A Quick Guide to Crowdfunding

For any idea to be grounded and become a reality what is required is a lot of zeal, patience and resources. Before the concept of crowdfunding became popular, entrepreneurs had to face a long haul to raise finances which was always not easy. Savings had to be dipped into or applications had to be made for a small business loan. Raising funds from venture capitalists was a long drawn process. Crowdfunding has changed all that. Funds can be put together quickly and most importantly there is backing of a large dedicated community that believes and supports the project and goes all out to ensure that it is successful.

Crowdfunding is a quick route to launching an idea or concept. Traditional marketing methods are time consuming and expensive. With this method of raising funds, feedback and getting valuable insights is hastened, more so if an idea fires up the imagination of the investors. Fans around the world will offer solutions and guidance, helping to start the project off from a rock solid foundation, thereby assuring its success. A well planned out marketing campaign of course is necessary to spread the message of the concept.

How can you ensure that your project will have a smooth takeoff? The first step is to come up with a plan after a thorough background research has been done on the methods that will make fund raising a success. In today’s business environment going digital for publicity is of course ideal the ideal scenario. A well designed digital marketing campaign with an attractive website should be the first stepping stone to crowdfunding. Have plenty of graphics to highlight your concept and how it can make a difference to people’s lives. Since it is so crucial, hire the best in business to strategise a campaign. For instance, if you are in Australia, get in touch with Jarrod Carland, one of the leading graphics designers in the country and owner of Studio Jack. You should also tap into the various social media platforms like Facebook and Twitter to spread awareness of your project and make it go viral over the Internet.

Setting a goal in crowdfunding can be the hardest part of the campaign. It is necessary to evaluate and analyse various approaches that will help you quickly meet preset goals and objectives. One of the most reliable strategies that crowdfunding managers have successfully implemented is breaking up the campaign into stages. Have smaller goals and campaigns in the overall plan, reach each one in stages and you will soon realise that you have achieved the purpose.

An important aspect of crowdfunding is the manner in which you reach out to the masses and raise interest in your concept. Easily the fastest and most effective is emails Studies have shown that on an average, the conversion rate from email is about 35%. This is primarily because email is a personalised approach where you can put the basics of your campaign in great detail. You can also measure the success rate of your public relation efforts as it is possible to quantify the number of people approached and the responses received. You can also get in touch with people who matter by searching for matching profiles on LinkedIn.

Once your campaign has been launched, do not think that you can rest on your oars and watch the funds flowing in. Initially you had just a concept, a small idea to start off with. Now you have feedback, fans to back you and a highly optimised digital presence for your campaign. The key now is to maintain the momentum by engaging with the existing audience and exploring ways to identify and get new backers on board – all steps that will add to your crowdfunding efforts.

Finally, consistently add new perks to your concept to sustain the attention of your backers to enhance the value of your original idea.

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