, so the more you do, the better chance of reaching your goal. Most people work better with shorter deadlines where you can create a sense of urgency.

Be ready to start promoting even before you launch, and the day you launch your crowdfunding campaign you need to really ramp up the marketing efforts, because the deadline starts looming immediately. Most successful crowdfunding campaigns get at least 30% of their goal donated on the first day, which proves that a strong early promotional push is very important.

Before moving forward with your crowdfunding campaign, planning is very important. Decide how much money you want to raise and what timeframe works best for you before jumping in headfirst.

 

Show Your Appreciation with Crowdfunding Rewards

A reward is something you offer donors in exchange for their financial support of your crowdfunding campaign. Rewards give contributors an incentive to help raise money for your crowdfunding campaign. When you create your crowdfunding campaign, you can list as many rewards as you want, but be sure to make them enticing.

Rewards are best when they are personal or unique to your crowdfunding campaign. Your brand and personality should shine through in your rewards. People are more likely to give larger donations for tangible rewards, but they will also pay for experiences, like meeting you or being a part of your crowdfunding campaign in some way.

Be sure when you price your rewards you include the cost of shipping in the price. At the end of your crowdfunding campaign, it is your responsibility to fulfill any rewards you promised to your donors.

You should be offering affordable rewards in the $10-$25 range. This will make it easy for anyone to help with your crowdfunding campaign. Examples of affordable rewards include a thank you, a listing of donors on your website or in some printed form, a shout out on Facebook or Twitter, a limited edition item, an autograph, or a drawing. The most common donation is $25, so be sure to have some affordable rewards at that amount.

You should also offer your supporters rewards at mid-tier levels. More than 90% of all donations are at or under $100, so offering rewards in the $25-$100 range is very important. The average reward donated is $75. Many crowdfunding campaigns use this range to offer one of two things. See which fits best for your crowdfunding campaign:

1.      Offering products or services above their market value. This type of reward helps donors understand that they are also investing in your and your crowdfunding campaign, not just buying something of value.

2.      Offering products or services below their market value. This type of reward will attract donors who are interested in helping you, but also seeing that they have received a bargain, something important to many people who want to support you, but feel they should get some bang for their buck.

What can you offer as a reward?  The possibilities are endless. Look around at other crowdfunding campaigns for ideas.  Ask your core supporters for their opinions before you launch. Some ideas to help you decide what to offer include:

  • Advanced sales of your product or service. Limited supplies are always good rewards.
  • Discounts on future purchases, such as coupons or gift certificates.
  • Merchandise with your logo on it.
  • A thank you or recognition, including “credit” on your website, in your film or in your book, if those are part of your crowdfunding campaign.
  • Invitation to a party, a premier, a book signing or another event.
  • One-of-a-kind experiences that are related to your crowdfunding campaign (a shout out from the stage at a concert, a walk-on in your film, spending a day with you at your business)

In order to launch a crowdfunding campaign, you must have rewards listed on your campaign. Brainstorm some ideas, ask your family and friends their opinion, and get to work!

The Art of Self-Promotion for Your Crowdfunding Campaign

A crowdfunding campaign is not like the baseball field in the movie Field of Dreams. Just because you built it, do not expect that people will come. You must promote your crowdfunding campaign for it to be seen by the masses. Promoting your crowdfunding campaign takes some planning, a little organization, a good pitch, execution, and a lot of persistence.

Planning:  First, you need to define your network. List all of your family, friends, neighbors and acquaintances.  Go through your cell phone contacts.  List all of your e-mail contacts.  Add all of your Facebook friends, Twitter followers, LinkedIn contacts, and other social media people with whom you are networked.

Organization:  Categorize your network.  Determine who are your most likely supporters.  Put those people who are most likely to contribute into your “core” category.  Then, take the remaining network members and put them into categories. You might have a category for Facebook friends, for example, who you will reach out to through messages and posting on Facebook.  You might have a group of neighbors who are phone contacts.  You may have an extended network of family members who you see rarely, but you have addresses for from a family reunion.  Put everyone into a category, and make sure they do not appear in more than one.

Categorizing your network is important because when you start pitching your crowdfunding campaign, you can use these categories to increase your donations.  Let’s say you have a category for high school classmates that you e-mail as a group whenever you have a great joke, or news about your old school.  When you pitch your crowdfunding campaign, pitch them all at the same time, and let them know they are all being pitched.  When you get your first donation from someone in the group, let them all know that someone in the group donated, and how you are now closer to your goal.  Psychologically, two things happen: (1) people like to join the crowd, especially when they see success and (2) many people do not like to be outdone by their peers, so they will feel compelled to help you also.

