Crowdfunding is a very effective way for an entrepreneur to raise the money they need to create something amazing. Some ideas have landed businesses and entrepreneurs eight figures of revenue in just a couple of months. If you’d like to get on-board the crowdfunding train, there are some proven ideas that can help you launch your next campaign into the stratosphere.
It all begins with a good idea that you’re willing to test on the market today. You’ll likely need at least one prototype to model or proof of your concept to get people interested, but you’ll get instant feedback on how good… or bad your concept might be. In return, you’ll know whether or not you can proceed with the idea for a fraction of the time and cost it would traditionally take for new products.
1. Tell an Awesome Story
Crowdfunding is a B2C model at its very core. You need to relate to your potential customers by telling them your story. How did you come up with this idea? What inspires you about it? Why should they help you turn this into a reality? It’s a method of establishing a relationship that will pay off in long-term dividends for you.
2. Get a Great Script
Videos provide almost 70% better results for crowdfunding campaigns. You’ll need a great script in order to take advantage of this. If you don’t have a great writer on your team or the cash to hire a marketing agency, then consider hiring a freelancer on one of many available websites today for a budget-friendly price.
3. Make a Professional Video
The quality of your video will likely be the first impression a potential backer has of your product and business. If you’ve got a lousy video with different levels of audio and images that aren’t stabilized or grainy, then there’s a good chance many people will judge your organization as unprofessional. If you don’t have the resources to shoot a video, then maybe a local media class can do it for you as part of their curriculum that semester.
4. Have Outstanding Stills
Don’t underestimate the value of still photography with your product. Excellent stills can create a buzz all on their own. Some even make their way into being memes, which further adds to the viral nature of a crowdfunding campaign. There’s a good chance you know someone who can take a professional picture for a discounted price. Find them and put them to work.
5. Create a Dedicated Domain
Create a domain that is easy to remember and promote that will redirect to your crowdfunding campaign. Purchasing a domain name is pretty cheap and in return, you can have people specifically put in the website and get to your campaign page. Make sure to link to your campaign from your primary website as well.
6. Know Your Numbers
Make sure you know how much money you need and what price point you must sell products at before beginning. If you end up selling a product for $75 and it ends up costing you $100 to produce, then you’ll bleed cash fast.
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