Start growing your supporters well in advance of campaign launch.
Crowdfunding is not just about getting funded; it’s about building an engaged customer and fan base so invest quality time in building this network.
2. SET REALISTIC FUNDING GOAL
Set your goal at the minimum amount with which you can execute and outline extra product features as “stretch goals.” Often setting a lower goal raises more money than a higher one as backers exceed the target.
3. SET SHORT CAMPAIGN TIME FRAME
It may seem counter-intuitive to limit your fundraising time to 30 days instead of 60, but it’s harder to build urgency with longer campaigns, and you will risk backer burn-out.
4. AVOID BURDENSOME REWARDS
Devise rewards that aren’t too costly or time consuming to fulfill. Instead, invite backers to join in on something you are already doing so fulfilling those rewards don’t take you away from running your business.
5. GET MOMENTUM
Offer a discounted “early adopter” pledge level for those who back you first. This motivates your followers and friends to quickly contribute. Strangers will back you, but not until you have first supported them in your own network.
6. USE OF FUNDS
Be as specific as possible regarding what the raised funds will be used for. Backers prefer something tangible – like funding a needed piece of equipment – rather than “Seeking $10,000.00 for my business overhead.”
7. CREATE MINI-DEADLINES
Make bit-size goals to overcome the typical mid-campaign lull. “Help me reach $1,000.00 by Sunday” may motivate more than “I still have $12,000.00 to go, please help.”
8. PROMOTE OTHER CAMPAIGNS
Not only is it good karma but when you support other crowdfunders, those grateful project owners will likely return the favor by backing and promoting you when you need help.
9. DON’T FORGET OFFLINE OUTREACH
The virtual world is not the only place people gather! Create campaign excitement in person too by attending real-world gatherings such as Meet-ups and industry events
10. PLAN FOR SUCCESS
Know how you will quickly scale if your campaign takes off – where will you manufacture, store, and ship your products? How will you manage communication with hundreds or maybe even thousands of eager backers?