A good pitch: Make sure your pitch is clear, concise, has a good video, and makes people want to help.  Have an “elevator speech” ready.  An “elevator speech” is a pitch for your crowdfunding campaign you could give someone in the time it takes to ride in an elevator.  Always know how to describe your crowdfunding campaign in a short paragraph and be ready to give your elevator speech to new people you meet who may be interested.

Execution: If you do not ask for help, you are not going to get it.  So, start asking. Go to your core group before you launch and ask them for help spreading the word, and ask them for a donation. Post your crowdfunding campaign, then let the world know. On your crowdfunding campaign page, Fund an Idea has links to share your crowdfunding campaign through email and social media. Go to your network.  Post on Facebook and Twitter.  E-mail your contacts as a group.  Call people in your phone contacts and give them your elevator speech.  Get the word out however you can.

Consider sending a press release to the local media.  A good press release can help you get interest rolling for your crowdfunding campaign from people who are outside your normal network. A press release sent to your local media may get you an article in your local newspaper or on their website or an interview with a radio or television station.  Good publicity helps in many ways, and be sure to share the publicity with your network through Facebook posts, Tweets and e-mails containing links.  People like to be associated with achievement, and getting media coverage is a sign of this.

Persistence: Remember, you only have a short period of time to reach your goal, so you have to be persistent.  If someone writes back via e-mail, be sure to follow up immediately. If someone posts on your Facebook wall, make sure you comment back and thank them.  If someone tweets about you, or sends you a message on Twitter, answer them and retweet if it makes sense.  Return all phone calls promptly. Make sure you get out any rewards that you have promised.

Update often!  People want to see that you are engaged and still excited.  Crowdfunding campaigns with frequent updates are far more likely to succeed than those without updates.  Every 2-3 days, you should update your followers and your network on your efforts and what is going on.  Remember, you only have a short period of time to get funded, so use that time wisely.

Most importantly, make sure people know about your milestones.  When you reach 10% of your goal, let people know.  When someone donates and gets a reward, blast out to your entire network that you just sent Aunt Mary the apple pie you promised in exchange for her $25 donation.  As your deadline nears, tell people how close you are, and ask for help.  Most importantly, personally thank everyone who donates to your crowdfunding campaign. 

 

Writing a Great Pitch for Your Crowdfunding Campaign

How many times have you seen a blog online, or an article in a newspaper or magazine, and when you realized how long it was, you simply stopped reading it? Online, people are especially intolerant of lengthy written pieces. If anything is long-winded or too wordy, chances are most people will not bother to read it.

Remember KISS. Keep It Simple, Stupid. Simple, short, but informational is crowdfunding gold. 

Studies show that you have less than 5 seconds to grab someone’s attention with something in writing. If your first paragraph is not compelling, you have a 75% chance that most people will not read any further. If you do not have a video attached to your crowdfunding campaign, then the odds are even greater that you will lose attention with a poor first paragraph. In some cases, it may come down to your first line.

Your first paragraph needs to tell the who, what, when, where and why, but it also needs to grab attention. Unless you are a celebrity or have some form of notoriety, the “who” is not likely to grab attention. The “what” and “why” are your best bets. Give the reader a reason to keep reading. 

Your initial paragraph is also not a place to give excessive details, or a long, drawn-out back story. Get to the point. Personalize your crowdfunding campaign and show your passion. Most importantly, tell the reader why they should be excited about your crowdfunding campaign, too.

Here is an example of a good initial paragraph:

“My name is Chef Leonardo Donatello and my new pasta sauce is so good my grandmother from Sicily pours it out of a bottle rather than making her sauce from scratch. I am ready to bring Donatello’s Marinara Sauce to the marketplace, so you can taste a sauce at your home that is so good, it will make you think you are in Italy. My goal in the next 60 days is to raise enough money to take what I have been doing in my home kitchen here in Brooklyn, and commercially package the mouth-watering sauce so it can be distributed to grocery stores around the world. I need your help to make my delicious sauce available so everyone, including you, can buy it within the next six months in your hometown.”

You have a great opening line. You get the “who” (Chef Donatello), the “what” (bottled pasta sauce) the “when” (next 60 days to raise money, 6 months to market), the “where” (Brooklyn) and the “why” (to get distribution of his product nationwide). You also get the reader engaged. Who doesn’t like a great spaghetti sauce?

After writing your opening paragraph, it is good to give further details to entice donors to support you. Talk about your background. Explain how the crowdfunding campaign came about. Tell them why you are the perfect person for the job. You have already grabbed their attention, now give them a reason to care about your crowdfunding campaign and to get involved.

