Just a couple of years ago, websites like Kickstarter created a storm. Giving people the power to decide which companies would succeed and fail, loads of businesses managed to get themselves funded using their customers money. Of course, though, this has died down over the last year or so. Despite this, it is still possible to mount a strong bid for funding using a method like this. To help you out with this, this post will be exploring the keys to a successful crowdfunding campaign, and the work which you can do to make sure that you don’t fall into any traps along the way.
The Pitch: When you first make your pitch for a campaign like this, you have to be thinking a lot about the feeling you want to convey. The people reading this will be interested enough by your name, images, and concept to learn more about it, and this makes it important to capitalise on it. If you need some help with this, copywriters can be hired all over the web to build content for this sort of purpose. While this will help you to create an excellent pitch, it will also give you the chance to see what someone else thinks about your product.
The Product: There isn’t much point in going to a site like Kickstarter with a mere idea in mind. People will expect you to have put the work into a process like this, and will want to see at least a basic prototype of your finished product. Companies like Prototek manufacturing sheet metal fabricators can help you to build your first versions of the things you’d like to sell. It could be worth having a handful of basic examples made for the next stage in this challenging process. Of course, along with being partially finished, the idea has to be a good one, too.
The Rewards: People won’t want to put money into your business unless they get something in return, and this means that you have to offer some sort of rewards to those backing you. Basic marketing materials, like mugs and pens, make great gifts for those putting small amounts in. For those donating large amounts, though, it could be worth promising versions of the finished products, as this will inspire people to spend more.
The Future: The success of a crowdfunding campaign isn’t defined by the amount of money you’re able to raise. Along with this, you will be aiming to start a proper business, and will have a lot of people to give something back to. To make sure that you can fulfil your responsibilities in this area, it will be worth working hard to stick to your business plan. Failing to do this could result in unhappy backers, and this will often cause companies to lose their good reputation before they even get started properly.
With all of this in mind, it should be easy to see how the most successful crowdfunding campaigns are able to find success. This is a very popular route to take, and it will be hard to make sure that you do everything right.