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.