After you have finished writing, proofread and spell check. Nobody wants to support a crowdfunding campaign that does not seem likely to succeed, and glaring grammatical errors as well as poor spelling do not promote a lot of confidence.

Finally, once you think it is finished, have a couple of close friends read it. Ask and be prepared for criticism. Listen to suggestions and implement them when it makes sense.

When writing your pitch, remember to cover the basics and keep it short, sweet, and to the point. You can delve into details later in your campaign, but the first paragraph should be concise.

 

Creating your Crowdfunding Campaign: Making a Great Video

The single most important factor of a strong crowdfunding campaign is a great video. You do not need expensive equipment and fancy editing techniques to make a compelling video.  Sure, a professionally shot video edited in Final Cut with After Effects titling is impressive, but a great video can also be a simple, sincere static shot of you looking straight into the eyes of your donor through the lens of the camera, and sincerely, honestly and succinctly explaining why you are excited about your crowdfunding campaign.

No matter what method you use, keep these tips in mind:

1.       Shorter is better. The average person browsing the Internet will not pay close attention to any video more than 5 minutes long.  The best videos are 90 seconds and under.  Use the video to make a few key points, to let donors see who you are and what you look like, and to make a personal appeal for their help.

2.       Remember what journalists do in the first paragraph of every news story:  Who, What, When, Where, and Why.  The video may be the only chance you get to grab someone’s attention, so do not assume potential donors read the rest of your profile. Tell them who you are, what you are raising money for, where will your crowdfunding campaign takes place, when you expect the crowdfunding campaign to be finished, and, most importantly – why should they help you?

3.       Use visual aids.  If you can show donors something, show it in your video.  If you have photos or graphics, learn to use a simple editing program like iMovie or Windows MovieMaker and edit them in over your voice.

4.       Make sure you are in your video. Donors want to see you, not just your crowdfunding campaign.  Do you know why politicians always ask for your vote at the end of every speech? Because it works.  Ask for donors help at the end of your video. Look straight into the camera, be sincere, and tell people why they should help you.

5.       Have good audio.  Nothing is worse than bad audio when watching a video.  If a donor cannot understand or hear you, you have just put up another roadblock to success.  Shoot your video in a quiet place, and consider buying an inexpensive microphone rather than using the one attached to your video camera on web cam.  Good audio is a difference maker.

6.       Check your lighting.  Next to inaudible audio, bad lighting is the second biggest video killer.  You do not need to buy expensive studio lights, but make sure your face is visible.  If you are showing photos or props, make sure they can be seen.  For example, do not sit in from of window with backlighting that makes you look like your identity is being hidden in the witness protection program.  Review your video, and make sure you, and anything you try to show donors, are visible.

7.       Script what you are going to say, but don’t read your entire pitch.  It is important to have a great opening that grabs attention, and to have a great closing that helps seal the deal.  But people who are reading their pitch are not looking into the camera, and eye contact is very important to showing your sincerity.  Try to memorize the important parts of your pitch.

8.       If you are camera-shy, or don’t feel comfortable working with video, consider narrating a slide show.  PowerPoint and Keynote are easy programs to use, and an effective “video” can often be a slide show with a good voice over, and perhaps some music also.

Make sure to put your best efforts into making your campaign video. It allows potential donors to hear and see both you and your invention and gives you the chance to appeal to them. Telling your story in a professional, interesting, and engaging manner will help with your crowdfunding campaign.

All You Need to Know about a Crowdfunding Press Release

A press release is a simple, concise document that is sent to the media in order to give details about your crowdfunding campaign. An effective press release can lead to a newspaper article, a radio or television interview, and traffic to your crowdfunding campaign.

There are many articles online about how to write an effective press release and several online services that will distribute your press release for free. We will not attempt to duplicate all of that information here, but rather will give you some basics to get you started.

Make a local media list. Go to your local newspapers, radio stations, television stations, and local websites and blogs. Most media outlets will tell you on their websites how to submit a press release to them, generally via e-mail. Also, keep track of the contact person at each outlet, and keep a list of their telephone numbers. You will want to follow up by phone with each media contact.

Write your press release. You have already written your crowdfunding campaign, and this will be similar. Follow any of the templates you can find online for a press release, or use this simple template:

Headline: Tell the reader what your crowdfunding campaign is and give them a reason to keep reading. Media folks rarely keep reading if the headline is boring. Grab their attention.

Lead Paragraph: This paragraph is probably already done for you and will be the same as, or very similar to, your first paragraph in your crowdfunding campaign.

