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.