Introduction: Step by Step Guide on How to Successfully Launch a Crowdfunding Campaign
Crowdfunding is a fairly new option for entrepreneurs that they can use to launch brand new projects without having to make capital investments. Instead of having to buy tons of inventory before you even launch your products, with crowdfunding, you can judge the demand for your product and fund your first production run without any investments of your own. If you don’t have the money to fund your first production run, then turning to some of the crowdfunding platforms could be the right choice. If you successfully launch your campaign, people will support you by pre-ordering your products and you can use that money to fund your first production run. Here are the 7 steps you must take to prepare your campaign and drive it to success.
Step 1: Create Your Own Story
When it comes to crowdfunding, it all starts and ends with a story. Traditional websites like to put their main focus on products, but for the people who use crowdfunding platforms such as Indiegogo or Kickstarter, it’s all about the story. They want to know how you came up with the idea and how the idea transformed into reality. Explaining to them what you’re passionate about, what your obstacles are, what motivates you, and why you need their help is as important as the product you intend to launch.
Step 2: Write a Video Script
Before even thinking about shooting your video, it is important to create an attractive storyboard. It may seem as a hard thing to do, but when you have a storyline written for your video, it will be much easier to create your video and plan for it. When your story allows you to visualize your video, you will know you’re on the right track.
Step 3: Create a Video
The next step is to shoot your video. Almost any type of can work for crowdfunding purposes, but it still has to be professionally done to make sure it delivers the message you’re sending. Amazing crowdfunding videos have led to successful campaigns, so don’t sleep on them. If you are low on budget and don’t have the funds to hire a professional video designer, pay a visit to the nearest university. There are high chances that you will find a capable student that can get the job done. You will pay a lower price, and he or she will get the chance to improve their portfolio; a win-win situation.
Step 4: Create Professional Product Photos
How you present your product is very important when it comes to crowdfunding. Take your time and find capable, experienced photographers, as they will pay off in long term. Modern online investors are overwhelmed with countless new crowdfunding projects every day, and you need to create appealing photos that can attract their attention just enough so that they are willing to click on your product and see what it’s all about.
Step 5: Create a Website
Creating a website for your business is not essential for success, but it can help you a lot. Some people aren’t always sure that a certain startup is legit and they will google you online to find what you’re all about. Having a website will make it easier to show that you are a legitimate business and supporters like to see credibility. All you need is a simple, neatly looking landing page that can tell your potential supporters more about who you are and what you do.
Step 6: Know Your Numbers
Before putting your product up for donations, you must do the math and determine how many items you will have to sell to reach the goal you’ve set. This will put a better perspective on your goal.
Step 7: Submitting Your Campaign
Websites such as Kickstarter or Indiegogo have guidelines through which they decide whether they accept or deny a campaign submitted to them. Not all crowdfunding projects are accepted and you should get informed on the latest crowdfunding news and trends so that you know how to set up your strategy. The process of approval can last a couple of days and might be asked to make certain changes for it to be accepted. Send your campaign at least two weeks before your launch date.
Crowdfunding is a great option for entrepreneurs to get their products closer to the market. Furthermore, if you fail, you won’t lose any money and you will get out of the whole deal with a new experience and new knowledge.