Body Copy: Most press releases fill the rest of the page with additional details, quotes, and other important information. A well-written press release looks and reads like a news story. In fact, do not be surprised if a journalist or blogger takes your press release, and publishes it almost verbatim to what you wrote.

The Inverted Pyramid: Many press releases follow the “inverted pyramid approach.” The top of your pyramid is the most important facts and information. You have to grab attention and get the reader to keep going. If they read the headline, they know what the release is about. If they just read the lead paragraph, they should have all the relevant information in simple form. As they go further, they get the details.

Length: The general rule is to keep it to one page. Journalists and bloggers usually are trying to determine if your release presents a story that will be interesting to their readers. They do not have time to read through long-winded press releases. If they want more information, they will interview you.

Quotes: Quoting yourself in your press release gives it a personal voice and makes it seem more like a news story. Even better, if you can get approval to use a quote from someone else, particularly someone who endorses your crowdfunding campaign, add that in as well. A journalist or blogger can then use the quotes without even contacting you, making their job easier.

Contact Info: Always end with your contact information. A telephone number and e-mail address are necessities. If a journalist cannot get in touch with you, you have wasted your time.

Link: Be sure to include a link to your campaign, website, and/or social media! Why do all this work if people can’t find you to give you a donation?

Consider the timing. Your press release should be sent the day your crowdfunding campaign launches. Do not send out a press release earlier, as you will be driving the media to something that does not exist. On day one, when you start your pitch to your network, your press release should also be sent to everyone on your media list.

Follow up on your press releases after three days to see if they were received and to ask if the media contact has any questions. The industry standard is that you can leave three messages with a media contact about your press release. If you do not hear back from them after three messages, it is time to move on.

Use free online distribution. There are several free, online press release distribution services that will send out your press release to a wide variety of journalists and bloggers. Free services have limitations. You have little control over who the press release is sent to, and results will vary. Some people love the free services and praise them, others complain that they get no results.

Consider paid distribution. For a fee, you can have your press release distributed by a professional PR firm, and often get it into the hands of journalists who cover your industry or crowdfunding in general. While the free services will blast your release out to anyone, a paid press release distributor can target certain areas and categories of journalists and bloggers. Also, some journalists will not look at press releases that are sent by free services, so this can be a quality over quantity issue.

Why Education is So Important to Crowdfunding

We’ve said it once and we’ll say it again – before running a crowdfunding campaign, it’s important to become educated on crowdfunding requirements, best practices, and tips & tricks. But WHY exactly is education so essential?

It’s so new (and we haven’t figured it all out yet!)

Crowdfunding as it is today has been around for less than a decade. It’s just starting to become a household topic. This means that although crowdfunding experts claim they know all there is to know about crowdfunding, there is still more we as a society need to figure out about crowdfunding before it is settled in as a commonplace way to start a business or launch a product. We must continuously research and educate ourselves and others in crowdfunding to discover new best practices and trends so that crowdfunding continues to expand.

It involves things you might not normally do.

For most people, many aspects of crowdfunding are not things they normally do (unless required in a job or hobby.) Most of us don’t ask strangers for money very often. You also probably do not record video and audio on a daily basis. Crowdfunding combines many different skills and activities for the purpose of reaching your funding goal. Although all of these pieces fit nicely together, that doesn’t mean you’re comfortable and ready to perform each task involved in the crowdfunding process. Crowdfunding requires you to do things you might not normally do, whether that means asking for money, appearing on camera, writing blogs and updates, designing a website, or creating an extensive business plan. By educating yourself in the various individual aspects of crowdfunding, you learn new skills and prepare yourself for crowdfunding as a whole.

You can adapt case studies to fit your campaign.

Imitation is the highest form of flattery, or so the saying goes. By examining case studies, you can adapt strategies and tactics successful crowdfunders have used and apply them to your own campaign. Educating yourself in this way is key to learning the ropes of crowdfunding. No individual case study or successful campaign can give you the blueprint to making your campaign a win, but by studying many different examples, you will be able to piece together a plan that is right for your endeavors.

Are you ready to get started with your crowdfunding education? Check out our educational video series here and sign up to watch a free video: https://www.fundanideaeducation.com/

Crowdfunding Trends We’d Like to See in 2017

Over the past two decades, crowdfunding has evolved from a personal fundraising platform to a widespread tool for individuals, companies, and non-profits. In 2016, equity crowdfunding came into effect due to the JOBS Act and crowdfunding continued to grow. The World Bank Report estimates that by 2025, crowdfunding will be a $93 billion dollar industry. What can we expect from crowdfunding in 2017? Only time will tell, but here’s some things we’re hoping to see.

