Anyone have any success with Crowdfunding?

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New Member
49 0 0

If so, how did it go & which site did you use?

Thank you!

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New Member
1 0 1

Hi Elizabeth,

We had a very successful Indiegogo campaign. Here are some of the things I learned:

1. Prior to launching your campaign, establish a list of people (friends and family) that you know would be able to donate. Reach out to them and let them know what you are doing. In addition to that, identify people that are willing to share your campaign via social media, email, etc. Excitement and buzz must be created beforehand. 

Statistically, you want 30% of your goal to come from this group of people. And ideally you want it to come within 24hrs of launch...or if possible, before your formal launch. The reason for this is because "stranger money" - money from people you do not know personally - starts to roll in around the 30% funded mark. Its a psychological response. Furthermore, according to Indiegogo data, campaigns that reach 48% funding have well over a 95% chance of being fully funded. 

Make a video for your campaign. People have a short attention span so you need to capture their interest. Tell your story in the video. Do not expect people to read the text component of your campaign. Some topics you might want to verbally address in the video:

1. Why are you starting this busies/looking for funding?
2. How did you learn about skincare? Tell me about your brand.
3. How will the funds be utilized?
4. What's in it for me/them?

Perks: Most people claim $25 - $100 dollar perks. Having between 5-10 perks is a good range. You do not want to overwhelm people with excessive options.

Don't have too many lower value perks. We started with a simple donation and went up from there. You'll be surprise how many people just want to contribute and don't want anything in return. 

As for the actual length of the campaign, 50 days is the sweet spot. That being said, all campaigns hit a mid-campaign slump so you need to have an engagement plan ready to reinvigorate the initiative.

 

I hope this helps!

 

Nick

www.stubbleandstache.com

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Tourist
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Hello there!

 In my own experience I cant stress enough of the importance/footprint that the public can grant you in terms of finances towards making your dream come true for yourself and for whom would be endorsing your dream to share it with you.

 As an example independent game companies consisting of anywheres from 1 to 12 people mostly with a great kickstarter can make an environment steadily to offer towards a highly growing cliental in this case a gaming environment. Everybody loves great ideas but it takes courage to have the ambition to do that. More importantly when people see gold in your product that you are building they will pledge quite easily to help it and yourself grow.

another incredible example is a magic pen that came out a couple years ago that had an approximate 400 % goal for public funding. This magic pen made melted plastic into 3 dimensional structures or even art that dried in seconds. A huge must for any art fan or engineer that needs to see it all before he gets started.

 kickstarter's would be seen as ridiculous years ago but the amount of growth in entrepreneurs over the last decade alone has shown competitive ambition, frequent updating or changes to product line to accommodate for new desires from your cliental. Your kickstarter proposition should be as bold as it is strong to take criticism if applicable which can always be used to make it stronger.

 

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New Member
7 0 0

Thank you for these tips Don and Nicholas. 

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New Member
2 0 0

From what I've seen, the successful crowdfunded campaigns rely on classic long form sales letter formats to really sell the product. They are like an infomercial on a page and they are very customer focused. It's about the product and what you get out of it, not just the people behind it. Having a good story to tell is important, and how you tell that story is important, but the product needs to be good enough that people are willing to put their money down without being able to touch or test the product or even get the product for months. 

If you are doing a crowdfunded project, make sure you do the effort up front to get a lot of the basic things really right. Look at the most successful campaigns and copy a lot of the important elements like format, the way they sell their product, etc. 

You don't need to have the most high end production value to sell what you are doing, but I think that you need to get the structure of the page and presentation right. 

Look through these pages for good examples:

https://www.kickstarter.com/discover/popular?ref=popular
https://www.kickstarter.com/discover/advanced?sort=most_funded

Hope that helps!

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New Member
3 0 0

I haven't really but there are some good tutorials on it though. Problem is I'm not really onto innovative idea's or revolutionairy things (or i just think my idea's suck in general). :p

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Excursionist
120 0 10

It's all about the innovation though, unless you run a campaign to raise money for an interesting movie or something. You need to start with a reason for raising the money, then think of some  perks. But some people are happy to just donate if it's a good or imaginitive cause, so even the perks need not be anything special. Which really means that these type of campaigns need a reason to be .'Send money now' doesn't really cut it.  

There are all sorts of campaigns out there and people don't really make a habit of browsing charities. So you need to hook the people via other channels such as FB or Twitter. Also people are getting a bit adblind re: Crowdfunding so, you need to stand out. 

Why do you need to raise money?

What is the great idea?

Have you got a heartstring tugginhg story? i.e.someone needing an operation or something?

Do you have an amazing idea for a movie? These type of campaigns can raise tons of money.

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Tourist
43 0 1

I see Kickstarter is mainly US based is this correct? I ma looking for money in the UK?

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