Crowdfunding campaigns, when run well, can seem effortless, almost magical, if you’re watching from afar. Seeing the money and backers pile up, especially in the last phase of a campaign, can be breathtaking, when everyone is hugging and high-fiving.
However, crowdfunding is not a walk in the park. Unless that park is covered with broken glass. And a lion ate your shoes at the entrance gate. And he is now chasing you.
There is anxiety, especially during that famous mid-campaign plateau. There are sleepless nights, when instead of counting fluffy sheep you’re counting all of your Facebook friends who haven’t contributed yet. And don’t forget about the obsessive-compulsive “refreshing” of your campaign page to see if there are any new backers. Yes, crowdfunding can be stressful, but if you do the proper prep work — and create the right relationships on social media — crowdfunding can be full of great joy and excitement.
Below are some important tips before kicking off your crowdfunding campiagn.
Do you need to raise funds to get your idea off the ground?
You’ve got a brilliant business idea, but your bank lacks your vision. (Or perhaps you lack the collateral.)
Maybe you reached out to friends and family, but you know they lost their shirts when your brother-in-law’s salmon-flavored energy drink flopped. Is this the death of your nascent business?
Crowdfunding platforms such as fundedflow help provide an alternative method of raising capital for your startup, project or venture. The investors actually make a donation to your cause, so you are not expected to pay back the money or necessarily offer them equity in your business, but you may need to provide some give backs as a reward. It's up to you to make a concerted effort to attract as many people as possible to your project profile page. Submitting press releases to online press release and newswire sites provide some of the online tools available. You can pay to have better placement for your press release, but you can also use the free submission services. Start by understanding the key elements that make a good press release. fundedflow has also provideda free sample template which you can use to get started writing your own.
A press release is a written statement to the media. It can announce a range of news items, including scheduled events, personnel promotions, awards, new products and services, sales accomplishments, etc. It can also be used to generate a feature story. Reporters are more likely to consider a story idea if they first receive a press release. It is a fundamental tool of PR work, one that anyone who's willing to use the proper format can use. We'll show you how.
A surprisingly common myth about crowdfunding is that once you make your project live, affluent beneficiaries will come flocking to fund your idea. In reality, it takes strategy and foresight to seek out the crowds that will be interested and passionate about your cause, and time invested in building that online community, before your campaign launches.