Corporate Crowdfunding as Validation

Just a few years ago, it was accepted that big businesses didn’t “need” to crowdfund – they had big budgets and didn’t require funding to create a new product. However, many corporations now see the benefit of crowdfunding; it helps with validation and proof of concept. If a company can get a gadget funded through crowdfunding, it is probably worth it to produce it on a larger scale. If a product doesn’t reach its funding goal, it would probably not be popular on the market, either. Crowdfunding can also be used to build customer loyalty for large businesses; customers who helped to bring a product to life are likely to come back and buy again and again.

Crowdfunding to be Embraced by Mainstream Media

Although you do see the occasional crowdfunding story on CNN or FOX, crowdfunding is mostly mentioned in online media such as Engadget, Huffington Post, and Entrepreneur. Because crowdfunding continues to grow in popularity, it will start to show up more in mainstream media, including online, print, TV, and radio mediums. These stories will likely focus on both the business and human sides of the story. As the mainstream media introduces crowdfunding to the general public, more people will become educated on crowdfunding.

Many More “Smart” Devices

Internet of Things (“IoT” or “Smart” devices) are about to take over our homes. We already have Wi-Fi cameras and door locks and voice activated personal assistants, and this year, we’re going to see many more smart devices. At CES 2017 in Las Vegas, many different companies debuted IoT devices, so it’s clear this trend will continue throughout the year. Be wary though – not every device needs to be connected. Many companies will try to put out gimmicky products, like a smart hairbrush, to take advantage of buyers who are excited for this trend.

Nonprofits to Benefit from Crowdfunding

Crowdfunding is a no-brainer for many nonprofits. It’s really just the newer, better way to fundraise. Crowdfunding allows non-profits to get the funding they need in a cheaper, more accessible way. As crowdfunding becomes more of a well-known concept, more non-profits will create campaigns and more people will donate to their favorite charities through crowdfunding platforms.

2017 is sure to be an exciting year in the world of crowdfunding. What trends are you hoping to see?

6 Things Crowdfunders Can Learn from the World of Business

If you’re looking to launch a crowdfunding campaign, you should know that you are also looking to start a small business. When you raise money, gather customers, and sell a product, you’re creating your own business venture. So, it is necessary to utilize business tactics when planning your crowdfunding campaign. Plan on utilizing these strategies when tackling crowdfunding.

Create a business plan

Writing a business plan is a great way to get organized and solidify choices for your business. This process can be long and very involved and you want to be sure to not cut corners. At minimum, you should be able to describe your business, analyze your market, determine your managerial structure, explain your product line, describe marketing and sales tactics, outline your funding, project finances, and determine your uniqueness. By describing these parts of your business, you will be able to plan for your crowdfunding campaign and beyond.

Network in person

Since you’re crowdfunding, you’ve definitely heard of the benefits of networking online through social media. But, it is also important to borrow from businesspeople and also network in person. When you’re running a crowdfunding campaign, every location and event can be a unique opportunity to network and grow your business. Whether you’re shopping at the grocery store, working out at the gym, or actually attending an event meant for networking, there’s no wrong time to strike up a conversation about your endeavors. Talking to someone in person leaves more of an impression than emailing or social media because they get to see your face and hear your voice, solidifying you and your stories in their memory.

Design business cards

Going along with the previous tip, make sure that you have physical business cards on you at all times. A lot can be said about QR codes or URLs, but it is also important to hand someone a business card and give them something to walk away with. Businesspeople meet many new contacts every day and you may end up forgotten if you don’t provide your new acquaintance with your business card. Keep it clean with simple colors and designs and make sure you have your name, logo, business, title, URL, and social media profiles clearly visible.

Send a press release

Press releases serve as an announcement to the media that you are doing something you want them to know about. Press releases are typically emailed to a contact at a newspaper who edits or writes about the type of story you are telling. They give the who, what, when, where, why, and how of the story, product or event. It’s always a good idea to include a quote so a journalist can autonomously cover the story. When emailing a press release, send it to one person at a time, personalizing each message and explaining why the reporter’s audience would be interested in the story. Press releases can help you get your crowdfunding campaign and business noticed.

Capture leads

The world of business is all about leads, or prospected consumer of a product, created when an individual shows interest and provides contact information. Nearly every strategy and tactic is analyzed based on how it has impacted leads. Capture leads for your email list by creating a landing page. Consider creating ads on social media to drive traffic to your landing page to increase leads. You should also add a form to your regular website to collect email addresses.

