7 key lessons and insider tips on crowdfunding

The Power of Storytelling And Other Insider Tips On Crowdfunding

crowdfunding campaigns, crowdfunding tips

5. Have everything ready before launch

The real work begins when the campaign goes live. Have everything ready so you’re available for opportunities that require you to respond immediately.

Here is a quick checklist:

Press release written for various media outlets
Profile shots
Your pitch – short and long version
Social media campaign calendar
Campaign updates
Marketing materials
Media contact list
Your list of potential supporters in a database
Email campaigns and follow-up
Thankyou emails

I recommend at least three months of planning before you go live.

Seriously! I gave myself eight weeks and clearly, it wasn’t enough. Especially when the crowdfunding campaign launched on my wedding day! More on that coming soon.

6. Create momentum early

It’s important to demonstrate that your campaign has legs preferably in the first few days. Make sure your inner circle (family, friends, strategic partners) is primed before the official launch. Your campaign needs to look credible to strangers and show a solid base of funding.

It is also important to note that you should be able to raise one-third of your funding goal from your close networks, the next third from their networks, and finally from the platform itself and your marketing efforts amplified. I used my wedding as a platform to launch my crowdfunding campaign and asked guests to contribute in lieu of gifts.

The key to creating momentum is to set milestones – align your activities around those. This is one of the things I didn’t do well. I built some early momentum which wasn’t sustained midway (see chart below). The pressure was then on me to drive contributions in the final week of the campaign. It’s not something you want to do. In my case, the final week led up to Christmas and the campaign was due to end on Christmas Day!

7. Be prepared for surprises (and disappointments)

The biggest surprise was that the people who supported the campaign were not who I expected. Many were strangers who were moved by my story and who believed in me, what I was doing and why. Folks in my inner circle who I thought would back the campaign did not. And while my immediate reaction was immense feelings of disappointment and confusion, it was a reality I came to accept quickly.

I realised that when people say or do certain things, often it has nothing to do with you. Rather, it is a reflection of who they are, what they value, the things they believe in and their attitudes towards life. Don’t take things personally. You need absolute focus, emotional strength and mental power to get through your crowdfunding campaign and smash your targets. Direct your energy on the things that will move you closer to your goal. More importantly, stay positive, persistent, resilient, and relentless.

Other helpful tips

Indiegogo shared these interesting insights that could help in your next crowdfunding project:

Campaigns with a video raise 114% more on average than those without a video
Campaigns that send at least 3 updates raise on average 239% more than other campaigns. Updates get automatically emailed to contributors.
If customers pay with Paypal and you’re running a flexible funding campaign on Indiegogo, you get the money immediately.
Ideal campaign is between 35 to 40 days
Celebrate milestones with customers in your updates
Launch on a Monday or Tuesday (after soft launching to your inner circle over the weekend)
Encourage shares and referrals
Campaigns with a team raise 339% more than solo campaign runners.
$25 is the most popular perk price
Fridays between 8-10am is the most popular time for Australians to contribute to an Indiegogo campaign

Special thanks to our generous backers and supporters:

Champions

G’Day Chef // Jason Galetti

Led by Jason Galletti, G’Day Chef is one of Melbourne’s sought after catering company. From weddings, to private and corporate functions, the planning is top-notch, the service impeccable, the food divine.

2nd Avenue Events // Jess Jones

Led by Jess Jones and based on the Mornington Peninsula, 2nd Avenue Events is a creative and passionate team of wedding and event planners and stylists, dedicated to providing you with a special and personal touch to ensure your event is everything you’ve dreamed of.

Media Manoeuvres // Sam Elam

Media Manoeuvres is Australia’s largest media training and reputation management company with an impressive team of communications professionals. They work with some of Australia’s top business leaders, elite athletes, politicians and personalities.

Aromababy // Catherine Cervasio

Aromababy was created by Melbourne’s Catherine Cervasio in 1994. A complete concept and the first of its kind, the business is centred around the pure and gentle AROMABABY® skincare products.

Optimising // James Richardson

Optimising is a Melbourne based Digital Marketing & Development agency, assisting clients all over Australia implement innovative online marketing strategies & campaigns.

Tegan DeClark

Tegan DeClark is a Toowoomba-based real estate dynamo with an insatiable appetite for life. “I believe in designing your own life by the choices you make. Where others just wait, I would rather take a leap of faith into the unknown and see what happens.”

Jaine Edge Human Resources // Jaine Edge

Jaine Edge is an experienced HR consultant that offers practical, cost-effective solutions to help you manage and develop your people and deliver your business with a profitable return on investment.

Jane McKay Communications // Jane McKay

Based in East Gippsland, Jane McKay provides professional marketing and graphic design services and prides herself in providing innovative and impactful solutions for small business.

Oz Fair Trade // Qinnie Wang

Founded by social entrepreneur Qinnie Wang, Oz Fair Trade is a registered charity that aims to fight poverty through fair trade.

Vent2Me // Julia Taine

Vent2Me is little bit different. They like to stand out from the rest and shake things up. They’re into marketing, customer service and being in small business, and absolutely love educating others about the digital landscape, guiding clients through all the twists and turns.

Ginibee // Gin Pineau

Gin is a talented freelance videographer, photographer and graphic designer. Originally from France, she takes her creative business around the world in her endless pursuit of summer.

Supporters

Access Consciousness // Simone Milasas

Agility Property // Kristy Smith

Apples For Jam Marketing // Kate Sliwa

Ballettonet // Stephanie Waters

Brainy Child // Sue Davey

Career Oracle // Kate Middleton

Caroline Kennedy

Confetti Design // Johannah Barton

Fifty Acres // Jo Scard

Early Links // Jacky Peile

Healthy Business Finances // Stacey Price