Jul/16/2015 · 15:07
two years ago

10 Tips for Launching a Successful Crowdfunding Campaign

Setting up a new crowdfunding campaign on TravelStarter is easy, but making sure it succeeds takes preparation and careful thought. Here are ten tips to launch a successful crowdfunding campaign.

1. Choose a platform that is tailored to your type of business

You can use a general purpose crowdfunding site, but a specialized site will put your idea in front of the right kind of people and have also offer features designed to help promote your kind of project. If you’re running a tourism or hospitality business, TravelStarter will help you reach conscientious travelers worldwide.

2. Don’t make your campaign period too long

A long campaign period suggests you lack confidence in your idea and don’t believe people will be interested. A shorter period helps keep a constant buzz around your project, as crowdfunding campaigns generate the most interest when they launch and when they end. The most successful crowdfunding campaigns tend to run for less than 30 days.

3. Let family and friends know

The whole point of crowdfunding is to let the world know about your idea, but you shouldn’t underestimate the contribution family and friends can make. A large percentage of most crowdfunding campaigns’ funding comes from the project owner’s family and friends, so don’t neglect to let everyone in your family and social circle know about your project.

4. Make a good video

You should have a strong campaign from day one, which means having a strong pitch for your project with a compelling video. Script the video, but make it seem as natural as you can. This may take some practice and you may need to record things several times. Try to make the video as professional as possible, using different camera angles and background music. It might be worth paying someone who knows about video and audio production to help you out.

5. Keep your funders updated

People who fund a project appreciate receiving updates through the campaign. This also encourages new people to back you as they can see how funding your project is going to make a difference.

6. Use Facebook and social media

Social media, especially Facebook, can make a massive difference to the success of your crowdfunding campaign. A large Facebook following can easily translate into a large number of funders, so do what you can to get as many Facebook followers as possible before you launch your crowdfunding campaign. Post regular updates on Facebook to let people know how your campaign is progressing and encourage them to get involved.

7. Tell a compelling story

If you want people to fund your project you have to make them care. Create a compelling story and angle for your idea which will explain why your project matters and why you deserve people’s hard-earned cash. Detail the struggle you are going through to bring your dream to life.

8. Tell your story with photos

The cliché “a picture paints a thousand words” is certainly true when it comes to crowdfunding campaigns. If people can’t get an idea for how your project will look they’re much less likely to fund it. Make sure you have some great photos that will tell your story for you.

9. Set a realistic funding goal

Knowing how much to ask for is one of the hardest parts of launching a crowdfunding campaign. You need to set your funding goal to a realistic amount to raise enough to complete your project, but don’t be greedy and ask for too much. Many people use crowdfunding to supplement their own investment in a project.

10. Promote your campaign

Simply creating a crowdfunding campaign and hoping for the best is rarely enough. The most successful campaigns combine a great idea with tireless promotion. Involving the local press can be a good way to generate interest in your project. If you’re doing something really unusual it may be taken up by the national or even international press. Nail down the essence of what makes your project interesting, and then contact bloggers and online magazines in your industry who may want to feature you.