Be relevant

Your marketing strategy should always be relevant to the world around you. Base your content and social media strategies off of timely events such as holidays, current events, and social media trends. Being relevant helps your target audience relate to you and your brand. Developing relevant content also helps to leverage emotional connection surrounding these events and trends to get people excited about your business and engage them in discussions.

Your crowdfunding campaign may lead to you being a small business owner, so throughout the whole process you should treat it as such. Utilize business tactics to create a professional and well-rounded crowdfunding campaign.

Lessons Learned from Failed Crowdfunding Campaigns

In order to do great things, you must look toward those who came before you. Unfortunately, there were those who created crowdfunding campaigns before you that did not find success. Don’t be afraid to research those failed campaigns, as well as the successful ones. You can gain a glimpse at how you could potentially avoid such failure.

There is no guarantee that you won’t fail if you do not take the time and preparation necessary to make a good crowdfunding campaign. Even with the most amazing new invention, you could fail if you are not dedicated enough to your campaign. Don’t risk failure, and pay attention to the mistakes of those who came before you.

 Not taking your pre-campaign seriously

Many inventors seeking funds tend to be under the impression that the majority of the work needed for a crowdfunding campaign, should be done during the launch of the campaign. This is not true, in fact, most of the work done should be completed prior to the campaign start date, but where does one begin? Those who do not seek the answer to this question end up failing to find funds through crowdfunding.

At least 6 months prior to your attempt at seeking small donations from a large audience, you will want to focus on the planning of various aspects of your campaign. This includes developing a video, establishing a social media presence, creating rewards, and getting your invention ready to prove to backers that your idea is worthy of their money. Do research online and even watch videos that will map out the best ways to work on your crowdfunding campaign.

 Developing a low-quality video

The very first thing a potential backer sees when viewing your campaign site, is your video. A low-quality video, or even no video at all, turns people away from your campaign immediately. Think of your video as your best chance at an attention grabber. All of your efforts to draw individuals into your campaign could become pointless if once they make it to your site, there is nothing to keep them there.

Fortunately, a good campaign video could help your chances at holding the interest of those who have already made it to your page. Your video should be informative, but maintain elements such as quality images and sound, in order to keep backers watching your video for more than 10 seconds. An invention with a great campaign video is the Coolest Cooler, which was able to receive funds of $13,285,226. Their video briefly told the story of how the product came alive, explained what the cooler had to offer, and why it was worth a backer’s money to give donations.

 Failing to utilize social media

For any business or new product, establishing a presence on social media could be beneficial. The same rings true for your crowdfunding campaign. Those who do not make an effort to utilize the power of social media, might not reach their desired funds if things such as Facebook or Twitter are not used properly. This does not mean that simply creating a page for your campaign will lead to success, but it is a good place to begin.

Start by creating a presence on a social media platform such as Facebook. You can ask family and friends to like your page as well as share your page’s content. Facebook also lets you pay money to “boost” your posts to those who have similar interests to what your invention has to offer. Once your campaign has begun, these posts can even lead those interested directly to your campaign site. Create a calendar to plan out when you will be posting things such as pre-campaign updates and other materials designed to grab the attention of potential backers. This includes, but is not limited to, blog posts and general product promotions.

 Neglecting your campaign

Once you have put all of your effort into your pre-campaign, you must not give up when it comes time for your campaign to launch. You can’t expect to raise funds if you do not do more than simply keeping an eye on your campaign every so often. It may seem tiring and time consuming to continue posting to social media and monitoring your campaign, but no one ever said crowdfunding was easy, but they did say it was worth it.

During your campaign, be sure to keep track of how well it is performing. If it seems to be falling behind, try posting content such as your campaign video to social media or asking friends and family to help spread the word. Don’t give up just because you did not gain the funds you wanted within the first 24 hours. Instead, decide what more you could be doing to interest your backers.

Crowdfunding can be difficult, and even stressful at times. Luckily, with research and education, you can learn how to create a platform that could become successful with hard work and dedication before, during, and after your campaign.

How to Incorporate the Holidays into Your Crowdfunding Campaign

As an inventor with a live crowdfunding campaign, you will want to take full-advantage of the holiday season. The holidays are a time for giving, and to have a successful campaign, you need backers who are willing to give donations. They could even be willing to give a larger donation than usual around this time of year. You will want to be sure to follow these tips in order to use the holidays as an opportunity to raise funds for your invention.

Offer Rewards with a Holiday Twist

One of the best things to take advantage of is your rewards. Everyone is in search of gift ideas for friends and family around this time of year. Design a few rewards that will entice potential backers to give funds.

