Six Steps to Crafting a Successful Crowdfunding Campaign
With all of the great success stories out there about crowdfunding, you may be wondering if it’s time for you to give it a shot. Crowdfunding can be a great funding resource, but only if you take the time to craft a compelling campaign. Here are the steps you should take to ensure your project is successfully funded.
1. Choose A Platform
Keep in mind that some websites take a percentage of all donations. Some websites will also return all donations if funding goals aren’t met. Read the fine print and shop around a bit before choosing a site.
2. Craft a Compelling Campaign
Remember that your campaign will be competing with hundreds of others. Take the time to write a compelling project description to draw donors in. Choose eye-catching photos to represent your project.
3. Create a Timeline
Crowdfunding campaigns typically only last a few months. Create an action plan ahead of time for how you’ll promote your campaign and reach your funding goal.
4. Calculate Your Budget
Before launching your crowdfunding campaign, you should have an itemized budget. Transparency is an important factor in making donors feel comfortable and good about giving money. Make a list of every item and expense that will go into your project. Then do some real research on exactly how much each expense will cost. Keep in mind that crowdfunding works best for smaller requests. If your budget starts to add up, consider breaking up your project into multiple campaigns.
5. Think Up Perks
Every donor should be thanked for his or her contribution with at least a thank you note. Sending photos, videos, or handwritten notes from students can also be a nice touch. Larger givers can also be given rewards and incentives.
6. Spread the Word
Reach out to parents, colleagues, and community members through social media or email. Post frequent updates on the campaign’s progress. Once the project is funded, post pictures or videos. Stay in touch with donors. You never know when their generosity might be needed again.
Crowdfunding may seem effortless, but a lot of work goes into crafting a well-thought campaign. For more information about crowdfunding, read our last blog post: Crowdfunding Versus Grant Writing: What’s the Difference?