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12 Tips to Crowdfunding Success!

18th Aug 2010 12:51pm


 

 

Crowdfunding – a new era in raising funds

 

This evolution in fund raising is taking the financial risk out of running that creative project or idea that you've been battling with.

Here are 12 crowdfunding tips from Pozible, the crowdfunding platform for the creative industry.

 

1. Plan your project and set yourself a goal

 

It is very important to set yourself a funding target. This target should be realistic and achievable. Typically you have a time limit to raise the funding target, so we recommend you set your goal to the minimum you need to get your project started. There is usually no upper limit to how much you can raise using the “all-or-nothing” crowdfunding model.

 

2. You're inviting people to be a part something

 

You should never feel awkward, afraid or shy to ask someone to support your creative project or idea. You are not a charity and you are not begging for money. You are inviting people to be part of something great. A life experience they should appreciate.

 

3. Collaboration

 

Look around you. Is there someone who might be able to help with your crowdfunding effort? We're not talking about financial support. Is there someone or some organisation with the creative skills or expertise to compliment you and your project, giving your project the best chance of success?

 

4. Influencers

 

People tend to follow a trend. So imagine how valuable it would be to have a celebrity, respected industry leader or publisher endorse your project. You should exploit any exposure and endorsement you receive for your project because this builds credibility. This is a key focus.

 

5. Learn from others

 

Do some research before you start your crowdfunding effort. Crowdfunding has become a point of discussion online. There are loads of articles and advice from people who have been successful and more importantly, from people who have been unsuccessful.

 

6. Be Sociable

 

Make the most of every opportunity to tell people about your project. This might take you out of your comfort zone, but you will never know who you might meet. Put yourself out there and meet new people. Learn about upcoming events, festivals and local community activities  – find as many ways to talk about your project and idea.

 

7. Share and connect online

 

Crowdfunding platforms have been developed to integrate with your online social networks ie. Facebook, Twitter, Myspace, etc. Be active on your personal page and constantly remind people about your project. Give people updates about your project and always encourage friends to share your project. Try not to sound needy.

 

8. Another day, another dollar

 

No one said raising funds for your project was easy and it takes passion and commitment to be successful. Don't expect your project to reach its funding goal the very moment you tell the world. You need to build momentum for your project and this takes dedication. Keeping in constant contact with your audience demonstrates your determination. People appreciate this and typically more people will support your effort.

 

9. Say thank you

 

This might seem obvious, but never forget to show your appreciation. A personal message of thanks and recognition can go a long long way.

 

10. Without an audience, you’ve got very little.

 

Without an audience you've next to nothing, so take an interest in them and get to know them. It's worth your while. Simply, ask your supporters and followers what they would find most valuable in helping fund your project. This might simply be a signed album or postcard.

 

11. Reward your supporters

 

Be creative with the tangible and intangible perks your supporters receive in return for funds. These are incentives for people to support your project and can be tailored for different groups of people. eg. A $5 postcard reward for a friend or a $30 signed copy of the album reward for a passionate fan.

 

12. A story to tell

 

So, what makes you're project different from the next one? Explain to your audience what makes your project unique and share where the idea for your project came from. Everyone has a story to tell and believe it or not, people want to learn about your stories. People need to connect with you and this is one of the most important ways to do this.



For more information on how to set up your crowdfunding campaign, check out our Pozible Handbook!

Comments

Tim Fitzsimmons 06 February 2013

Great idea.


angela perry 28 December 2012

Not long to go for me now


Scott Seymour 11 December 2012

It all starts with a passion for something. A dream. But that dream can come true....with "Pozible" and You..........


Flamenco Australia Tamayo 06 December 2012

Thank you so much for this opportunity. My Festival is ready to go thanks to this crowd funding!!!... Flamenco Australia


Lynne Gray 24 October 2012

What a wonderful idea


Charmaine Bingwa 22 August 2012

Thanks for making it a pozibility for people to achieve their dreams


daniel portegys 11 August 2012

I hope we can all get together and make our dreams happen


David van Dijk 07 August 2012

Great tips, and if followed can really help you on the way to getting your project funded! Fingers crossed it works for me ;)


Stephen Ormsby 01 August 2012

So happy to see an Australian site that lets you crowdfund. Great work, Pozible angels.


Anthony Hayes 01 August 2012

bloody ripper. I'm now up and running. Go team! Plus I just supported one which had now reached its goal. Pretty awesome getting an email saying that my donation helped someone achieve their dream. Great site.


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