Consider setting a reward that includes a packaged deal of your products for your donors to give to members on their list this holiday season. This is a way for you to receive a better donation, and for more individuals to find out about your invention. It is also a way for donors to be able to give a unique gift, while helping an inventor become funded.

Post Holiday-Themed Images and Videos to Facebook

Everyone loves a little holiday spirit. Designing images or videos that incorporate the holidays could get the attention of your followers on social media. Even finding funny holiday videos or images, as well as creating your own, could be a great attention grabber for your campaign.

Another benefit to designing holiday-themed posts is the fact that it is great content for your page. You may be out of ideas to post to social media before or during your campaign. Holiday posts could be the best way to fill your social media with quality content that anyone could enjoy.

Ask for Donations in Place of a Gift

There is a good chance that there are a few loved ones who are just not sure what to buy for you this year. Luckily, if you have a crowdfunding campaign for your invention, you can ask those around you to give the gift of a donation this holiday season.

Don’t be afraid to tell those who love you what you truly want this year! You should be proud of your crowdfunding campaign, and be comfortable asking for donations. It is also an easy gift to give, so you would not be putting anyone on a crazy present hunt. Simply give them the instructions on how to donate to your invention’s campaign, and enjoy the gift of donations.

Taking full advantage of the crowdfunding opportunities this holiday season could be the key to raising funds for your crowdfunding campaign. Don’t be nervous to tell your friends and family about your campaign. Instead, make it known to your loved ones as well as your social media followers that you would love their donations this year.

How to Give the Gift of Crowdfunding this Holiday Season

With the holidays quickly approaching, you have more than likely begun the process of creating a list of gift ideas for friends and family. One way you may have not considered giving this year, is through crowdfunding. There are a few different ways you can use crowdfunding to give for even the most hard to shop for members on your list this holiday season. 

Donate in Someone’s Name

There are always a few individuals on your hard to shop for list. Whether it’s someone in the office or a friend whose name you pulled in the Secret Santa grab bag, you can give the gift of donating to a crowdfunding campaign in their name.

There are many different inventions out there attempting to reach their crowdfunding campaign goal. Choose an invention that the person you are giving to would love to see become fully funded. If the person enjoys sports, try to find a product that would appeal to the sport they most enjoy. On the other hand, if they enjoy inventions that benefit a greater cause, give a donation to something like Robin Hood, which focuses on funding programs for schools in New York’s poorest neighborhoods. By donating in someone else’s name, you can make someone’s day and also benefit a charity. 

Help an Inventor Fill their Stocking with Funding

If you are looking to pay it forward this holiday season, consider donating to a crowdfunding campaign. Whether you give a large donation or a small one, you can help an inventor fulfill their goals this holiday season. Every inventor who has set up a campaign for their product is hoping to find success and become fully funded.

Even if the inventor is a stranger, who does not necessarily have a product that appeals to you, you can still give and help the life of an inventor. Small donations from a large group of people add up quickly, and you can help an inventor become fully funded. Most campaigns have a reward set for giving a donation of as low as one dollar. If you are looking to make a small act of kindness this holiday season, consider helping an inventor by donating to his or her campaign.

Gift an Invention from a Live Campaign

A gift that can easily wow someone on your list, is one from a crowdfunding campaign. Many inventions with live campaigns are not yet widely known to the public. If you want to give a gift that will surprise your friends and family, an invention from a live crowdfunding campaign could be your best option.

When giving a gift from a live campaign, the product may not be available until the campaign has been fully funded. You have the option to donate a certain amount of money, and receive the product at the end of the campaign. Inventors offer their product as a reward as an incentive to get potential backers to donate. You may be able to receive the product in time to gift one, or you could give them the donation in their name. Either way, let them know they will receive their new and unheard of product once it has been successfully crowdfunded.

If you are struggling to find the perfect gift, consider gifting through crowdfunding for just about anyone on your list. There are countless products and ideas on a multitude of crowdfunding sites. You could find one just right for the person you are giving to this holiday season.

How to Set Your Crowdfunding Campaign Apart from the Rest

To someone who has never designed their own website, creating a crowdfunding campaign’s page can be difficult. Luckily, many sites give you guidelines to help you create your invention’s page. Your best chance at becoming funded begins when you fill your campaign page with enticing items that could be key to your success. Simply filling in basic information can be boring to potential donors. You want to prove to your backers that your invention is worth their money and time, and you can do so by making your page unique and pleasing to the eye.

