I wanted to drop a quick note to you all that I have written a new Forbes article called Six Hallmarks of Successful Crowdfunding Campaigns.
From the piece:
While the newness of crowdfunding may have worn off, this popular way to raise funds has continued to spark interest, especially to entrepreneurs and startups. For some, it is a panacea; a way to raise funds quickly and easily, with an extra dose of marketing and awareness thrown in. Sadly, the reality of what is needed to make a crowdfunding campaign a success is often missing in all the excitement.
I have some experience with crowdfunding in a few different campaigns. Back in 2013 I helped shape one of the largest crowdfunding campaigns at the time, the Ubuntu Edge, which had a $32million goal and ended up raising $12,814,216. While it didn’t hit the mark, the campaign set records for the funds raised. My second campaign was for the Global Learning XPRIZE, which had a $500,000 goal and we raised $942,223. Finally, I helped advise ZBiotics with their $25,000 campaign, and they raised $52,732.
Today I want to share some lessons learned along the way with each of these campaigns. Here are six considerations you should weave into your crowdfunding strategy…
In it I cover these six key principles:
- Your campaign is a cycle: plan it out
- Your pitch needs to be short, sharp, and clear on the value
- Focus on perks people want (and try to limit shipping)
- Testimonials and validation builds confidence
- Content is king (and marketing is queen)
- Incentivize your audience to help
You can read the piece by clicking here.
You may also want to see some of my other articles that relate to the different elements of doing crowdfunding well:
- Social Media: 10 Ways To Not Screw It Up
- Don’t Use Bots to Engage With People on Social Media
- Video: ‘Smart Incentives’ Keynote Available
- The Risks of Unsolicited and Automated Engagement
- Video: Effective Project Management (Without Sucking)
Good luck with your crowdfunding initiatives and let me know how you get on!