In Part 1, we shared at length how to plan ahead for your crowdfunding campaign. That was just the first of 5 tips we got from Engaged Talks: Spark Crowdfunding with The Spark Project. Here are the next 4 tips:
2. Extend your campaign to the physical world
Remember that although your crowdfunding campaign happens primarily on a virtual platform, you are campaigning to people in the physical world. The usual campaigns go for 30- 45 days only so you must maximize your presence during this period. Be everywhere your target backers are. Have a presence in mixers, events, open mics, social gatherings, and more. Funnel people into your online crowdfunding campaign, and get them to pledge to your project.
3. Seek support from your immediate network
“Start with your network.” It is important for you to identify who these people are in your immediate group. They may be your parents, siblings, cousins, aunts and uncles, your closest friends, and your other social circles. Do not be shy to seek their help and support. Crowdfunding trends show that campaigns who are able to raise at least 30% of their target by the first week are more likely to succeed in reaching their funding goals. If you are creating a product close which is relevant to you, chances are your immediate network might also find it relevant to them. Activate them!
4. Start strong
Try this: go to thesparkproject.com and look at the different campaigns running. Identify three (3) projects you immediately find interesting or worth funding. Now look at their completion meters. Did you unconsciously choose the ones which were closer to completion? You are not alone. Based on crowdfunding trends, campaigns that reached 30% or higher during their 1st week had a higher chance of success. We can say that success attracts success. So make every effort to start strong and expend your efforts during your first week. Campaigns also tend to plateau during the 2nd and 3rd week of campaign; and picks up steam again during the final week. However, if you wait until the last week before you pick up the pace, your campaign might not make it in-time for the deadline.
5. Always communicate to your backers
Communication is 🔑! Remember that your backers pledged because they trust you. Maintain trust by consistently and regularly updating them on the status of your campaign, how your project is progressing, and any new updates like bonuses and rewards. Seeing communication from your is also encouraging to people who are exploring your campaign. Remember that at the end of the day, campaigns are communication transactions aimed to convert your target audience’s into supporting your cause.
That’s our 5 key takeaways from Spark Crowdfunding with The Spark Project! We hope that it helps you jumpstart your own crowdfunding campaign for your world-changing creation
To see the full album of photos, visit our Facebook event page HERE.
One more thing…
Benilde Hub of Innovation for Inclusion (HiFi) will be having two (2) events on August 22, 2019:
Benilde Peter D. Garrucho Jr. Innovations Institute (PDGii) Space Walk
Join us for a day of interactions with other social-purpose professionals and social innovators as you visit and tour our new campus. Walk through the open lobby and mezzanine, view the latest prototypes of the Benildean innovators under the HomebrewEd Program, share meals with the HiFi team, peek through a public Design Thinking workshop at the new makerspace, and enjoy the open air of the building rooftop. Discover how our new space may fit your organizational needs.
For FREE tickets, click this LINK.
Designing Your Best Life Now
“Designing Your Life” presents a coherent approach to thinking about life choices and career choices. It aims to use the framework of design thinking to address the “wicked problem” of designing your life.
This special event will be facilitated by Ms. Stephanie Choo and Ms. Abi Mapua-Cabanilla
Workshop Fee: (includes workshop kits, snacks and meals)
P2500 for Professionals
P1000 for Students
To register, click this LINK.