Create a Compelling Video

One of the most important aspects of your crowdfunding campaign is your video. Your video is the first thing potential donors will view when going to your site. Creating a video that is high quality and that informs the public about your invention can be crucial to raising funds. Spend time before your campaign launches developing a compelling video. Some of the most funded crowdfunding campaigns featured a high-quality video, such as the the Flow Hive. When watching the video for this honey product, the viewer gains a sense of legitimacy through the video’s storytelling and product demonstration, which led the product to gain more than 38,000 backers.

Shoot a video that not only describes your invention, but also tells viewers about your campaign and why they should help you become funded. It is important to keep the video interesting and to the point. You do not want potential donors getting bored halfway through your video and clicking away from your invention’s page before learning important information that could make them decide to give you a donation.

 Develop Enticing Rewards

Deciding on different types of rewards for certain amounts of donations can be tricky. You want to make sure that the reward goes along well with the set donation, while also being sure to make the reward enticing enough for potential backers to want to give you their money.

Luckily, you can easily develop enticing rewards that go along well with your invention type. For example, the rewards offered for The World’s Best Travel Jacket were ones that enticed those who were already fans of the jacket to give donations. They offered a multitude of rewards for each style jacket that would allow donors to get the jacket for a much cheaper price before anyone else.  Fans of the jacket were quick to get this reward, and the campaign was able to gain almost 45,000 backers. 

Add Quality Images

An important aspect to developing a campaign that set itself apart from the rest is having high-quality images on your page. Of course, you may not be able to take professional images on your own, but if you are serious about your invention, you may want to consider hiring a photographer. By hiring someone to take images, you could make your invention look professional and legitimate. If potential backers come to your site, they could be more likely to give you funds if the images of your product are pleasing to the eye.

The crowdfunding campaign for the card game Exploding Kittens gave viewers of its page quality images of the product. Different images were displayed to show what the card game included as well as what the various cards in the game featured. This card game was able to gain nearly 220,000 backers and raise over $8.5 million.

The truth is there are millions of different crowdfunding campaigns across various crowdfunding platforms attempting to raise funds at the same time as your own. This does not mean that reaching your goal is not possible. If you are truly serious about receiving donations from potential backers, then take the time to develop a compelling video, enticing rewards, as well as quality images for your crowdfunding campaign.

Is Your Invention Right for Crowdfunding?

You may be wondering whether or not your invention will find success through crowdfunding. Many different types of inventors and entrepreneurs have become funded through crowdfunding campaigns. Just because your invention may fit into a different category than other popular inventions that have been funded, does not mean your product can’t also raise money. Consider these few things to decide if your invention has what it takes to start a crowdfunding campaign. 

A growing public interest

Of course, not everyone will automatically know of your product immediately. A growing public interest could increase your chances of raising funds. If you have already begun the process of informing the public on your invention, and have a good number of followers, you should consider crowdfunding. This process can happen slowly, but it is important to grow the public’s interest in you and your invention prior to creating a campaign.

You can do this by having members of your family and close friends spread the word about your product. Give them their own prototype if one is available. If you are not yet at the stage of having a prototype, make sure they are informed on all of the details your invention will have to offer if it becomes fully funded. If they like your idea they will be sure to share the information with people who are close to them. 

Wide audience appeal

Many products that do well with crowdfunding appeal to a wide range of consumers. Pebble Time was a smart watch that was able to raise over $20 million through crowdfunding on Kickstarter. Many different types of consumers were interested in this type of technology, and were willing to give donations to make this smart watch a reality.

Even if you believe your product only fits a niche market, try to market your invention to appeal to a broader audience. Show the public why they would benefit from donating to your campaign, even if your product is not one that he or she is incredibly interested in. Give them other incentives such as being listed as a donor on your company’s website, or the ability to donate your product to someone in need.

Large social media following

An easy way to gain followers and interested donors is through social media. Many of the most successful crowdfunding campaigns gained a large social media following prior to launching their campaign. Many of their donations were received by individuals who followed them on different social media platforms, and were directed straight to the campaign page through links made in posts on various pages.

Before you can venture into creating your own crowdfunding campaign, you should develop a strong presence on social media sites such as Twitter, Facebook, and Instagram. Gain followers by sharing your invention’s posts to your own personal pages. You can even boost your posts with a set amount of money on sites such as Facebook.

You can’t let the fear of failing in your crowdfunding campaign keep you from trying to raise funds. All of the work and time you have put into your invention should also be put into your crowdfunding campaign. If you were able to obtain a growing public interest, a wide audience appeal, and a large social media following, then you could be ready to begin the development of your campaign. The obstacles in your way of receiving donations can be overcome, and you can be on your way to a positive crowdfunding experience.